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Temporary Leases Gain in Popularity

SEATTLE-Mike Olsen, a Seattle real estate broker for Staubach Co., sees a trend toward temporary leasing among retailers wanting to take advantage of a particular season or a short-term sale.

By Ingrid Ricks | Updated on October 30, 2000

SEATTLE-For Seattle real estate broker Mike Olsen, Halloween starts in May. For the past five years, the broker for Dallas-based Staubach Co. has been scouting and securing key temporary locations for Spirit, a nationally-based retailer that focuses exclusively on Halloween and only needs space for the three-month period between Mid-August and mid-November. This year, the company wanted eight locations throughout the Puget Sound and Portland, each in the range of 12,000 sf to 15,000 sf.

It’s a job that Olsen, who typically represents traditional long-term tenants, has found both rewarding and challenging – but one he sees as growing trend among retailers looking to capitalize on a certain holiday or retail event. “Temporary leasing is nothing new, but I see an increasing number of retailers taking advantage of holiday seasons or special retail events on a temporary basis,” says Olsen. “Specifically around Halloween, I know of two local competitors that have started their own temporary Halloween stores in the Puget Sound area.”

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