What are the responsibilities and job description for the Junior Asset Manager, Industrial - Southeast position at Lightstone?
Company Overview
Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 26 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 209 existing properties, Lightstone’s over $9 billion portfolio currently includes over 12 million square feet of industrial, life sciences, and commercial properties, over 30,000 residential units, and over 5,100 hotel keys. Lightstone’s development portfolio includes over $3.5 billion currently under development in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.
Industrial and Logistics Investments
Through a creative and disciplined approach to acquisitions and property-level execution, Lightstone continues to strategically expand its holdings in the industrial and logistics sector, capitalizing on a generational shift toward ecommerce and continued supply chain evolution. Lightstone is able to utilize its multidisciplinary team and direct third-party relationships to identify operational inefficiencies prior to acquisition and optimize cash flow through hands-on leasing and asset management, generating exceptional risk-adjusted returns in a competitive market segment.
Starting in 2020 Lightstone has annually successfully transacted on more than $1 billion dollars of new industrial product in institutionally proven submarkets with proximity to key logistics infrastructure. Lightstone anticipates an ongoing annual investment target of $1 billion to $2 billion for the industrial platform with the expectation to continue expansion not only in their current markets but new strategic markets in the west. The current portfolio exceeds 10 million square feet nationally, with assets located throughout the Southeast, East, Mid-Atlantic and Midwest regions.
Position Overview
The Junior Asset Manager will support all facets of the Industrial Asset Management operations for the Southeast Portfolio, which consists of 35 industrial buildings totaling approximately 12 million SF. This role will report directly to the Regional Asset Manager for the Southeast.
The ideal candidate would be base in either Charlotte, NC or Atlanta, GA.
Essential Functions
Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 26 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 209 existing properties, Lightstone’s over $9 billion portfolio currently includes over 12 million square feet of industrial, life sciences, and commercial properties, over 30,000 residential units, and over 5,100 hotel keys. Lightstone’s development portfolio includes over $3.5 billion currently under development in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.
Industrial and Logistics Investments
Through a creative and disciplined approach to acquisitions and property-level execution, Lightstone continues to strategically expand its holdings in the industrial and logistics sector, capitalizing on a generational shift toward ecommerce and continued supply chain evolution. Lightstone is able to utilize its multidisciplinary team and direct third-party relationships to identify operational inefficiencies prior to acquisition and optimize cash flow through hands-on leasing and asset management, generating exceptional risk-adjusted returns in a competitive market segment.
Starting in 2020 Lightstone has annually successfully transacted on more than $1 billion dollars of new industrial product in institutionally proven submarkets with proximity to key logistics infrastructure. Lightstone anticipates an ongoing annual investment target of $1 billion to $2 billion for the industrial platform with the expectation to continue expansion not only in their current markets but new strategic markets in the west. The current portfolio exceeds 10 million square feet nationally, with assets located throughout the Southeast, East, Mid-Atlantic and Midwest regions.
Position Overview
The Junior Asset Manager will support all facets of the Industrial Asset Management operations for the Southeast Portfolio, which consists of 35 industrial buildings totaling approximately 12 million SF. This role will report directly to the Regional Asset Manager for the Southeast.
The ideal candidate would be base in either Charlotte, NC or Atlanta, GA.
Essential Functions
- Oversee asset management of shallow bay industrial assets in the Southeast region
- Participate in the preparation and execution of the property business plans
- Manage all leasing functions for new deals and renewals for tenants under 50,000 SF
- Travel to the markets and tour the assets under management and conduct on-site property inspections
- Develop in-depth understanding of local market conditions
- Develop relationships with local leasing teams
- Provide analytic support for property operations and assist in the annual portfolio budgeting process
- Review monthly budget variance reports
- Review and approve all invoices in Avid Exchange
- Develop and implement capital budgets and oversee construction projects
- Manage roof maintenance program and oversee roof capital projects
- Various special projects as needed
- Bachelor’s degree in related field
- Industrial leasing experience
- Must be able to travel between NYC office quarterly and out of state to visit assets. Overnight travel 10-20% of the time
- Ability to effectively communicate and work with various departments
- Motivated self-starter with strong work either and ability to succeed in a fast-paced and changing environment
