Asset Manager
Location:
Tampa, FL
Company Description:
Our client is a self-administered equity real estate investment trust that focuses on the development, acquisition, and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis on Florida, Texas, Arizona, California, and North Carolina. Our client’s strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply constrained submarkets. The current portfolio, including development projects and value-add acquisitions in lease-up and under construction, includes approximately 57 million square feet.
Position Description:
The Asset Manager will assist in the oversight of an industrial real estate portfolio in the areas of asset management, capital deployment, and property management. This will include leasing, financial reporting, tenant improvement oversight, as well as assisting in future acquisition and development activity. The Asset Manager will be based preferably in Tampa although Orlando is also an option.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Maintain an understanding of market conditions for the assigned portfolio, with regular trips to designated markets.
- Tour all vacant spaces and make sure they are in marketable condition.
- Tour any spaces related to in-process (or upcoming) construction upgrades.
- Assist with lease negotiations (new and renewal) with third-party leasing representatives.
- Help oversee in-house Property Managers with daily interaction related to the operation of the properties.
- Summarize monthly property management report while consistently monitoring leasing statistics and budget forecasts.
- Maintain financial results (budget and same store sales) for each market.
- Assist with underwriting potential acquisitions, including capitalization rate evaluation, risk and return analysis.
- Assist in managing the due diligence and activities related to the acquisition and disposition of any properties.
- Track market acquisitions and developments within each market (understand peer group).
- Build relationships with brokers in assigned markets to stay informed on upcoming market and potential “off-market” acquisition opportunities. This includes attending Commercial Real Estate events in markets typically hosted by NAIOP, SIOR, etc.
- Assist in identifying potential acquisitions and new land positions for development.
- Help prepare investment committee memorandums related to potential acquisitions as well as future development projects.
EDUCATION & EXPERIENCE
- Bachelor’s degree in business, real estate, economics, or related field; advanced degree a plus.
- 7+ years’ experience in commercial real estate asset management, acquisitions, leasing or development.
KNOWLEDGE, SKILLS & ABILITIES
- Solid understanding of financial terms and principles, with ability to conduct complex financial analysis.
- Excellent communication (both written and verbal) skills are required.
- Demonstrates sound judgment, ability to analyze and solve problems involving multiple factors in various situations.
- Strong interpersonal and customer service skills with the ability to maintain effective tenant relationships.
- Strong organizational skills with attention to detail.
- Proficient with all Microsoft applications and experience with property management software, preferably Yardi.
WORKING CONDITIONS
- Travel will be required for periodic asset management related property visits and select acquisition due diligence. Property visits may include tours of properties under development or in some phase of construction.
To learn more about this position, contact: Christine Pinkerton | (919) 679-9149 | cpinkerton@crownsearch.com