Senior Real Estate Asset Manager - DE, MD, VA
The Wills Group, 102 Centennial St, La Plata, Maryland, United States of AmericaReq #305
Thursday, September 1, 2022
Have you heard The Wills Group is Great Place to Work Certified! We’re proud of this achievement and our people who make greatness happen. Want to join a company that puts its people first
Job Purpose and Function
The duty of the Sr. Real Estate Asset Manager position is management of the company’s existing real estate portfolio and management of the Major Project due diligence and entitlement process. These activities include management of the leased property portfolio and non-petroleum lease portfolio.)
How You’ll Make an Impact (Key Accountabilities)
Management of all aspects of the Leased Property portfolio including: maintaining current leased property database, manage third party property administration contract(s), recommend renewal of strategic leasehold sites and negotiation with landlords based on financial (EVA) model viability, coordinate rent increases with Accounting, clarify lease rents requiring CPI adjustments or appraisal formula with landlords, coordinate lease termination activity and related issues, negotiate new leases both as landlord and tenant, analyze and exercise purchase options and Rights of First Refusal (ROFR), development of documents including Tenant Estoppel, SNDA, etc. Work collaboratively with Regional Real Estate Managers and legal counsel to ensure strategies are aligned and Company interests are protected.
Harvest Program (sale or lease of surplus properties). Facilitate, create, and implement harvest strategies including network planning and preparation of Investment Committee (IC) proposals, Marketing of properties, solicitation and analysis of offers, contract development and negotiation, assisting in financial model analysis, Closing on sales, Contract retention and management. Work collaboratively with Regional Real Estate Managers to ensure strategies are aligned.
Management of Land Issues: Assume lead responsibility to manage and coordinate access, easement, and right of way takings (Eminent Domain) with regulatory bodies, attend hearings, assist in the activities for development of properties with outside consultants and internal stakeholders. Proactively report impacts to management and Operations. Work collaboratively with Regional Real Estate Managers to ensure strategies are aligned. Proactively recommend alternative real estate processes and strategies to improve and build efficiencies.
Zoning/Development Items: Manage & help Real Estate Managers facilitate the due diligence and entitlement activities for all major capital projects (NTIs, D&Rs, Add Lands) that are Investment Committee approved (in inventory). This includes organizing appropriate meetings with outside consultants and internal stakeholders, performing due diligence activities within provided guidelines using appropriate tools and software, actively participate in strategic meetings, attend hearings and review board meetings. Monitor zoning issues and regional comprehensive planning associated with existing properties that may impact future development activities.
Lease Administration: Coordinating/updating/maintaining lease files, coordinating with respective internal departments and outside consultants on insurance requirements/certifications, tax payments, 1099s, landlord changes (entities, addresses, bank accounts, rent adjustments). Ensure real estate databases are updated and accurate.
What We’re Looking For (Qualifications and Experience)
Seasoned retail Real Estate and Development experience
Strong understanding of Development Entitlements process
Strong property administration background and expertise. Property Administration accreditation preferred.
Experience with Real Estate Valuation and market trends
Experience in finance modelling and investment returns
Demonstrated knowledge of demographic modelling tools
Bachelor’s Degree in real estate, business, finance, economics or related field of experience
Comprehensive experience in real estate acquisition
Experience and understanding of zoning and permitting processes
The ability to analyse and understand various types of appraisals and the appraisal process
Experience in development and negotiation of real estate contracts and transactions
An ideal candidate will also have:
Polished communications skills; both oral and written
Developed organizational and facilitation skills
A strong understanding of real estate contracts with specialized knowledge of petroleum use
The ability to develop and implement overall market plans
Excellent negotiation skills
An understanding of title, survey, and jurisdictional approval process would be ideal.
Extensive knowledge of market conditions including competitive shifts, future transportation changes, and economic development
A thorough understanding of the Wills Group financial (EVA) model and the ability to coordinate with other departments within the organization
Weekend or evening work may be required depending on zoning, regulatory, or time-sensitive internal issues. Overnight travel is occasionally required.
Key CompetenciesDelivering results and meeting customer expectations
Adapting and responding to change
Working with people
Persuading and influencing
Why You Should Join Wills Group
We are a $1.5 billion company headquartered in La Plata, Maryland (an easy 45-minute reverse commute from DC) with nearly 300 retail locations across the Mid-Atlantic region, including Dash In, Splash In ECO Car Wash, and SMO Motor Fuels. A family-owned company since 1926, our passion areas are in convenience retailing, fuels marketing, and commercial real estate and we pride ourselves on keeping our customers', employees' and communities’ Lives in Motion.
Our Wills Group employees come to work for more than just a paycheck, but rather they come to learn, make contributions, make an impact, and feel valued as a part of our family-friendly culture. We have a work-hard, play-hard mentality that makes us a progressive company and we thrive on giving back to our community. That is what is core to our DNA.
Benefits and Perks
Are you interested in joining a certified Great Place to Work that invests in your development, future, and well-being Are you looking for more than the "daily grind" where your day-to-day work makes an impact not only for the organization but for your community and your future Then The Wills Group is the right fit for you.
We take pride in investing in our people’s well-being, that’s why we back our words with competitive total rewards packages.
Financial Wellbeing –Employer 401 (k) match (currently at 7%), health savings plan, and financial planning
Physical Wellbeing – comprehensive health, vision, and dental plans that meet the needs of our people
Paid Time Off – Vacation, Sick, Personal, and Community Engagement, Parental Leave for new Moms and Dads
Work/Life Balance – Hybrid and Flexible work environment, Employee Assistance Program, Travel Assistance, Family Life Planning
Education and Development Opportunities – 100% Tuition reimbursement to support our people’s education goals, robust development programs, and certificate program assistance (up to 100% employer-paid)
Competitive Salary - competitive pay matched to DC Metro area
Bonus Opportunity - 15% annually#HP123
Wills Group is an equal opportunity at will employer and does not discriminate against any employee or applicant for employment because of age, race, religion, color, disability, sex, sexual orientation or national origin.Wills Group strives to maintain a COVID-free workplace. While being vaccinated is not a requirement, we offer a $150 COVID vaccination incentive payout in the paycheck following submission of proof of vaccination. Further details and instructions will be provided during onboarding.
Job FamilyReal Estate & DevelopmentPay TypeSalaryMin Hiring Rate$118,300.00Max Hiring Rate$147,900.00Travel RequiredYesRequired EducationBachelor’s Degree