Associate Director, Development Leasing
Reporting to the SVP, Leasing, the Associate Director, Development Leasing will be responsible for driving leasing activity for the retail component of our mixed use redevelopment projects portfolio wide. The successful candidate will be a highly strategic professional with leasing experience within retail assets in urban trade areas. He/she will be responsible for helping to lead and facilitate the retail leasing process as well as participating in the evaluation, underwriting, and budgeting of the company’s development projects.
Specific responsibilities include:
- Support the Vice President of Development Leasing with executing Cedar’s leasing strategy for the development project pipeline from inception to completion
- Assist in generating innovative retail alternatives from a design perspective for both ground-up and redevelopment projects to maximize the firm’s value creation/enhancement
- Have and develop a thorough understanding of the markets where we do business, particularly Philadelphia and Washington, DC
- Assist in the acquisition due diligence process, tenants lease review, analysis of market and competitive position, etc.
- Identify and source, via prospecting, new tenants that will be most beneficial to the merchandising and value creation of the center while enhancing overall tenant quality
- Assist in communicating and negotiating with both tenants and third-party retail brokers
- Assist in the negotiation of new and renewal lease deals to drive income and create long term value creation opportunities
- Manage the production of agreements and documents in connection with retail leasing, including: letters of intent, leases, settlement agreements, lease guarantees, lease commencement agreements, etc.
- Bachelor’s degree from a four-year college or university required
- 2+ years of progressive leasing experience within a respected real estate platform (owner, developer, operator or brokerage firm) with an emphasis on retail leasing
- Must be a self-starter, highly motivated, goal-oriented with willingness to learn
- Demonstrated skill in prospecting and negotiation of commercial retail lease transactions
- Broad existing relationships with the community of retail tenants and brokers
- Exceptional communication skills – both verbal and written
- Desire and ability to thrive in a fast paced, entrepreneurial environment
- Active member of ICSC, and other relevant industry associations
Cedar is seeking a Development Associate who will report directly to Senior Vice President, Development and Construction and Vice President of Development. The Development Associate will be responsible for supporting the execution of key facets of the real estate development projects, including but not limited to planning, budgeting, pre-construction due diligence related to site acquisition, design, deal structuring in conjunction with Leasing, entitlements and subsidies when applicable, and related tasks for retail and mixed-use developments.
- Support the Vice President of Development with executing Cedar’s development project pipeline from inception to completion.
- Coordinate consultants and internal team members to develop and collect applicable documents in conjunction with obtaining entitlements and required building permits.
- Assist in collecting and assembling information required for underwriting proposed deals involving existing assets and potential acquisitions. Work with Asset Management team to create financial models to underwrite project costs, revenues, and returns.
- Interface with internal stakeholders to define project requirements and constraints and obtain input on design and budgets.
- Assist in the preparation of budgets, schedules, and execution strategy for projects including entitlements, design development, and building permit approvals.
- Identify project risks, develop risk mitigation and contingency plans, and implement action plans to reduce or eliminate project risks.
- Assist in the selection and management of the design team and preparation of drawings for initial budgeting and scope definition, development of site and building design detailed drawings, etc.
- Track progress of each project against goals, objectives, approved budgets, approved timelines. Report status and variances in coordination with Development Accounting. Create action plans and adjust as required to meet objectives, budget and schedule.
- Assist the Development Team with sourcing and advancing incentives such as Tax Increment Financing, capital grants, and alternative project subsidy sources.
- Assist in preparing and presenting the development projects and related acquisitions to Senior Management and Board presentations.
- Bachelor’s Degree required
- A minimum of 1-2 years’ relevant or transferable experience
- Must be a self-starter, highly motivated, and goal-oriented
- Must be well-organized, detail oriented and possess excellent interpersonal, written, and verbal communication skills and be able to work in a team environment
- Must have strong analytical and problem-solving skills, be flexible and able to handle multiple projects and tasks simultaneously
- Demonstrated strong computer and Internet skills, especially advanced MS Office Suite
Senior Director, Development
|Sewell or Port Washington
||NJ or NY
Summary: Cedar Realty Trust, a publicly traded REIT that owns, develops and operates retail shopping centers, is seeking a Senior Director, Development to lead its development/redevelopment projects throughout its portfolio. The successful candidate will rely on extensive experience, creativity, intuition, work ethic and exhibit judgment to plan and accomplish an array of goals to take the projects from conception to stabilization. This position will directly manage the Project Consultant team to craft the vision and strategy for the project, and will work collaboratively with internal departments (Leasing, Construction, Asset Management, Property Management, Legal, & Accounting). This position will report to the VP, Development and will be based in Cedar’s Port Washington, NY or Philadelphia, PA Office, however travel may be required.
- This position will be directly responsible for running one or more of Cedar’s mixed use development projects
- Analyze valuation models and development scenarios for new and existing assets in conjunction with preparation of the strategic plan for individual assets
- Ensure departmental and corporate guidelines are followed
- Accountable for strict adherence to project budget, schedule and quality
- Oversee municipal approval of specific projects
- Research municipal requirement (i.e. zoning, land use etc.) and timing for new development/redevelopment opportunities
- Develop network of contacts for local jurisdiction where Cedar has development assets
- Prepare permit/submittal applications with required documentation for site/civil/building permits and process through receipt of permits
- Attend community/township meetings to present the project’s program and represent the company’s interests
- Oversee and coordinate the Design / Consultant team for development projects
- Review Construction documentation, bid documents, project specifications to fully understand the project scope of work
- Review General Contractor bid submittals with Construction Team
- Work closely with Construction director on value engineering opportunities
- Nurture new and existing retailers through the project
- Work with leasing team to develop merchandising strategy and plan
- Review change requests in project scope and make recommendation to management
- Bachelor’s Degree in Architecture, Engineering, Real Estate or Business Related Field preferred
- A Minimum of 7-10 years relevant working experience
Required Knowledge & Skills:
- Must take initiative and have a commitment to push for results in a fast paced environment with direct accountability for budget, schedule and quality
- Must possess a strong professional work ethic with excellent quantitative and analytical skills
- Must have experience with zoning, entitlements and land use issues
- Ability to manage and evaluate multiple project simultaneously
- Strong leadership skills demonstrated in the ability to lead a group of people toward a common goal
- Must possess strong interpersonal skills
- A history of working effectively with contractors and sub-contractors responsible for completing various phases of development projects
- Must accept responsibilities and be held accountable for deliverables
- Strong background in cost estimating
- Team player with strong interpersonal skills
- Strong written and verbal communication skills
- Proficient in all Microsoft Office programs; Word, Excel and Project
- The ability to travel is required