bout WS Development
Massachusetts-based WS Development is a mixed-use developer with a singular mission: creating places people want to be. With an approach that values art, science, innovation and, above all else, people, WS strives to engage each community it serves with best-in-class installations and activations. Established in 1990, WS is a vertically-integrated company that conceptualizes, owns, operates and leases more than 100 properties that range from cutting-edge urban spaces to lifestyle and community centers. With over 20 million square feet of existing space and an additional five million square feet under development, it is one of the largest privately-owned development firms in the country.
WS is where great ideas and great people come together to design, build, and operate some of the best loved real estate projects in the country. We live at the intersection of entrepreneurship and establishment. We have the infrastructure of decades supporting a culture of free-thinking excellence.
We expect every WS employee to feel welcomed and valued irrespective of race, color, religion, gender, gender identity or expression, sexual orientation, national origin, disability, age, veteran status, marital status, parental status, cultural background and life experiences. Or for any other reason.
Overview
Work with senior leasing team members to maximize the leasing potential of the Company's portfolio by analyzing, planning, and implementing leasing strategy to attain the financial and tenant mix objectives of shopping center ownership. Represent the Company to existing and prospective tenants, brokers, and other outside contacts in a positive and professional manner.
What to expect
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Understand the key characteristics of the Company’s portfolio. Thoroughly understand and continually reassess characteristics of assigned shopping centers, including physical condition, demographic composition, market rental rates, co-tenancy, trade area competition and traffic patterns.
- Compile, document and use data to target, attract and finalize leases with appropriate tenants by convincingly presenting benefits of the Company shopping centers..
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Support and document the identification, qualification, origination, and negotiation terms and conditions of new and renewal retail lease transactions. Work closely with tenant representatives, attorneys and brokers, following through to completion of the final lease document.
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Pursue national, regional and local tenants within the targeted use categories via regular and systematic canvassing, cold calling, and networking
- Identify, qualify, originate, and negotiate terms and conditions of new and renewal retail lease transactions, generally under 40,000 s.f., for in-line and freestanding units within the Company's shopping center portfolio. Work closely with tenant representatives, attorneys and brokers, following through to completion of the final lease document.
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With the guidance of the senior leasing professional,
- Identify, qualify, originate, and negotiate terms and conditions of new and renewal retail lease transactions, generally under 40,000 s.f., for in-line and freestanding units within the Company's shopping center portfolio. Work closely with tenant representatives, attorneys and brokers, following through to completion of the final lease document.
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Provide budget re/forecast information to ensure that the budget realistically reflects projected leasing activity.
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Negotiate commission agreements with outside brokers, obtaining approval of ownership as necessary.
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Facilitate the coordination and negotiation of initial tenant and landlord construction requirements with tenants and the Company tenant construction coordinator and/or development department.
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Document and maintain the confidentiality of records, contracts, files, correspondence and all leasing matters in which this position is involved.
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Attend ICSC convention meetings to develop and maintain tenant contacts and promote leasing opportunities.
Immediate Opportunity/Initial Success
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Success is indicated by lease transactions completed in support of senior leasing team members, measured in terms of:
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quantity (square footage leased, rental revenue generated, commission income produced, and number of transactions completed);
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quality (financial/operational strength and long-term viability of tenant, return on investment, terms and conditions of lease satisfactory to ownership, and tenant mix); and
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effort (work ethic, tenacity, initiative, resourcefulness, flexibility and commitment to improving leasing results).
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Understand terms and conditions of the lease document from the perspectives of both landlord and tenant. Competently negotiate and document various fallback positions to the form document.
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Exercise foresight in evaluating leasing situations and predetermining alternate courses of action.
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Earn the respect of co-workers and the retail tenant, brokerage and development communities as someone who is knowledgeable and responsive and who consistently maintains integrity, credibility and confidentiality in business interactions.
Potential for Growth/Longer Term Success
As you continue to learn the leasing landscape, there is an opportunity to be promoted into the Leasing Representative role with responsibility for leasing specific centers within the WS portfolio. You will be able to develop a network both in and outside of WS where you will have the opportunity to become a trusted resource across a wide range of areas and stakeholders.
Requirements
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Bachelor’s degree with 0 to 2 years of experience
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Proven ability to canvass, cold call and qualify prospective regional and local area tenants.
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Efficient organizational administrative and time management skills are required. Must be skilled at juggling multiple priorities.
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Advanced level Microsoft Office skills (Word, Outlook, Excel), Salesforce and MRI (property management software) are a plus.
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Ability to prepare market analysis, define market rental rates, and determine ideal tenant mix.
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Excellent verbal and written communication skills are essential. Ability to articulate detailed, formal proposals to seasoned real estate executives and attorneys as well as discuss key business terms with local "mom and pop" tenants. Ability to work effectively with a variety of personalities and work styles while projecting a calm, efficient, and professional manner.
- Tenacity, integrity and professional business demeanor.
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Possess a desire and necessity to travel and get in front of tenants around the country to drive and expedite deals.
The expected salary range for this position is $65,000 - $75,000 per year. Actual compensation will be based on factors such as skills, qualifications, experience, and location. This role is also eligible to participate in our annual bonus program.
