Commercial Real Estate Asset Manager

2 months ago

Bethesda, United States Kenwood Management Company, LLC Full time

COMMERCIAL REAL ESTATE ASSET MANAGER

COMPANY DESCRIPTION

Kenwood Management Company, founded in 1997, is a local owner/operator of a 1.4 million square foot warehouse, flex, medical and office portfolio in the Washington DC and Baltimore markets. We are headquartered in Bethesda, MD.

 

OVERALL RESPONSIBILITIES

We are seeking a “Can-Do” Commercial Real Estate Asset Manager with 8+ years commercial real estate experience. The position would be responsible for:

1.     Asset Management related to Kenwood’s entire portfolio

2.     Assist partners with Acquisition of new properties

3.     Perform all Property Management responsibilities for a 300,000 sf portfolio located in Baltimore County (White Marsh area), Baltimore City and Howard County.

 

ASSET MANAGEMENT

·       Review lease proposals.

·       Compare proposed lease terms to acquisition underwriting. Generate PV calculations

·       Update budget models to project future cash flows and cash management.

·       Assist owners with lease negotiations

·       Work with leasing agents to understand market rents and appropriate comparable properties

 

ACQUISITIONS

·       Work with owners on underwriting potential acquisitions.

·       Help prepare lease abstracts and review financials provided by seller

·       Help prepare investment memos to potential investors

·       Assist with third party inspections

 

 

OPERATIONS

·       Perform day to day operations of assigned properties.

·       Prepare contract specifications, analyze bids and prepare service contractors for various services, including landscaping, trash removal and exterminating, etc.

·       Oversee contracted services to ensure contract terms are meet and services fulfilled.

·       Seek proposals for projects and prepare bid specifications and manage project.

·       Develop relationships with contractors to obtain best value for services.

·       Generate written correspondence to tenants

·       Monitor and maintain copies of all NNN tenant required HVAC maintenance contracts

·       Regularly and proactively conduct property inspections. Act to ensure that common areas and vacant spaces are presentable.

·       Coordinate all aspects of tenant move-in and move-out logistics

·       Maintain and update contractor rules and regulations. Distribute to contractors.

·       Interface with in-house engineering staff.

·       Recommend and implement various base building improvement projects

·       Review CAM reconciliations and generate letters to tenants

 

FINANCIAL/LEASE ADMIN

·       Prepare annual budget for assigned properties. Confirm accuracy of rental rates and seek proposals for proposed expense items.

·       Understand key lease terms, including the difference between NNN and full-service leases.

·       Assist with ensuring that all lease obligations are fulfilled and deadlines are met.

·       Attend management meetings to review monthly financial statements and operations. Be prepared to discuss any significant variances to budget.

·       Review and ensure accuracy of annual tenant operating expense reconciliations. In conjunction with the Controller, address any disputes raised by tenants.

·       Review and approve invoices for assigned projects.

·       Generate excel spreadsheets to compare various lease alternatives

·       Assist owners with acquisition modeling and analysis.

 

CUSTOMER SERVICE

·       Exhibit superior customer service skills.

·       Pro-actively meet with tenants regularly to ensure a high level of tenant satisfaction.

·       Assist with addressing and correcting any issues raised by tenants.

·       Follow up with tenants to ensure high satisfaction level.

 

CONSTRUCTION MANAGEMENT

·       Work with Architect on space plans

·       Seek budget estimates from contractors

·       Work with tenants on plan approval

·       Review blueprints and ensure that work completed matches original plans

·       Approve vendor invoices

 

 

QUALIFICATIONS

·       Good writing skills and strong knowledge of Excel and Word software. 

·       Knowledge of Argus

·       Bachelor’s degree

·       Driver’s license and vehicle.

·       At least 8 years commercial real estate experience

·       Excellent organizational skills

 

 

 

Kenwood offers competitive salaries and a robust benefits program including, retirement savings), medical, dental and vision insurance plans, education assistance, and mileage reimbursement. We are an Equal Opportunity Employer.

 


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