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Senior Vice President of Property Leasing

3 months ago

Burnaby, British Columbia, Canada Beedie Full time

Position Overview

As one of the foremost property management firms in Western Canada, overseeing a diverse portfolio of over 165 properties and more than 14 million square feet of leasable area, we are seeking a Senior Vice President of Property Leasing. This pivotal role is designed to enhance the effectiveness of our leasing portfolio, focusing on attracting new tenants while ensuring the satisfaction and retention of current occupants through outstanding service and relationship management. Responsibilities include budget oversight, income management, and profitability enhancement.

Leadership and Team Management

Direct the Leasing team across all functions, including new leases, renewals, tenant relations, lease modifications, and broker interactions. Provide mentorship and guidance to team members. Evaluate team performance and address situations with fairness and consistency.

Financial and Portfolio Oversight

Supervise the portfolio's financial performance against established budgets, manage cash flow, and provide strategic insights on asset capitalization. Assess market dynamics, occupancy rates, and competitive pricing to recommend appropriate market rents and retention strategies. Ensure the timely preparation and dissemination of essential reports, including lease summaries and market analyses. Track vacancy rates within the portfolio and the broader market landscape. Maintain comprehensive databases for operating budgets and lease transaction records. Authorize purchase orders and invoices within designated limits. Grasp development pro formas, annual operating budgets, and lender stipulations pertinent to leasing operations.

Acquisition Collaboration

Collaborate with the Acquisitions Team, including senior leadership, to analyze and evaluate new acquisition opportunities. Contribute insights to ownership regarding overall acquisition strategies and justifications.

Tenant Engagement and Leasing

Engage with potential tenants, showcasing available properties and providing detailed information on unit sizes and pricing. Foster relationships with existing tenants through regular communication and organized events. Generate new leasing opportunities through proactive outreach to market tenants and real estate professionals. Coordinate tenant improvement needs with property management and monitor progress throughout the construction phase.

Legal and Compliance Management

Work alongside the Legal team on lease negotiations and compliance matters, reviewing litigation statuses as they pertain to assets. Facilitate the drafting and execution of all legal lease documentation, suggesting updates as required. Negotiate lease terms, amendments, buyouts, and terminations. Collaborate with the Development Team and senior leadership to finalize significant build-to-suit leases, which often involve substantial financial commitments.

Marketing and Broker Engagement

Oversee the creation of marketing materials aimed at Real Estate Brokers. Manage marketing initiatives for available properties. Partner with the Marketing team to develop effective leasing promotional materials. Assess the necessity for broker involvement, negotiate listing agreements, and oversee their performance.

Administrative and Operational Coordination

Conduct market analysis and prepare lease term proposals. Draft proposals, offers to lease, lease agreements, and other relevant documents for current and prospective tenants. Collaborate with property managers to ensure maintenance and repairs enhance property appeal. Manage the utilization of Yardi systems related to the Leasing team. Optimize processes for prospecting and closing leasing agreements. Work with internal teams to prepare lease briefs for necessary approvals.

Qualifications and Experience

A minimum of 10 years of senior leadership experience in leasing. A Bachelor’s Degree or equivalent professional experience is required. Proficiency in Yardi (Deal Manager, Voyager 7S). Established connections within the commercial real estate and brokerage sectors. Familiarity with industrial construction methodologies and processes. Exceptional interpersonal and relationship-building capabilities. Strong leadership and supervisory skills. Ability to comprehend market-specific demographics. Excellent negotiation skills for successful lease transactions. Proficient verbal and written communication skills. Strong problem-solving and analytical abilities.