Firm & Position Overview:
Our client’s retail portfolio is comprised of 87 assets totaling more than 14.6 million square feet in 16 states and Puerto Rico, with a significant concentration of assets in the NY Metropolitan area. Properties include regional shopping centers, power centers, neighborhood centers, and single-tenant buildings. The tenants that make up the occupancy of the portfolio include department stores, anchor and junior box stores across all major retail categories such as: grocery stores, specialty retailers, restaurants, theaters, entertainment concepts, outlet tenants, service-oriented retailers, kiosks, carts, and other ancillary revenue-generating activities. The client has multiple developments and redevelopment projects underway at all times. It also acquires and sells properties.
The successful Vice President of Leasing candidate will be able to demonstrate past experience leasing space to all types of retailers including soft goods, service providers, restaurants, and quick-service restaurants. Responsibilities include canvassing markets and sourcing new deals, negotiating term sheets, and participating in lease negotiations. Additionally, the successful candidate will review and approve leases, create merchandising plans, use data and financial analysis to evaluate deals, source and maintain market information, manage lease renewals, analyze and provide feedback on new development and acquisition opportunities.
- Coordinate and execute the marketing and leasing of available space within the assigned core portfolio.
- Review and negotiate letters of intent, leases, and other related documents.
- Maintain relationships with existing tenants and establish new relationships with prospective retailers and tenant brokers.
- Maintain and grow relationships with brokers in the client’s respective and surrounding trade areas and establish new relationships with brokers throughout the broader region.
- Create merchandising plans for existing assets, new acquisitions, and new developments.
- Oversee third-party brokers and ensure that properties are being marketed effectively.
- Evaluate value-added opportunities through upgrading tenant mix and/or repositioning commercial space mix within the core portfolio.
- Develop, update, and present leasing reports to senior management.
- Assist the SVP of Leasing in establishing and implementing leasing strategies for new development projects.
- Assist in providing leasing direction in the pre-development & entitlement process for proposed developments.
- Provide income projections for the annual budget process and quarterly forecasts.
- Assist the development team with creating income projections for proposed development proformas.
- Assist acquisitions group with underwriting and research on proposed acquisition opportunities.
- 10 to 15 years retail leasing experience required, open-air center experience preferred; office, warehouse experience in addition would be a plus.
- Exposure to the New Jersey market is preferred.
- Proven success in completing lease transactions including renewals, terminations, expansions, and unexpected vacancies (deal sheet required).
- Proven track record positioning centers to maximize income and market potential.
- Bachelor’s degree in business administration, real estate, or related field is preferred.
- Strong negotiator with a proven track record of success.
- Flexibility to travel as required to perform responsibilities including attending regional and national ICSC events.
- Ability to manage relationships with brokers and leasing companies.
- Ability to multi-task and handle multiple projects, markets, and assets simultaneously.
- High integrity, drive, and intellectual curiosity are a must, with the ability to maintain balance and a rational perspective in all circumstances.
- Proficiency with web-based leasing platforms and MS Office required.