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Keen-Summit Capital Partners LLC creates and executes upon a full suite of specialized real estate and lease advisory and transactional services.

Lease Renegotiations and Lease Restructuring Services

Companies today are re-evaluating their footprint and are questioning whether their occupancy costs are justifiable given current market conditions.

Keen-Summit Capital Partners LLC renegotiates leases and delivers results. Our team of real estate professionals has unsurpassed experience successfully negotiating rental reductions, lease modifications, and lease terminations across North America.

Accelerated Sales of Real Estate and Leases via Real Estate Brokerage, Auction and/or M&A Processes

Keen-Summit Capital Partners LLC develops marketing plans that create market excitement and result in maximizing asset values quickly and efficiently. Depending upon our client's circumstances, we can utilize a standard real estate brokerage process, an auction process, or a confidential merger and acquisition (M&A) process. Under any scenario, our goals include creating a competitive bidding process and providing you with an accelerated timetable for closing.

Real Estate & Lease Transaction Services at Keen-Summit Capital Partners LLC

Types of Properties

- Retail (owned/leased)
- Office (owned/leased)
- Industrial/Distribution centers
- Multi-family
- Hospitality

- Golf
- Land
- Medical
- Special use
- Environmentally impacted

Examples of Lease Renegotiation and Termination Projects

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 Andersen

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 while also managing issues related to bankruptcy risk, MFN, FF&E, etc.

Blockbuster

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.

Daphne’s Greek Café

Renegotiated 32 leases, generating savings of approximately $2,800,000.

Dollar General

Renegotiated 1,000+ leases, resulting in savings over $9,100,000.

Jennifer Convertibles

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

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.

Examples of Auction Sales

Anita Terrace Owners, Inc., DIP

As part of the restructuring of a bankrupt 560-unit cooperative apartment corporation consisting of three 14-story buildings, sold 252 sponsor units in a transaction that infused the co-op with a new capital contribution valued at up to $17,000,000; plus refinanced the existing debt with a new $30,000,000 mortgage.

Brown Schools, Debtor

Sold multi-building campuses in Running Springs, CA; Bonners Ferry, ID; Naples, ID; and Sutton, VT for $17.5 million.

Country Home Bakers, DIP

Sold to Publix Supermarkets as a turn-key 101,047 sq. ft. commercial bakery in Atlanta, GA for $5,600,000.

Charles Stanziale, Esq., Chapter 11 Trustee for Solomon Dwek, et al.

Sold 159 commercial and residential properties in NJ, PA, FL, SC, and NC generating proceeds of more than $137 million.

Fleming, DIP

Sold over 60 properties (20 owned and 40 leased), using both an auction and competitive bidding process, realizing proceeds in excess of $26 million.

Grossingers Hotel and Golf Resort

Sold 272-room resort and convention center (with championship golf course) in Sullivan County, NY.

Parmalat, DIP

Sold 6.85 acres of environmentally challenged land in Wallington, NJ for $2,100,000.
Sold ice cream plant and 3.8 acres of environmentally challenged vacant land in West Caldwell, NJ for $2,320,000.

Recycled Paperboard, DIP

Sold a 210,000 sq. ft. facility on 5.5 acres in Clifton, NJ. After competitive bidding, increased the $3.5 million stalking-horse contract to $4,500,000.

Service Merchandise

Negotiated complex stalking-horse contract for the disposition of 58 properties, a total of 3,139,299 sq. ft., in 21 states, for $67,000,000. Conducted auction and overbid the stalking-horse contract, generating $85,600,000.

Examples of Brokerage Sales

American Italian Pasta

Sold a 108,000 sq. ft. pasta manufacturing facility in Kenosha, WI for $6,500,000.

Barney's Inc., DIP

Sold 95,000 sq. ft. flagship store in New York, NY for $22,000,000.

Cooker Restaurants, DIP

Sold 17 restaurants across the Southeast and Midwest for $22,935,000.

DB GSS

Sold a former shipyard and mega-yacht repair facility consisting of two adjacent land parcels for a combined 23.29 acres on the Savannah River for $10,000,000.

Franciscan Medical Center

Sold a 928,000 sq. ft. property in Dayton, OH for $3,300,000.

Vineyard Christian Fellowship of Malibu

Sold the 35,152 sq. ft. video production and recording studio facility, including dance studio, banquet room, and 500-seat performance theater, in Malibu, CA for $15 million.

Windham Mills

Sold a former textile mill, consisting of six granite buildings, along the Willimantic River in Willimantic, CT for $5,550,000. Property offered development potential for residential, commercial, hotel, restaurant, museum, multi-family, industrial, and office uses.

Winding Road

Sold 9.75 acres of industrial land located in Old Bethpage, NY for $3,500,000. The property was an EPA Superfund Site with a 50,000+/- sq. ft. industrial building.

Examples of Lease Sales

Edison Brothers

Negotiated the sale and termination of 79 leaseholds, eliminating more than $5.4 million in claims.

Filene’s Basement

Disposed of 18 retail leases in New England and Mid-Atlantic states, totaling 606,919 sq. ft., for $5,100,000 within one month; rejection claims reduced by $23,350,000.

Frank’s Nursery and Crafts

Conducted a sales process that facilitated a $130 million reorganization plan. Sold 18 owned stores located across the central and northeastern states for $23,055,000 and 54 leases (991,440 sq. ft.) for $14,400,000.

Hancock Fabrics

Sold 44 leases in 24 states generating over $4,000,000 and eliminating $4,100,000 in rejection claims.

Hechinger / Builder’s Square

Sold 91 retail properties, encompassing more than 7.9 million square feet (leased, ground leased, and owned) for $159,000,000.

Movie Gallery

Sold leases and negotiated lease terminations on 537 retail locations (1.5m sq. ft.) in 44 states.

Service Merchandise

Negotiated complex stalking-horse contract for the disposition of 58 properties in 21 states for $67,000,000. Completed the lease portfolio sale through an auction process generating $85,600,000 for 3,139,299 sq. ft.

Warnaco Group

Disposed of 83 retail leases, including Speedo, Olga-Warner’s, and Calvin Klein Jeans outlet stores.

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