Lease Services

Companies today are facing oversized occupancy cost structures. With marked declines in fair market rent and declines in top-line revenue, leases that were negotiated pre-recession assumed market conditions that failed to materialize.

GA Keen Realty Advisors can renegotiate lease terms and deliver results. Our team of real estate professionals has experience negotiating with landlords and possesses a breadth of market knowledge to realize the best mitigation strategy possible: rental reductions, lease modification, and lease terminations.

Sample List of Lease Renegotiation and Termination Clients:

• American Retail Group (Modern Woman and Fitting Image)
  Negotiated terminations on 54 leases for Fitting Image and Woman's World/Modern Woman, resulting in $19.5 million liability eliminated.
• Arthur Anderson
  Successfully negotiated the termination of Andersen’s office leases nationwide, comprising $685.0 million of liability and 3.6 million sq. ft. of space; exceeded client’s expectations; managed issues re: bankruptcy risk, MFN, FF&E, etc.
• Blockbuster
  Successfully renegotiated 2,500+ leases, resulting in savings of tens of millions of dollars.
• Cable & Wireless
  Evaluated entire portfolio of 103 leases, encompassing 5,325,000 sq. ft. of office and technical space nationwide. On behalf of C&W and then its successor, Savvis, successfully negotiated substantial rent reductions. On behalf of the parent company, successfully negotiated favorable purchases of lease rejection claims and settlements of parent company guarantees, thereby resolving disputes with landlords. Cable & Wireless’ aggregate lease obligations exceeded $500 million.
• Collins & Aikman
  Restructured industrial leases in the US, Canada, and Mexico.
• Confidential Car and Truck Rental Company
  Currently negotiating rent reductions on 191 locations across the country.
• Daphne’s Greek Café
  Completed lease renegotiations on 32 locations, generating savings of $2,796,110.
• Dollar General
  Completed negotiating 1,000+ leases across the county, resulting in savings over $9,100,000.
• Jennifer Convertibles
  Successfully renegotiated 58 leases, resulting in savings of $7.4 million.
• K-mart
  Negotiated the termination of 14 leaseholds, resulting in $8.4 million in savings.
• Spiegel/Eddie Bauer
  Successfully negotiated rent reduction on 87 retail and outlet leases with 23 landlords; 12-month savings in excess of $3.4 million; term savings in excess of $8.15 million.