Associate Manager, Asset Management
Darden, Orlando, FL, United States
Job Overview
The Associate Manager, Asset Management plays a key role in optimizing the value of the existing restaurant real estate portfolio by managing and executing the lease renewal and extension program. In addition, the role involves other asset management functions, including lease terminations and asset dispositions, and the resolution of property and facility issues. The Associate Manager, Asset Management interacts regularly with landlords and developers, real estate brokers, neighboring property owners and municipalities as well as Operations Leaders and across RSC functional teams.
Roles & Responsibilities
Identify lease renewals and extensions each fiscal year; present fiscal lease option and renewal plans to Operations Leaders, Development and Finance Leaders for approval
Maintain tracking system for all lease renewal/extension deadlines
Participate in the annual Development Team portfolio market review to assist in establishing lease renewal/extension strategy
Establish and implement plans to reduce occupancy costs by negotiating rent reductions and other concessions, and restricting leases after reviewing existing lease terms, market conditions and other factors for each location
Negotiate lease renewals and extensions in advance of option exercise and lease termination deadline
Negotiate new restaurant leases for rebuilds and relocations in case of fire or casualty, as needed
Negotiate new leases or lease modifications for expanding or contracting office and warehouse space, as needed
Address property and facility issues, common area and visibility issues, signage requests and parking concerns with landlords, developers, neighboring properties and municipalities; partner with Facilities Team and Operations to resolve issues as needed
Negotiate lease terminations for closed or relocated restaurants and office/warehouse space; partner with Facilities Team to ensure compliance and proper turnover to landlord
Ensure security, utilities and maintenance/repair of closed restaurant properties and office/warehouse space is addressed
Work with broker network to sell or sublease closed restaurant properties, surplus properties and office space
Negotiate letters of intent, contracts and leases for the sale or sublease of closed restaurant properties, surplus properties, office/warehouse space and liquor licenses
Partner with Law Team to evaluate condemnation offers to ensure appropriate/fair resolution and minimal impact to restaurants
Review CAM, property tax and percentage rent audits as necessary; assist Accounting and Tax Departments with issue resolution
Required Technical Skills
Minimum 8 years of real estate development or legal experience
Experience negotiating real estate business deals
Required Education
Bachelor's degree in real estate, legal studies, business, finance or related field, or equivalent experience
Other Key Qualifications
Outstanding communication and negotiation skills; ability to influence others and build strong relationships at all levels
Excellent organizational and prioritization skills; ability to multi-task and work in a fast-paced environment
Ability to identify issues, problem solve and act decisively to resolve issues
Ability to exercise sound business judgment
Self-motivated and independent
Flexible; ability to adapt to changing business environments
Preferred Skills and Experience
Experience in the restaurant, retail or multi-unit real estate environment preferred
Proficient in Tango Lease Administration Database or other similar database
Proficient in Microsoft Office Products (e.g., Power Point, Excel, Word, etc.)
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Roles & Responsibilities
Identify lease renewals and extensions each fiscal year; present fiscal lease option and renewal plans to Operations Leaders, Development and Finance Leaders for approval
Maintain tracking system for all lease renewal/extension deadlines
Participate in the annual Development Team portfolio market review to assist in establishing lease renewal/extension strategy
Establish and implement plans to reduce occupancy costs by negotiating rent reductions and other concessions, and restricting leases after reviewing existing lease terms, market conditions and other factors for each location
Negotiate lease renewals and extensions in advance of option exercise and lease termination deadline
Negotiate new restaurant leases for rebuilds and relocations in case of fire or casualty, as needed
Negotiate new leases or lease modifications for expanding or contracting office and warehouse space, as needed
Address property and facility issues, common area and visibility issues, signage requests and parking concerns with landlords, developers, neighboring properties and municipalities; partner with Facilities Team and Operations to resolve issues as needed
Negotiate lease terminations for closed or relocated restaurants and office/warehouse space; partner with Facilities Team to ensure compliance and proper turnover to landlord
Ensure security, utilities and maintenance/repair of closed restaurant properties and office/warehouse space is addressed
Work with broker network to sell or sublease closed restaurant properties, surplus properties and office space
Negotiate letters of intent, contracts and leases for the sale or sublease of closed restaurant properties, surplus properties, office/warehouse space and liquor licenses
Partner with Law Team to evaluate condemnation offers to ensure appropriate/fair resolution and minimal impact to restaurants
Review CAM, property tax and percentage rent audits as necessary; assist Accounting and Tax Departments with issue resolution
Required Technical Skills
Minimum 8 years of real estate development or legal experience
Experience negotiating real estate business deals
Required Education
Bachelor's degree in real estate, legal studies, business, finance or related field, or equivalent experience
Other Key Qualifications
Outstanding communication and negotiation skills; ability to influence others and build strong relationships at all levels
Excellent organizational and prioritization skills; ability to multi-task and work in a fast-paced environment
Ability to identify issues, problem solve and act decisively to resolve issues
Ability to exercise sound business judgment
Self-motivated and independent
Flexible; ability to adapt to changing business environments
Preferred Skills and Experience
Experience in the restaurant, retail or multi-unit real estate environment preferred
Proficient in Tango Lease Administration Database or other similar database
Proficient in Microsoft Office Products (e.g., Power Point, Excel, Word, etc.)
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