Mr. Kenneth Leonard

Principal, Leonard Associates

Member of the Real Estate Council

Request a consultation with Kenneth Leonard

Council Member Biography

Kenneth Leonard is the Principal of Leonard Associates. Mr. Leonard is a Consultant specializing in all matters relating to retailing and shopping center real estate. He has over 45 years of experience in serving as an executive of and advisor to department store companies, mall developers, national retailers, shopping center REITs, lenders, and institutional investors. Mr. Leonard has unique and extensive experience as a senior executive of both Fortune 100 anchor and inline tenants (National Tenants) and leading shopping center REITs (National Landlords). He also serves as an Expert Witness in high profile litigation matters throughout the country and regularly performs due diligence services for investors and buyers of retail related properties. Mr. Leonard's expertise includes economic and market valuation services, feasibility studies, and advisory services for retailers, investors, attorneys, REITs, and developers. (This is me - Update Profile)

Employment History

1988 - Unspecified: Principal, Leonard Associates
1986 - 1988: VP - Real Estate, MONTGOMERY WARD ENTERPRISES INC.
1984 - 1986: VP - Development, THE TAUBMAN COMPANY LIMITED PARTNERSHIP
1982 - 1984: VP - Real Estate & Construction, COLE NATIONAL CORPORATION
1970 - 1982: VP - Development, MACY'S, INC.
1960 - 1970: Regional Director, Real Estate, Walgreens

GLG News^SM Analyses by Kenneth Leonard

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Is Trump For Real?

February 6, 2012

Analysis of:Trump suspends retail leasing effort: "I'm in no rush" | www.chicagorealestatedaily.com

Three years ago Donald Trump finally opened his troubled,but beautiful, riverfront skyscraper in downtown Chicago. He has issued many press releases about its success but a new article exposes most of his bluster as false advertising.

Are Macy's closures a leading indicator of mall REIT values?

January 18, 2012

Analysis of:Macy's Closures | thecrereview.blogspot

The recent announced closings of 5 Macy’s and 4 Bloomingdales stores may have created a bigger threat to Mall REIT values then the announced closings of 120 Sears and Kmart stores.

Three things you should know about Sears store closings

December 29, 2011

The WSJ carried an article indicating that Sears would close “100 to 120 stores” in an effort to “try to fix the problem of falling sales”. The article was based on an internal memo in which Sears also announced “that the store closings will generate $140 to $170 million in cash from inventory sales and that they expect the sale or sublease of real estate holdings to add more cash”.

The Death Spiral Begins for SHLD

August 19, 2011

Analysis of:Sears Holdings 2Q loss widens, misses expectations | finance.yahoo.com

After many, many quarters of declining sales and profits, it now appears that the market is finally recognizing the inevitability of the continued decline in the value of SHLD as a going company. Its' stock is finally heading towards a value consistent with its' relative position in the marketplace and soon will no longer be valued at a multiple that would indicate it is a better company than Nordstroms or Macy.

No Retailers Allowed @ SHLD

August 16, 2011

Analysis of:Sears Holdings names new CFO | www.chicagobusiness.com

This latest announcement from Mr. Lampert introducing his fifth CFO in the past six years, once again shows his disdain for, or inability to attract, senior executives with solid experience from top retail companies. It should be noted that every other top retailer tries to recruit talented people from other top retailers. Mr. Lampert either won't or can't follow the tried an proven method of turning around a troubled retailer.

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GLG Study Groups with Kenneth Leonard(?)

Study Group Name	No. Members
Retail Brokerage Experts (Florida)	110
Sears and Kmart Real Estate Experts	67
Restaurant Brokerage Experts: Commercial Real Estate Brokers (US)	55
Bally Total Fitness Experts	43