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The base salary for this position may range from $175,000-$200,000 with eligibility for an annual discretionary bonus. Individual compensation varies based on job-related factors, including business needs, experience, level of responsibility and qualifications. DRA Advisors offers a competitive benefits package, 401k employer match, PTO, etc.
Required Education:
4 Year Degree
Asset Manager - Retail
POSITION SUMMARY:
The Retail Asset Manager is responsible for strategically managing value-add retail real estate investments to maximize property performance, asset values and investment returns.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Responsible for executing strategic goals at the property level, such as but not limited to: leasing, operating budgets, implementation of operating/capital plans, and comparative market studies
Manage joint venture structure relationships while executing the business plan for the assigned portfolio
Develop a thorough understanding of the real estate markets in which portfolio assets are located
In collaboration with team members, prepare, review and oversee the execution of the annual business plans for each property including development of leasing objectives, operating and financial budgets, and capital projects
Actively participate in the leasing process, which includes guiding property teams in strategy and approving all LOIs, new leases, renewals and redevelopments
Where necessary, identify and oversee third party property managers, leasing agents, consultants, attorneys, vendors, and subcontractors for the successful operation of each asset
Periodically visit and tour assigned assets, attend trade shows nationally, meet with brokers and tenants and seek out new business
Work in conjunction with the acquisition and disposition departments during the life of the asset
Manage due diligence process on new acquisitions
Master new markets as acquisition targets are identified by providing market assessments
Support in the disposition process as asset managed projects are monetized
Perform other duties and responsibilities as assigned
The duties and responsibilities listed above are representative of the nature and levels of work assigned and are not necessarily all-inclusive.
TRAVEL: Involves approximately 25% travel.
EXPERIENCE:
7+ years of experience in the retail real estate sector
Technology: Working knowledge of Argus Enterprise, Procore, Measurabl and VTS a plus
Deep “hands on” experience at the asset level including leasing and asset management negotiating skills
Knowledge into retailers’ market position, credit profiles, expansion plans, and co-tenancy preferences
SKILLS/COMPETENCIES:
Support ESG initiatives at the asset level and work with JV partners to comply to policies
Creative, opportunistic, and a very positive attitude, with an eagerness to solve problems
A strong work ethic, high integrity, and well-organized mindset
Ability to thrive in a highly demanding, entrepreneurial & fast-paced environment
A top performer, with a proactive approach who has a "doer" & problem-solver mentality
Independent, professional, committed, forceful but diplomatic, with ability to develop within the business to take on more responsibility
Display a wide range of interpersonal skills and initiative to resolve difficult issues as and when they arise
Excellent written / verbal communication and presentation skills are essential to synthesize information, make assumptions, and present key findings, conclusions, and recommendations
Strong attention to detail and accuracy along with ability to multitask and prioritize
Team player who demonstrates the ability to collaborate with employees throughout all levels of the organization
DRA Advisors LLC is a New York-based real estate private equity investment and management firm with an institutional and private investor fund base. For the past 30 years DRA has been a highly regarded equity joint venture partner with outstanding real estate operating groups. The firm invests nationally in the value-add retail, office, multifamily and industrial sectors. DRA's retail portfolio since inception has included 300 shopping centers, and the firm’s current retail portfolio consists of 28 million square feet of lifestyle, grocery-anchored, power and community centers.