Retail Director-East Coast Region
Equity Residential, New York, NY, United States
The Retail Portfolio Director is responsible for overseeing leasing activity in the East Coast region as well as working closely with the local Investment Officer and the Property Management team regarding asset management, construction, and operational issues associated with the assigned retail portfolio and associated parking garages. This position will also work closely with the Capital team regarding the buildout of select retail spaces. This role will be responsible for managing activities associated with retail leasing including brokerage relationships, the strategic selection of tenants appropriate for the building and neighborhood, working with the Capital team regarding the build out of the space, and acting in an ownership capacity.
WHAT YOU’LL DO: This position negotiates new retail/parking/office space lease terms for both new leases and renewals including rental rate, concessions, security positions and tenant improvement allowances. In addition, negotiates proper lease language as appropriate for retail, parking garages and office spaces in the East Coast region.
Chooses the right brokerage partnerships and manages these key relationships.
Reviews marketing strategies presented by the brokerage teams.
Establishes, reviews and presents annual rental goals, operating expenses and tenant improvement amounts.
Works closely with the Capital Projects and the Investment Officer regarding the buildout of select retail spaces including floor plan design for a particular use, review the proposed signage and will likely be involved in discussions about material change orders.
Works with the Retail Analyst to prepare and review annual operating budgets including understanding the required capital spend for TI Allowances as well as the capital necessary to improve or preserve the retail spaces.
Assists in underwriting of acquisitions, due diligence and set up of new acquisitions.
For new developments, assists in the design of retail spaces within these new EQR developments including making sure the space has adequate power, access to a back of house, and the inclusion of vent stacks if a space is programmed for food use. A critical task is understanding the surrounding retail neighborhood, the market rent and valuation of each retail space based on its location.
Assists the Property Management Team regarding the resolution of regular operating issues when necessary.
Participates, as necessary, in the development and oversight of a property business plan for each asset.
Works with the Retail Analyst and Retail Lease Administrator to assist in the calculation and billing of the annual CAM and RET expense reconciliations.
Represents the Company in a professional manner at all times. Consistently maintains a professional courteous attitude when dealing with residents, coworkers, and the general public.
Performs other duties as necessary.
REQUIREMENTS:
Minimum 7+ years of retail leasing required.
3+ years prior experience leading others/managing small teams.
Must have superior communication skills (written and oral) and be able to manage a large, dynamic East Coast retail portfolio.
Must have excellent analytical skills, be detail-oriented, have good business sense, and be able to work on numerous projects concurrently with the ability to constantly prioritize workload.
A working knowledge of Excel is required; familiarity with Google platform is a plus.
Machines, Tools and Equipment, Software:
Computer w/Internet and work within a Google platform.
Licenses/Certification:
Valid driver’s license and auto insurance required.
Other Requirements:
Must be available for regular local and overnight travel (approximately up to 25% annually) in EQR market(s) that make up the East Coast region.
Hybrid working environment: office, remote, and onsite at properties within assigned market(s).
SALARY:
$122,162 to 167,972 per year; in addition to base salary, a discretionary annual 16 % bonus is provided.
The successful candidate's starting pay will be determined based on job-related skills, experience, and qualifications.
We Care About Your Total Wellbeing:
Physical Wellbeing: Medical, dental, and vision care
Social Wellbeing: 9 paid holidays, annual vacation time, paid sick leave, new parent benefits
Financial Wellbeing: 401(k) Retirement Savings Plan, Rent Discounts, Competitive Compensation
Community Wellbeing: Paid Community Service Hours
Learn more about our Total Wellbeing program here
PHYSICAL AND VISUAL ACTIVITIES: Ability to effectively hear, speak, and communicate in person and over the phone, including the clear exchange of information through spoken and written communication. Ability to interpret, evaluate, and accurately convey detailed verbal and written instructions. Visual acuity sufficient to use a computer effectively and read written materials. Ability to lift, push, pull, or carry up to 15 pounds to distribute documents, supplies, and materials throughout the office or facility. May be required to climb stairs depending on property layout. Extensive travel required.
The above describes the physical and visual activities that are commonly associated with the performance of the essential functions of this job. “Commonly associated” is not intended to mean always or only. Reasonable accommodation will be provided as required by law to enable otherwise qualified employees with a known disability to perform the essential functions of the job.
WORKING ENVIRONMENT: Our work environment is casual, collaborative, and people-first. Team members are encouraged to bring their authentic selves to work, share ideas openly, and communicate comfortably across all levels of the organization. While we value professionalism and accountability, we also believe a relaxed atmosphere fosters creativity, productivity, and strong working relationships. Employees enjoy a flexible, supportive culture where teamwork, mutual respect, and a sense of balance are priorities.
Equity Residential is an Equal Opportunity Employer. We are committed to equal employment opportunities for all job applicants and employees. No job applicant or employee will be discriminated against because of race, religion, color, sex, sexual orientation, gender, sexual/gender identity, age, disability, pregnancy, national origin, military or veteran status, or any other characteristic protected by applicable law. Equity Residential is committed to hiring a diverse workforce. Equity Residential has a smoke-free workplace environment.
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WHAT YOU’LL DO: This position negotiates new retail/parking/office space lease terms for both new leases and renewals including rental rate, concessions, security positions and tenant improvement allowances. In addition, negotiates proper lease language as appropriate for retail, parking garages and office spaces in the East Coast region.
Chooses the right brokerage partnerships and manages these key relationships.
Reviews marketing strategies presented by the brokerage teams.
Establishes, reviews and presents annual rental goals, operating expenses and tenant improvement amounts.
Works closely with the Capital Projects and the Investment Officer regarding the buildout of select retail spaces including floor plan design for a particular use, review the proposed signage and will likely be involved in discussions about material change orders.
Works with the Retail Analyst to prepare and review annual operating budgets including understanding the required capital spend for TI Allowances as well as the capital necessary to improve or preserve the retail spaces.
Assists in underwriting of acquisitions, due diligence and set up of new acquisitions.
For new developments, assists in the design of retail spaces within these new EQR developments including making sure the space has adequate power, access to a back of house, and the inclusion of vent stacks if a space is programmed for food use. A critical task is understanding the surrounding retail neighborhood, the market rent and valuation of each retail space based on its location.
Assists the Property Management Team regarding the resolution of regular operating issues when necessary.
Participates, as necessary, in the development and oversight of a property business plan for each asset.
Works with the Retail Analyst and Retail Lease Administrator to assist in the calculation and billing of the annual CAM and RET expense reconciliations.
Represents the Company in a professional manner at all times. Consistently maintains a professional courteous attitude when dealing with residents, coworkers, and the general public.
Performs other duties as necessary.
REQUIREMENTS:
Minimum 7+ years of retail leasing required.
3+ years prior experience leading others/managing small teams.
Must have superior communication skills (written and oral) and be able to manage a large, dynamic East Coast retail portfolio.
Must have excellent analytical skills, be detail-oriented, have good business sense, and be able to work on numerous projects concurrently with the ability to constantly prioritize workload.
A working knowledge of Excel is required; familiarity with Google platform is a plus.
Machines, Tools and Equipment, Software:
Computer w/Internet and work within a Google platform.
Licenses/Certification:
Valid driver’s license and auto insurance required.
Other Requirements:
Must be available for regular local and overnight travel (approximately up to 25% annually) in EQR market(s) that make up the East Coast region.
Hybrid working environment: office, remote, and onsite at properties within assigned market(s).
SALARY:
$122,162 to 167,972 per year; in addition to base salary, a discretionary annual 16 % bonus is provided.
The successful candidate's starting pay will be determined based on job-related skills, experience, and qualifications.
We Care About Your Total Wellbeing:
Physical Wellbeing: Medical, dental, and vision care
Social Wellbeing: 9 paid holidays, annual vacation time, paid sick leave, new parent benefits
Financial Wellbeing: 401(k) Retirement Savings Plan, Rent Discounts, Competitive Compensation
Community Wellbeing: Paid Community Service Hours
Learn more about our Total Wellbeing program here
PHYSICAL AND VISUAL ACTIVITIES: Ability to effectively hear, speak, and communicate in person and over the phone, including the clear exchange of information through spoken and written communication. Ability to interpret, evaluate, and accurately convey detailed verbal and written instructions. Visual acuity sufficient to use a computer effectively and read written materials. Ability to lift, push, pull, or carry up to 15 pounds to distribute documents, supplies, and materials throughout the office or facility. May be required to climb stairs depending on property layout. Extensive travel required.
The above describes the physical and visual activities that are commonly associated with the performance of the essential functions of this job. “Commonly associated” is not intended to mean always or only. Reasonable accommodation will be provided as required by law to enable otherwise qualified employees with a known disability to perform the essential functions of the job.
WORKING ENVIRONMENT: Our work environment is casual, collaborative, and people-first. Team members are encouraged to bring their authentic selves to work, share ideas openly, and communicate comfortably across all levels of the organization. While we value professionalism and accountability, we also believe a relaxed atmosphere fosters creativity, productivity, and strong working relationships. Employees enjoy a flexible, supportive culture where teamwork, mutual respect, and a sense of balance are priorities.
Equity Residential is an Equal Opportunity Employer. We are committed to equal employment opportunities for all job applicants and employees. No job applicant or employee will be discriminated against because of race, religion, color, sex, sexual orientation, gender, sexual/gender identity, age, disability, pregnancy, national origin, military or veteran status, or any other characteristic protected by applicable law. Equity Residential is committed to hiring a diverse workforce. Equity Residential has a smoke-free workplace environment.
#J-18808-Ljbffr