Job Description Summary
Provide Real Estate Asset Management Services that will include management of client's underutilized portfolio of small to large commercial properties (office, industrial, and flex types) or leases in an efficient and value enhancing manner.
Be accountable for certain specified business, financial, and management aspects of the assigned properties including supporting the preparation and implementation of, and adhering to, the strategic plan provided by client, interfacing with subtenants, and acting as the initial point of contact, supporting day-to-day activities with respect to the applicable asset, including (without limitation) engineering, maintenance, and other facility services and overseeing finance/accounting of all lease revenues.
Provide the following general Real Estate Asset Management Services, using its industry knowledge and expertise to apply best practices with respect to such services for the client.
• Supporting client REFM in the development and implementation of the strategic plan provided by client for each property, including providing general assumptions for disposition or subleasing analysis, such as identification of demising costs and any other improvement or separation expenditures.
• Preparing and obtaining approval for all make ready costs to space. Obtaining demising and separation costs from project management team. Obtaining timing impact of demising and separation costs from project management team.
• Providing regular updates to Client's Portfolio Manager and Project Manager(s), as well as within C&W and 3rd party contractor's teams, as required
• Marketing efforts with local brokers and project management team(s) for larger, complex transactions.
• Providing financial analysis comparison of all sublease proposals with obligations and assumptions plus all out-of-pocket costs to client such as brokerage fees, demising costs, free rent, or tenant improvements.
• Interfacing with other service line leads impacting the asset, such as project management, lease administration, portfolio strategy, transaction management, finance, and facility management.
• As requested and approved, conducting formal site inspections to ensure compliance with established standard operating policies and procedures.
• Monitoring and assisting with enforcement of the terms of all lease agreements, the billing and collection of rents and other tenant charges in compliance with leases.
• Acting as the subtenant's primary point of contact and directing all asset questions and concerns to appropriate internal client team(s), as well as following up on subtenant needs and requests. Interfacing with client's subtenant and client's landlord or landlord's property management company on related issues and escalations.
• For subtenant leases, ensuring client's lease administration practices are considered and applied, including critical date master scheduling, lease notifications, renewal notices, and tracking all Letter of Credit and Security Deposits. Communicate and work directly with C&W Lease Administration regarding subtenant's activities and obligations.
• Supporting client REFM with the creation and maintenance of all site-specific documentation including but not limited to initial Disposition presentation (marketing updates and operations info), sublease assumptions submittal for excess approval, and monthly marketing updates to global team.
• Creating and maintaining documentation provided to the subtenants, including, but not limited to, property information book (welcome package), site operating manual and emergency operations manual.
• Recommending improvements to the process to reduce cycle time.
• Ensuring that all applicable services and needs are met and in compliance with leases and agreements consistent with the practices developed by the client. When required and approved, conducting periodic visits, inspections and surveys and develops and implements effective tenant retention programs.
• Managing utility data for subtenant chargeback.
• When required and approved, conducting move-in walk throughs and handovers, and final walk through upon move out.
• Advising Client on developments in commercial real estate market affecting current or potential value of assets.
1. Communication Proficiency (oral and written)
2. Problem Solving/Analysis
3. Leadership Skills
4. Teamwork Orientation
5. Time Management Skills
6. Customer/Client Focus (internal and external)
7. Financial Acumen
• Bachelor's Degree in Business Administration, Real Estate, or related discipline preferred
• 3+ years of real estate property management or related experience
ADDITIONAL ELIGIBILITY QUALIFICATIONS
• Strong knowledge of finance and building operations
• Ability to analyze, prioritize, and delegate
• Ability to effectively manage a team of professionals, including vendors
• Previous experience in analyzing and negotiating commercial lease and/or contract language
• Advanced knowledge of Microsoft Office Suite
May require travel occasionally to properties in the US and Canada.
Cushman & Wakefield provides equal employment opportunity. Discrimination of any type will not be tolerated. Cushman & Wakefield is an Equal Opportunity / Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability, protected veteran status or any other characteristic protected by state, federal, or local law.
In compliance with the Americans with Disabilities Act Amendments Act (ADAAA), if you have a disability and would like to request an accommodation in order to apply for a position at Cushman & Wakefield, email HRServices@cushwake.com or HRServices@cwservices.com. All inquiries not related to accommodations will go unanswered.
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