Our client’s retail portfolio comprises roughly 87 assets enclosing more than 14.6 million square feet in 16 states and Puerto Rico. Properties included enclosed regional malls, power centers, neighborhood centers and single-tenant buildings. Mall tenants include department stores, theaters, in-line shops, restaurants, kiosks, carts, other revenue-generating activities and outparcels. Power and neighborhood centers include big boxes, junior boxes, other shops, grocers, gas stations, outparcels and other revenue-generating activities. The client has multiple development 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, along with direct leasing experience with premium outlet retailers. Responsibilities include sourcing new deals, specialty leasing, the review and approval of leases, lease negotiations, creating merchandising plans, using financial analysis to evaluate deals, maintaining market information, managing lease renewals, analyzing and providing feedback on new development and acquisition opportunities.
Essential Duties and Responsibilities:
• Oversee third party brokers to ensure that properties are being marketed effectively.
• Manage and oversee Leasing Associate.
• Coordinate with Asset Management in order to achieve budgeted property level objectives.
• Coordinate the marketing and leasing of available space within the assigned core portfolio.
• Create merchandising plans for existing assets, new acquisitions and new developments.
• Maintain relationships with existing tenants and establish new relationships with prospective retailers and tenant brokers.
• Review and negotiate letters of intent, leases and other related documents.
• Evaluate value-added opportunities through upgrading tenant mix and/or repositioning commercial space mix within the core portfolio.
• Provide leasing direction in the pre-development & entitlement process for proposed developments.
• Develop, update and present leasing reports to senior management.
• Provide income projections for the annual budget process and quarterly forecasts.
• Assist Development with creating income projections for proposed development pro-formas.
• Responsible for establishing and implementing leasing strategies for new development projects.
• Assist Acquisitions group with underwriting and research on proposed acquisition opportunities.
Job Qualifications:
Required
• 10 years retail leasing experience required, open-air center or regional mall experience preferred.
• Proven track record positioning centers to maximize market potential.
• Bachelor’s degree in business administration, real estate, or related field.
• Proven success in completing lease transactions including renewals, terminations, expansions, and unexpected vacancies.
• Strong negotiator with a proven track record (deal sheet required).
• Ability to travel regularly, including overnight travel.
• 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.
