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RETAIL RESCUE: Visions + Strategies
Ronald A. Altoon, FAIA
LEED® AP, CRX, CDP
ICSC Trustee
Partner Emeritus - Altoon PartnersLos Angeles Amsterdam Shanghai
Vision + Strategies
• ESTABLISHED PROPERTY
• POSITIVE COMMUNITY RELATIONSHIP
• SOLID/IMPROVING DEMOGRAPHICS
• STRONG UPSIDE POTENTIAL
• CREDIT TENANTS
• MANAGEMENT IN PLACE
• MARKET DESIRABILITY
• EXPERIENCED LOCAL PARTNER
SEEKING A SOUND INVESTMENT: The Fundamentals
SEEKING A SOUND INVESTMENT: The Numbers
• SOLID INVESTMENT
• ENHANCED CAP RATE POTENTIAL
• ACCEPTABLE ROI
• CASH ON CASH RETURN
• STRONG INTERNAL RATE OF RETURN
• STRONG CAPITAL MULTIPLE
• OBJECTIVE EVALUATION
• TRIPLE NET LEASE (NNN)
• ACCUMULATED DEPRECIATION
• BENCHMARKING
Vision + Strategies
SEEKING A SOUND INVESTMENT: The Numbers
• CASH FLOW
• MINIMUM RENT
• PERCENTAGE RENT
• COMMON AREA MAINTENANCE (CAM)
• RENT ROLL
• DEBT COVERAGE RATIO (DCR)
• PRO FORMA
• VACANCY LOSS
Vision + Strategies
LIPSTICK (COSMETIC) REMODELING Vision + Strategies
Windward Mall
Kamehameha SchoolsKane’ohe, HI
FACELIFT (NEW EXTERIOR) Vision + Strategies
Aurora Town Center
Simon Property GroupAurora, CO
ENCLOSURES Vision + Strategies
Fort Worth Town Center
Texas Centers Associates Fort Worth, TX
HORIZONTAL EXPANSION Vision + Strategies
The Shops at Tanforan
Wattson/BreevastSan Bruno, CA
VERTICAL EXPANSION Vision + Strategies
Fashion Valley Center
Simon Property Group/
Morgan StanleySan Diego, CA
HORIZONTAL & VERTICAL EXPANSION Vision + Strategies
Arden Fair
Homart Development Co.Sacramento, CA
DEPARTMENT STORE ADAPTIVE RE-USE Vision + Strategies
David Jones
AMP
Warringah MallSydney, NSW, Australia
RADICAL TRANFORMATION Vision + Strategies
CentralWorld
Central PattanaBangkok, Thailand
2009
CentralWorld Central Pattana
Bangkok, Thailand2010
PLACE
MAKERS
ESPACIO PUBLICO
PROTAGONISTA
EXPERIENCIAS
RELEVANTES
UNA NUEVA PROPUESTA