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John T. Riordan School for Professional Development
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Leasing I Institute
Leasing Shopping Centers: The Overview
Familiarize yourself with the art and science
of retail leasing. This session covers
ownership structure, the roles performed
by the general manager, marketing director,
leasing agent, legal department, architect
and owner's representative in
developing a leasing plan and promoting
retail productivity. You'll become knowledgeable
about such topics as developing
an effective tenant mix, utilizing data
pertaining to demographic and psychographic
market and customer profiles,
evaluating tenants' sales volumes, analyzing
various rent structures and planning
short- and long-term strategies that address
lease expirations. You will learn how
to calculate a tenant's cost of occupancy
and use the information to set rents,
breakpoints and overage rent.
Basics of Leasing
Learn the basics of the lease plan,
merchandising mix and the process of
leasing to long- and short-term tenants including
prospecting, qualifying, deal parameters,
negotiating and closing the deal.
Learn the latest industry strategies for creative
use of space and how to assemble
an effective temporary tenant program.
Specialty Leasing and Alternative Revenue
What was once strictly the domain of a
specialty leasing rep is now falling more
and more under the responsibilities of the
center manager. You'll discuss the development
of a specialty leasing program
from the ground up. Learn all the revenue
streams derived from specialty leasing including
but not limited to carts and
kiosks. You'll get into the administration of
specialty leasing programs from deal documentation
to collecting the rent to visual
merchandising. Finally, learn the dynamics of making
the deal that can lead to long
term relationships and sustained revenue.
The Lease Language and Applications of Law
The lease is the binding document between
retailer and landlord that determines
obligations of both. It is also an
increasingly complex agreement that we
will demystify in this new course. You'll
analyze the lease from every angle, understanding
the clauses and provisions,
the exhibits and options. You'll see the
lease as a singular legal document, particularly
when determining rents and
defining gross sales. We'll discuss landlord
and tenant covenants and their enforcement
by both entities. You'll take the
lease apart point by point then reassemble
it into a legal agreement.
Lease Administration
Taking this course will introduce you to
several vital issues that are key to your
success. The first half of the class looks
at lease administration, focusing on
areas of the lease that require oversight.
Also covered are issues that the leasing
representative should consider during
the negotiation process that could become
conflicts between tenants and lease
accountants after the lease commences.
The second half of the class addresses
the administration of ancillary revenues of
shopping centers, including CAM
charges, food court CAM, real estate
taxes, insurance and other forms of recoveries.
Negotiation of the lease term,
renewal options, security deposits and
occupancy terms are also discussed from
the standpoint of avoiding the
pitfalls that result in loss of revenues or
that create conflict between a retailer
and a landlord when the tenant opens.
Retailing Basics and Tenant Retention
Understand the principles of retailing, merchandising
and the process by which a retail
concept sells product to consumer.
You'll learn principle types, ownership structures
and industry terms. See the lease from
the retailers point of view and the unique
challenge of operating in today's center environment.
Dive deep into retail math and
learn determining economic factors a retailer
must deal with every day. Then change
shoes and analyze tenant retention strategies
from the landlord side that determine
who stays and who is replaced.
Construction and Tenant Coordination
Your job, once the lease is executed, is to
get the tenant open at the soonest possible
time. This is a top priority because it
impacts the net operating income. This
overview of the construction process details
the responsibilities of both the landlord
and tenant as well as the project
design, scheduling and tenant coordination.
Specific terminology is explained, as
are the impact of tenant design plans on
construction cost, bidding and negotiating
construction contracts, and working
with contractors to ensure the timely
completion of work and the influence that
the type of project (new development,
renovation or expansion) has on the construction
process.
Prospecting for Tenants: Sources, Trends and Negotiations
Acquaint yourself with the methods and
analytic tools used to find and sign up the
right tenant for your center. Specific
topics covered include analyzing the trade
area, needs assessment of a center's tenant
mix, identifying and contacting
prospective tenants and successful negotiations.
Making the Deal: Salesmanship and Structuring Special Deals
Take part in a study of deal-making,
analyzing the process from first contact
through negotiation to closing the deal.
You will also analyze a case study on remerchandising.
Specific issues discussed
include defining the project, targeting
prospective tenants, presenting the deal,
negotiating pointers and closing the sale.
You will learn when special deals are
necessary. You also will learn how to
strike the right deal one that makes both
the owner and retailer believe they've
achieved a win-win result.
Bonus Textbook
ICSC's Dictionary of Shopping Center Terms
An excellent reference to the language of the shopping center industry.
Terms and acronyms are translated into French, German, Portuguese and
Spanish. This publication is included with this program.
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