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Retail Property Manager

Salary
Competitive
Employment
Full Time
Real Estate Field
Location
Chicago
 IL
Postal Code
60601
Country
United States

This job is no longer active.

Description


Newcastle Limited is a real estate investor and operating company that acquires, develops, and owns retail, multifamily, and mixed-use properties in urban Chicago. The firm's growing $1.6 billion portfolio consists of 90 assets comprising of ~3,000 apartments and ~60,000 square feet of retail space. An entrepreneurial investor with institutional backing, Newcastle can deploy large amounts of capital and close deals quickly. Newcastle has delivered outstanding returns to its capital partners for more than a decade and is poised to grow substantially over the next five years.

For more information on Newcastle Limited, please visit the company website at newcastlelimited.com.

POSITION SUMMARY

Newcastle Limited is seeking an experienced, motivated, and focused Retail Property Manager to be responsible for a portion of its retail portfolio. The successful candidate will oversee day-to-day property operations, coordinate capital repairs/improvements, implement strategic plans, plan/monitor asset financial performance, and manage tenant relationships. This dynamic position requires a self-starter able to move seamlessly between the office and the field, managing a range of vendors and service providers, while maintaining strong relationships with Newcastle Limited tenants and using a wide range of internal resources to accomplish agreed-to objectives. This is an exciting opportunity to join an established, well-capitalized real estate operating company, and play a key role in the company s ongoing success.

DUTIES AND RESPONSIBILITIES

  • Manage and maintain the physical condition and performance of the assets:
    • Oversee standard property repairs and maintenance;
    • Coordinate with Project Management on capital initiatives;
    • Negotiate annual service contracts;
    • Work with Newcastle attorneys to cure city violations;
  • Manage the financial operation and performance of the assets:
    • Review and approve invoices;
    • Prepare annual budgets;
    • Prepare quarterly forecasts;
    • Track and review monthly property financials;
  • Manage retail tenant relationships:
    • Respond to tenant R&M requests;
    • Review and enforce tenant lease requirements;
    • Resolve lease disputes;
    • Manage tenant lease requests assignments, terminations, rent relief;
    • Coordinate with Newcastle attorneys on lease amendments;
  • Support lease administration (with Retail Lease Manager):
    • Monitor and manage A/R;
    • Monitor and manage key lease dates (option notifications, termination rights);
    • Collect required tenant documents (certificates of insurance, HVAC contracts, tenant sales);
    • Approve budget recovery estimates and annual reconciliations;
  • Support leasing functions (with Director of Leasing):
    • Review proposed landlord's work per lease;
    • Confirm MEP information for premises;
    • Review/approve lease abstracts;
    • Coordinate and track landlord work on new leases;
    • Manage tenant build-out schedule (track key dates, collect necessary documentation);

QUALIFICATIONS

  • The ideal candidate will have at least 10 years of experience in retail property management
  • Experience overseeing multiple commercial and mixed-use properties
  • Familiarity with financial statements, an understanding of discounted cash flow analysis and the ability to create and use financial models in MS Excel that support decision-making
  • Self-sufficiency in the Microsoft Office Suite (Excel, Word, Outlook)
  • Experience with setting tenant CAM/ tax recoveries and performing year-end reconciliations
  • Desire and ability to work in a highly entrepreneurial environment
  • Ability to manage teams of internal and third-party resources to move the ball forward on a variety of projects and properties simultaneously
  • Strong familiarity with retail leases, service contracts, and other real estate legal documents
  • Ability to synthesize information and present findings and recommendations in a coherent, logical manner
  • Team player with a positive attitude, strong work ethic, ability to handle multiple assignments, good judgment, excellent follow-through and attention to detail
  • Excellent customer service skills and the ability to work with different personalities
  • Retail leasing knowledge a plus
  • Yardi knowledge a plus
 

Job Sector


 

Experience


10+ to 15 years


This job is no longer active.

Property Management Retail Chicago Full Time IL Accounting / Control, Operations, Property Management Property Manager other