The role of the Stanford Real Estate department is to invest and optimize the risk-adjusted value of Stanford University's income-producing lands and deploy real estate expertise and solutions to meet existing and evolving University priorities. Stanford Real Estate is a department within Land, Buildings and Real Estate (LBRE), governed by the Stanford Management Company Board of Directors and Stanford Board of Trustees. Stanford Real Estate plays an important role in supporting the University's teaching, learning, and research missions by providing financial support for Stanford University.
The Associate Director oversees day-to-day operations of the Stanford Research Park (SRP) direct-owned portfolio of assets and serves as ambassador for the SRP, comprised of 10.3 million square feet of improved R&D and office buildings on 700 acres. SRP's current market value is approximately $3 Billion. The Associate Director position assists in maximizing the near-term and long-term value and performance of this significant and complex real estate portfolio in Palo Alto, California.
The Associate Director serves as a University representative and is expected to build strong relationships with various stakeholders, including the business community, Stanford affiliates, and community members and neighbors impacted by activity in Stanford Research Park. The Associate Director will report to the Director, Asset Management, Stanford Research Park.
Responsible for day-to-day operations and management of direct-owned properties in Stanford Research Park.
As issues or opportunities arise, conduct due diligence, including evaluating tenant rights, contractual obligations, and financial and legal analysis. Make strategic written recommendations to and secure support from Director.
Work with Director, Director of Finance and Lease Administration, and third-party property manager to produce annual budgets for direct-owned portfolio.
Conduct monthly budget and asset review meetings with Directors to monitor status of direct-owned portfolio.
Responsible for periodic property inspections and asset status reports for internal review.
Develop, secure approval for and implement long-term strategic plans for capital improvements, repairs and maintenance.
Responsible for development of SRP sustainability initiatives.
Evaluate the University's exposure under premises liability, seismic risk and other risks and make recommendations to mitigate such risks.
Audit tenants' fulfillment of lease obligations and creditworthiness, and address issues of non-compliance with support of Director and legal counsel, as needed.
Review the funding of tenant improvement allowances for accuracy and lease compliance, and make recommendation to Director for release of funds.
Interface with tenants, exercising sound business judgment and interpersonal skills.
Ensure ongoing accuracy of direct-owned asset management reporting, including information in database, organizational systems and standard reports.
Serve as owner's representative for all SRP direct-owned development and infrastructure projects.
Oversee development projects and participate in all development meetings; primarily responsible for monitoring budgets, milestones schedules, and coordination with leasing team and prospective tenants.
Coordinate efforts and ensure proper communication among various internal teams (Environmental Management, Design and Construction, Finance and Lease Administration, etc.).
Facilitate all coordination and manage all tasks related to the transition of expiring leaseholds to direct ownership for development.
Manage construction coordination with tenants, and facilitate the delivery of stabilized assets once developments are complete, to ensure smooth transition upon project completion.
Facilitate development projects close-out process and files in preparation for sale of stabilized asset.
Represent University with neighbors and community members impacted by developments.
Oversee third-party property management firm.
Develop and implement standard operating procedures related to property manager's day-to-day responsibilities.
Conduct annual audit of property management firm to evaluate performance and areas for improvement. Propose and oversee improvements to performance and procedures.
Manage property-related duties for all other direct-owned projects not managed by outside firm.
Coordinate with internal parties to handle all finance and lease administration functions.
Conduct inspections and lease audits, and remedy any areas of non-compliance by tenant or landlord.
Oversee the design review and approval process for ground leased development projects.
Manage design review and provide guidance for ground lessees' development projects.
For requests for review and approval, conduct due diligence, including evaluating tenant rights and contractual obligations, and design and construction analysis. Make strategic written recommendations to and secure support from Director.
Assist Director and Managing Director in responding to City of Palo Alto requests, as requested.
Located between San Francisco and San Jose in the heart of Silicon Valley, Stanford University is recognized as one of the world's leading research and teaching institutions. Leland and Jane Stanford founded the University to "promote the public welfare by exercising an influence on behalf of humanity and civilization." Stanford opened its doors in 1891, and more than a century later, it remains d...edicated to finding solutions to the great challenges of the day and to preparing students for leadership in a complex world. The University's thriving diverse community is comprised of nearly 7000 undergraduate students, 9000 graduate students, 2000 faculty members, 1900 postdoctoral scholars, and over 11,000 academic and administrative staff in seven schools including several interdisciplinary research centers and institutes. The campus spreads over 8000 contiguous acres and nearly all undergraduates live on campus. Stanford offers bachelor's and master's degrees in addition to doctoral degrees (PhD, MD, DMA and JD) plus a number of professional and continuing education programs and certifications. More at http://facts.stanford.edu and http://www.stanford.edu.
Stanford University is an equal opportunity employer and is committed to increasing the diversity of its faculty. It welcomes nominations of and applications from women, members of minority groups, protected veterans and individuals with disabilities, as well as from others who would bring additional dimensions to the university’s research, teaching and clinical missions.