Retail Portfolio Director - East Coast Region

Equity Residential•Washington, WA

8h•$122,162 - $167,972•Hybrid

About The Position

The Retail Portfolio Director is responsible for overseeing leasing activity in the East Coast region as well as working closely with the local Investment Officer and the Property Management team regarding asset management, construction, and operational issues associated with the assigned retail portfolio and associated parking garages. This position will also work closely with the Capital team regarding the buildout of select retail spaces. This role will be responsible for managing activities associated with retail leasing including brokerage relationships, the strategic selection of tenants appropriate for the building and neighborhood, working with the Capital team regarding the build out of the space, and acting in an ownership capacity. WHAT YOU’LL DO: This position negotiates new retail/parking/office space lease terms for both new leases and renewals including rental rate, concessions, security positions and tenant improvement allowances. In addition, negotiates proper lease language as appropriate for retail, parking garages and office spaces in the East Coast region. Chooses the right brokerage partnerships and manages these key relationships. Reviews marketing strategies presented by the brokerage teams. Establishes, reviews and presents annual rental goals, operating expenses and tenant improvement amounts. Works closely with the Capital Projects and the Investment Officer regarding the buildout of select retail spaces including floor plan design for a particular use, review the proposed signage and will likely be involved in discussions about material change orders. Works with the Retail Analyst to prepare and review annual operating budgets including understanding the required capital spend for TI Allowances as well as the capital necessary to improve or preserve the retail spaces. Assists in underwriting of acquisitions, due diligence and set up of new acquisitions. For new developments, assists in the design of retail spaces within these new EQR developments including making sure the space has adequate power, access to a back of house, and the inclusion of vent stacks if a space is programmed for food use. A critical task is understanding the surrounding retail neighborhood, the market rent and valuation of each retail space based on its location. Assists the Property Management Team regarding the resolution of regular operating issues when necessary. Participates, as necessary, in the development and oversight of a property business plan for each asset. Works with the Retail Analyst and Retail Lease Administrator to assist in the calculation and billing of the annual CAM and RET expense reconciliations. Represents the Company in a professional manner at all times. Consistently maintains a professional courteous attitude when dealing with residents, coworkers, and the general public. Performs other duties as necessary.

Requirements

College degree required.
Minimum 7+ years of retail leasing required.
3+ years prior experience leading others/managing small teams.
Must have superior communication skills (written and oral) and be able to manage a large, dynamic East Coast retail portfolio.
Must have excellent analytical skills, be detail-oriented, have good business sense, and be able to work on numerous projects concurrently with the ability to constantly prioritize workload.
A working knowledge of Excel is required; familiarity with Google platform is a plus.
Computer w/Internet and work within a Google platform.
Valid driver’s license and auto insurance required.
Must be available for regular local and overnight travel (approximately up to 25% annually) in EQR market(s) that make up the East Coast region.
Hybrid working environment: office, remote, and onsite at properties within assigned market(s).

Responsibilities

Negotiates new retail/parking/office space lease terms for both new leases and renewals including rental rate, concessions, security positions and tenant improvement allowances.
Negotiates proper lease language as appropriate for retail, parking garages and office spaces in the East Coast region.
Chooses the right brokerage partnerships and manages these key relationships.
Reviews marketing strategies presented by the brokerage teams.
Establishes, reviews and presents annual rental goals, operating expenses and tenant improvement amounts.
Works closely with the Capital Projects and the Investment Officer regarding the buildout of select retail spaces including floor plan design for a particular use, review the proposed signage and will likely be involved in discussions about material change orders.
Works with the Retail Analyst to prepare and review annual operating budgets including understanding the required capital spend for TI Allowances as well as the capital necessary to improve or preserve the retail spaces.
Assists in underwriting of acquisitions, due diligence and set up of new acquisitions.
For new developments, assists in the design of retail spaces within these new EQR developments including making sure the space has adequate power, access to a back of house, and the inclusion of vent stacks if a space is programmed for food use.
Understands the surrounding retail neighborhood, the market rent and valuation of each retail space based on its location.
Assists the Property Management Team regarding the resolution of regular operating issues when necessary.
Participates, as necessary, in the development and oversight of a property business plan for each asset.
Works with the Retail Analyst and Retail Lease Administrator to assist in the calculation and billing of the annual CAM and RET expense reconciliations.
Represents the Company in a professional manner at all times.
Consistently maintains a professional courteous attitude when dealing with residents, coworkers, and the general public.
Performs other duties as necessary.