Industry: Retail
Lease Count: 200+
Portfolio Locations: Nationwide
Background
In 2021, National Lease Advisors (NLA) began working with a fast-growing retail client that initially operated 50 locations. As the plan was to continue to grow the footprint throughout the US, they required a more sophisticated lease management strategy to keep pace with their growth.
Challenges:
Prior to partnering with NLA, the client relied on a basic spreadsheet to track lease data. As their lease portfolio expanded, they recognized the need for a structured and scalable lease administration process. The complexity of managing dynamic rent commencement dates, tracking key milestones, and ensuring compliance with lease obligations necessitated the expertise of NLA.
NLA Solution:
NLA implemented a comprehensive lease management system, providing:
- Dynamic Rent Commencement Tracking: NLA tracked essential milestones, including delivery, permitting, construction, and other key project stages to ensure accurate rent commencement dates.
- Audit and Cost Savings: By carefully auditing CAM (Common Area Maintenance) statements, NLA identified and rectified discrepancies, ultimately saving the client over $100,000.
- ASC 842 Compliance Support: NLA provided crucial support to the client’s accounting team, ensuring adherence to the ASC 842 lease accounting standard.
- Integrated Real Estate Process: Over time, NLA became an indispensable partner, seamlessly integrating with the client’s real estate strategy and providing insights that optimized their lease portfolio.
Results:
Through NLA’s expertise, the client successfully transitioned from a manual, spreadsheet-based lease tracking system to a robust, scalable lease administration process. As a result, they achieved greater efficiency, improved financial accuracy, and significant cost savings. NLA’s ongoing support continues to help the client navigate the complexities of lease expansion, ensuring sustainable and well-managed growth.
Case Study Summary:
This partnership exemplifies NLA’s ability to deliver tailored lease administration solutions that drive efficiency, reduce costs, and support clients as they scale. As the client continues to expand, NLA remains a critical partner in managing their growing lease portfolio with precision and expertise.