Karen Busteed

Karen Busteed

Senior Vice President

Ms. BuSteed specializes in retail tenant representation and transaction management nationally in mall locations and regionally in the Pacific Northwest markets. Karen specializes in national rollouts, regional expansions, and existing store portfolio optimization and management. This includes negotiating renewals, relocations, store closures, new site acquisitions, and conducting portfolio reviews with major REITs on enclosed properties. Karen’s strong relationships and transaction experience with REITs nationally and in the local/regional Real Estate community benefit retailers in identifying and securing optimal locations to reach their customers and drive value for their organizations. Ms. BuSteed is a result- oriented team player with a professional style and a creative approach to negotiating and deal structuring. She has 24 years of Real Estate experience working with national, regional and local clients. 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 brands. Karen continues to work with like Bank of America, Emler Swim Schools, McDonalds, BioLife, Kaiser Health Systems and Mike’s Drive-In.
Business successes include Karen identifying a shift in business strategy which posed an $8.6M operational costs increase to the client in percentage rent. Karen was successful in negotiating the removal of percent rent from over 400+ leases over a 12-month period for an estimated cost savings of $45M+ in the next 5 years. Karen also worked with a client in creating a strategic plan, initiating negotiations, and coordinating openings of replacement stores as the retailer faced 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 realizing a rent and operational savings of $7.3M.
Prior to her position at JLL, Ms. BuSteed was the Director of Real Estate/Vice President and Partner at a local pizza chain, Pizza Schimizza, Inc. Her additional experience includes working as a Project Manager for National Real Estate/Dant Real Estate Services and as a Director of Market Research for Norris Beggs & Simpson and Cushman & Wakefield.

Select Experience
Apparel/Fashion

  • Filson
  • The Limited
  • Shinola

Financial Services

  • Bank of America
  • Wells Fargo
  • LaSalle Investment Management

Medical/Educational

  • United Health Care
  • Bright Now Dental
  • Bio-Life

Restaurant/Grocery

  • GameWorks
  • McDonalds
  • Menchies
  • Jamba Juice
  • Mike’s Drive-in
  • Retail, General
  • T-Mobile
  • Godiva
  • Live Nation
  • Skin Spirit

Education & Affiliations

  • International Council of Shopping Centers (ICSC).