Karen Busteed

Karen Busteed

Retail Brokerage Lead

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 roll-outs, regional expansions, and existing store portfolio optimization and management. This includes negotiating renewals, relocations, store closures, new site acquisitions, and conducting portfolio reviews with all the major REITs on enclosed properties. Karen’s strong relationships, transaction experience with the REITs, and relationships in the regional Real Estate community benefit retailers by identifying and securing optimal locations to reach their customers and drive value for their organizations. Ms. Busteed is a results-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 T-Mobile and Amazon on their new store roll outs, Bank of America locally, and United Health Care on short-term projects.

In 2013 Karen identified 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 $70M+ in the next 5 years. 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.

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
    • LaSalle Investment Management
  • Medical/Educational
    • United Health Care
    • Bright Now Dental
    • Bio-Life
  • Restaurant/Grocery 
    • Menchies
    • Jamba Juice
    • Mike’s Drive-in
  • Retail, General
    • T-Mobile 
    • Godiva
    • Live Nation
    • LivCor
    • Skin Spirit

Affiliations

  • International Council of Shopping Centers (ICSC).