Accountable for providing leadership, oversight and strategic direction to the asset management, leasing and property management functions. Responsible for generating and maintaining revenue for the company, overseeing customer satisfaction and the financial performance of operating properties including leasing, budgeting and management of assigned portfolio. Partner with Senior Management in key decision making process related to property acquisitions by providing market expertise and in-depth financial analysis.
1. Revenue Generation. Provide strategic direction of revenue generation activities. Provide leadership and resources to leasing teams, including managing listing brokers, to perform revenue functions. Initiate contact with prospective tenants, deliver sales presentations, prepare leasing proposals and negotiate the terms and conditions for acceptable leasing agreements for both existing and newly constructed buildings. Review financial analysis for internal deal approval that conforms to market conditions. Provide oversight to the negotiation all leases for re-let or new space and guidance to subordinates regarding acceptable deal parameters and/or negotiation strategies and tactics. Update, appraise and maintain current market conditions. Negotiate commission agreements with cooperating brokers and listing agents and process commissions. Emphasize the importance of customer service and develop/expand key customer relationships. Provide oversight to tenant deliverables including coordination with construction and development on construction drawings, space planning, design approval, lease packages, etc. and ensure that build outs are completed in a timely manner. Provide the marketing department with clear direction and strategy to maximize leasability of properties.
2. Financial Planning & Control. Overall responsibility for financial performance of operating properties within a designated portfolio. Through subordinates, establish clear financial objectives and manage through financial controls. Oversee the preparation of operating and capital budgets for on-going operations. Approve the annual budgets including revenue, operating expenses and capital expenditures. Coordinate with accounting and legal departments on delinquencies and defaults. Establish base building and tenant improvement schedules and budgets in coordination with construction. Participate in the budget process for new construction including establishing rental rates necessary to achieve target financial returns and establishing operating budgets once property becomes operational. Oversee the Common Area Maintenance (CAM) reconciliations, audits and base year calculation processes.
3. Acquisitions & New Business Development. Participate in the due diligence process during the acquisition phase of operating properties. Analyze financial models, projections, capital expenditure forecasts, etc. and review packages for the Investment Committee prior to acquisition. Participate in the overall planning and design for newly constructed buildings. Provide leadership and participate in activities related to new business/growth opportunities which may include (but not limited to): site selection, proforma preparation and analysis, letter of intent, leasing, etc.
4. Reporting/Public Relations. Provide market and financial information to executive management in preparation for quarterly earnings reports, Board meetings, etc. including (but not limited to): updating monthly leasing, vacancy and absorption with submarkets reports; identifying and articulating market trends; summarizing and tracking market demand, etc. Participate in professional, industry and government organizations to generate beneficial relationships and networks for the company. Represent, through presentations or other means, the strengths of the Company, both internally and externally.
- Oversee preparation of presentation and marketing materials for projects including brochures, site plans, building models, etc.
- Perform other job related duties as assigned.
Education Bachelor degree in Business Administration, Finance, Real Estate or other related field. Masters or advanced degree in related field preferred.
Further Training • Broker’s or Sales license preferred.
- Industry certifications preferred.
Professional Experience Minimum of ten years of leadership experience in commercial real estate leasing/asset management
Computer Skills • PC proficiency to include (to include but not limited to) Microsoft Office applications (Word, Excel, Outlook, etc.) and ability to learn company specific software.
- Ability to adapt to new or changing software programs.
Mobility Ability to travel to other company locations/properties.
Other Requirements • Understand the market as it relates to acquisition including knowledge of market demand and supply, vacancy, absorption, micro and macro issues relating to properties.
- Ability to read blueprints and have an understanding of all building related systems.
- Ability to prepare and monitor budgets in a timely and accurate manner.
- Demonstrated ability to successfully and effectively organize, manage and lead an organization of diverse disciplines.
- Demonstrated creativity in approaches used to develop and direct short- and long-range planning.
- Demonstrated experience managing projects of significant scope.
- Ability to frame problems and solutions quickly and concisely.
- Ability to accomplish objectives through consensus building, negotiation, influence and persuasion.
- Strong verbal, written and interpersonal skills.
- Effective at building relationships with internal/external business leaders, colleagues and employees.
- Must be comfortable with interactions with top management in outside companies and delivering presentations.
- Possess judgment and executive maturity to balance the interests of the line business with the overall goals and values of the company while assuring compliance with rules and regulations.
- May be required to carry and maintain appropriate government credentials.