Commercial Asset Manager

Description

The Commercial Asset Manager exists to provide operational, analytical, and strategic support to the Commercial Asset Director, ensuring the effective performance, protection, and long-term value of the organization’s commercial real estate assets. This role is responsible for executing the daily activities of asset management while enabling the Director to focus on portfolio strategy. This position will be monitoring Net Operating Income (NOI), ensuring assets remain competitive in their markets, optimizing revenue streams through leasing, renewals, and occupancy strategies, and controlling expenses through smart vendor, maintenance, and operational decisions The Asset Manager ensures assets perform at or above targets supporting the Director’s responsibility for portfolio-level performance.

Requirements

Responsibilities of the Asset Manager

•  Assist in selection process of brokerage, property management, and other contracts 
• Coordinate with on-site third-party property management teams in budgeting, operations, tenant onboarding, and capital projects
• Lead lease negotiations and underwriting of tenant applications in accordance with asset strategy and guidelines determined by ownership
• Research market trends to remain competitive while driving revenue growth 
• Collaborate with brokers and legal counsel to secure new tenants, renewals, and favorable lease structures 
• Collect tenant upfit plans, and collaborate with Construction Management and Development Management for approvals
• Manage communication, coordination, and compliance from lease execution to rent commencement, including tracking trigger dates, sending timely notices, and the execution and organization of applicable documents
• Provide leasing updates for first-gen and second-gen commercial space
• Monitor and report on monthly/quarterly asset performance against targets
• Forecast cash flows, evaluate capital needs, and optimize operating costs
• Estimate and reconcile tenant pro-rata shares of operating expenses, accounting for CAM caps, base year stops, and gross-ups
• Complete site visits to inspect property conditions, assess potential hazards/risks, and determine appropriate actions
• Evaluate, authorize, and track building improvements and major repairs, ensuring quality and cost-effectiveness
• Ensure compliance with regional regulatory requirements, zoning, easements, insurance, and debt service covenants
•  Participate in lender calls, partnership calls, and board presentations
• Lead or assist in execution of refinancing, acquisitions, dispositions, insurance renewals, tax appeals, and other initiatives

Essential Knowledge, Skills & Abilities

 The   ideal candidate is/has:

• A results-driven self-starter with an entrepreneurial   spirit
• Ability to scale productivity with   portfolio growth
• Financial literacy and practical business   acumen with a strong command of MS Excel
• Contractually adept, fluent in legalese, and skilled in strategic lease negotiation
• Skilled communicator who simplifies   complexity into high-level digestible insights
• Organized, and can prioritize effectively to   deliver accurate, polished work on time
• Creatively navigates challenges with   innovative solutions
• Adaptable and intuitive, improving future outcomes   through applied learning

 Routine Decision Making

• Assist in selection process of brokerage, property management, and other contracts 
• Lead lease negotiations and underwriting of tenant applications
• Evaluate, authorize, and track building improvements and major repairs, ensuring quality and cost-effectiveness
• Develop, implement, and update strategic business plans and budgets

Education and Experience Required of the Asset Manager

•   Bachelor’s degree, preferably in Real Estate, Finance, Business, or related field
• Relevant experience may substitute for a degree in the specified fields
• 3+ years' experience in commercial real estate
• 2+ years' asset management experience
• Familiar with property management software (MRI and Yardi preferred)

Essential Travel Responsibilities 

•   Ability to travel (up to 30%)

Essential Physical Requirements

This role   requires the ability to perform office-based analytical work and to conduct   periodic property inspections, including walking properties, climbing stairs, and navigating active operational environments as needed. Lifting would come   in the form of a laptop or luggage for traveling. While walking job sites, construction areas, and commercial properties there may be uneven surfaces,