CenterCal Properties LLC (CenterCal), a leading retail shopping center developer and manager based in El Segundo, California, is seeking a seasoned, team-oriented Retail Commercial Real Estate Asset Manager that can oversee a portfolio of premier real estate assets in multiple markets and can work collaboratively with all departments. The Asset Manager will play a critical role in the evaluation and analysis of lease transactions, and work in coordination with the leasing, finance, construction and property management departments of the company, help manage the portfolio to creatively, effectively and efficiently maximize value of the current assets. This position will be filled with an individual who has an innovative approach towards becoming an industry leader of best practices and fundamentals. Submit your resume/profile and let's talk!
In return, CenterCal offers a fun and collaborative work enviornment with personal and professional challenges that lead to growth and a compensation package you can feel good about:
Base salary + bonus potential
100% employer paid premiums for the employee's medical, dental & vision
Three weeks of accrued vacation
Six sick days
Two paid community service days – one individual volunteer day and one company-sponsored.
Work from home one day per week for most positions.
Key responsibilities of this position include:
• Proactively oversee the management of existing assets. The Asset Manager should be hands-on and knowledgeable about any significant issues at the property level and be able to resolve directly or present to senior management the issues and a plan of action as soon as they arise. • Perform comprehensive hold/sell analysis on assets and strategize capital improvement plans/budgets. • Prepare an annual Asset Management Plan for the individual assets. Update and track results of the plan on a monthly basis. • Track key leasing milestones, leasing velocity, timing of leasing from deal approval to tenant opening, co-tenancy clauses, expirations, tenant and landlord termination options, and property sales performance. Effectively communicate each metric to management, leasing and property management. • Lead due diligence efforts for both dispositions and acquisitions within the assigned market. • In conjunction with a financial analyst, prepare and evaluate quarterly valuations. Ensure market leasing assumptions and other key assumptions are up to date. • Perform redevelopment analysis on assets within in the portfolio and actively participate in authoring the redevelopment strategies of same. • Develop a strategic growth plan for the portfolio and participate in the execution of same through investment activity. • Enhance client relations/retention by making changes in management practices important to retailers. • Maintain overall responsibility for property level budgeting, tracking of financial performance, and roll-up of portfolio budgets. Overall responsibility for preparation of annual business plans for each asset. • Analyze and monitor capital improvement and renovation recommendations where needed to ensure proper property maintenance, competitive positioning or market repositioning developing strategic initiatives as appropriate. • Responsible for the financial analysis, reports and recommendations associated with the leasing and operations of the assigned assets. • Assist leasing and management teams with merchandising plans for the properties. • Where appropriate, assist in managing national retailer relationships and deal making. While this position does not engage in any direct retail property management or leasing functions, the position may selectively require engagement in tenant direct activities or communications. • Conduct market research and competitive analysis for each asset to determine various factors impacting property level performance. • Provide direction and a sense of urgency with a focus on NOI growth, CAGR, and property level and portfolio level returns. • This role is strategic in nature, making the day to day decisions on execution across the existing portfolio, and will own the annual budget/P&L. • This role will interface daily with in-house leasing, property management and construction/Tenant Coordination and will have decision making rights across each of these verticals. • In conjunction with the finance department, monitor, track and report on loan covenants. • Regularly travel to the assets to meet with on-site teams, partners and tenants.
• 4-year degree in business, finance, or related field • At least 5 years of experience in retail commercial real estate • Proficiency in Excel, Word and PowerPoint; Argus skills desirable • Strong work ethic; self-motivated; results-oriented; capable of effective independent judgment • Strong strategic mindset and the ability to communicate effectively both internally within the company and externally with clients, partners and tenants. • Fully-versed in financial and business analysis and the ability to integrate redevelopment, design, marketing, leasing and operational variables into sound business decisions.
About CenterCal Properties
CenterCal is a premier retail real estate company focused on development and acquisitions in the western United States with expertise in building and redeveloping outdoor lifestyle centers, power centers, and regional malls. As one of most active retail developers in the United States, CenterCal has an extensive track record of successfully leasing retail centers with high-quality tenants, and CenterCal's strong equity base and efficient management platform position the company to successfully execute on emerging opportunities in any economic climate.