Nexcom Swings Into Development

May 7, 2004
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MUSKEGON — A partnership with a veteran real estate developer provides Nexcom Commercial Real Estate Inc. the structure needed to move further into commercial property development and management.

Among the projects Nexcom Realty and the affiliated Treline Development Group Inc. have planned is a $20 million, five-year retail and office development at Harvey Street and Mount Garfield Avenue in Fruitport Township.

The site is just south of the Lakes Mall that anchors the growing retail and commercial corridor.

Nexcom’s partners recently formed Treline Development Group with Thomas Eurich, the former chief executive of Randers Engineers and Constructors Inc. in Muskegon.

Under the affiliation, Nexcom’s five partners are principals with Eurich in Treline Development Group, which handles property development, management, investment and financing.

Nexcom’s partners, who formed the firm in 1999, want to become more involved in commercial real estate development and property management. The chance to join with Eurich, who last fall sold his interest in Randers Engineers and Constructors, provided the opportunity to pursue that goal through a separate corporation.

“What it does is really round out our development capabilities,” said Jim Olsen, an associate broker and managing director at Nexcom. “Tom added the component we didn’t have. It was a perfect match.”

Eurich is well established in the property development and management field around Muskegon. He founded the former Randers Group Inc. in 1976 that became a publicly traded company in 1987.

A majority interest in Randers Group was sold to Thermo Electron Corp. in 1997 and operated as a business unit until January 2000, when Eurich and senior management bought it back. They sold their interest last fall to junior management.

Eurich then obtained a real estate license and began forming Treline Development Group to take on a “broader range of development projects” after previously focusing on high-end office development.

A long-time friendship with William Carlston, a partner in Nexcom, led to the affiliation and bringing the additional investors into the firm who possess expertise that complements Eurich’s background in development, construction, finance and design.

“It was a good combination,” Eurich said.

Nexcom, which owns and manages five retail properties in Muskegon County, including the Lakes Commerce Centre that it developed last year across from the Lakes Mall, will turn over development and property management duties to Treline Development Group and focus on commercial real estate brokerage, Olsen said.

Treline Development Group will undertake office and retail projects in markets stretching from Traverse City to Holland, he said.

On the horizon is a three-story, 22,000-square-foot professional office building at Harvey Street and Mount Garfield that will kick off the broader $20 million development, Olsen said. He anticipates work on the office building will begin this fall or next spring.

Nexcom owns two acres at the corner and is buying an adjacent 16 acres with plans to develop retail and high-end office uses over the next five years, Olsen said.

In Spring Lake, Nexcom and Treline Development Group are planning to develop a small retail strip center on M-104.

Along with Eurich, Olsen and Carlston, partners in the company are Roger Schmidt, Jeff Tucker and Bryan Bench.    

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