Terrence Tallen
Co- Founder & Co-Owner
Terrence is the Co-Founder and Co-Chief Executive Officer of Tallen & Keshen Holdings, LLC (TKH), Retail Enterprise Group, Inc. (REG) and other related companies. Terrence is a national markets industry veteran who has established a track record of accomplishment and leadership in retail and mixed use real estate investment, acquisitions, development, redevelopment and leasing.
Terrence served as a senior executive with several large public and private retail real estate owners in the United States. He has strategized, implemented and directed the development, repositioning, value creation and leasing of over 350 community, power, neighborhood, regional malls, entertainment centers, and single tenant facilities, comprising approximately 35,000,000 sq ft of GLA.
During his tenure in Institutional Real Estate with two public Real Estate Investment Trusts (REITs), he also served as Vice President of the California Public Employees Retirement System/Burnham Pacific Properties Co-Investment Partnership Venture as well as CUIP (CalPERS Urban Investment Partnership). He maintains enduring relationships with national and regional retailers, municipalities, lenders, equity providers and the retail brokerage community.
Terrence is an expert on retail leasing and has led several of the most productive retail leasing teams on the West Coast over the last two decades. From 1995-2001 under his direction, the leasing teams he developed had completed approximately 4,000,000 square feet of new and renewal leases. He is known for assembling top level leasing talent, providing the necessary functional tools, professional training and motivational management to allow the leasing professionals to enhance their skills and relationships in order to achieve significant results.
He is known for successfully completing distressed asset turnarounds with a determined and focused passion for achieving 100% occupancy and from 1993-2005 Terrence has leased or directed the leasing of approximately 175 retail properties to 100% occupancy.
Terrence co-founded Tallen & Keshen Holdings, LLC (TKH) in 2001 with Mary Anne Keshen and has formed a number of profitable real estate partnerships and joint ventures. From 2001-2010, TKH successfully executed upon a specific targeted strategy to develop, redevelop and reposition retail projects in high growth corridors as well coastal markets with high barriers to entry. In 2006, TKH completed the development of the first Walmart store located on the historic Monterey Peninsula (Marina, CA). TKH has successfully orchestrated a business plan to acquire dark big boxes and retailer's surplus properties and has leased and repositioned these properties into long term portfolio investments.
In addition, a number of Tallen and Keshen's projects have been recognized by the industry for their contributions in repositioning retail assets including the Gateway Retail Center, Marin City, CA which the San Francisco Business Times named as the "Best New Retail Deal" for 2003. Through their wholly owned brokerage subsidiary, Retail Enterprise Group, Inc., he negotiated the acquisition of the Gateway Retail Center from a public REIT and was instrumental in negotiating a "double bottom line" Joint Venture between a local non-profit and the Bay Area Smart Growth Fund to acquire the property. During REG's tenure on this formerly blighted project, REG dramatically improved the positioning of the property in the marketplace by negotiating the buy out of numerous unfavorable tenant's leases, procured key new leases from numerous regional and national tenants. REG increased property level occupancy to 97% in 2008 and nearly doubled the value of this asset over a 5 year period.
TKH has developed or acquired a number of well located projects in the Bay Area including a free standing Fresh and Easy and Napa Tahoe Specialty Retail Development, LLC in Fairfield, CA. TKH has also redeveloped and repositioned numerous antiquated automotive dealerships into successful retail projects. In 2008-2009, TKH rezoned the Ukiah Gateway Plaza, achieving key entitlements and sold its 15 acre site and a proposal from Costco to the City of Ukiah, CA RDA. TKH is currently involved in new projects in the greater Phoenix, AZ marketplace.
Burnham Pacific Properties REIT (BPP: NYSE). From 1998-2001 Terrence served as a Corporate Officer and National Vice President of Leasing for Burnham Pacific Properties in San Francisco, CA. At BPP he was responsible for national portfolio leasing, repositioning and redevelopment of 115 regional, community, neighborhood, power, lifestyle and specialty retail properties comprising 13,500,000 sq ft of GLA with a $1B market capitalization. At the time, BPP was the largest owner of retail properties based on the West Coast. Terrence realigned and hired a new 20 person staff as well as various third party national and regional brokerage firms, implemented a successful and streamlined regional management system, developed new policies and procedures and directed corporate value creation objectives. This division procured, negotiated and closed over 1,000 leasehold transactions, comprising in excess of 3,100,000 square feet of new and renewal leases. Under his direction, the leasing team increased portfolio occupancy from 90.8% to 96.5% and leased 62 of the 115 shopping centers to a 100% occupancy level during his 34 month tenure at BPP.
Watt Commercial Properties (Privately Held). From 1996-1998, Terrence served as a Corporate Officer and Vice President of Watt Commercial Properties in Santa Monica, CA. He had the benefit of working with industry leaders Ray Watt and Jim Maginn and was the executive responsible for directing all portfolio asset leasing, value creation and new business development including third party brokerage and tenant representation services. He also was a team member that identified new development and venturing opportunities for the company. Terrence had Profit & Loss responsibilities and directed all leasing division activities for 43 regional, community and power centers, managing the in-house leasing staff and all outside brokerage activities. Through his leadership, policies and procedures and deal making skills, this profitable and streamlined in house leasing division increased portfolio occupancy from 92% to 97% and brought 28 of the 43 retail centers, each with more than 100,000 SF of GLA, to 100% occupancy during a 17 month period.
Alexander Haagen Properties REIT (ACH: AM EX). From 1994-1996, Terrence served as a Corporate Officer and Senior Leasing Director for ACH in Manhattan Beach, CA. In 1994, Terrence was recruited by ACH to relocate from Florida to Southern, CA for this newly formed REIT in order to affect top level retail deal making and leasing operations. Terrence realigned the staff, implemented new leasing policies and procedures and dramatically increased leasing production over prior years. He directed a company leasing record of 665,000 square feet of new leases at or above proforma rents during a twenty (20) month period. He also was instrumental in the highly successful "earn out" on behalf of the REIT predecessor group, creating in excess of an estimated $50 million in operating partnership stock value. Through his leadership, portfolio occupancy increased from 90% to 97% and achieved 100% occupancy in 24 shopping centers during a 20 month period.
The Sembler Company (TSC) (Privately Held). From 1990-1994 Terrence was employed by The Sembler Company in St Petersburg Florida, the premier owner and developer of shopping centers in the Southeastern United States. Company Founder, Mel Sembler is a former ICSC President, and three (3) term U.S. Ambassador and served as National Finance Chairman for the RNC. Terrence was the top producing leasing professional in the firm during his tenure, he expanded the company's third party leasing business and created a tenant representation practice for TSC.
Lewis Property Investors (LPI) (Privately Held). From 1986-1990, Terrence served as Vice President and a Regional Development Partner for Lewis Properties Investors in Tampa, Florida. He served as a member of the development team for the Overseas Market, a festive marketplace that was the first major retail development in Key West, FL in over 30 years. He directed all portfolio leasing and increased portfolio occupancy from 90% to 97%.
Prior to entering the commercial real estate industry, Terrence held positions and was recognized as the top producer with several Fortune 500 companies including the Pepsi Cola Bottling Group and Esmark/Beatrice Foods. In 1984, he was awarded the Pepsi Cola Bottling Company award for Marketing Excellence as a result of winning the national Food Service Division new account sales contest.
Terrence is a senior member of the Urban Land Institute (ULI), the International Council of Shopping Centers (ICSC), member of the Editorial and Advisory Boards of Shopping Center Business Magazine and Western Real Estate News, a frequent speaker at numerous retail real estate, sports and collegiate conferences and events and is a resource to various industry publications. Terrence serves as a mentor in the ICSC mentoring program helping guide young professionals in the industry. He authored the "Power of Creativity & Value Creation" for Retail Traffic Magazine. He also serves on the Advisory Board for the Kelly School of Business Benecki Center for Real Estate Studies at Indiana University.
Terrence holds a BS from Indiana University's Kelley School of Business in marketing and management with a minor in finance. He was awarded a full athletic football scholarship and was twice elected varsity football team co-captain including captain of the 1979 Holiday Bowl Championship football team contributing to IU's ranking of 16th in the Nation. Terrence is one of the few players in the history of modern college football to be twice elected co-captain of winning major college football teams. He was considered one of the top defensive linemen in college football in 1979 and was named Midwest Defensive Player of the Week for his play in IU's Homecoming shutout victory of Wisconsin in 1980. Mr. Tallen was coached by ESPN College Football Game Day personality, Lee Corso.
In 2008, he endowed the "Terry Tallen Football Leadership Scholarship" which is granted annually to an IU football team captain who has demonstrated strong leadership qualities on and off the playing field and is enrolled in the Kelly School of Business. He served on the steering committee for the redevelopment of IU's Memorial Stadium. In 2004, Terrence was inducted into the Hamilton Badin High School Athletic Hall of Fame. He was team elected captain the Ohio All Star South Squad in 1977.
Along with Board Member Mary Anne Keshen, he is a sustaining member of the American Cinematheque, a large LA based international film charity. In addition, Terrence supports projects for the Marin City Sports Zone, a local charity providing after school sports and leadership activities for needy and under privileged children as well as serving as a donor at Cedars Sinai Hospital in Los Angeles.
Hobbies include: travel, golf, hiking and he resides between Mill Valley and Los Angeles, CA. |
