Independent Trusted Advice
INRA combines executive-level knowledge and expertise across multiple commercial retail real estate disciplines, all under one dynamic platform. As your advisory partner, our team will analyze your portfolio and deliver independent advice on the optimal course forward for each asset.
Enclosed Malls | Open-Air Centers | Free-Standing NNN Assets
Institutional Retail Advisors:
Your Partner in Navigating the Evolving Retail Real Estate Asset Landscape
Navigating the Evolving Retail Landscape: Expert Guidance for Sophisticated Retail Real Estate Assets
Are you the owner, developer, or lender of a sophisticated retail shopping center or mall? Are you seeking expert advice to optimize your investment and ensure long-term success? Institutional Retail Advisors (INRA) is your trusted partner.
Our team at InRA offers decades of expertise in developing, managing, and enhancing sophisticated enclosed regional malls and other shopping centers throughout the United States. With a proven track record of success for major public and private retail real estate companies and lenders, we possess the knowledge and experience to guide you through the complexities of the modern retail landscape with data-driven choices.
Key services include:
- Market analysis and trend forecasting: Identifying emerging opportunities and challenges.
- Property valuation and financial modeling: Assessing the value and performance of retail assets.
- Tenant recruitment and leasing: Attracting high-quality tenants to maximize revenue.
- Property management and operations: Ensuring efficient and effective management of retail centers.
- Development and redevelopment: Planning and executing successful retail projects.
Benefits of partnering with InRA:
- Proven expertise: Our team’s decades of experience in the retail industry.
- Tailored solutions: Customized strategies to address your specific needs.
- Strong relationships: Access to a network of industry leaders and partners.
- Successful track record: A history of delivering exceptional results for our clients.
Don’t let the complexities of the modern retail landscape hold you back.
Partner with InRA to develop a winning strategy that ensures your continued success. Schedule a consultation today
The Solution
Leverage the collective and diverse wisdom of tenured industry executives. Institutional Retail Advisors brings together years of knowledge, experience and execution across multiple disciplines, under one platform. We provide independent trusted advice and action. Our team is uniquely positioned to suggest the optimal course forward, and when appropriate is well able to take immediate actions and implement solutions.
Pension Funds
Lenders
INRA will evaluate your troubled mortgage loans and help determine whether you should forebear or foreclose.
Private Equity
INRA advises private equity funds and family offices with large investments in retail real estate.
Impact
Portfolio Review and Risk Rating
Hold/Sell/Debt/Equity analysis
Partner Recommendations
Tenant Requirements and Negotiations
Capital Allocation
Forbearance
Acquisitions
Dispositions
Foreclosures (REO) Workouts
Collective Strength
INRA’s team of industry leaders bring a collective wealth of expertise to your organization. Some of our key services include:
Acquisitions, Dispositions, Debt, Equity, Tenant Representation, Lease Negotiation, Merchandise Mix, Marketing, Asset Management, Property Management, Valuation, RETax Appeal, Brokerage, Legal, Leadership, Execution
Seasoned Professionals
Our experienced team brings a unique collective skill set that provides our clients the ability to garner the specific guidance they require.
- Lease review and negotiations
- Risk assessment and mitigation actions
- Acquisition services: underwrite, review use/exclusive/co-tenancy clauses, review early termination/kick-out clauses and remedies, contract with and review third party due diligence (environmental, zoning, structural), assess execution risk and returns
- Advice on strategies to increase the asset value prior to disposition
- Portfolio Review and risk rating
- Advice on sources of debt and equity for financing or refinancing
- Borrower representation in conversation with Lenders/Servicers and advice on work out strategies
- Real Estate Tax review and appeal when warranted
- Immediate property interventions and/or oversight of existing third-party property managers.
- Tenant, Government & Media Relations
- Real estate brokerage and/or specific referrals
- Interim leadership as needed
Our Team
James Bieri
Principal - In Memoriam
Principal of Stokas Bieri Real Estate. With over 40 years of experience in private practice focusing on high-end retailers, Jim’s client list is a who’s who of retailing. Locating his business in the heart of Detroit’s Central Business District throughout the history of the company there are few with his vast knowledge of the Detroit Metro area retail landscape. His years of doing business nationally has given him the opportunity to know most the major REIT’s and key retailers. Alongside his real estate experience, he holds a law degree from Detroit College of Law and is a partner with Bieri & Ames. Mr. Bieri is considered a thought leader within the industry and is a frequent source for many national and local publications in Retail Real Estate. Since joining forces with Jim Stokas 10 years ago he has increased his activity in Michigan and broadened his scope to a variety of retail projects, including blending his two passions by facilitating leasing and legal decisions for Beaumont Hospital on the Woodward Corners project in Royal Oak.
Cathy Clark
Principal
Accomplished Real Estate Executive with over 30 years of experience buying, selling, financing, joint venturing and investing in retail, mixed-use, office, industrial, senior housing, and multi-family real estate. Former REIT EVP, running Transaction side of the business. Proven strategic partner and decisive leader, with strong capital allocation, financial and operational intelligence. True collaborator with persuasive consensus building, negotiation, and communication skills. Broad experience includes all aspects of investment strategy, acquisitions, dispositions, financing. Developed and mentored a first-class team of industry recognized professionals. Executed with passion, excellence, transparency, and unwavering integrity. Completed real estate transactions totaling more than $8 Billion.
Retired REIT Executive – 2019
Kenneth S. Lamy
Principal
An internationally recognized, results-driven professional with 35-plus years of deep experience in CRE / Retail real estate. Lamy is considered a global subject matter expert on retail leases, including rent, sales analysis, revenue/data verification, benchmarking, restaurant operations analysis consulting, lease language consulting, analytics and retail sales, compliance, and specialty examinations. Ken created EXETER™ Retail DataHub, a proprietary PropTech platform available to clients. Lamy’s clients include CRE retail owners, managers, developers, REITS, Realty Advisors, etc. throughout North America & the Caribbean. In his practice, Ken also advises on key lease provisions on rent, sales reporting, and related concerns. Lamy Group clients (Private & Public) include the “who’s who” of CRE / Retail property owners, managers, developers, REITS, and realty advisors operating throughout North America & the Caribbean, representing thousands of assets and over 1 billion square feet of GLA. Ken is a long-time volunteer, lecturer, and instructor for the ICSC, Urban Land Institute (ULI), National Association of Real Estate Companies (NAREC), Institute of Real Estate Management (IREM),) and the National Association of Real Estate Investment Trusts (NAREIT). Ken is also a long-time faculty member in the ICSC’s John T. Riordan School and the (former) University of Shopping Centers (Wharton School) and has been named in key leadership roles and contributor to countless other ICSC initiatives. Lamy holds the Certified Retail Real Estate Professional (CRRP) and Certified Retail Property Executive (CRX) ICSC designations and was awarded the ICSC’s prestigious Trustees’ Distinguished Service Award in May 2004.
Michael McNaughton
Principal
A 30+ year veteran of the commercial real estate industry. Now based in Jacksonville, FL, his experience is nationwide, developing and driving complex projects forward through innovation and relationships.
At his core, McNaughton is a strategist. He sees trends ahead of the curve and designs and develops places that people want to be. He believes that the need for reinvention and staying relevant is constant, as retail is ever-changing. A contributor to the books, Rebuilding Lower Manhattan, New York City and Ten Principles for Re-Thinking the Mall, both published through the Urban Land Institute and still pertinent today.
McNaughton founded M2 Real Estate Advisors, a firm that is well-positioned to offer both advisory and hands-on deliverable project/process management and investment services and is also a Principal of RealtyLink, LLC, a fully integrated investment and development platform. Previous senior leadership positions were with Sleiman Enterprises (COO), US Westfield (SVP US Development), WS Development (SVP), Rouse Properties (COO & Founder), General Growth Properties (EVP) and founding member and partner of Coro Realty Advisors, LLC.
Robert L. Thatcher
Principal
Award winning, shopping center executive with 30+ years of retail real estate operational experience executing the role of General Manager/Director of Leasing of enclosed regional malls, open-air centers & free-standing assets. He has commercial construction experience as a General Contractor & Project Manager. He is an NOI-FFO-EBITDA Specialist with P&L responsibilities, staff management, Tenant, Government & Media Relations, Sales & Marketing, Public Safety/Loss Prevention, CapEx planning & administration. A Certified Leasing Specialist (CLS) he historically negotiated executed 100+/- leasing transactions/annum, including major national chain/anchor transactions. Robert has developed a highly unique forte’ of maximizing so called “B & C properties” in secondary/tertiary markets. Thatcher is one of perhaps twelve shopping center professionals globally, to earn all six (6) professional certifications (CRRP, CRX, CSM, CLS, CMD, CDP) conferred by the International Council of Shopping Centers (ICSC.org). He received the ICSC Trustees’ Distinguished Service Award for Meritorious Service in 2017. He remains an ICSC Ambassador, and an International Faculty Member of the ICSC John T. Riordan School for Retail Real Estate Professionals and RECon Academy teaching: Accounting, Budgets, Lease Administration and Basics of Operations to maximize Net Operating Income. He holds Independent Real Estate Broker Licenses in Indiana and Michigan; and is a “qualified” State Certified General Appraiser, w/ extensive experience valuing assets & structuring successful RETax Appeals. He has been Featured in Fortune Magazine, CNN Money and the Indiana State Chamber Biz-Voice Magazine on the topic of adaptive reuse of Gross Leasable Area (GLA) in retail real estate.
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Phone
Address
19 Windemere Place
Grosse Pointe Farms, MI 48236