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Development Executive - Minneapolis

Salary
$150,000-$174,999
Employment
Full Time
Real Estate Field
  • Development
Location
Golden Valley
Region
MN
Postal Code
55422
Country
United States

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Description


Company

Mortenson Company is one of the largest building project delivery organizations in the United States. Headquartered in Minneapolis, Minnesota and founded in 1954, Mortenson is a total facility services enterprise. Today, the company operates as a diversified real estate organization, offering services in feasibility, asset assessment, development, construction, design-build, diverse workforce planning, facility operations, and program management. Mortenson’s mission is to help all customers achieve their goals - anywhere in the world. Mortenson maintains its company headquarters in Minneapolis, with regional offices in Chicago, Denver, Milwaukee, Phoenix, Seattle, Portland and Winnipeg, Manitoba, Canada. Smaller offices are staffed as needed throughout North America in order to serve the unique needs of our customers. We also have divisions that specialize in certain types of building types and customers, such as federal work, renewable energies, sports venues, and mission critical facilities.

Development Capabilities

Mortenson Development, Inc. boasts a nationally recognized development team that delivers everything our customers need to facilitate the successful delivery of its capital projects. This strategy focuses on four key functions: Strategic Positioning, Operations Improvement, Capital/Project Management and Real Estate Optimization. Across this multi-disciplinary approach, we provide thought leadership and partner with the customer to help align facilities solutions, financial opportunities and business needs.

With a real estate development group that dating back to 1975, Mortenson has the know-how and experience to anticipate and overcome any issue, big or small, that might arise in the development process. Financing, government affairs, speed of delivery, public and private partnerships, and cost containment are just a few of the issues we have successfully guided our customers through over the years.

Our business philosophy is dedicated to trusting relationships, excellence in performing services, and advanced technology in building. We have built a reputation for being a solid and progressive company that is trustworthy, responsible, and a leader in our industry and in the communities in which we live and work.

Notable Development Projects include:

  • AC Hotel – Minneapolis ($51,000,000)
  • Mall of America Expansion – Bloomington ($252,000,000)
    • JW Mariott Hotel
    • 610 stall parking ramp
    • Three levels of retail expansion 268,000 square feet
  • Discovery Square – Rochester ($30,000,000)
  • 333 Hennepin – Minneapolis ($81,000,000)
  • 4Marq – Minneapolis ($72,000,000)
  • Hampton Inn and Suites – Minneapolis ($37,000,000)
  • Radisson Blu – Bloomington ($137,000,000)
  • Stream Data Center - Chaska ($32,000,000)

Every facet of Mortenson’s business is guided by these foundational elements:

  • Mortenson Values: M. A. Mortenson Company is dedicated to values of Trust, Responsibility, Safety, Teamwork, Service, and Stewardship. 
  • Purpose Statement: Building structures and facilities for the advancement of modern society. 
  • Mission: Create an exceptional customer experience.

The company is frequently named one of the Best Places to Work and is the recipient of numerous awards for quality, safety, and innovation. In addition, Mortenson has positioned itself at the forefront of the sustainability movement and has earned a reputation as a leader in sustainable and energy-efficient facilities. As part of a commitment to stewardship, five percent of pre-tax income is donated annually to provide assistance locally, nationally, and internationally.

Position: Development Executive - Minneapolis

The Development Executive will be charged with advancing Mortenson's real estate finance and process consulting and project development strategy in the Minneapolis market. The Minneapolis based role will work closely with the Mortenson's local leadership team as well as the national development services and program management teams to find strategic opportunities that meet the Company's investment parameters on a risk-adjusted basis. This position will report to and receive oversight from the Senior Vice President and General Manager of Mortenson Development, Inc. and will have a close teaming relationship with the Mortenson leadership team based in Minneapolis.

Key Responsibilities:  

  • Provide input for a strategic development plan for the business which includes:Understanding the Minneapolis market and how to capitalize on new development opportunities using a creative and entrepreneurial approach
    • Networking with customers, architects, brokers, financial institutions and other leaders in the Minneapolis market.
    • Generate offers for development opportunities, negotiating and executing Letters of Intent with prospective Sellers.
  • Cooperate with legal counsel in the preparation of Purchase Agreements and related legal documentation necessary to complete transactions.
  • Oversee and coordinate the underwriting and due diligence of assigned transactions, including financial modeling, board approval presentations, market surveys, tenant credit analysis, tenant interviews and ordering, coordinating, and analyzing third party reports.
  • Provide Company management with information regarding current conditions, including supply, demand and competitor activity in the Minneapolis market.
  • Execute the development processes for all acquired land and being creative in making the deal successful.
  • Identify and source opportunities to grow the Minneapolis market portfolio.
  • Develop and maintain debt and equity capital relationships.
  • Lead transition of acquired property to the development team for execution.
  • Review and evaluate third party due diligence reports.
  • Develop and implement strategic business plans to maximize cash flow and value.
  • Conduct extensive market research including broker interaction and property inspections.
  • Prepare investment memorandums for equity investors.
  • Be active in real estate organizations oriented toward the healthcare market.

Qualifications: 

  • Four year college degree is required with major course work in real estate, finance, engineering, business administration or another related field preferred.
  • Master's degree in real estate or real estate related field of study preferred.
  • 10-15 years relevant development and real estate experience including strong foundational knowledge of the Minneapolis real estate development market.
  • Proven professional expertise in the entire real estate development process from site acquisition to project financing.
  • Business development experience with a track record of growing and building customer relationships.
  • Critical characteristics include: strategic, self-directed, organized, responsive, tenacious, independent, creative, resilient, collaborative.
  • Excellent networking, marketing and relationship skills.
  • Superior customer service skills.
  • Excellent written and verbal communication skills.
  • Strong analytical background and experience.
  • Computer/technology skills including Microsoft Office.
  • Ability to work independently with limited supervision.
  • Ability to work under pressure and coordinate numerous activities and groups of people in order to achieve maximum efficiency.
  • The candidate must personally possess traits that are consistent with Mortenson’s values and leadership competencies. This person will be a down-to-earth, practical person who operates with humility and models his/her commitment to a fun workplace.

Job Functions


  • Development
  • Transaction
  • Due Diligence
 

Job Sectors


  • Hospitality / Entertainment
  • Healthcare
  • Office
  • Retail
 

Experience


10+ to 15 years


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