Associate - Asset Management

Piedmont Realty Trust™ (NYSE: PDM) is a fully integrated, self-managed real estate investment company focused on delivering an exceptional office environment. As an owner, manager, developer, and operator of approximately 16 MM SF of Class A properties across major U.S. Sunbelt markets, Piedmont Realty Trust™ is known for its hospitality-driven approach and commitment to transforming buildings into premier “Piedmont PLACEs” that enhance each client’s workplace experience. 

This role will focus on driving the financial and operational performance for six Class A office buildings totaling over 2M SF.  Primary responsibilities will include developing/executing value add strategies, negotiating leases and building relationships with key market participants.  Additionally, the Associate will partner with Regional Executive Vice President to underwrite potential acquisitions and new developments.

JOB REQUIREMENTS:

• Bachelor’s degree required (finance, accounting or real estate focus preferred).
• 4-7 years of commercial real estate experience; 3 years focused on asset management preferred.
• Relevant experience in asset management and office lease negotiations is a plus.
• Effective interpersonal skills, with a proven ability to develop and foster relationships with internal and external key business partners.
• Strong organizational skills, sound judgement, along with the ability to manage multiple projects and prioritize work based on established deadlines.
• Advanced knowledge of financial analysis (NPV, IRR, lease comparison, ROI, DCF modeling, payback, financial statement analysis, etc.)
• Excellent written and verbal communication skills.
• Proficient in Excel, experience with ARGUS Enterprise and Yardi preferred.
• Physical requirements involve sitting to perform general office work at computer, and mobility between departments or office area to facilitate work.
• Routine travel is required for the position up to 20% of the time.

JOB RESPONSIBILITIES:

1. Negotiate property-level contracts, including leases, licenses and, where applicable, third-party management and exclusive leasing listing agreements.
2. Proactively enhance property’s competitiveness; monitor local market conditions, anticipate trends, understand the building’s current and anticipated future occupancy and make recommendations on repositioning the property accordingly when needed.
3. Prepare Investment Committee recommendations on large lease transactions, redevelopment, and new development activity
4. Update Senior Management on leasing efforts, including both new leasing activity for vacant space as well as renewal activity on existing tenants.
5. Review and approve property budgets, including both projected leasing and building capital plans.
6. Update ARGUS Enterprise models used for ongoing cash flow projections and valuation models.
7. Identify ‘Value Add’ strategies for properties in the portfolio. Stay up to date on competing buildings including rental rates, concessions, amenities, leasing strategies and repositioning.
8. Partner with Regional EVP/Capital Markets to underwrite acquisition and development opportunities. Assist in the disposition process for any future property sales.
9. Select and direct the transition of the property-level team (property manager, leasing agent, attorneys, and other third-party professionals) after acquisition.