What are the responsibilities and job description for the Director of Leasing position at Waterstone Properties Group?
Waterstone Properties Group, Inc. is a privately owned real estate development company founded in 2005 with a diverse portfolio of properties in the United States totaling over 7 million square feet of space among more than 50 properties. We specialize in the creation of retail shopping centers, mixed-use properties, corporate headquarters, and campuses, in addition to specialized medical facilities.
Waterstone, headquartered in Needham, Massachusetts, specializes in all facets of the business including development, acquisitions, leasing, tenant coordination, property management, marketing, treasury, and finance.
Waterstone is an Equal Opportunity Employer. More information about Waterstone Properties Group is available at www. Waterstonepg.com.
Director of Leasing, Needham, MA
Role:
• Leases new space; develops and executes creative and aggressive leasing strategies which may include re-tenanting, renewals, early renewals, buy-outs, re-locations, and new tenants.
• Identify, qualify, originate, and negotiate terms and conditions of new and renewal retail lease transactions, for in-line and freestanding units within the Company's shopping center portfolio. Work closely with tenant representatives, attorneys, and brokers, following through to completion of the final lease document.
• Qualifies potential tenants by reviewing their financial statements and checking references; negotiates terms of lease; including such items as space, basic and percentage rent, term of lease, extra charges, construction allowances, etc
• Fully document the nuances of each prospective deal. Regularly communicate across the organization to ensure accurate understanding of leasing status and opportunities.
• Communicates and coordinates with Legal to have documentations prepared incorporating the terms agreed upon and appropriate to the specific property; initiates preparation of tenant space; notifies construction department to send shell drawings and Construction guidelines to tenant.
• Communicates and coordinates with Tenant Improvement and Development groups ensuring that the brands open to the agreed upon timeline.
• Facilitate the coordination and negotiation of initial tenant and landlord construction requirements with tenants and the Company tenant construction team
* Ensure all leases are structured to meet financial and operational objectives, considering rent structures, terms, and tenant improvement allowances.
• Oversee leasing budgets, including setting rental rates, managing lease incentives, and forecasting revenue impacts.
• Conduct financial analysis and modeling for prospective leases to assess their long-term impact on property value and revenue.
Requirements:
• Bachelor’s degree required with 7-10 years
• Must have proven ability and experience in deal documentation: structure terms and speed of execution. Understanding of the lease document and expertise in originating, negotiating, and completing new and renewal leases for in-line and freestanding locations within existing open-air centers and new developments.
• Collaborates with team to drive deals and handles all reporting, management expirations, options, kickouts, etc.
• Ability to prepare market analysis, define market rental rates, and determine ideal tenant mix.
• Proven track record of driving revenue growth, tenant acquisition, and portfolio performance.
• Proven ability to canvass, cold call and qualify prospective regional and local area tenants.
• Efficient organizational and time management skills are required and the ability to juggle multiple priorities simultaneously.
• In-depth knowledge of deal structures and lease terminology
• Excellent negotiation and closing skills
• Experience with real estate technology software – VTS and Yardi.
• Ability to travel to meet brokers, clients and tour sites.