Vice President of Leasing (L-6312) (Prior Supervisory Experience Required)
May 1, 2018
Greater Boston Area, Massachusetts
Full Time - Experienced
Maximize the leasing potential of the Company's shopping center portfolio by analyzing, planning and implementing a leasing strategy to attain the financial and tenant mix objectives of ownership.
Represent the Company to existing and prospective tenants, brokers and other outside contacts in a positive and professional manner.
Lead and manage assigned centers and leasing staff; collaborate with stakeholders to drive business and develop new opportunities.
Key Position Accountabilities:
Understand the key characteristics of the Company’s shopping center portfolio. Thoroughly understand and continually reassess characteristics of assigned shopping centers, including physical condition, demographic composition, market rental rates, co-tenancy, trade area competition and traffic patterns.
Compile and use data to target, attract and finalize leases with appropriate tenants by convincingly presenting benefits of the Company’s centers, maintaining credibility, and understanding and matching tenant requirements with shopping center attributes.
Research, analyze and make recommendations concerning prospective tenants for assigned shopping centers based on credit/financing impact, tenant mix, and return on investment. Pursue national, regional and local tenants within the targeted use categories via regular and systematic canvassing, cold calling, and networking.
Identify, qualify, originate, and negotiate terms and conditions of new and renewal retail lease transactions, generally under 40,000 sf, for in-line and freestanding units within the Company's portfolio. Work closely with tenant representatives, attorneys, and brokers, following through to completion of the final lease document.
Fully document the nuances of each prospective deal. Regularly communicate with ownership and other functional areas of the Company via lease logs, regular leasing report updates, and in person to ensure an accurate understanding of leasing status and opportunities.
Facilitate the coordination and negotiation of the initial tenant and landlord construction requirements with tenants and the Company tenant construction coordinator and/or development department.
Negotiate commission agreements with outside brokers, obtaining approval of ownership as necessary.
Provide budget re/forecast information to ensure that the budget realistically reflects projected leasing activity.
Attend ICSC convention meetings to develop and maintain tenant contacts and promote leasing opportunities.
Maintain the confidentiality of records, contracts, files, correspondence and all matters in which this position is involved.
Critical Success Factors (Measures of Performance)
Success indicated by lease transactions completed, measured in terms of:
quantity (square footage leased, rental revenue generated, commission income produced, and number of transactions completed);
quality (financial/operational strength and long-term viability of tenant, return on investment, terms and conditions of lease satisfactory to ownership, and tenant mix); and
effort (work ethic, tenacity, initiative, resourcefulness, flexibility, and commitment to improving leasing results).
Understand terms and conditions of the lease document from the perspectives of both landlord and tenant. Competently negotiate various fallback positions to the form document.
Exercise foresight in evaluating leasing situations and predetermining alternate courses of action.
Exercise positive team approach to problem-solving.
Possess philosophy, values and personal work style compatible with the Company culture.
Earn the respect of co-workers and the retail tenant, brokerage, and development communities as someone who is knowledgeable and responsive and who consistently maintains integrity, credibility, and confidentiality in business interactions.
Background and Experience Necessary to Succeed in Position
Bachelor’s degree is required.
Real estate sales license is required (Massachusetts or a reciprocal state).
Experienced negotiator with a minimum of seven years of retail sales/leasing experience. Proven negotiating ability as evidenced by quantity and quality of retail leases completed. Established working relationships with national tenant representatives in the 1,500-15,000 sf range is required.
Experience working with elevated tiers of clients ensuring tenants are managed well and strong relationships are in place.
Prior supervisory experience important
Prior management and oversight experience of assigned centers; collaborates with the team to drive deals and handles all reporting, management expirations, options, kickouts, etc.
Must have proven ability and experience in deal documentation: structure terms and speed of execution.
Understanding of the lease document and expertise in originating, negotiating and completing new and renewal leases for in-line and freestanding locations within existing open-air centers and new developments.
Ability to prepare market analysis, define market rental rates, and determine ideal tenant mix.
Proven ability to canvass, cold call and qualify prospective regional and local area tenants.
Possess a desire and necessity to travel and get in front of tenants around the country to drive and expedite deals.
Tenacity, integrity and professional business demeanor.
Efficient organizational and time management skills are required. Must be skilled at juggling multiple priorities.
Excellent verbal and written communication skills are essential. Ability to articulate detailed, formal proposals to seasoned real estate executives and attorneys as well as discuss key business terms with local "mom and pop" tenants. Ability to work effectively with a variety of personalities.
Projects a calm, efficient, and professional manner.
Practical knowledge of computer operation is required. Familiarity with Windows, Word, Excel, Outlook, and MRI (property management software) is a plus
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.