Day-to-day responsibility for the Net Operating Income performance of a regional retail real estate portfolio, develop strategies to maximize value of each asset through revenue enhancements, expense reductions, leasing strategies as well as potential redevelopment and/or repositioning strategies. Supervise external maintenance and property management personnel and must work well in a cross-functional team environment. Employee has the direct responsibility to manage the budgetary functions in their property/region and is responsible for making day-to-day decisions regarding said budget and the management of expenses and revenue independent of oversight from upper management. In addition, employee has fiduciary responsibility over all aspects of their respective operational responsibilities, outlined herein and is authorized, and expected, to make key decisions on a daily business (which would include; managing property cash flow, marketing events, managing numerous vendors such as Landscapers, Maintenance, Security and Property Management individuals, managing temporary tenants, analyzing and making recommendations on tenant rent relief and tenant terminations) as it impacts the profitability of their property/region
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned. Regular or predictable attendance is a requirement of this job.
Oversight for day-to-day property management functions through utilization of internal or external property management/maintenance resources.
Prepare annual operating and capital expenditure budgets for each asset.
Act as a liaison with leasing department on property level leasing matters, providing support as necessary to accomplish annual leasing goals at the property.
Develop and execute annual business plan for each property to include expense reduction efforts (analysis of recovery, leakage and tenant CAM caps) and revenue enhancement strategies (ancillary income opportunities).
Recognize and manage each property's ability to meet or exceed property branding standard, appearance, cleanliness, sight lines, signage, etc.
Understanding of tenant financials and key business decision making to improve the portfolio.
Primary risk manager at the property level, interfacing with necessary internal employees and legal and insurance carriers to monitor and reduce all property level risks.
Stays abreast of trends within the real estate industry as well as retailer world, is cognizant of changes in the investment climate, knows and understands issues impacting retailers.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Requires a minimum of 7 years of previous Property or Asset Management related experience of commercial real estate.
Required job skills include: (i) communicating verbally & in writing to tenants, (ii) creating budgets, (iii) preparing management reports, (iv) reviewing & explaining concepts such as lease terms, CAM reconciliations, insurance requirements & other commonly used documents in the commercial real estate industry.
Must be proficient at Microsoft programs Outlook, Word, Excel, & PowerPoint and/or Mac OS.
Must be trainable on MRI and Salesforce.com.
Must also be able to travel to the properties in the portfolio for onsite routine visits, while maintaining effective responsiveness to the ongoing tenant and departmental needs of the company.
Requires strong financial skills, including analysis of tenant financial information, real estate investment return measures and valuation analysis.
Not required but recommended are CSM, RPA, CPM and/or CCIM designations in commercial real estate.
EDUCATION and/or EXPERIENCE
Bachelor's degree (B.A./B.S.) from a four-year college or university.
Poline Associates is an international executive search firm specializing in the shopping center industry.We serve property owners, developers, retailers and service providers who are seeking remarkable talent and work to align them with candidates who are eager for new growth opportunities. Since 1979, our team has been connecting companies and candidates with a commitment to integrity and client satisfaction—making us the industry’s most trusted leader in recruitment.