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Piedmont Office Realty Trust, Inc. (NYSE: PDM) is a fully integrated and self-managed real estate investment trust (REIT) specializing in the ownership and management of high-quality Class A office buildings located primarily in seven of the largest U.S. office markets, including Atlanta, Boston, Dallas, Minneapolis, New York, Orlando and Washington, D.C. Piedmont is investment-grade rated by both Standard & Poor’s and Moody’s and has limited property level debt.
This role will focus on driving the financial and operational performance for Piedmont’s Atlanta portfolio consisting of 11 Class A office buildings (4.5 MSF). Primary responsibilities will include developing/executing value add strategies, negotiating leases and building relationships with key market participants. Additionally, the Associate will partner with Regional Executive Vice President to underwrite potential acquisitions and new developments.
JOB REQUIREMENTS:
JOB RESPONSIBILITIES:
1) Work alongside Director/Vice President as well as Regional EVP on all Asset Management related functions for 11 core plus assets across the four most active Atlanta Submarkets. Play an integral role in driving value for Atlanta’s portfolio including Galleria on the Park.
2) Negotiate property-level contracts, including leases, licenses and, where applicable, third-party management and exclusive leasing listing agreements.
3) Proactively enhance property’s competitiveness; monitor local market conditions, anticipate trends, understand the building’s current and anticipated future occupancy and make recommendations on repositioning the property accordingly when needed.
4) Prepare Investment Committee recommendations on large lease transactions, redevelopment, and new development activity.
5) Be an integral member in the design and construction phase for new development, existing building redevelopment as well as adding amenities and retail.
6) Update Senior Management on leasing efforts, including both new leasing activity for vacant space as well as renewal activity on existing tenants. Work with the Southeast Team and third-party architect to design and construct industry leading spec suites throughout the Atlanta portfolio.
7) Review and prepare property budgets, including both projected leasing and building capital plans.
8) Update ARGUS Enterprise models used for ongoing cash flow projections and valuation models.
9) Identify ‘Value Add’ strategies for properties in the portfolio. Stay up to date on competing buildings including rental rates, concessions, amenities, leasing strategies and repositioning.
10) Partner with Regional EVP/Capital Markets to underwrite acquisition and development opportunities. Assist in the disposition process for non-core plus projects elsewhere in the portfolio.
11) Select and direct the transition of the property-level team (property manager, leasing agent, attorneys, and other third-party professionals) after acquisition
EOE/MFDV
Full Time
Investment Management
$76k-103k (estimate)
06/10/2024
07/04/2024
TROY, MI
100 - 200
2011
TAOKUNG CHEN
$500M - $1B
Investment Management
The following is the career advancement route for Associate - Asset Management positions, which can be used as a reference in future career path planning. As an Associate - Asset Management, it can be promoted into senior positions as an Asset Management Manager that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Associate - Asset Management. You can explore the career advancement for an Associate - Asset Management below and select your interested title to get hiring information.