Equity Residential (EQR) is an S&P 500 real estate company and an industry leading multi-family REIT, headquartered in downtown Chicago. Our portfolio of high-quality properties in growth markets —New York City, Boston, Washington DC, Seattle, San Francisco and Los Angeles— provides homes where people most want to live, work, and play. We've got the best people in the business and our experience shows in our dedication to our residents and in how much we value each other as colleagues. That’s why our employees say they are proud to work at Equity, a company that gives our residents a place and neighborhood where they can Live Remarkably, and offers a culture where our employees have the opportunity to make their mark.
As a Director of Retail for our California portfolio (LA, San Diego, and San Francisco), you will report to the Senior Vice President, Investments and will be responsible for overseeing the leasing activity of a portfolio of 160 retail spaces covering 316,000 square feet. In addition to managing our leasing strategy, you will work closely with the local Investment Officer and the Property Management team regarding asset management, construction, and operational issues associated with your retail portfolio. You will utilize your exceptional sales and networking abilities to manage all activities associated with retail leasing, including brokerage relationships, the strategic selection of tenants appropriate for the building and neighborhood, and working with the Capital team regarding space buildouts. Each day will be unique, requiring you to think strategically, take initiative, and employ a diverse set of skills in order to act in an ownership capacity.
As noted above, your retail portfolio will be located throughout Northern and Southern California. While Los Angeles is the preferred home office for the role, we are also open to exploring San Francisco as a home location for the ideal candidate.
WHO YOU ARE
- A Strong Communicator. Your writing and speaking skills are clear and effective, helping you connect well with others. You get to the point quickly and succinctly and can make complicated concepts and data clear to others. And even under stressful situations, you find it easy to employ your good listening skills, displaying a keen sense of what to say and when to say it.
- Organized and Confident. You are flexible, composed, and able to prioritize multiple tasks and deadlines simultaneously, while confidently interacting with individuals across all levels of the organization. You take great notes and know how to prioritize competing projects and tasks to make the biggest impact.
- Flexible and Adaptable. You enjoy managing a lot of things at once and you don’t mind jumping from one topic to the next. You are comfortable living in the grey and embrace change. You don’t get stressed easily when there is more to do than time allows - you like the challenge!
- A Solution-Oriented, Energetic, Positive Team Player. You are united with teammates and follow through on commitments, so you are known as trusted business partner and someone your teammates can count on.
WHAT YOU’LL DO
- Negotiate new lease terms for both new leases and renewals including rental rate, free rent, security positions and tenant improvement allowances. In addition, negotiate proper lease language appropriate for retail and office spaces in the assigned portfolio.
- Choose the right brokerage partnerships and manages these key relationships.
- Review marketing strategies presented by the brokerage teams.
- Establish, reviews and presents annual rental goals, operating expenses and tenant improvement amounts.
- Work closely with your regions’ Capital Projects Teams and Investment Officers regarding the buildout of select retail spaces including floor plan design for a particular use, reviewing the proposed signage, and involvement in discussions about material change orders.
- Partner with the Retail Analyst to prepare and review annual operating budgets including understanding the required capital spend for TI Allowances as well as the capital necessary to improve or preserve the retail spaces.
- Participate in the underwriting, due diligence, and set up of acquisitions.
- Assist in the design of retail spaces for new developments, including making sure the space has adequate power, access to a back of house, and the inclusion of vent stacks if a space is programmed as a food use.
- Become an expert on the surrounding retail neighborhood, the market rent and valuation of each retail space based on its location.
- Assist the Property Management team regarding the resolution of regular operating issues when necessary.
- Participate in the development and oversight of a property business plan for each asset.
- Work with the Retail Analyst and Retail Lease Administrator to assist in the calculation and billing of the annual CAM and RET expense reconciliations.
- Lead or participate in other special projects as necessary.
- Travel frequently throughout Northern and Southern California in order to remain in touch and hands on with the dynamics of each retail space and cultivate strong and collaborative relationships with retail tenants as well as property management teams.
REQUIREMENTS & PREVIOUS EXPERIENCE
- College degree required.
- Minimum 10 plus years of retail leasing and retail/commercial portfolio management, with at least 2 years of professional and progressive experience in managing projects required.
- A working knowledge of Excel, a Google platform and other retail related software programs.
- Must have superior communication skills (written and oral) and be able to manage a large, dynamic retail portfolio.
- Must be able to organize and prioritize workload and work on numerous projects/tasks at one time. Strong detail-orientation is critical, along with a strong work ethic and a proven ability to work under tight deadlines without sacrificing quality of work product.
- Experience working with property management software/databases (i.e. MRI, Yardi, etc.) is required.
- Travel between San Francisco and Los Angeles is required on a regular basis.
We recognize everyone has different needs outside of work. That’s why, in addition to a competitive benefits package (medical, dental, vision and paid time off), we offer many unique options to employees, we offer many unique benefits options to employees, like pet insurance and paid time off for community service projects. To learn more, view our Total Wellbeing page here: .
- Brokerage / Sales
- Portfolio Management
10+ to 15 years
Apply for this job