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John T. Riordan School for Professional Development
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Management I Institute
The Role of Today's Shopping Center Manager
The complex life of today's center manager
is the focus of this new introductory
course for Management I. We'll discuss all
the hats worn by today's manager-generalist,
human resource manager, financial
expert, marketing overseer, retail expert
and leasing agent. Not to mention maintenance
and security oversight. We'll talk
about all the customers the manager
must deal with owner, management
company, staff, retailers, government officials
and of course the shopper. Then
we'll go in depth to show you the tools to
deal with all these roles and how successful
managers are maneuvering this high wire
act to increase the value of their centers.
Basics of Leasing
Now a separate class apart from specialty
leasing, you will learn in depth all the fundamentals
of leasing a modern shopping
center. From the lease plan to the merchandising
plan to NOI objectives, you'll
see the world through the eyes of a leasing
agent and determine the best mix for
a center. You'll learn the mechanics necessary
to make the deal from identifying
the tenants to market analysis to presenting
the deal. Then you'll understand the
deal from the perspective of both landlord
and retailer and those decisive factors
that make the deal or break it.
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
the 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.
Accounting, Budgets and Lease Administration
Understand the concepts of shopping
center accounting, income and expense
management, NOI and its effect on center
value. You'll be introduced to basic financial
methodology used to determine center
income and budget as well as
calculations to determine overage and
percentage rents. Common area costs
(CAM), taxes, insurance costs, utilities and
other income/expenses factored into the
bottom line are discussed in detail.
Financing and capital investment as they
pertain to improvements are analyzed,
particularly as they relate to their affect on
funds from operations and ultimate return
on investment. We look at lease administration
through a frank discussion of billing
issues as well as collections and defaults
as determined by lease language.
Retailing Basics and Tenant Retention
Understand the principles of retailing,
merchandising and the process by which
a retail concept sells product to consumers.
You'll learn principle types, ownership
structures and industry terms. See
the lease from the retailer's 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 determines who stays
and who is replaced.
Construction, Capital Improvements and Operations
Familiarize yourself with basic shopping
center construction needs including tenant
build-outs, how to prepare effective
specification bid packages for construction,
capital improvement and service contracts.
Analyzing and implementing longterm
capital needs and basic shopping
center operations, this class will also cover
preventive maintenance, determination of
maintenance needs, developing a basic
approach to maintenance, deciding
whether to repair or replace equipment
and the upkeep of specific maintenance
areas (HVAC, food courts, roofs and common
areas). Energy management techniques
and use of in-house labor and
contracted services will also be discussed.
Security Management and Public Safety
You'll leave this course understanding the
roles and responsibilities of security management.
The focus is on existing security
problems and the strategies for their resolution.
Topics covered include developing a
security force and its operating procedures,
protection of private property, intervention
in both criminal and non-criminal
situations and deploying labor and contract
services. You will learn techniques to
improve security perception and how to
work with retailers and law enforcement of-
ficials to promote safety within the center.
Marketing as a Management Tool
Understanding marketing is essential to
managing a shopping center, for marketing
is the communication portal between
the center and the consumer. This course
addresses what marketing does, what it is
and what it isn't. It shows you how marketing
contributes as a management and
leasing partner. You'll learn to use marketing
in the most positive sense not only
as a means to market the shopping center
product but also to analyze retail sales,
produce a winning business plan and fill
space through specialty leasing and sponsorship.
We'll give you examples of great
management-marketing partnerships that
create successful center operations.
An excellent reference to the language of the shopping center industry.
Terms and acronyms are translated into French, German, Portuguese and
Spanish. Included with this program.
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