Job Title: Senior Vice President of Leasing
Location: Pacific Retail Capital Partners (PRCP) Corporate Office; Los Angeles, CA
Reporting: Executive team position. Reports directly to COO, with a dotted line to CEO & CFO
PRCP and the SVP Leasing Role:
PRCP is a premier operating/development group of retail-led properties. The geographic footprint is nationwide. PRCP joint ventures as the operating partner with a number of highly recognized national private equity or institutional companies interested in investing in the rapidly changing retail property environment. This platform has led to a number of interesting opportunities for the immediate and mid-term growth of our company.
Since rent incomes lie at the heart of all successful properties the SVP of Leasing holds a critical place in PRCP’s organization. The effective interface of the key functional disciplines; Acquisition, Financial Analysis, Asset and Property Management, Specialty Leasing, Marketing, Development and Business Partnerships are crucial to our operation. As such the SVP of Leasing maintains a pivotal leadership role in the company, guiding the vision for each asset, fostering next-generation relationships and holding his/her team responsible and accountable for delivering business objectives.
The Senior Vice President of Leasing is an executive management role heading the consumer- focused leasing activity for a variety of retail-led property types to include retail, services, entertainment, food and beverage and the incubation of digitally native brands. The SVP of Leasing is responsible for the execution of the national retail shopping product leasing strategy. This role is tasked with building, hiring, effectively managing and overseeing a best-in-class regional brokerage leasing operation within PRCP.
This executive is expected to build and maintain relationships with key clients, tenants, brokerages and the greater real estate community. This individual will have direct oversight and management of the entire leasing process, (including but not limited to) generation of initial prospect interest, tenant qualification, lease negotiation and document execution.
Leasing Program Structure:
Each asset is unique by market and engages with a local/regional leasing team assigned to the project to execute the vision and strategic plan. The program is led by PRCP through the leasing business plan adopted by the JV ownership groups and in sync with the investment thesis and/or the realities of the business including changing market conditions. The actual leasing is done through the brokerage community with bespoke leasing teams assigned to each property.
Primary Responsibilities and Essential Functions
• The SVP of Leasing is responsible to provide full scope leadership, supervision, and implementation of a results driven, thoughtful and impactful leasing program.
• Actively participate on PRCP’s leadership team as a voice to assist in the company’s operating success, it’s growth, direction, and profitability.
• Maintain a professional dialogue with the investment partners as it pertains to the leasing program as a representative of PRCP.
• Lead and administer the organization and operation of the PRCP leasing program throughout; and infuse organizational tools and experience to bring change within the existing structure to maximize accountabilities and effectively manage.
• Take an active role in operating property business plans, development feasibilities, innovation, acquisition underwriting or any new business ventures.
• It is anticipated that the SVP of Leasing will maintain a high level of knowledge about retailers, rent trends/measurements, fashion trends, new and emerging brands, experienced tenant opportunities, digitally native brands, and the rapidly changing landscape of retail property development.
• Establish and maintain strong knowledge, awareness and understanding of the market’s dynamics; to include demographics/psychographics, market conditions, competitive activities, general economic conditions and related matters.
• Maintain visibility in the industry through professional organizations and accepting panel invitations. Seek exposure through thought leadership for PRCP and its place in the industry.
• The SVP of Leasing should have a solid understanding of social media and be actively engaged on a variety of platforms to source leads, discover trends and brands and see emerging opportunities.
• Communicates with and reports to partners, lenders, and others as applicable, the status of leasing activity, as needed.
• Assists in preparing property strategy sessions and annual leasing budgets for properties to submit for review and approval by senior management and partners.
• Maintains high level of interaction and communication with department head counterparts to help leverage relationships and economy of scale opportunities.
• This full-time position is based in the El Segundo office and requires routine national travel (often to the east coast). SVP of Leasing is expected to develop a personal balance of office time and travel. PRCP personnel do not typically travel on weekends, although some weekend travel may be necessary for certain events or meetings.
Supervision of Leasing Agents:
SVP Leasing is responsible for sourcing, managing and supervising various brokerage groups through-out the US.
• Assists, directs, guides and works with agents on deal points and decision making as needed.
• Reviews and approves agents’ deals.
• Directs and assists agents in developing property leasing strategy to balance EBITDA growth with vision/merchandising.
• Handles renewal transactions as needed.
• Constantly interfacing with legal, tenant coordination, development, marketing, and specialty leasing.
• Participates in periodic portfolio reviews.
• Works with agents to fully understand competitive landscape and impact.
• Cultivates new and maintains existing relationships with desirable prospective tenants; sells them on the advantages of being located in a PRCP center; responds to inquiries from interested retailers; actively seeks out new direct to consumer digitally native brands.
• Canvasses the market to identify potential tenants; visits existing retailers and prospective tenants community and neighboring communities at local shopping centers, central business districts and suburban retail areas; contacts retailers via email, phone, social media or in person to obtain additional information and assess/confirm the level of interest on the part of the retailer.
• Reviews industry publications to identify potential national and regional tenants, opportunities and industry trends.
• Bachelor’s Degree in Business Management, Real Estate, Communications or related field. An MBA or other advanced degree with real estate or operations concentration is highly desirable.
• Minimum of 10+ years of leasing; real estate or transactional sales experience.
• 3+ years of experience managing and building a team.
• Strong relationships with national retail tenants and brokerage firms.
• Experience working with institutional clients with a knowledge of development, property management, asset sales, contract negotiations, and social media.
• In-depth knowledge of merchandising with the proven ability to foster creativity.
• In-depth knowledge of deal structures and lease terminology.
• Strong leadership and management skills with the ability to communicate efficiently and effectively across multiple levels and channels.
Please submit your resumes to HR@pacificretail.com