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Head of Retail Property Management

Salary
Competitive
Employment
Full Time
Work Place
Part Remote
Real Estate Field
Location
Chicago
Postal Code
60601
Country
Afghanistan

This job is no longer active.

Description


WHO WE ARE

Newcastle Limited is a growth-oriented, employee-focused real estate investment firm. We are long-term owners who acquire and develop multifamily, retail, and mixed-use properties in urban Chicago. We self-manage our portfolio through our Newcastle Retail Management and Reside Living brands. Our growing portfolio includes more than 3,000 apartments and 600,000 square feet of retail space. Our mission is to provide the best urban real estate experience for our residents and retail tenants, and the best value for our capital partners.

If you have an affinity for real estate and want to be part of a collaborative culture that strives to win, we want you as part of our team. Come power your career with us and enjoy the journey along the way.

WHAT YOU WILL DO

Newcastle is seeking a Head of Retail Property Management who will oversee our retail portfolio operations of more than 60 assets serving 150 retail tenants. You will lead a team to forecast and monitor financial asset performance, manage retail tenant relationships, confirm lease compliance, and safeguard the physical condition of retail assets using internal resources and third-party vendors. You will frequently interact with Newcastle's asset management, retail leasing, and accounting teams. You will partner with our development, residential operations, and finance divisions to redevelop or secure debt for portfolio assets.


RETAIL TEAM DEVELOPMENT

  • Develop and execute a team structure strategy that maximizes positive results toward our business goals.
  • Coach your team with goals and objectives to achieve milestones and career development.
  • Mentor and develop the team to grow bench strength and create future leaders at Newcastle.


MANAGING TENANT RELATIONSHIPS

  • Oversee the team’s onboarding of new tenants, initiating utilities, billing, and other connections, abstract and enter lease terms into Yardi, and convey essential information to the firm’s finance and asset management teams.
  • Coordinate interaction between tenants, tenant contractors, and Newcastle’s development and finance teams.
  • Coach the team to provide outstanding customer service to retail tenants, respond to tenant communication, resolve tenant lease concerns, facilitate maintenance requests, and manage lease assignments, terminations, and rent relief requests.
  • Enforce tenant lease obligations, including tenant insurance certificates, maintenance records, and sales reports.


OVERSEEING FINANCIAL MANAGEMENT

  • Assess financial asset performance, alert senior management to material exceptions or variances, and recommend corrective action.
  • Analyze tenant sales performance, identifying trends that may impact asset performance.
  • Lead internal stakeholders and the retail team to generate annual property strategic plans and budgets.
  • Partner with CFO to secure property debt.
  • Ensure that tenant financial obligations are collected and accounted for promptly.
  • Partner with retail accountants to manage tenant accounts. Identify tenant credit or payment issues and recommend corrective action.
  • Lead the team’s annual tenant RET/CAM/Insurance reconciliation project in a timely matter within a specific timeline.
  • Ensure updated RET/CAM/Insurance recovery estimates are calculated, billed, and communicated to tenants each calendar year.
  • Ensure new CAM estimates are calculated and distributed to tenants near the beginning of each year.


COORDINATING MAINTENANCE & CONSTRUCTION

  • Partner with Newcastle's development team on recommendations for significant capital initiatives.
  • Monitor tenant build-outs in retail spaces
  • Establish procedures for Newcastle Property Engineers and third-party vendors to implement preventive maintenance programs.
  • Conduct regular property visits, ensure vacant space shows well, and confirm building exteriors are in good condition with maximum curb appeal.
  • Manage the retail engineering team to ensure service requests are handled timely and professionally.
  • Oversee third-party vendor bidding and relationships for snow removal, roof, HVAC, and other service contracts.


ENSURING COMPLIANCE

  • Manage renewal of necessary permits.
  • Implement and maintain policies and procedures to ensure safety and compliance.
  • Report liability and property incidents to senior management.
  • Work with contractors, vendors, and attorneys to resolve violation notices.
  • Coordinate and lead property tours for lenders, brokers, vendors, insurers, and inspectors.
  • Where applicable, maintain relationships with condo boards to ensure REAs are followed regarding capital projects, budget/reconciliations, and other asset matters.


REQUIREMENTS

  • Bachelor’s degree in a related field.
  • Minimum of seven years of experience in retail property management. Relevant commercial property management experience is welcome.
  • Experience with property budgeting and forecasting
  • Strong leadership style and experience managing others
  • Aptitude for strategic planning and carrying out asset business plans
  • Ability to manage internal and third-party resources to accomplish tenant build-outs, capital projects, and strategic planning.
  • A robust approach to implementing a high level of customer service and responsiveness to both internal and external customers.
  • Familiarity and ability to negotiate retail leases and vendor/service contracts
  • Familiarity with Yardi or similar property management software.
  • Proficiency in the Microsoft Office Suite (Excel, PowerPoint, Word).
  • Understanding of property cash flow, financial statements, and accounting.


Newcastle Limited is committed to conducting all employment practices for employees at all levels without regard to race, creed, genetic characteristics, gender, color, religion, sex, national origin or ancestry, age, mental or physical disability, marital status, sexual orientation, veteran/military status, gender identity/status, pregnancy, childbirth or related medical conditions, or any other characteristic protected by applicable state, federal or local laws, except where a bona fide occupational requirement exists.


Newcastle Limited is an E-Verify employer. E-Verify is an Internet-based system operated by the Department of Homeland Security (DHS) in partnership with the Social Security Administration (SSA). It allows participating employers to electronically verify the employment eligibility of their newly hired employees in the United States.

 
 

Job Sector


 

Experience


7+ to 10 years


This job is no longer active.

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