Job description
Summary:
This role will be part of CWS’ Asset Management team and report directly to the Vice President of Asset Management. The portfolio consists of Class A retail space in Tacoma and Seattle with growth potential in other markets. The role will assist the department to drive long-term asset value for the investor through analytical, strategic, and proactive decision making. The role will work closely with Accounting to ensure the reporting, monthly statements, CAM reconciliations, and other retail aspects are accurate.
Candidate may reside in Seattle/Tacoma with Austin, Texas as a consideration, and must travel for at least one week per month to Tacoma.
Minimum On Site Requirements:
The individual will be on site in Tacoma for a minimum of one week per month. If the person is home-based outside of Seattle/Tacoma, it is expected they will travel to Tacoma on Monday and depart on Friday a minimum of one week per month.
Essential Functions and Responsibilities:
Leases and Tenant Management:
- Rigorously read and comprehend all aspects of each retail lease
- Ensure tenant and owner compliance of all aspects of each lease
- Ensure that all retail leases are compliant with state, local, and lease terms/regulations
- Ensure that services are provided in compliance with policies, procedures, regulations and contractual obligations and standards
- Negotiate and review all LOIs and leases for vacant space and renewals
- Maintain tenant, construction, and property files
- Perform lease amendments
- Set up new lease files, abstract leases, and amendments
- Collaborate with outside counsel when needed
- Serve as the primary point of contact for each retail tenant
- Ensure timely and professional responses to tenant requests that are compliant with the terms of the lease
- Coordinate tenant move-ins and move-outs
- Prepare and distribute tenant announcements or notices, as necessary
- Coordinate tenant activities, fire drills, and all other events as necessary or requested
Property Operations and Asset Oversight:
- Perform regular property inspections
- Interview, hire and serve as the point of contact for brokers for retail space
- Meet with all prospective tenants prior to LOI negotiations to communicate expectations and assess long term suitability
- Inspect all current and proposed signage to ensure compliance with owner and lease standards
- Review and oversee all current and proposed TIs to ensure that all improvements are or will be compliant with both the owner and lease standards
- Attend public hearings and meet with public officials as needed
- Attend HOA meetings as the owner’s representative
- Identify maintenance and capital improvements for all retail spaces
- Assist in preparing vacant space for lease
- Work with internal Risk Department to ensure that insurance requirements are accurate and current
- Review tenant billings to ensure they are accurate
- Collaborate with Accounting to assist with monthly collections
- Prepare and deliver timely and accurate retail reporting
- Prepare annual retail budgets by property and tenant
- Manage all vendor contracts applicable to retail center and ensure compliant with NetVendor, or other vendor management software
- Partner with Accounting to monitor and follow up on accounts receivable and implement collections actions on delinquent accounts
- Oversee completion of CapEx projects to ensure projects are on time, on budget, consistent with local codes, in compliance with leases and CWS Standards, and coordinate associated tenant acceptance, when relevant
- Review and approve CAM estimates and CAM reconciliations for all tenants in the portfolio
- Ensure invoices are submitted and approved in a timely manner
- Assist with real estate tax reviews
- Understand the local retail real estate market and sub-markets
Qualifications and Requirements:
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Bachelor’s degree preferably in Real Estate, Business, or Finance
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5+ years of real estate investment management experience, retail/commercial leasing experience
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Multifamily experience strongly preferred
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Strong understanding of real estate valuation processes
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Underwriting experience
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Understanding of property appraisal process
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Strong communication skills
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Organized and detailed
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Self-motivated, passion for problem solving
This job description is not an all-inclusive list of duties and responsibilities. CWS may add or change responsibilities in order to meet business and organizational needs.
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