The leases a retailer signs with a shopping center or mall seem like a fairly straightforward legal document. Right?
Not so for Steve Morris, who saw all sorts of inconsistencies, issues, negligence and opportunities for savings in the fine print and the practices of landlords. While he was senior vice president of the L Brands real estate and store planning division, Morris dug into thousands of leases and found issues. As a result, he and his team of lease detectives saved the iconic local retail giant $150 million. In the process, they became pioneers who changed the way shopping center leases are drawn up.