Minneapolis-St. Paul Metro Area , Minnesota
Posted: 02-Feb-23
Location: Minneapolis-St. Paul Metro Area , Minnesota
Type: Full Time
Required Education:
Location: Minneapolis-St. Paul Metro Area, MN
Our Client is a highly respected, long-standing, third-generation business that develops and owns retail, mixed-use and multifamily properties in the Twin Cities. Their dynamic and nimble team provides asset management and development services, while collaborating with outside leasing and property management partners. Their mission is to strengthen communities by developing places that add value and energy to neighborhoods.
Currently, our Client operates, owns and asset manages investments in approximately 25 properties with AUM exceeding $200M. Their vision is to improve communities through investment and development of neighborhood retail, mixed use and multi-family properties and grow their AUM to $400M by 2025 through current projects under construction and their existing pipeline of new projects.
Through our Client’s 70 years of experience in the shopping center business, they use their understanding of retail and creating an environment to allow retailers and restaurateurs to flourish as the guiding principle within the company’s developments.
This position is responsible for driving performance, developing asset strategies, financial analysis related to leasing and financing decisions, leasing evaluation, sales activities, deal negotiation, asset and capital improvement budgeting, asset management plans, property management oversight, establishing and maintaining relationships with outside parties (attorneys, appraisers, brokers, property managers, contractors, partners, tenants, vendors, etc.), oversight of operational issues, and investor/owner communications for an assigned portfolio of retail properties.
Responsibilities:
- Drive performance and increased occupancy in retail portfolio, seeking revenue growth and expense control.
- Direct the leasing and of the retail portfolio, interacting with listing brokers to create leasing strategies, target categories and users, and improving/approving marketing materials.
- Communicate and report regularly with ownership to effectively understand and implement ownership’s goals.
- Oversee and provide strategic direction to 3rd party outside property management teams.
- Monitor the financial health of each assigned property and report on a routine basis.
- Read, interpret, and negotiate contracts, leases, lease amendments, and other legal documents.
- Oversee the preparation of contracts, leases, lease amendments, and other legal documents for signature.
- Prepare monthly, quarterly, and annual reports for assigned portfolio.
- Present property information to owner during regularly scheduled property meetings.
- Review and approve annual property budgets.
- Visit properties to inspect physical condition, gauge adherence to lease and ownership standards, and develop and implement capital improvement strategies.
- Monitor critical dates within assigned portfolio (lease expirations, renewals, etc.).
- Ensure that high standards for leasing, property performance and property operations are understood and maintained.
- Assist in transactional support (i.e., financings) and due diligence on acquisitions, renovations, or dispositions.
- Recommend improvements to properties, policies, practices, and procedures.
- Manage team members to ensure empowerment, growth, opportunities, and performance.
- Other duties as assigned.
Qualifications:
- Bachelor’s degree required; Degree in Real Estate, Business or Finance preferred.
- Five (5) plus years of commercial real estate experience with local, regional, and national retail tenants.
- Retail lease negotiation experience and a thorough understanding of the retail industry is required.
- Strong analytical skills with high attention to detail and accuracy.
- Strong organizational, time-management, and prioritizing skills.
- Excellent verbal, written, and interpersonal communication skills.
- Ability to work well independently and on a team in a fast-paced environment with strict deadlines.
- Ability to work well under pressure while handling unexpected situations.
- Strong negotiating and influencing skills.
- Intermediate or better Microsoft Office Suite skills; Experience in MRI and Argus preferred.
