The University of Minnesota’s Real Estate Team within Planning, Space, and Real Estate provides real estate leadership and services to the University of Minnesota System (Twin Cities, Duluth, Morris, Crookston and Rochester Campuses and numerous research and outreach centers). The Senior Real Estate Specialist position is responsible for (1) the management of real estate lease renewals, early terminations and other options in existing lease agreements; (2) new lease transactions as assigned; (3) license agreements, permits, and co-sponsorship agreement transactions; and (4) special projects as assigned. The Senior Real Estate Specialist reports to the Director of Leasing and Property Management.
The Senior Real Estate Specialist (SRES) is responsible for all renewals, amendments, early terminations and enforcing other terms in existing lease agreements with respect to landlord/tenant obligations for the entire University System. This includes advising University units on business terms, negotiation of terms and conditions, drafting renewal or termination letters, drafting amendments, coordinating the approval process, working with the Office of the General Counsel to ensure the appropriate legal documentation is developed and approved, ensuring the appropriate insurance requirements are met, preparing financial analysis when required and coordinating leasehold improvement projects when required and managing a wide range of issues encountered in real estate transactions. The SRES maintains this information in the University's Lease Inventory System and collects data for all existing lease-related agreements.
Accounting responsibilities include calculating rent increases and management of CPI increases. Responsible for the collection and entry of all maintenance and operations costs for the fiscal year. Provides back-up for generating monthly rent payments from the general ledger as needed.
This position is also the first point of contact in the Real Estate Office for the management of the specific on-going leases as determined by the Director of Leasing and Property Management and the associated University review/approval process for University approvals required pursuant to the terms of the lease.
30% – New Lease and Use Agreement Transactions:
The SRES is responsible for new Lease transactions and license agreements as assigned by the Director of Leasing and Property Management, for the entire University System. This includes market studies and analysis, maintaining and developing relationships with external parties such as landlords and brokers, advising University units on business terms, negotiation of terms and conditions, compiling site surveys for off-campus requirements, navigating and ensuring that transactions comply with University policies and coordinating approval process, working with the Office of the General Counsel to ensure the appropriate legal document is developed and approved, ensuring external parties and their requested use of University space aligns with the mission of the University and does not interfere with University’s internal use of space, ensuring the appropriate insurance requirements are met, financial analysis of complex long term leases, leasehold improvement coordination, and other lease transactions that require detailed analysis.
20% – Special Projects:
The SRES represents the Real Estate Office on other University Projects as assigned, which could include development of procedures to increase efficiencies, research projects, property evaluations, market studies, and liaison to other University departments.
BA/BS and at least five years experience in real estate or related field or a combination of education and experience of at least nine years.
Knowledge, Skills, and Abilities Essential to this Position:
Ability to communicate effectively, succinctly, and persuasively in writing, orally and interpersonally.
Strong financial and analytical skills.
Strong attention to detail.
Excellent judgment and ability to work independently.
Ability to coordinate multiple tasks and meet challenging deadlines.
Demonstrated integrity and adaptability.
Ability to effectively manage through ambiguous assignments.
Awareness of, appreciation for, and responsiveness to the needs of a diverse workplace.
Demonstrated ability and success in providing support to and working in teams, including working with and through others to accomplish goals.
Ability to develop and process information using MS Word and Excel.
Internal Number: 329620
About University of Minnesota, Twin Cities
The University of Minnesota, founded in the belief that all people are enriched by understanding, is dedicated to the advancement of learning and the search for truth; to the sharing of this knowledge through education for a diverse community; and to the application of this knowledge to benefit the people of the state, the nation, and the world.