Richard N. Schermer, a partner at Pathman Schermer Tandy, LLP, has practiced law for over 30 years. He is the leader of the firm’s real estate practice and its retail development group, a multi-disciplinary, collaborative team of attorneys. The firm’s real estate practice is highly sophisticated, handling a broad range of real estate acquisitions, development, financing, leasing and related matters and the retail development group specializes in all areas of industry specific retail development matters including acquisition, development, leasing, financing, land use and zoning, brokering, and enforcement of all retail development agreements for all forms of real estate offering a retail component.
Prior to joining the firm, Richard led the Florida real estate practice of a large national firm and chaired its National Retail Development Group. He represents developers, investors, lenders and users of commercial real estate (institutional, mid-size and entrepreneurial clients) in the acquisition, financing, development, leasing and sale of all types of real estate projects and developments across all asset classes.
Richard also specializes in the preparation of restrictive covenants and operating agreements for commercial developments and analysis of title to real estate. His practice includes restructuring and workouts of troubled financing related to these types of projects, representing lenders and owners throughout the process. He is an authorized agent and signatory for several national title insurance companies.
Richard delivers efficient, cost-effective and responsive service to clients in today’s highly competitive environment as a result of his extensive experience and thorough understanding of the commercial real estate business.
Richard has significant experience in sophisticated commercial transactions and particular expertise in the area of retail development and shopping center law. Having negotiated and drafted numerous purchase and sale agreements, financing and CMBS documents, leases (shopping centers, malls, street retail, build-to-suit leases, and ground leases) and reciprocal easement and operating agreements and site development agreements for some of the most prestigious shopping centers in the country, large grocery anchored centers, mixed-use projects and major single tenant projects, he has a deep knowledge of the acquisition, disposition, development and leasing issues, and provides clients entering into these types of transactions with an understanding of the standards and customs associated with obtaining maximum benefits and protections. At the same time, he remains sensitive to the nature of the marketplace and the need to continuously advance toward the closing of a deal.
Richard regularly lectures on commercial real estate topics including shopping center acquisition, development financing and leasing. He served for several years as a member of the Florida Program Planning Committee of the International Council of Shopping Centers (ICSC) and has chaired several ICSC programs for the Miami-Dade Chapter. He was also a member of the editorial board of the ICSC’s monthly publication, Retail Law Strategist.
Richard was selected by his peers for inclusion in the 2014-2022 editions of the Best Lawyers in America in the area of Real Estate Law and named among the Most Effective Lawyers by the Daily Business Review in 2005, due to his role as lead real estate counsel in several of the largest and most significant real estate transactions in Florida.
Richard is a 1982 cum laude graduate of Florida State University, where he majored in business management. He earned his Juris Doctor from the University of Florida in 1986.
Articles & Presentations
- Commercial Landlord Tenant Law and Lease Enforcement During the COVID-19 Crisis, Dade County Bar Association, 2020
- Roundtable Discussion Leader at ICSC, Open Air Conferences, South Florida Conference and National ICSC Deal Making Conference, 2011, 2012, 2013 and 2016
- ‘Florida Lease Enforcement Actions, Remedies and Defenses,’ presentation to the Institute of Real Estate Management, 2012
- Quoted on loan workouts in South Florida Real Estate Journal, 2009
- ‘Developing and Implementing an Effective Loan Workout Strategy,’ presentation to the ICSC Florida Conference, 2009
- ‘Mixed-Use Projects,’ presentation to the ISCS Florida Conference, 2007
- ‘Working with Outside Counsel,’ presentation to the ICSC US Shopping Center Law Conference, 2006
- ‘How to Stop Delays – Streamlining the Lease Negotiation Process,’ presentation to the ICSC Florida Conference, 2006
- ‘Ground Lease, Restaurant and Outparcel Issues,’ presentation to the ICSC US Shopping Center Law Conference, 2004
- ‘Leasing to National Franchise Tenants’
- ‘Legal Issues in Retail Leasing in Florida – Construction, Operation and Reciprocal Easement Agreements’
- ‘Restaurant Leasing Issues’
- ‘The Hit List of Retail Leasing Issues That Always Seem to Get Negotiated’
Acquisition/ Loan Transactions
$8 Million Acquisition and Financing
Project: Multi-Site and Multi-State Portfolio Triple Net Leases to Denny’s Restaurant
Client: Buyer
$15.7 Million Acquisition and Financing
Project: Acquisition of Portfolio of Multi-State Triple Net Leases to various credit tenants
Client: Buyer
$81 Million Acquisition Loan
Project: 6-County, 14-apartment complex purchase, including $69.3 million CMBS and Mezzanine Financing Package
Client: Buyer
$8.5 Million Construction Loan
Project: Finance Development of Wal-Mart
Client: Developer
$21 Million Construction and Development Acquisition Loan
Project: Publix Supermarkets
Client: Developer
$3.3 Million Acquisition Loan
Project: Multi-Tenant Shopping Center in Tampa, FL
Client: Buyer
$4.5 Million Construction Loan
Project: Wal-Mart Grocery Anchored Shopping Center
Client: Developer
$18 Million Acquisition of Aventura Shopping Center
Client: Buyer
$5.920 Million Acquisition of North Miami Shopping Center
Client: Buyer
$4.1 Million Acquisition and Loan for Neptune Beach Walgreens site
Client: Buyer
$3.250 Million Acquisition and lease of North Miami gasoline station and convenience store
Client: Buyer
$12 Million Loan
Project: Line of Credit
Client: Borrower
$6 Million Note Sale
Client: Lender
$15 Million Construction Loan
Project: Hotel, Delray Beach, FL
Client: Lender
$26.8 Million Loan Modification
Project: Airport Hangars, Opa Locka, FL
Client: Borrower
$68.8 Million Refinance Loan
Project: Office Buildings, South Florida (4)
Client: Lender
$53 Million Acquisition and financing of Aventura Office Building
Client: Buyer
$19 Million Refinance Loan
Project: Restaurants, Multiple States
Client: Lender
$52 Million Loan and Acquisition
Project: Office Building, Aventura, FL
Client: Buyer
$5.2 Million Sale
Project: Bank Site, Pembroke Pines, FL
Client: Seller
$100 Million + Sale
Project: Hospital, Miami, FL
Client: Seller
$14 Million Acquisition and Purchase
Project: Shopping Center, Aventura, FL
Client: Buyer
$1.7 Million Acquisition and Lease of PNC Bank site
Client: Buyer
$17.44 Million Refinance Loan
Project: Apartments, Alachua County, FL
Client: Lender
$5 Million Short Sale
Project: Condos, Orlando, FL
Client: Borrower
Deed-In-Lieu of Foreclosure
Project: 180 Unit Bulk Sale Condo, Orlando, FL
Client: Borrower
Deed-In-Lieu of Foreclosure
Project: 40 Unit Bulk Sale Condo, Orlando, FL
Client: Borrower
$8.3 Million and $12 Million Refinance
Project: Office Building, Miami, FL
Client: Borrower
$12.5 Million Acquisition
Project: Office Building, Tampa, FL
Client: Buyer
$4 Million Acquisition
Project: Vacant Land, Tampa, FL
Client: Borrower
$3.3 Refinance Loan
Project: Office Building, Miami, FL
Client: Borrower
$6.7 Million Refinance Loan
Project: Shopping Center, Tampa, FL
Client: Lender
$17.0 Million Acquisition and Loan
Project: Office Building, Miramar, FL
Client: Lender
$2.95 Million Sale
Project: Horse Farm, Ocala, FL
Client: Seller
$3.4 Million Acquisition and Construction
Project: Drugstore, Amite, LA
Client: Lender
$24.5 Million Sale
Project: Apartment Complex, Miami, FL
Client: Seller
$4.0 Million Sale
Project: Condominium Units, Wellington, FL
Client: Seller
$5.7 Million Acquisition and Loan
Project: Office Building, Tampa, FL
Client: Borrower
$45 Million Refinance Loan
Project: Shopping Center, North Miami, FL
Client: Borrower
$15 Million Refinance Loan
Project: Shopping center, Destin, FL
Client: Borrower
$375 Million Equity Interest Sale
Project: Fontainebleau, Miami Beach, FL
Client: Seller/Owner
$2.561 Million Acquisition and Ground Lease
Project: TD Bank Site, Davie, FL
Client: Buyer/Landlord
$19.1 Million Refinance Loan
Project: Shopping Center, St. Lucie West, FL
Client: Lender
$14 Million Acquisition and Loan
Project: Shopping Center, Jacksonville, FL
Client: Buyer/Borrower
$12.4 Million Construction Loan
Project: Condominium, Destin, FL
Client: Borrower
$27.5 Million Construction Loan
Project: Apartment Complex, N. Lauderdale, FL
Client: Lender
$1 Million Construction Loan
Project: Shopping Center, Boca Raton, FL
Client: Lender
$41 Million Refinance/Construction Loan
Project: Shopping Center, Davie, FL
Client: Borrower
$22 Million Construction Loan
Project: Condominium, Destin, FL
Client: Borrower
$39 Million Refinance/Construction Loan
Project: Shopping Center, Destin, FL
Client: Borrower
$20 Million Acquisition
Project: Hospital, Ft. Lauderdale, FL
Client: Buyer
$430 Million Refinance
Project: Aventura Mall, Aventura, FL
Client: Borrower
$15 Million Mezzanine Loan
Project: Aventura Mall, Aventura, FL
Client: Borrower
$275 Million Acquisition
Project: Fontainebleau Resort, Miami Beach, FL
Client: Buyer/Borrower
$140 Million Acquisition
Project: Turnberry Isle Resort and Country Club, Aventura, FL
Client: Buyer/Borrower
Leasing Transactions
Richard N. Schermer has nationally recognized expertise in commercial/retail leasing and negotiation and preparation of easement and operating agreements (“REA’s”). Richard has negotiated leases and REA’s with many well-known retail, office and commercial tenants. A representative list of tenants is attached hereto as Appendix “A”. Other representative leasing transactions include the following:
- Negotiation of leases for Aventura Mall—Aventura, FL
- Negotiation of leases for Fresh Market Shopping Center—Aventura, FL
- Negotiation of leases for Tower Shoppes—Davie, FL
- Negotiation of leases for Mary Brickell Village—Miami, FL
- Negotiation and preparation of the lease for the new headquarters of a large healthcare company—Orlando, FL
- Leasing of the Streetscape expansion at Monroeville Mall—Monroeville, PA
- Negotiation of sublease and development agreements in connection with leasing for the development of hangars and facilities for a charter jet business—Opa Locka Airport, Opa Locka, FL
- Negotiation of leases on behalf of Southland Mall—Cutler Ridge, FL
- Negotiation of leases for Millenia Shopping Center—Orlando, FL
Retail Leasing Transactions
- 2 Connect Express
- 7/11 Stores
- 24 Hour Fitness
- 50 Rio
- 67 Wine and Spirits
- Abercrombie & Fitch
- Abercrombie & Kids
- Advance Auto Parts
- Aeropostale
- Airport Wireless
- Anika
- Ann Taylor
- Antik Art (Me Lou II Inc.)
- Apple Store
- Applebee’s
- Armani
- Arquitectonica
- Ashley Furniture
- Asian Fusion
- AT&T Wireless
- Atlantic Homestead Village
- Au Bon Pain
- Auntie Anne’s
- Aveda
- Aventura Pizza/Salsa Garden
- B.C. Collectibles
- Babbages (Funco/Game Stop
- Baby Gap
- Baby Turtle (Jacardi)
- Balans, LLC
- Banjoe’s
- Baker’s
- Balizza of Aventura
- Bally’s Total Fitness
- Banana Republic (The Gap)
- Bank United
- Baptist Book Store
- Baptist Health Enterprises
- Barbara Palacios Design Co.
- Barnes and Noble
- Bath & Body Works
- BeBe
- Bed, Bath and Beyond
- Belis USA, Inc.
- Bella Brazil
- Ben & Jerry’s
- Bella Donna at Brickell, Inc.
- Bentley’s Luggage
- Best Buy
- Betsy Ann Candies
- Big Lots
- Bijoux Terner
- B.J.’s Wholesale Club
- Blockbuster
- Blue Martini
- Bob Evans
- Borders
- Brighton
- Brooks Brothers
- Brookstone
- Brother Jimmy’s BBQ Restaurant
- Bruegger’s
- Buffalo Wild Wings
- Build-a-Bear
- Burgers and Beer Restaurant (B&B)
- Burger King
- Cache, Inc. (Lillie Rubin)
- Cajio’s Cuban Cuisine
- Café Ritazza
- Camelot Music
- Carino’s Restaurant
- Castings Paris
- Casual Corner
- Cavas Wine Tasting Room
- Charcoal’s Latin Grill
- Charlotte Russe
- Charley’s Steakery
- Chase Bank
- Checkers
- Cheesecake Factory
- Chick-Fil-A
- Chico’s
- Chico’s – Destin Commons
- Click’s
- Circuit City
- Citibank, N.A.
- Clean and Green
- Coldstone Creamery
- Cosi
- Costco
- Crabtree and Evelyn
- Crepemaker
- CVS
- D’Platta and Compliments
- David’s Bridal
- Denny’s
- Dick’s Sporting Goods
- Different Concept, LLC
- DOC Optical
- Dog Bar
- Dollar Tree
- Domain
- Doraku Sushi Restaurant
- DOTS
- DSW Shoe Warehouse
- DuClaw Restaurant
- Dunkin Donuts
- Dryclean U.S.A.
- EA Lingerie (International Lingerie)
- Eagle Drycleaners
- Earl of Sandwich
- Eat n Park
- Einstein Bagels
- Electric Boutique
- English Concession
- Equinox Spa
- Essence Shoes
- Esslinger-Wooten-Maxwell
- Expressway Toyota
- Factory Card Outlet
- Fashion Bug
- Family Dollar
- Fat Tuesdays
- FedEx Kinko’s
- Finish Line
- First Class Seats
- Five Below
- Fleming’s
- Florida Pritikin Center
- Florsheim Shoes
- Frantz Lallament Esthetic
- Fresh Market, The
- Frida’s Armoire
- G&G Retail, Inc. (Rave Girl)
- Gamma Enterprises
- Ganache Chocolate
- Gap
- Gap Kids
- Gap, Inc. (Old Navy)
- Garden Botanika, Inc.
- Gemstone Jewelry, Inc.
- General Nutrition Corp. (GNC)
- Giant Eagle
- Giant Foods
- Gloria Jean’s Gourmet Coffee
- Gold Concepts
- Golf America Stores
- Gordon’s Jewelers
- Graphline Inc.
- Green Leafs & Bananas
- Gym Source
- Gymboree Retail Stores
- Hair Cuttery
- Hard Rock Café
- Harmony Pharmacy
- Hat World
- Hemisphere Bank
- HH Gregg Appliances & Electronics
- Home Depot
- Hollister
- Hometown Buffet
- Household Finance
- Hudson News
- I Tech Experience
- IHop Restaurant
- Illy & Vinea
- Italia Independent Eyewear
- Italiano Home Store
- J.C. Penney
- J. Crew
- Jernigan’s Enter.
- JGB Bank
- Johnny Carino’s Restaurant
- Johnny Rockets
- Johnston & Murphy
- Joan and David
- Juiceblendz
- K-Mart
- Karma Kreations
- Kay Jewelers
- KB Toys
- Kelco Management
- Kentucky Fried Chicken
- Kinko’s
- L.A. Fitness
- L.L. Bean
- Lane Bryant
- Las Ramblas Assoc.
- Le Rendez-Vous Bakery
- Leather Collection
- Leather Collection Furniture
- Leather Land
- Lechters
- Legal Seafood
- Lenscrafters
- Lerner’s New York
- Let’s Talk Cellular
- Littman Jewelers
- L’Occitane
- Loehmann’s
- Lowes
- Luria
- LX Studio
- Mail Boxes, Etc.
- Maraolo
- Marks Bros. Jewelers
- Martin King Jewelers
- Marshalls
- Massage Envy
- Mastercuts
- Mattress Discounters
- Mayorga
- McDonald’s
- Men’s Warehouse
- Merrill Lynch
- Milam’s Supermarket
- Moda G
- Mortar and Pestle Pharmacy
- Nail Salon
- National Record Mart
- Naturalizer
- Natuzzi Leather Furniture
- Nine West
- Nordstrom’s
- Off Broadway Shoes
- OfficeMax
- Old Navy
- Olive Garden
- Office Depot
- Oriental Delight, Inc.
- Original Pancake House
- O’Reilly’s Automotive
- Oxxo Cleaners
- Palm Restaurant
- Panera Bread
- Panini’s Bar and Grille
- Party City
- Pasta Express
- Paul Harris Stores
- Pavignani Cecciarelli
- Pearle Vision
- Peebles
- Pennsylvania Fashions
- Pepperidge Farms
- Perfume Studio
- Pet Plus
- Pet Smart
- Pet World
- Petite Sophisticates
- PetSmart
- Pier One Imports/Cargo Kids
- Piercing Pagoda
- Pinkberry Yogurt
- Pirate’s Clubhouse
- Planet Body
- Pollo Campero
- Ponderoaster
- Ponderosa
- Premamon
- Prints Plus, Inc.
- Publix Supermarket
- Quizno’s
- Radio Shack
- Rainbow USA
- Redbox
- Redstone American Grill
- Regis Hairstylists
- Relax The Back
- Rice & Noodles Express
- Riser Foods
- Ritz Camera
- Robterry
- Roma Gelato
- Rosalia’s
- Ross Stores
- Salads 4 U 2
- Sam Goody
- Save A Lot
- Sbarro’s
- Sears
- Sephora America
- Shoe Show
- Silver Diner
- Skechers
- Sleepy’s
- Smart Carte
- Soma
- Speedo Authentic Fitness
- Spencer Gifts (Dapy)
- Staples
- Starbucks Corp.
- Steak N Shake
- Steps New York
- Steven Madden
- Stir Moon Thai Restaurant
- Stocking Den
- Stride Rite Corporation
- Studio Movie Grill
- Subway Stores
- Suncoast Motion Picture
- Sunglass Hut
- Surrey’s Mens Store
- Swarovski Retail
- Sweets from Heaven
- Swifty Serve
- T. Mobile
- T.J. Maxx
- Taco Bell
- Target
- Taverna Opa Restaurant
- Taxco Sterling
- TCBY Yogurt
- TD Bank
- Tech Showcase
- The Limited
- The Mattress Firm
- The Original Cookie Company
- The Walking Store
- Things Remembered
- Toscano Divino Restaurant
- Trader Joe’s
- Traffic Shoes
- Travelex Currency Services
- Trend D. Shoppe
- Tweeter (includes Sound Advice)
- Turnberry International Realty
- Ulta Salon and Cosmetics
- Uni K Wax (Llaneza Investments, LLC)
- Urban Pilgrim
- Verizon Wireless
- Vertigo
- Villa Italian Kitchen
- Virgin Music & Books
- Vitamin Shoppe
- Vitamin World
- Viva Restaurants, Inc.
- Walden Book Company
- Walgreens
- Wal-Mart
- Watchworld International
- Wawa
- Weiss and Neuman (Bakers Shoes)
- Wendy’s Restaurant
- Wentworth Gallery
- White House Black Market
- Wet Seal
- Whole Foods Market
- Wilsons The Leather Experts
- Winn Dixie Stores
- Wok & Roll
- Wolf Camera
- Wolfgang Puck
- ZpresSpa
- Zakarin Publix Relations, Inc.
- Zaks
- Zale Corporation (Gordon’s)
- Zoom Systems
Office Leasing Transactions
- Bank of America
- Careers USA, Inc.
- Cato Corporation
- Citibank, N.A.
- Dean Witter
- Glimcher Group
- Innovation Park
- National City Bank
- Northern Trust Bank
- Partners HealthCare
- PNC Bank, N.A.
- Standard Parking
- University of Pittsburgh
- Washington Mutual
- World Savings