Leads and manages assigned centers; collaborates with all stakeholders to drive business and develops new opportunities.
Maximize the leasing potential of the Company's shopping center portfolio by analyzing, planning and implementing leasing strategy to attain the financial and tenant mix objectives of shopping center ownership.
Represent the Company to existing and prospective tenants, brokers and other outside contacts in a positive and professional manner.
Key Position Accountabilities:
Understand the key characteristics of the Company’s shopping center portfolio. Thoroughly understand and continually reassess characteristics of assigned shopping centers, including physical condition, demographic composition, market rental rates, co-tenancy, trade area competition and traffic patterns.
Research, analyze and make recommendations concerning prospective tenants for assigned shopping centers based on credit/financing impact, tenant mix, and return on investment.Pursue national, regional and local tenants within the targeted use categories via regular and systematic canvassing, cold calling, and networking.
Identify, qualify, originate, and negotiate terms and conditions of new and renewal retail lease transactions, generally under 40,000 s.f., for in-line and freestanding units within the Company's shopping center portfolio. Work closely with tenant representatives, attorneys and brokers, following through to completion of the final lease document.
Fully document the nuances of each prospective deal. Regularly communicate with ownership and other functional areas of the Company via lease logs, regular leasing report updates, and in person to ensure accurate understanding of leasing status and opportunities.
Facilitate the coordination and negotiation of initial tenant and landlord construction requirements with tenants and the Company tenant construction coordinator and/or development department.
Negotiate commission agreements with outside brokers, obtaining approval of ownership as necessary.
Provide budget re/forecast information to ensure that the budget realistically reflects projected leasing activity.
Attend ICSC convention meetings to develop and maintain tenant contacts and promote leasing opportunities.
Maintain the confidentiality of records, contracts, files, correspondence and all matters in which this position is involved.
Critical Success Factors (Measures of Performance)
Success indicated by lease transactions completed, measured in terms of:
Quantity (square footage leased, rental revenue generated, commission income produced, and number of transactions completed);
Quality (financial/operational strength and long-term viability of tenant, return on investment, terms and conditions of lease satisfactory to ownership, and tenant mix); and
Effort (work ethic, tenacity, initiative, resourcefulness, flexibility and commitment to improving leasing results).
Understand terms and conditions of the lease document from the perspectives of both landlord and tenant. Competently negotiate various fallback positions to the form document.
Exercise foresight in evaluating leasing situations and predetermining alternate courses of action.
Exercise positive team approach to problem solving.
Possess philosophy, values and personal work style compatible with the Company culture.
Experienced negotiator with a minimum of five years of sales/leasing experience. Proven negotiating ability as evidenced by quantity and quality of retail leases completed. Established working relationships with national tenant representatives in the 1500-15,000 sf range is required.
Experience working with elevated tiers of clients ensuring tenants are managed well and strong relationships are in place.
Prior management and oversight experience of assigned center; collaborates with team to drive deals and handles all reporting, management expirations, options, kickouts, etc.
Must have proven ability and experience in deal documentation: structure terms and speed of execution.
Understanding of the lease document and expertise in originating, negotiating and completing new and renewal leases for in-line and freestanding locations within existing open-air centers and new developments.
Ability to prepare market analysis, define market rental rates, and determine ideal tenant mix.
Proven ability to canvass, cold call and qualify prospective regional and local area tenants.
Possess a desire and necessity to travel and get in front of tenants around the country to drive and expedite deals.
Tenacity, integrity and professional business demeanor.
Efficient organizational and time management skills are required. Must be skilled at juggling multiple priorities.
Excellent verbal and written communication skills are essential. Ability to articulate detailed, formal proposals to seasoned real estate executives and attorneys as well as discuss key business terms with local "mom and pop" tenants. Ability to work effectively with a variety of personalities.
Excellent and work styles while projecting a calm, efficient, and professional manner.
Practical knowledge of computer operation is required. Familiarity with Windows, Word, Excel, Outlook, Salesforce and MRI (property management software) is a plus.
Real estate sales license is required (Massachusetts or a reciprocal state).
Millman Search Group is the nation’s only Recruiting Firm for the entire Retail Economy to specialize in: Retail, Luxury Retail, Food Concepts, Hospitality, Entertainment, Wellness AND the entire Retail Shopping Center Industry for all types of Management and Executive positions!
We’ve been around over 35 years placing thousands of managers – executives throughout the retail ecosystem. When we started, the “Retailtainment”, the “Food and Beverage” Explosion”, “Digital” and “Ecommerce” phenomenon hardly even existed, if at all in the United States. Fast forward… and we’ve mastered it all!
Whatever part of the Shopping Center Industry or tenant mix you are, we will find the ideal leaders for your business covering all field/property - corporate level position requirements you have. The best testament, is that a vast majority of our clients come back to us time and time again. Whether you are looking for leaders to take your business to that next step or entering the US for the first time, we are the firm to call!
How have we thrived as a management-executive level search firm for so long – and what does it mean for you?
• For one, we are serious about specializing: we a...re retail experts who understand the entire retail economy.
• We were early adopters of technology, but our true value is in traditional, person-to-person networking. Put simply: we know a lot of people who know a lot of people. You benefit from our enormous network.
• The most important secret to our success? We call it “The Millman Method”: know absolutely everything we need to know about your industry, your particular business, and the candidates we present to you.
The result? We don’t make placements, we make long-term marriages.
Don’t settle for candidates who merely “check all the boxes” – get business leaders that perfectly complement your organization! From corporate executives to senior specialists to field managers, we have you covered.
Ready to find the next leader for your business?