As a member of the Development team, the Vice President, Development – Anchor Leasing plays an important role in the implementation of the Company’s development strategy reporting directly to the Executive Vice President, Development. This role will participate in Company teams responsible to direct, coordinate, and oversee activities associated with anchor, big box and peripheral land deals, with specific focus on replacing vacant anchor stores and asset intensification, and all predevelopment work related to such projects. These activities may include securing anchor stores, determining feasibility, underwriting, negotiating and structuring leases and options, and contributing to the design, construction, and opening of new developments and redevelopments of existing portfolio assets and, possibly, new developments.
Responsibilities (Essential Functions):
Develops, manages and maintains a broad range of industry relationships on behalf of the Company with potential tenants, anchor stores, big box and restaurant retailers, consultants, and governmental agencies.
Prepares prospective tenant presentations and new leasing proposals. Responsible for the negotiation of leases, contracts, and operating agreements for anchor stores, outparcels, big box and mid-box tenants.
Responds to tenant inquiries and reviews other portfolio opportunities on a routine basis.
Identifies and analyzes development and zoning regulations related to leases, new projects and expansion of existing properties. Coordinates with internal legal teams for the analysis and interpretation of REA’s, Leases and related controlling documents.
Works with the Vice President, Development to obtain project entitlements and third party approvals.
Assists in managing the pre development process from initial identification and evaluation, through investment approval, entitlements, and pre leasing. Participates in multi disciplinary Company teams including Construction, Leasing, Restaurant Leasing, Property Management, and Financial Analysis, to manage the full cycle development process through lease up, design, construction, and project completion as needed.
Prepares analysis for redevelopment and tenant specific opportunities. Guides and oversees preparation of project proposals, pro formas, budgets, feasibility analyses, including determination of time and funding requirements.
Working with the Vice President, Development, Leasing, Restaurant Leasing, and Financial Analysis, participates in preparing materials for the Company’s Investment Committee.
Working with Restaurant Leasing, leads company efforts to sell or lease peripheral land parcels.
Takes steps necessary to maximize revenue, including pushing to accelerate openings and negotiating A/R balances.
Collaborates with Leasing to build relationships with new prospective restaurant tenants and maximize portfolio opportunities.
Working with Construction, monitors and maintains schedules and budgets for projects assigned and oversees the execution of approved development projects..
Contributes to the development and implementation of departmental procedures and controls to more effectively monitor projects and prospective deal pipelines, and improve the processes, activities, and outcomes of the Company’s development activities.
Responds to tenant inquiries.
Performs other duties as assigned
Skills (Desired Abilities):
A natural leader and team player, with a cultural fit and a style to operate effectively within a fast-paced public company environment.
Strong relationship development and interpersonal skills with an ability to appropriately influence and inspire others, successfully manage conflict, and interact effectively with all internal and external stakeholders including joint-venture partners, tenants, architects, engineers, and other third parties, finance and marketing professionals, contractors, as well as personnel and executives within the Washington Prime Group organization.
Strong negotiating and deal structuring skills.
Strong presentation, verbal and written communication skills.
Strong organizational and project leadership skills.
Ability to understand site and lease plan drawings.
Ability to understand financial reports.
Ability to use computer software/hardware to prepare and present financial, economic and other data for project proformas and other analytical reports.
Must be willing to travel as required.
Qualifications (Education and Experience):
A minimum of 10 years of relevant real estate development experience managing full-cycle processes associated with large-scale premium developments and/or leasing. Specific experience in leasing and retail developments of regional mall properties will be a plus;
BA or BS Degree in Business, Finance, Economics, Engineering, Architecture or related field required
MBA, JD or other relevant advanced degree preferred
Washington Prime Group Inc. (NYSE: WPG) is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio with an investment grade balance sheet, leveraging its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opp...ortunities to retailers looking for growth throughout the U.S.
Washington Prime Group was formed in May 2014 following a spin-off from Simon Property Group and acquired Glimcher Realty Trust (NYSE: GRT) in January 2015.
Today the company operates out of headquarters in Columbus, Ohio, and an additional office in Indianapolis, Indiana.
Washington Prime Group is focused on the experience we create at each of our centers. By providing a mix of things to do and things to buy, our properties deliver the right combination of tenants, activities and events to keep shoppers engaged and returning often.