Madison Real Estate, LLC is looking for an energetic, self-starter with good personal communication skills, management experience with co-workers as well as third party brokers, and experience negotiating commercial leases. Madison independently contracts with Baceline Investments LLC to serve as their Leasing Team responsible for all revenue goals for a portfolio of 50 neighborhood shopping centers across the U.S. Madison also plays an integral role in Baceline’s Acquisition due diligence process and is required to fully assess the revenue projections for acquisitions. As a Portfolio Manager, you will be responsible for meeting or exceeding the revenue projections for a portfolio of 15 – 20 properties in a specified geographic location. Baceline Investments is a private equity real estate investment fund with a portfolio of over two and a half million square feet of retail properties throughout the United States. Baceline’s stated growth target is to acquire up to another 150 shopping centers in the next 5 years for a $1B portfolio consisting of 200 neighborhood shopping centers.
The successful candidate will assist the team with the following: Negotiating letters of intent, leases, renewals, and lease assignments to ensure successful execution of the business plan. Devise and implement the most beneficial restructuring of all lease terms in cases of tenant defaults, tenant ownership changes, relocations, and expansion/downsizing.
Property Positioning – Understand the competitive landscape for each center and then develop the most effective leasing strategy and marketing materials for positioning all assets to be the best in the sub-market.
Assist the acquisition team with the development of business plans for new acquisitions. Effectively execute the leasing assumptions for acquisitions in your market. Have the ability to articulate the leasing strategy and your personal approach to implementation to upper level management.
3rd party broker management. Evaluating broker performance through market visits and scheduled bi-weekly calls. The Portfolio Manager will be required to make changes with brokers as needed to maximize performance of the portfolio.
Develop and maintain relationships with expanding regional and national retail tenants, tenant-rep brokers, and investment brokers.
Maintain and grow an up to date knowledge on industry trends, retailer profiles, MSA characteristics and personal networks throughout the United States.
Explore target acquisition markets & identify potential assets for sale.
Develop and maintain rapport with existing tenants in the portfolio. Work with Baceline’s local Portfolio Services Managers to successfully renew tenants at or above business plan.
Develop and maintain best of class knowledge regarding small to medium size neighborhood shopping center tenants (primarily non-credit, mom-and-pop) and synergistic tenant mixes. This includes new retail and service concepts.
Identify and implement opportunities to optimize the tenant mix for each center based upon the unique characteristics of the center, the demographics of the surrounding neighborhood, and the strategic plan for the center. This includes both proactively replacing weak tenants and sourcing new tenants that create synergy with the existing tenant base.
Assist property managers with annual budget creation and implementation.
Managing the portfolio through regular market visits including networking with brokers, municipalities, key tenants, and any local Baceline employees.
Assist with the management of the local PSM (Portfolio Services Manager). Management of the PSM includes bi-weekly update calls to ensure best practices are being implemented at each property.
• High level of organization and self-management skills. • Knowledge – Strong understanding of
a) Retail commercial real estate operations; lease negotiation, construction, property management, government approvals, REA’s, pad site development, etc. b) In-depth knowledge of commercial real estate concepts and how they pertain to retail assets (NNN, CAM reconciliations, NOI, TI, etc.) c) Strong understanding of Retail leases, amendments, assignments and other relevant legal documentation. c) Third party broker selection and management to exceed lease up goals. d) Understanding Investor expectations and implementing strategies to meet these expectations. e) Marketing, creative marketing, and ability to measure results. f) Trend Recognition – economic, social, community, over multiple markets. Desire to continually be studying the industry and growing as a professional. g) Property positioning strategy, and implementation.
• Existing relationships with national retailers. • Works well under pressure and responds quickly to fluctuating deadlines. • Ability to manage and prioritize tasks/requests from multiple departments. • Ability to travel, at a minimum, twice a month (on short notice). • Prior in-house work experience with a retail owner/operator across wide geographic area. • Prior relevant management experience building an organization with various stakeholders.
Colorado Real Estate License a plus
Additional Salary Information: This position will be base plus commission.