Day-to-day responsibility for the financial and operational performance of a retail real estate portfolio. Including but not limited to the Net Operating Income (NOI) and Same Store NOI, developing strategies to maximize the value of each asset through revenue enhancements, expense reductions, leasing strategies as well as potential redevelopment and/or repositioning strategies. Supervise and manage agreements with all vendors, maintenance and property management personnel. Must work well in a cross-functional team environment.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
Understand how decisions on the transaction and property level affect other aspects of the property, portfolio, and company and make informed decisions based on the overall benefit to those 3 levels. Understand the properties and how they fit into their respective markets.
Communicate effectively in a timely manner with tenants, vendors, coworkers, and shopping center customers to respond to problems, develop relationships, and create value to the company and the managed portfolio.
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.
Create operating and capital expense budgets to best position the properties, portfolio, and company for success, focusing on efficient use of operating and capital expense dollars to increase investment returns and improve the ability of Leasing to market vacant spaces.
Read, understand and explain commercial leases, CAM Reconciliations, OEA/REA agreements, contract language, insurance documents, and other standard documents and forms used in commercial real estate.
Assess key measures of the portfolio on a routine basis and make decisions and adjustments as necessary to effectively manage the portfolio. Key measures include AR Balances, Budget Variances, Occupancy Percentage and Tenant Sales numbers, among others.
Understand the essentials of successful retail businesses and shopping centers and manage the properties to best ensure the success of our clients, the retail tenants.
Monitor the retail real estate markets to assess tenant and competitor trends to find new ideas for implementation within the portfolio.
Work closely with Tenant Coordination and Leasing on tenant move in/move out.
Identify, implement revenue enhancement (ancillary income opportunities) at all centers in the portfolio.
Achieve the financial performance goals of the Asset and meeting or exceeding designated key performance indicators.
Act as a liaison between leasing department on property level leasing matters, providing support as necessary to accomplish annual leasing goals at the property.
Perform physical site inspections/site visits at each property within guidelines provided.
Produce and manage property operations by obtaining quotes, producing agreements and inspecting the performance of all vendors and third-party contractors.
SUPERVISORY RESPONSIBILITIES - Dependent upon location
Associate Asset Manager
Field Maintenance Technician
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.
Bachelor's degree (B.A./B.S.) from a four-year college or university; or 5+ years related experience and/or training; or equivalent combination of education and experience.
Requires a minimum of 5 years of previous Property or Asset Management related experience of commercial real estate.
Required job skills learned include: Communicating verbally and in writing to tenants, creating budgets, preparing management reports, reviewing and explaining documents such as lease terms, CAM Reconciliations, insurance requirements, and other commonly used documents in the commercial real estate industry.
Must be proficient in 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.
About Poline Associates
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.