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Vice President, Industrial Asset Management

Location:

Boston, MA


Company Description:

Our client is a vertically integrated real estate developer, investor and operator that with offices located nationally with approximately 1,000 real estate professionals throughout the United States and nearly $30B in AUM.


Position Description:

The VP of Industrial Asset Management is involved in all aspects of operating the client’s industrial properties and is the main point of contact on both the leasing and operational sides of the business. The main role of the asset managers is to outperform market conditions while operating the buildings at the highest levels of institutional ownership. While this individual is responsible for property operations their focus and skillset will be on leasing and demonstrating market leader characteristics. The Vice President of Industrial Asset Management will embrace our company values of accountability, inclusiveness, energizing and courageousness.

Essential Duties and Responsibilities:

Leasing:

  • Structure lease transactions, both new and renewal, from initial lease proposal to the lease negotiation.
  • Ability to analyze deal structure against Yardi annual budget and Argus underwriting.
  • Deep knowledge of the competitive environment within your assigned market, including competitive listing, new product coming online, market statistics, and overall market dynamics.
  • Assign listings to 3rd party brokerage firms to oversee the leasing activities.
  • Cultivate positive relationships with our listing brokerage teams, tenant representation brokers, property managers, contractors, vendors, and development partners.
  • Review tenant and prospective tenant financial statements to ensure creditworthiness.
  • Work with the Investment team to provide market intel for underwriting purposes and make recommendations to Investment Committee.
  • Plan and execute market networking events from dinners to entire market wide events to ensure the company becomes a relevant investor in your assigned market.
  • Travel to properties to meet with brokers onsite, walk vacancies and expirations, and meet with business owners. Observe capital needs for each space as well as the stickiness of tenants’ operations.

Operations:

  • Oversee third party property management teams who handle the day-to-day operations at the asset level.
  • Develop and oversee annual property budgets in Yardi and business plans.
  • Review and approve common area maintenance reconciliation process. Ability to provide detailed feedback to tenants and property managers on reconciliations outcomes.
  • Review quarterly variance reporting.
  • Oversee the execution of the capital plan each year from the build out of shell vacancies, to concrete repairs, or roof replacements.
  • Assist property managers with onsite move in or move out processes.
  • Conduct property inspections with property management and construction teams to make capital and maintenance recommendations.
  • Track insurance claims and reimbursement process with  risk management department.
  • Review tenant alterations requests.
  • Review access agreements, license agreements
  • Review accounts receivables, coordinate with legal team on litigations for defaulting tenants.

Qualifications:

  • Bachelor’s Degree required – a concentration in Finance or Real Estate is preferred.
  • Excellent verbal and written communication abilities, interpersonal and negotiation skills.
  • Extremely detail- oriented.
  • Highly developed analytical thinker and problem solver.
  • Ability to problem-solve and exercise independent judgment while displaying a high degree of initiative and accuracy.
  • Demonstrated ability to organize & prioritize project, complete multiple tasks on schedule.
  • Ability to read and understand financial statements.
  • Understanding of construction methods, building systems of an industrial building is required.
  • Experience with negotiating lease documents.
  • Experience in Yardi, Argus, View the Space (VTS) and Excel is preferred.
  • Able to maintain confidentiality.
  • Able to travel to your assigned market. Travel will vary based on lease expirations, acquisition or disposition activity within your market, and company travel policies during COVID.
  • Minimum 6 years institutional leasing / asset management experience.

To learn more about this position, contact: Jon Nowikowski | (412) 339-5376 | jnowikowski@crownsearch.com

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