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John T. Riordan School for Professional Development
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Management II Institute
Managing the Asset
A focused, intense look at the financial detail of managing a shopping center in today's mature industry. You'll learn what owners, financial professionals and shareholders pay attention to when determining the value of an asset. More importantly, you'll learn how to think like an asset manager and what you can do to make yourself a more valuable asset in the process. Everything from creating value through FFO and NOI to developing a merchandising plan that increases rent productivity will be thoroughly reviewed as well as systems for property budget review, the determining factors in profit and loss and the evaluations of lease deals. You'll discuss the marketing function and its contribution to center productivity and see when redevelopment and expansion make sense-and when they don't. Be prepared to wear a lot of shoes during this course because you will see the asset management function from all viewpoints.
Maximizing Asset Value Through Leasing and Redevelopment
A logical follow up to the previous course, this class takes a more detailed look at how modern leasing and development strategies are being used to breathe life into established shopping centers. As leasing has become everyone's job, you'll analyze current trends in leasing space and how management is on the front line of either aiding or implementing this most important revenue source. You'll "get into" deal making strategies and how the game is played today to the advantage of both landlord and retailer. You'll talk about what makes a deal and what breaks it in today's hothouse environment and learn how dynamics such as public markets and landlord size determine the negotiating position of all parties. Finally, you'll look at the quasi-science of redevelopment and what conditions are essential before proceeding with a property renovation or expansion.
Consumer Behavior and Its Impact on Retailing, Development and Leasing
The American consumer is the most dynamic force in the nation's economy. It is also the most volatile. It determines what retail succeeds or fails. And because of that, shopping center owners/managers have to keep a razor sharp eye on changing consumer attitudes to keep their properties profitable. In this course, we'll focus on the consumer and how he/she determines your success. We'll concentrate on shifting cultural forces that are redefining the consumer and the shopping center. We'll go deeper into the research model and see what successful shopping centers are finding out about their customers that trigger a re-tenanting, an expansion or a re-development. This is the first class that really takes into account consumer attitudes and how they are truly the driving force in our customer-intensive business
Shopping Center Finance
Understanding the world of shopping center finance is a necessity for virtually everyone in today's shopping center industry. De-mystifying what was once a subject understood by a select few is the objective of this course. Time value of money, net operating income, EBITDA, net present value, internal rate of return-all the terms you've heard will be explained in detail. Cap rates and the factors critical to their determination receive special emphasis to help you understand today's buy and sell environment. You'll think like a owner/developer and understand the conditions conducive to selling and buying and the process undertaken. You'll go through financing and re-financing scenarios, cost of capital, sources of capital and the role of the pro forma. Finally, you'll look at the impact of REITS and how public investment has made shopping center finance everybody's business.
Advanced Public Relations and Crisis Management
The media and its ability to present your shopping center in the best light or ruin its reputation have made public relations another critical topic in shopping center education. Taking the initiative and developing a communication plan that takes into account crisis situations forms the backbone of this "real world" class. You'll learn to develop a communications program before the worst happens. You'll discover ways to put the shopping center's best image forward on an ongoing basis to soften potentially negative coverage. You'll learn how to develop messages for target audiences such as civic leaders as well as consumers. When a crisis does occur, learn how to react positively while protecting both your credibility and the asset. You'll also learn what your rights are as the representative of a business vis a vis the rights of the media to gather information.
Insurance and Risk Management
Explore the mechanics of property and liability insurance beginning with a review of terminology and focusing on the rights and responsibilities of owners, managers, tenants and invitees in different risk situations. You'll also fine out about liability (as defined by different contractual agreements), claims procedures, the selection of a carrier and effective risk management techniques.
Preparing and Utilizing A Business Plan
A solid, well constructed business plan is a property manager's best reference in mapping the course of a shopping center. This class isolates the major components-leasing plan, marketing plan, capital plan and budget plan-then shows you how they combine to maximize operational efficiency and net operating income. More than a preparation course, you'll learn how to use the business plan as a working document that helps you better manage the details of running your property as a true asset professional.
Operating In The Open Air and Specialty Center Environment
The first class to address all the issues related to running an open air or specialty center, this new course is designed to appeal to those who work in the environment and everyone else whose business is affected by these growing concepts. We'll define the many types of centers under this umbrella then break down the management, leasing and marketing challenges each face. We'll take a close look at the consumer responding to the product and how they differ from the one taking business to the enclosed mall. And you'll learn about the economic forces driving these concepts and why, in all their various shapes and sizes, the open air and specialty center model is here to stay.
Advanced Retailing: Increasing Tenant Productivity
Many property professionals are being asked by owner and/or manager to evaluate center tenants as to their viability and longevity. So it's important for those same professionals to understand retailing and the methods of increasing store performance. This class gives you an in-depth look at today's retail world-the trends, the changes, the consolidation. Then it gives you methods of analyzing the store from your perspective. Finally, you'll learn how to effectively diagnose the retailer's economic strength, sales and merchandise mix so you can develop practical ways to improve the retailer's sales productivity.
Bonus Textbook
Shopping Center Management
This book provides personal insights from fourteen industry professionals as they explain several of their specialties. It contains such topics such as designing a security program, risk management, legal issues and more. This publication is included with this program.
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