Sacks Tierney P.A.

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Lambda Alpha International (LAI) Land Economics Society

 

Medical Marijuana. On January 4, Janet Jackim commented for Channel 12 News on the Justice Department's decision to rescind the policy that allowed for the sale and use of medical marijuana.

Janet E. Jackim

Janet Jackim is a former Vice President, Real Estate, and Assistant General Counsel at The Circle K Corporation.

During three decades as a commercial real estate and business attorney, Janet has represented developers, lenders, landlords, tenants, franchisees, and cannabis enterprises in real estate and other business transactions. The Best Lawyers in America® honoree has completed more than $1 billion in mergers and acquisitions (sales price) of large and small businesses.

Practice Areas

Real Estate Law

Business and Corporate Law

Marijuana Business Law

Loan Workouts

Honors and Awards

AV-Preeminent® Rating, Martindale-Hubbell®

The Best Lawyers in America, Real Estate Law, 2018

“2006 Leading Lawyers,” Phoenix Business Journal

Representative Transactions

Represented the acquirer and affiliates in a series of transactions for the takeover of a medical marijuana dispensary and its cultivation facility, kitchen, and management team. Obtained the dispensary’s emergence from a receivership, prosecuted claims, favorably settled litigation, and restructured its debt.

Prepared and negotiated complex commercial leases, loans, partnership agreements and vendor contracts for businesses in the cannabis market.

Responsible for the aggressive growth and turnaround pre-and post-bankruptcy of The Circle K Corporation’s real estate portfolio. Built strategic business plan for the company’s 25 geographic markets, requiring site-by-site analysis (financial, real estate/location demographics, and capex requirements). Led nationwide 50-person real estate sales staff and back office administration group of 100-200 employees for the purpose of selling 2,500 REOs, resulting in $100 million cash. Assessed company’s 6,000 real estate holdings (convenience stores, gas operations, office buildings, warehouses, vacant land and buildings, and speculative land deals) for profitability. Closed and sold 2,500 under-performing properties. Renegotiated 1,500 commercial leases to produce $15 million in annual rent savings.

Negotiated commercial stabilization loans, loan workouts and bankruptcy resolutions on behalf of lending institutions, FDIC affiliates and commercial borrowers. Conducted trustee’s sales, initiated litigation enforcing commercial loan transactions, defended litigation for receivership appointments and loan defaults, and prepared forbearance and other settlements.

Through administrative and litigation proceedings, prosecuted municipal zoning actions that wrongfully discriminated against cannabis businesses.

As a result of her knowledge of market rents in the cannabis industry, attained for a property owner more than three times the tenant’s offered rent for a dispensary and cultivation site and negotiated other pro-landlord lease provisions.

Professional Activities

State Bar of Arizona

Colorado Bar Association

Maricopa County Bar Association: Chair, Real Estate Section

Lambda Alpha International (LAI) Land Economics Society, Phoenix Chapter

Arizona Cannabis Bar Association: Secretary

CoreNet Global, Phoenix Chapter

Arizona Business Brokers Association: Member; Secretary/Board of Directors, Central Chapter, 2013

Bar Admissions

Arizona, 1986

Colorado, 1978

Articles

Trump Agreement with Colorado Senator a Positive Sign for the Cannabis Industry, Sacks Tierney Client Newsletter, April 2018

HOA Boards: Don’t Write Off Delinquent Assessments of Owners or Their Foreclosing Lenders! Common Ground, Community Associations Institute, September/October  2016

Unclaimed Death Benefits: What Life Insurance Companies Know (But You Might Not), Sacks Tierney Client Newsletter, August 2016

Due Diligence in Buying Commercial Real Estate: Acreage, Apartments or a Building, Sacks Tierney Client Newsletter, February 2015

10 Commonly Overlooked Clauses in Commercial Real Estate Transactions, Sacks Tierney Client Newsletter, October 2014

Presentations

Due Diligence ‘Best Practices’ in Real Estate Transactions,” April 2018

Strategies and Practices in Lease Renegotiations: Learning to Leverage,” February 2018

“Fundamentals of Corporate Real Estate – CoRE – Facility Management and Sustainability,” Real Estate Club, W.P. Carey School of Business, Arizona State University, January 2018

“A Junkyard Dog’s Perspective on Distressed Commercial Real Estate Today”

“Real Estate Due Diligence 101”

“Landlord’s Lease is How Many Pages? 101 Practice Tips for Negotiating a Tenant-Friendly Lease”

“Tenants in Trouble”

“Commercial Leasing”

“Negotiating Leases” and “Renegotiating Leases”

“The Emergency Economic Stabilization Act”

“Navigating Economic Headwinds”

“Exclusive Authorization for Sale or Lease of Real Property”

“Buyer/Lessee Agency Agreement”

“Saving Luke Air Force Base through Land Exchanges”

“The Circle K Bankruptcy Experience: Coming Full Circle From Ashes to IPO”

Publications

State by State Guide to Construction and Design Law (Author, Arizona Supplement), American Bar Association, April 2009

Community Leadership

ATHENA Award Finalist, Phoenix Chamber of Commerce, 1997

Education

Loyola University Chicago School of Law, J.D., cum laude, 1978

Indiana University, B.A., with honors, 1974

Birthplace

Hammond, Indiana