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Current Responsibilities
Ms. BuSteed specializes in retail tenant representation and transaction management nationally in mall locations and regionally in the Pacific Northwest markets. Karen also specializes in national roll-outs, regional expansions, and existing store portfolio optimization and management. This includes negotiating new site acquisitions, renewals, relocations, store closures, and conducting portfolio reviews with all the major REIT's on enclosed properties. Karen's strong relationships, transaction experience with the REITs and relationships in the regional real estate community benefit retailers in identifying and secure optimal locations to reach their customers and maximize value for their organizations.
Experience
Ms. BuSteed is a results-oriented team player with a professional style and a creative approach to negotiating and deal structuring.  She has 23 years of real estate experience working with national, regional and local customers. Ms. BuSteed has effectively managed processes across various department lines and has successfully built strong partner relationships.  In addition to site selection, acquisition and development experience, she has been directly responsible for strategic planning and market research for multiple national brands.
In 2009, Karen succeeded in creating a strategic plan, initiating negotiations and coordinating openings of replacement stores for a retail client faced with a crisis situation when their largest partner was failing and preparing to close 400 stores around the country. The negative impact was estimated to be $10M per month in lost revenue. The client maintained the revenue stream of the previous 400 locations with the strategic placement of only 278 new leases at far lower rents and realized a rent and operational savings of $7.3M.
In 2013, Karen identified a shift in the client's business strategy, which posed an $8.6M immediate operational costs increase to the client in percentage rent. Karen was successful in negotiating the removal of percentage rent from more than 210 leases over a 12 month period.  This resulted in an estimated cost savings of $66M+ in the next 5 years.
Prior to her position at JLL, Ms. BuSteed was the Director of Real Estate/Vice President and Partner at a local pizza chain, Pizza Schmizza, Inc.  Her additional experience includes working as a Project Manager for National Real Estate/Dant Real Estate Services and as an Analyst for Norris Beggs & Simpson and Cushman &  Wakefield.
Credentials and Affiliations
Ms. BuSteed is a licensed broker in the State of Oregon and is in the process of acquiring her Six Sigma Greenbelt.  She is also an active member of the International Council of Shopping Centers (ICSC).