Leasing Specialist

2 weeks ago

Torrance, California, United States Simon Property Group Full time

Job Location:

Del Amo Fashion Center

PRIMARY PURPOSE:

This role is crucial for maintaining a high volume of leasing transactions within both new and established regional shopping centers. Simon Property Group has been recognized as Fortune's Most Admired Real Estate Company multiple times over the past decade. This position offers a valuable opportunity to collaborate with the leading real estate developer globally and one of the top leasing teams in the industry.

PRINCIPAL RESPONSIBILITIES:

The successful candidate will be tasked with the following responsibilities:

Engaging with potential tenants; promoting the benefits of establishing their business in SPG centers; addressing inquiries from retailers interested in leasing opportunities. Assessing prospective tenants by analyzing their financial documents and conducting reference checks; negotiating lease terms on behalf of SPG to ensure maximum returns for property owners, covering aspects such as space, rent structures, lease duration, additional fees, and construction allowances; reviewing agreements with supervisors and securing necessary approvals. Collaborating with the Legal department to prepare documentation that reflects the agreed-upon terms specific to each property; initiating tenant space preparations; coordinating with the construction team to provide necessary drawings and guidelines. Conducting market research to identify potential tenants; visiting existing retail establishments within the community and nearby areas; reaching out to retailers to gather insights and gauge their interest in leasing space; reviewing industry publications to spot potential national and regional tenants while staying informed about market trends. Evaluating retailers for their suitability as tenants in specific SPG centers; analyzing product offerings, pricing strategies, service levels, store design, and overall appearance; maintaining a database of potential tenants for future reference; assisting Mall Managers in identifying desirable retailers to occupy vacant spaces. Developing leasing strategies for new centers; analyzing center performance and consulting with the relevant VP of Development to establish target rents; collaborating with Property Management for estimates on CAM charges and taxes, and with Energy Engineering for central system costs; reviewing market research and consulting with local retail experts to determine ideal tenant profiles; identifying optimal locations for tenants throughout the center based on merchandise mix and customer traffic. Participating in leasing conventions and industry events to represent SPG and its properties; generating interest in SPG locations and sharing updates on new and existing developments with potential tenants; networking to discover new leasing opportunities and exchange insights on industry trends. Communicating with and updating partners, lenders, and other stakeholders on leasing activities as necessary. Preparing annual budgets for the center for review and approval by senior management.

Problem Solving Environment

Constraints: The incumbent operates under broad managerial guidance to achieve both short-term and long-term goals. Self-motivation, independence, and sound judgment are essential.

Difficulties: The primary challenge of this role is to lease spaces for optimal use, ensuring timely openings and terms that yield the highest returns for property owners. This position requires significant travel (50%) and a flexible work schedule.

MINIMUM QUALIFICATIONS:

Bachelor's Degree 2-4 years of experience in retail leasing or sales Familiarity with merchandising strategies and retail operations Understanding of lease structures and terminology Strong negotiation and closing abilities Excellent verbal and written communication skills.

Salary/Wages – The salary range for this position is $125,000 - $150,000. Actual compensation will depend on various factors, including individual skills, experience, and qualifications.

Benefits – Simon offers a comprehensive benefits package, including medical, dental, and vision coverage, 401(k), life and AD&D insurance, disability insurance, flexible spending accounts, and paid time off (for full-time positions).

ICP Bonus - This position is eligible for a bonus, determined annually based on factors such as position, achievement of individual performance goals, and overall company performance.

Discretionary Bonus – This role may qualify for a discretionary bonus, awarded at management's discretion based on individual performance assessments.

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