Job Openings >> Senior Associate, Commercial Development
Senior Associate, Commercial Development
Summary
Title:Senior Associate, Commercial Development
ID:COMMSDA021820
Department:Development
Location:Cary, NC
Description

Job Description

 

 

TITLE:                                   Senior Associate, Commercial Development (Chapel Hill)

CLASSIFICATION:             Full Time

DEPARTMENT:                  Commercial Development

REPORTS TO:                    Vice President, Commercial Development

 

 

Position Summary:

 

Coordinates/supports all aspects of design, financing and development of assigned Grubb Properties commercial development projects, with specific focus on Glen Lennox/Chapel Hill.

 

Responsible for managing/supporting the redevelopment of Glen Lennox through industry research, market research, meetings, and efforts related to commercial, retail, and multi-family development.

 

 

Essential Duties and Responsibilities:

 

May be responsible for one or more of the following:

  • Acts as a liaison between Glen Lennox residents, surrounding neighbors, and Grubb Properties. Attend appropriate local forums, meetings, and community events.
  • Develop successful long-term business relationships; enhance Grubb Properties’ reputation in the community as it relates to governmental agencies, community leaders, team members, and others affected by company actions.
  • Coordinates/supports long-term marketing plans for the overall Glen Lennox property.
  • Understands competitors’ strengths and weaknesses and displays the ability to effectively articulate Grubb’s competitive advantage.
  • Assisting in the selection/evaluation of sites for commercial development to include market analysis and test fits. 
  • Managing the design process from inception through construction development taking into consideration use/mixed-use, total rentable square footage, core factor, amenity space, and exterior building materials.
  • Oversees/supports the preparation of pro forma financial models and analysis in Excel and/or Technosun software for real estate development opportunities.
  • Gathering and analyzing market information including sales and rent comparables, replacement costs, supply/demand fundamentals, capitalization rates, and other underwriting assumptions.
  • Assisting in the preparation of real estate transaction presentations, packages, and analyses for the transaction team, the internal investment committee, investors, partners and lenders.
  • Management/support evaluating all aspects of due diligence for new development opportunities, including obtaining third-party reports, performing rent and expense analyses and market comparable studies, and reviewing any due diligence materials received from the seller.
  • Coordinating entitlement processes; including meetings with municipality officials and conducting community outreach.
  • Supporting the Investment and Finance Division in the placement of debt financing for new development opportunities.
  • Supporting the Commercial Division with respect to commercial leasing, including lease underwriting analysis, management of third-party brokers, and evaluation/negotiation of commercial leases.
  • Coordinating the services of project management, property management, leasing, and accounting to successfully integrate the assets with the existing portfolio, including providing those teams with appropriate information and documentation and preparing asset business plans and strategies.
  • Supporting transaction closings, including coordinating legal document preparation and execution, reviewing closing statements, and coordinating closing funds.
  • Remaining up-to-date with current market data, trends, and industry news.
  • Remaining involved with the new development projects from inception through the completion of the after action review.

 

Knowledge/Critical Skills:

 

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.  The requirements listed below are representative of the knowledge, skill, and/or ability required.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • Bachelor’s degree required
  • 2-4 years of experience with complex financial modeling or MBA preferred.
  • Strong skills in Excel and financial modeling.
  • Exceptional quantitative and analytical skills with an ability to understand how the parts fit into the larger picture.
  • Exceptional oral and written communications and interpersonal skills.
  • Detail-orientation, excellent organizational skills and a strong sense of urgency.
  • Positive attitude, integrity and reliability.
  • Proactive, solution-oriented mindset with a focus on task management and completion.
  • Ability to work in a fast-paced environment, handle multiple concurrent large-scale projects with moderate supervision, and work both independently and collaboratively.

 

Physical Demands/Environmental Factors:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • Works in office setting, travels to off-site meetings, and/or development/acquisition sites.
  • Works under moderate supervision.
  • Needs own transportation to meetings; valid driver’s license.
  • Requires work in evenings and on weekends.

Critical features of this job are described under the previous headings. They may be subject to change at any time due to reasonable accommodation or other reasons.  This job description does not list all the duties of the job. You may be asked by supervisors to perform other non-essential assignments and duties. You will be evaluated in part based upon your performance of the tasks listed in this job description.

MANAGEMENT HAS THE RIGHT TO REVISE THIS JOB DESCRIPTION AT ANY TIME.  THE JOB DESCRIPTION IS NOT A CONTRACT FOR EMPLOYMENT, AND EITHER YOU OR THE EMPLOYER MAY TERMINATE EMPLOYMENT AT ANY TIME, FOR ANY REASON, WITH OR WITHOUT NOTICE.

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