Director, Commercial Development

 

University Realty provides ASU with diverse real estate expertise to execute and assist with real estate transactions that ASU is unable to or, for a variety of reasons, chooses not to undertake. These services result in resources or owned assets that benefit ASU, such as differentiated endowment returns from commercial real estate development or partnerships; unique financing strategies to enable construction/renovation; and identifying and processing gifts of real estate.  

 

Under the direction of the Managing Director and Senior Vice President, Commercial Development, the Director, Commercial Development is responsible for the implementation and management of Real Estate Services for the ASU Foundation (ASUF) and selected Arizona State University (ASU) projects. This position is responsible for assisting in the closing of major development or acquisition projects, including coordinating internal equity capital, and real estate financing necessary in the purchasing or selling of the projects. The position will be the primary lead in managing the Partner relationship during execution and for negotiating ground leases and building leases with our development partner. The position oversees complex, mixed use urban development projects to support the University’s research mission and may include utilization of alternate financing vehicles as appropriate. Duties may include development projects that are totally commercial based.

 

 

What you’ll do: 

• In partnership with the Senior Vice President, Commercial Development or Managing Director, oversees and coordinates leases and construction projects

• Conducts financial analysis to include budget projections and trend analysis

• Develops and finalizes market information to gain approval of new projects and participates in the evaluation and decision-making

• Provide project progress updates against plan and recommend strategy adjustments to meet goals

• Ensures risks associated with business activities are effectively identified, measured, monitored, and controlled

• Ensures timely and quality property development and operation

• Executes on purchases, sales, and leases of identified real estate projects

• Negotiates contracts such as leases, purchase contracts, management and consultant contracts, etc.

• Establishes and maintains relationships with University staff involved in real estate issues

• Establishes and maintains relationships with Partners and vendors in the commercial development industry

• Establishes and oversees budgets for real estate projects

• Manages or advises other University Realty team as it pertains to commercial development knowledge and expertise to achieve company goals and grow capabilities of the team

• Work closely with the Managing Director to learn other aspects of the business and diversify expertise

• Other duties as assigned

 

What you'll need:  

• Collaborative style, combined with the ability and desire to work in a team-based environment 

• Ability to maintain a high degree of confidentiality and responsibility regarding information related to University Realty, ASU Enterprise Partners and subsidiaries, University business and confidential prospect information

• Strong and collegial interpersonal skills and an ability to communicate effectively in person, writing, and by phone

• Knowledge of principles and techniques pertaining to real estate

• Ability to work both independently and as part of a team

• Problem solver who can take initiative and set priorities while being flexible 

• Team-oriented strategist able to effectively manage complex situations involving numerous and sometimes competing constituencies

• Ability to represent the institution well

• An advocate’s belief in the vision of ASU as the New American University

• Attention to detail and thoroughness in completing assigned duties

• Highly organized and able to handle multiple projects

• Working knowledge of Microsoft Office Suite and comfortable underwriting deal parameters

 

Preferred Skills and Abilities:

• A combination of analytical and relationship building skills

 

Relevant qualifications: 

• Bachelor’s Degree in Real Estate, Business, Accounting, Architecture, Marketing or related field AND

• At least ten (10) years’ experience managing commercial real estate development, acquisition, financing, or asset management with previous responsibility over deal sourcing  

 

Preferred Education and Experience:

• Experience in real estate development, finance, acquisitions, and leasing