What are the responsibilities and job description for the Partner in Training position at St. John Properties, Inc.?
Job Summary:
The purpose of the St. John Properties Partner in Training (PIT) Program is to prepare trainees to expand the company’s portfolio and become regional partners in a newly identified market. This is an intense 4-year program at the Baltimore headquarters. The PIT will learn every facet of the company’s full service and vertically integrated capabilities to include site selection, acquisition, development, design, construction, leasing, marketing and property management.
During the training period, the PIT will be competitively compensated and have a benefit package with other incentives. At the completion of the program and relocation to the new regional office, the PIT graduate will be competitively compensated and be eligible for equity participation in the future development.
Job Roles & Responsibilities:
Rotate through internal departments and successfully demonstrate understandings of the required skills for each respective department as detailed below:
During your rotation in Property Management, you will learn how to manage and operate stabilized assets, handle tenant payment disputes, negotiate contracts for maintenance vendors, and actualize the budget. You will also understand the expenses passed through common area maintenance charges and those handled directly by the landlord for development upkeep.
In Tenant Improvements, you will gain a strong understanding of how interior construction projects are bid out, awarded, and completed. You will send out construction drawings for prospective tenant buildouts to sub-contractors in a competitive bidding process, consolidate returned bids, and provide the Leasing team with the total construction cost.
Your rotation in Leasing will involve using your knowledge from Property Management and Tenant Improvements to negotiate the portions of a lease related to maintenance, operating expenses, real estate taxes, insurance, and landlord's construction obligation. You will also network with other brokers in the market, prospect for new tenants, and keep up with the marketability of the leasing portfolio.
In Acquisitions, you will work with the team to prepare, review, and negotiate purchase and sale agreements. You will also work on underwriting offering memorandums and help acquire new sites for the St. John Properties portfolio by working closely with the contracts and development teams.
During your rotation in Core and Shell Construction, you will bid out and manage construction projects for the company's ongoing pipeline of new buildings. You will gain exposure to the construction bid process, sub-contractors, and learn how to read, understand, and do take-offs from a set of construction drawings. You will also learn what is important to look for on-site to ensure the project is progressing under budget, in-line with the scope of work, and without major building errors.
Finally, in Development, you will shadow the SVP of Development and learn the steps required to successfully complete a development. You will gain exposure to rezoning properties, working with local and state agencies, and understanding the process to achieve building permits for construction. You will also learn what development looks for in potential acquisition sites and how to work cross-functionally with local officials, engineering teams, lawyers, and geo-technical teams.
Job Qualifications:
- 3-5 years’ experience in commercial real estate management required
- Master’s Degree in Real Estate or MBA with a real estate concentration preferred. Required to have completed prior to end of Partner In Training Program.
- Proficiency in Microsoft Office Suite including Outlook, Word, Excel
- Must possess strong verbal and written communication skills
- Excellent organizational skills and continual attention to detail
- Demonstrate ability to work independently as well as in a team environment
- Ability to handle confidential information appropriately
- Ability to establish priorities and meet deadlines
*Regular attendance onsite is an essential function of the job.
Salary : $100,000 - $125,000