Real Estate Portfolio Associate
2 months ago
Discovery is at the core of everything we do - whether it’s a great value, incredible style, or building long-lasting partnerships with people around the world. That’s what makes TJX different. You can find it all across our brands: TJ Maxx, Marshalls, HomeGoods, Sierra, and Homesense. Every one of our brands has one thing in common: environments that are always changing. That’s just how we like it. Every day is an opportunity to discover something new about our business, our partnerships, and even about yourself. Come discover what different can mean for you.
The Opportunity: Contribute To The Growth Of Your Career.
The Real Estate Portfolio team analyzes and compiles data for all Quarterly Lease Action documents (approximately 450/year) for Senior Management’s review and approval. The Real Estate Portfolio Analyst audits leases and prepares data, including current lease expiration, action date and option terms, Store Operations and Real Estate comments, and sales and income history. Monitors all poor performing and short-term lease locations for closing potential and updates store closing list with updated financial data and lease expiration dates. Prepares Landlord Portfolio meeting documents for critical Landlord Portfolio meetings. Creates quarterly summary reports of savings and lease actions achieved for reporting to Corporate Finance and Real Estate.
Major Areas of Responsibility:
- Audits leases relative to quarterly lease action process.
- Review leases to verify and confirm lease action dates and critical lease information.
- Compiles data relative to the preparation of the lease action documents.
- Builds lease action data sheets for locations requiring lease action for Senior Management’s review and approval.
- Facilitates acquiring comments on locations requiring lease action from both Operations and Real Estate.
- Maintains a master lease action tracking status report to ensure the appropriate action for each location has been taken by the deadline date, or if necessary, ensures that an extension of that date has been secured.
- Provides Management with a quarterly summary of actions taken and results achieved.
- Collaborates with Portfolio Manager to determine course of action on critical lease action negotiations and early renewals of leases.
- Negotiates rent reductions on existing store locations, resulting in significant increases to the bottom-line.
- Negotiates split of options to provide flexibility to pursue alternate locations.
- Negotiates additional term to secure real estate for the long term.
- Drafts renewal letters and ensures that all legal notices to renew leases are sent according to lease terms.
- Tracks and verifies landlord's receipt of legal notices thereby ensuring accurate renewal of leases.
- Reviews legal documents prepared by Legal for accuracy to ensure deal terms conform with the real estate approval and assesses need for change memos if additional approvals are needed.
- Creates data vital for lease action negotiations which can result in significant rent savings annually.
- Participates in process strategy
- Other projects as assigned.
Who We Are Looking For: You.
- Bachelor’s degree, paralegal certification or equivalent experience.
- 1 - 2 years Real Estate experience in a leasing environment.
- Knowledge of retail lease documents and other legal documents relative to property. Strong analytical skills and attention to detail.
- Excellent communication skills, both written and verbal.
We care about our culture, but we also prioritize your needs
- Competitive Pay
- Hybrid Work Environment
- Weekly paychecks
- Paid time away
- Programs to support environment and corporate responsibility
- TAAP – TJX Associate Assistance Programs
- Associate Discount
- Career Development Opportunity
- Be a part of an inclusive team
Benefit programs and eligibility terms vary across our global locations. We encourage you to apply to learn more about how our benefits can make a difference for you.
This position has a starting salary range of $72,100 to $91,800 per year.
Actual starting pay is determined by a number of factors, including relevant skills, qualifications, and experience.
Discover Different at TJX means opportunity, teamwork, and career growth. That’s why working here is so much more than a job. When you’re a part of our TJX family, you have the full support of a diverse, close-knit group of people that work together to deliver the best value and style in the business. Our inventory is always changing and our approach is continually evolving, which means every day is another chance to Discover Different.
We consider all applicants for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability, gender identity and expression, marital or military status. We also provide reasonable accommodations to qualified individuals with disabilities in accordance with the Americans with Disabilities Act and applicable state and local law.
Posting Notes: 300 Value Way Marlborough MA 01752
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