VP, Retail Portfolio Property Management

Company

Our client is a privately held real estate investment and management firm with 50 years of experience acquiring, developing, and managing high-quality assets across the U.S. This includes 150 properties, 10M sq ft, including mixed-use, retail, office, residential, hospitality, self-storage, senior and student housing and industrial assets.

Position

Reporting to the Chief Operating Officer, the Vice President of Property Management Operations (VP) will oversee all property operations functions for the firm’s multi-tenanted shopping center portfolio comprised of 44 assets, approximately 5 million sq ft, across 17 states. The shopping centers are typically grocery/big-box anchored, often with major national chains.

The VP is responsible for the overall property management operations to maximize portfolio performance, profitable growth and optimal utilization of resources. This includes responsibility for the implementation of all plans, objectives and improvement of policies and procedures for the property management team to achieve annual goals and the strategic objectives. The VP will ensure efficient and reliable operations of the properties and maintain strong tenant satisfaction while also carefully managing expenses. The VP will also understand the individual property/entity operating statements with a focus on understanding the capital position of each property/entity. The VP will also develop services levels for each property based on the positioning of each asset.

The VP will hire and supervise the Property Managers and evaluate their performance, managing a direct staff of 5-6. The teams are ultimately responsible for preparing bid proposals, hiring outside contractors, maintaining positive relationships with tenants, preparing operating expense and capital budgets, supporting the leasing team with their marketing efforts and lease negotiations, working with the construction department to coordinate new tenant buildouts, and communicating with the accounting department regarding GL coding of property invoices.

Significant travel is required to ensure properties services are being delivered at acceptable levels.

Responsibilities

Property Plans and Operating Procedures

• Assume complete responsibility and accountability for all property management and reporting including establishing property level budgets and plans and executing those plans.
• Develop baseline assessment for each property with a measuring system to determine progress over time.
• Create revenue opportunities throughout the portfolio through ancillary programs like trash.
• Identify deferred maintenance issues and create a schedule and a plan to address.
• Improve, define, and implement key processes, systems, and property management industry best practices. This includes standard operating procedures focused on structure and process as well as establishing baseline assessments of each property and moving towards high service levels across all properties.
• Improve the operating performance of all properties by aggressively controlling expenses. Competitively bidding vendor contracts including consideration of aggregating services.
• Coordinate property management functions with accounting, construction, leasing and other business units toward a common goal of efficient and profitable property operations and management.
• Develop, track, analyze, measure and report on property financial and performance trends.
• Provide information and direct input in major fiscal activities, including business planning, budget preparation, financial planning, and partner relations.
• Provide oversight to ensure the quality of the physical and operations of the properties, within the property management portfolio, remains above industry standards.
• Supervise the implementation of the company’s safety and emergency procedures training program and measure the effect on risk management.
• Lead and direct Property Managers in preparing operating expense budgets for each property, and be responsible for reviewing, revising, and submitting the budgets which, when approved by leadership, shall constitute the fiscal plan for each property. Responsible for overseeing the Property Manager’s preparation of capital expense budgets for each property. Oversee the Property Managers in execution of the approved work.

Managing the Team

• Supervise, mentor, train and guide the property management team assigned to the properties within the property management portfolio.
• Foster a work ethic and working culture that is hard working, results oriented, collegial, proactive, and entrepreneurial while emphasizing accountability and skills development.
• Supervise the property managers in their oversight of lessee’s tenancy, lease provisions compliance and TI oversight.
• Supervise the property managers in their responsibility to manage all property personnel. Besides direct day-to-day management, responsibilities include recruiting, training, evaluation, and salary administration.
• Supervise the Property Managers in connection with the repair, maintenance, and operation of the portfolio as well as their interaction with 3rd party vendors.

Internal/External Relationship Management including Tenant Relationship Management

• Maintain strong relationships with partners and stakeholders.
• Develop, implement, and maintain a positive tenant relations program, including active involvement in accounts receivable and collections process.
• Conduct recurring meetings to review property inspections, timing of capital expenditures, and overall operating expense spending with direct reports and senior management.
• Monitor and oversee timely and cost-efficient performance of tenant improvements and related capital expenditures including coordination of construction management to ensure projects are on budget and schedule.
• Liaise between Property Managers and tenants on issues of concern. Periodically review service calls for timely resolution and identifying potential problems.
• Evaluate customer service levels across all tenants/properties and create plans to maintain and improve those measures.
• Work closely with the internal leasing team for new leases and renewals.
• Lead emergency planning and preparedness. The VP has the authority to make decisions in the event of an emergency. Review with Property Managers response to any property emergencies. Advise Senior Management of catastrophic emergencies. Take necessary steps to safeguard or minimize damage to property.
• Represent company in selected business community and industry organizations and groups and maintain certifications (i.e., CPM, RPA, etc.).
• Regularly visit properties to ensure the centers are in good operating order and appearance

Qualifications

• 10 years of property management experience, with the majority in the retail shopping center sector.
• The ideal candidate will bring experience in the retail shopping center sector overseeing the physical operation, maintenance, contract negotiation and fiscal management of retail shopping centers.
• Bachelor’s Degree preferred.
• RPA (Real Property Administrator) or CSM (Certified Shopping Center Manager) designation preferred.
• Working knowledge of leasing, accounting, and property operations.
• Experience creating and managing budgets and producing monthly, quarterly, and yearly property management reports and business plans.
• Multi-site and multi-state leadership experience is required.
• Experience hiring and managing a team of property managers is required.
• Familiarity with building systems, building design, and interior construction.
• Proficiency with MS Word, Excel and property management software such as MRI and Nexus.
• Valid driver’s license, flexibility and availability to travel to sites as needed is required.

Personal Skills & Attributes

• Strong interpersonal skills.
• Demonstrated organizational skills.
• Exceptional verbal and written communication skills.
• Proven history as effective team member and leader.
• Strong analytical skills, problem analysis, project budget modeling and project scheduling experience.
• Ability to see the big picture.
• Strong leadership and teamwork ability including the ability to effectively delegate, coach, and develop skills to achieve the desired outcome.
• High level of professionalism and diplomacy.
• Ability to set personal and project priorities and demonstrate strong organizational skills in day-to-day and long-term planning and execution.