Reports to: Director of Retail Property Management
Our Client has been in the commercial real estate business for more than 82 years. Its property management portfolio currently consists of office and retail properties comprised of approximately 13 million square feet. A core conviction of the Client’s Principals is the belief that each employee is responsible for making an important contribution to the success of the Company, as well as the performance of the properties in its portfolio. This expectation is not limited by the specific parameters of the job description. It is their expectation that each employee will offer his/her help wherever and whenever reasonably necessary to ensure the success of our endeavors. This summary is not intended to be all-inclusive; it is simply meant to be used as a guide and may be revised from time to time at the sole discretion of the Company.
General Position Summary: Oversee and direct a portfolio related to the organization’s diverse Retail Portfolio, as well as actively participate in acquisitions of retail properties and the growth and future development of the Company’s third-party management business. Supervise and direct activities of on-site and off-site property management staff. The position is responsible for the overall successful operation of the retail property management group, working to ensure that the retail property management group always surpasses industry standards.
Essential Functions/Major Responsibilities: • Participate in the preparation of the initial Strategic Plan. • Participate in the acquisition process, review third party due diligence reports, and participate in tenant interviews. Assist the Asset Manager in connection with the disposition of retail properties. • Play a key role in ensuring a smooth transition to the retail property management group post closing. • Responsible for the timely preparation of the annual property budgets, with input from Institutional Investors, Principals, Property Managers, the Facilities Manager and the Asset Managers, and subject to review by the Company’s CFO. • Analyze monthly performance and monthly reforecasts. Compare to Strategic Plan and Budget and offers recommendations for adjusting strategies as appropriate. Reviews and stands by the timely and accurate preparation of monthly and other property management reporting. • Set performance goals by project, monitors performance, submits strategy goals, adjust recommendations, as appropriate. • Monitor market conditions regularly and communicates data to the Asset Manager including any market changes that need to be evaluated. • Work with retail property management staff to manage commercial leases including assessing and calculating annual CAM’s, monitoring lease compliance. • Assist with Leasing, particularly with transactions involving existing tenants. Reviews lease document drafts, leasing proposals, commission agreements. Works with facilities manager to prepare accurate budgets for tenant and building improvement construction projects. • Participate/oversee construction projects when necessary. • Continually enhance industry knowledge and expertise through real estate and property management publications, reports and seminars. • Work with staff to ensure maximum use of property management software. • Work closely with Director of Retail Property Management to develop, implement and adjust, when appropriate, a plan to foster the growth of the Company’s third-party retail property management business. • Conduct and/or facilitate regular training meetings with property management staff. Evaluates and recommends additional trainings for staff as needed. • Promote communication and collaborations between departments.
Reporting, Community Involvement and Professional Development: • Prepare and present departmental reports relating to project performance, goals, standards, benchmarks, etc. • Maintain good working relationship with community partners and attends industry association meetings, trainings, etc. • Maintain appropriate CEU’s to ensure any Real Estate license requirements are met. • Willing to sit on various committees pertinent to department and organization goals and Standards. • Stay abreast of property management and other real estate related industry standards, legislation impacting department and industry practices, policies and procedures. • Regularly communicate and cooperate with Asset Management staff on all PM reporting and regulatory issues.
Interpersonal Contacts: It is essential that the Assistant VP reflects and adheres to the highest standards of ethical behavior. He or she is expected to express a professional, courteous attitude, as well as be team oriented. Contacts are normally made with others both inside and outside the organization. External contacts occur with investors, regulatory agencies, vendors, and community partners. Internal contacts occur with all levels and areas of the organization, including other department heads, asset managers and staff. Contacts are usually made on own initiative and often concern confidential or sensitive matters requiring the use of discretion, negotiation or persuasion.
Job Conditions: Position experiences interruptions, need for frequent shifting priorities, and deadlines. Requires site visits. Proof of valid driver’s license and vehicle liability insurance is required. Regular travel required in connection with the management of existing properties and acquisition opportunities. The position may occasionally require attendance at evening meetings. Regular attendance is a prerequisite in accordance with a regular schedule established for the position by the Director - Retail.
Specific Job Skills: • Strong knowledge of property management and tenant/landlord practices, laws, rules and regulations. Good command of commercial management and leasing practices. • Ability to analyze, evaluate and act on issues and/or problems, reach sound conclusions and take as appropriate action. • Possess good verbal, written and interpersonal communication skills, as well as good computer skills. Experience with property management software helpful. • Assist the third-party Risk Advisor with Company and property-related insurance issues, including the Tenant & Vendor Certificate procedures and the placement of the property policies.
Education/Experience: • Bachelor’s Degree in business, real estate development or related field preferred with sufficient experience to provide strong leadership in property management practices and techniques. • A minimum of 5-8 years equivalent level experience covering onsite experience as a general property manager, as well as in managing a property management department or division strongly preferred. • Supervisory experience highly preferred. CSM and Real Estate Broker license preferred.
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