WS Development
Vice President, Core Leasing
Chestnut Hill, Newton, MA, USA
Position Objectives:
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 of 8 individuals; 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.
Requirements
Bachelor’s degree is required.
Real estate sales license is required (Massachusetts or a reciprocal state).
Experienced negotiator with a minimum of 10+ years of retail sales/leasing/management 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 WS Development
Massachusetts-based WS Development is a mixed-use developer with a singular mission: creating places people want to be. With an approach that values art, science, innovation and, above all else, people, WS strives to engage each community it serves with best-in-class experiences, designed with our customers, tenants and partners in mind. Established in 1990, WS is one of few vertically-integrated real estate companies that conceptualizes, owns, operates and leases more than 100 properties that range from cutting-edge urban spaces to lifestyle and community centers. With over 22 million square feet of existing space and an additional nine million square feet under development, it is one of the largest privately-owned development firms in the country.
WS is where great ideas and great people come together to design, build, and operate some of the best loved real estate projects in the country. We live at the intersection of entrepreneurship and establishment. We have the infrastructure of decades supporting a culture of free-thinking excellence.
We expect every WS employee to feel welcomed and valued irrespective of race, color, religion, gender, gender identity or expression, sexual orientation, national origin, disability, age, veteran status, marital status, parental status, cultural background, and life experiences. Or for any other reason.
Negotiable Salary
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