Lease Administration Manager

2 weeks ago

Broomfield Colorado, United States Noodles & Company Full time
About the Role

We are seeking a highly skilled Lease Administration Manager to join our team at Noodles & Company. As a key member of our real estate team, you will be responsible for establishing and directing lease administration processes to ensure database accuracy and lease compliance for all corporate restaurant, office, and miscellaneous leases.

Key Responsibilities
  • Establish and maintain lease administration processes to ensure best practice policies and procedures for consistency and reliability of lease data.
  • Ensure accuracy and validation of lease data and fulfill all reporting requirements for the corporate real estate lease portfolio.
  • Oversee the lease administration database by creating processes for lease abstracting, ensuring compliance, and identifying system improvements as necessary.
  • Hire, train, and develop lease administrators, providing ongoing support and managing performance.
  • Negotiate and/or draft all SNDAs, amendments, and supplemental lease documentation, and approve all estoppel certificates to ensure protection of company's interests.
  • Ensure timely processing of all real estate related payments including monthly landlord rent payments, weekly miscellaneous billings, landlord utility payments, subtenant rent collections, and percentage rent/sales reporting compliance.
  • Monitor critical lease dates related to lease administration processes on all new restaurant openings, review existing leases, and prepare lease overview summaries for executive approval and ensure timely commencement of lease obligations.
  • Maintain and update straight-line rent schedules and adjust for any changes in lease obligations.
  • Collaborate with various departments to integrate lease administration processes smoothly with their functions.
  • Oversee the reconciliation of landlord rent accounts to ensure timely resolution of billings, compliance with leases, and minimized default exposure. Negotiate disputed billings with landlords as needed.
  • Manage CAM reconciliation reviews, coordinate with third-party auditors, and resolve escalated disputes with landlords.
  • Manage the lease renewal process including communication of upcoming renewals, tracking appropriate approvals, documenting the outcome of the executive team's decisions, communicating with team and Landlords regarding renewals and lease terminations/expirations, and drafting and negotiating renewal amendments.
  • Maintain strong relationships with landlords and internal teams (facilities, operations, accounting, real estate, and design/development) to address lease and maintenance issues.
  • Oversee tenant improvement allowance collections, ensuring conditions are met and payments are processed timely.
  • Ensure compliance with SOX requirements, maintaining key controls for rent processing and expense reporting.
  • Support internal processes related to lease accounting.
  • Perform additional duties and projects that contribute to the department and company's success.
Requirements
  • Bachelor's degree in accounting, real estate, legal, or related field, or equivalent practical experience is required.
  • Minimum 3 years of experience in lease administration is required; multi-unit retail experience a plus.
  • Experience with lease management software is required, Lucernex is ideal.
  • Solid understanding of accounting principles and retail lease agreements.
  • Strong organizational, analytical, and problem-solving skills with great attention to detail.
  • Ability to manage concurrent priorities and deadlines independently in an evolving organization.
  • Ability to understand and interpret complex commercial lease concepts and terminology.
  • Skilled in reviewing, negotiating, and drafting terms of commercial real estate documents.
  • Excellent written and verbal communication skills, with the ability to clearly articulate legal concepts.
  • Proficient in Microsoft Office applications (Outlook, Office, SharePoint) and general accounting software.

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