Private real estate investment firm headquartered in Rosemont, IL seeks a Real Estate Development Manager to join our team in our Rosemont, IL office. This is an exciting opportunity to work in the real estate industry for one of the top 20 global industrial real estate owners: Since 2010 we have acquired over $4 billion in industrial real estate. Our current portfolio spans 30 states and encompasses 45 million square feet with 10 offices nationwide and our organization demonstrates a proven track record as well as an entrepreneurial spirit and vision for the future.
The Development Manager (DM) will play an integral role supporting the real estate development and construction management efforts of the firm which acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. The DM is responsible for the oversight of all aspects of the firm’s industrial real estate development life cycle including the review of existing and pursued development projects. The DM manages all phases of development projects from inception through completion and aligned with our firm’s high standard of excellence. This includes overall design, planning, scope development, permitting, contract negotiations, budgeting, scheduling, coordination with contractors and sub-contractors, and partnering with internal and external stakeholders throughout the duration of each project.
- Plan all project phases, assess project team needs, establish milestone dates and execution timelines
- Establish project budgets, including hard costs and soft costs, and manage those costs through completion
- Collaborate with architects, engineers, and consultants on the design and permitting process
- Prepare Request for Proposals, bid documents, bid analyses, and award letters for general contractors
- Negotiate contracts with general contractors, consultants, vendors, and suppliers
- Coordinate and lead jobsite meetings with the design team, general contractor, and other internal and external stakeholders
- Monitor and review requests for information, change order requests, and the submittal processes
- Manage all project contractual and financial obligations, collaborate with Development Accountant on monthly invoices and the construction loan draw processes
- Fulfill all project-related reporting requirements including monthly reports with updates on budget and schedule
- Manage and execute punch list processes to ensure timely completion of any corrective work needed
- Manage project closeout activities including acceptance and completion of projects, and ensure final payments are secured
- Manage project closeout activities with internal parties to ensure completion of all required items
- Organize and maintain project documentation for various construction projects and prospective development opportunities
- Monitor progress of multiple construction projects, quality of construction, and timelines
- Develop, monitor, maintain, and enforce project schedules, and develop remediation plans if needed
- Minimum of 15 years’ experience
- Bachelor’s degree required, BS degree with concentration in construction management or civil engineering highly preferred
- Master’s degree in real estate development, business administration, or related field preferred
- Progressively responsible experience with an industrial/commercial real estate developer, general contractor, construction management, or closely related company
- Highly organized work style, with a strong ability to concurrently manage multiple projects at different stages of development
- Ability to evaluate and interpret design and construction documents, contracts, budgets, and schedules
- Demonstrated experience with MS Office applications (especially Excel, Microsoft Project, PowerPoint, and Word) and MS Project
- Exceptional interpersonal and communicative skills, balancing assertiveness with professionalism and diplomacy
- Good business sense, with effective negotiation skills
- Solid organizational skills, both quantitative and qualitative analytical skills, including the ability to prioritize and multitask
- Exceptional attention to detail, and the ability to meet deadlines
- Ability to remain flexible and thrive in a continually changing environment, with proven problem-solving skills
- Literacy with web-based project management, budget management applications, and savviness to learn new applications
- Ability to travel, including overnight travel (<25%). Candidate must have a valid driver’s license and good driving record.
Senior Asset Manager, Single Tenant Net Lease
Private real estate investment firm headquartered in Rosemont, IL seeks a Senior Asset Manager to join our team in our Rosemont, IL office. This is an exciting opportunity to work in the real estate industry for one of the top 20 global industrial real estate owners: Since 2010 we have acquired over $4 billion in industrial real estate. Our current portfolio spans 30 states and encompasses 45 million square feet with 10 offices nationwide and our organization demonstrates a proven track record as well as an entrepreneurial spirit and vision for the future.
The Senior Asset Manager provides asset management services in support of the management of Brennan Investment Group’s Single Tenant Net Lease platform, comprised of nationally dispersed, single tenant net-leased industrial properties which are generally leased under longer-term, absolute-net leases that require regular servicing and monitoring for compliance. The Sr. Asset Manager will take the lead role on behalf of ownership to ensure that all rents are collected on a timely basis, that all expenses are paid, that tenants maintain the properties in good condition and that tenants otherwise comply with all lease obligations. The Sr. Asset Manager will also take the lead in monitoring the ongoing creditworthiness of tenants, and in generally managing landlord obligations and owner/borrower compliance with applicable lease or loan agreements. This important role has “front line” responsibility for the financial and operational performance of the assigned assets and/or portfolios including leasing (or leasing support); budgeting, forecasting and cash management; partner/lender reporting; financial analysis typical to real estate investment management; operating, leasing and capital decisions; property management (limited landlord obligations); lease administration and tenant communications. Our collective purpose is to ensure investor returns are both stable and maximized.
- Leasing – In consultation with the Senior Vice President of Portfolio Management, the Sr. Asset Manager will take the primary role in maintaining asset occupancy and driving lease renewals through establishing strong tenant relations with a business-friendly, “real estate solutions” type of bias in an effort to encourage new business and early renewals. Tenant clients have a business to run, not real estate, and that is where the BIG STNL Asset Manager steps in to offer solutions that address functional, capital, or otherwise help improve the operational efficiency of our clients. Should tenant replacements be necessary, the Asset Manager will take the lead on releasing efforts and listing broker management.
- Portfolio Servicing – Communicate effectively with tenants and lenders including coordination of rent and lease notices, reserve draw requests, compliance with insurance requirements, tax escrows, leasing, capital projects and other approvals.
- Rent Billing and Collections – monthly rent billing and collections from tenants
- Operating Expenses – monthly payment of real estate taxes, insurance and other operating expenses
- Capital Expenditures – Ensure that tenants address any deferred maintenance / immediate repair items on a timely basis in accordance with lease and loan requirements
- Tenant Credit Analysis – Gather, chart in Excel and analyze quarterly and annual tenant financial statements
- Financial Analysis – Conduct all financial and investment analysis typically required in the management of institutional real estate investments for the assigned portfolios including: incremental investment decisions such as hold/sell, leasing, capital investment, disposition, and reforecast modeling; building expansions and other value enhancement or opportunistic transactions; tenant credit analysis; sources/uses and portfolio cash management.
- Financial Reporting – With Accounting support, the Asset Manager will take the lead role in monthly, quarterly and annual financial reporting (including audit and tax requirements) within BIG (internal), and for partners, and lenders, and ad hoc requirements.
- Budgets – Preparation of annual operating and capital expense budgets for all properties
- Capital Markets – Support the acquisitions, dispositions and capital markets functions as it relates to asset management interface with all manner of transactions (acquisitions, dispositions, financings, and recapitalizations). Will often take lead role in executing disposition plans.
- Bachelor’s degree from four-year college or university, preferably with a focus in real estate finance, management, or development.
- Minimum 5 years’ experience in real estate asset management [in a lead role/capacity]. Experience in industrial properties strongly preferred.
- Proven high degree of real estate investment financial acumen and related analytical skills is required
- Critical mindset and attention to detail is required. Must be able to validate own work.
- Proficiency in Microsoft Word, Excel, Outlook, and basic email, document, and file management software. Argus experience (preferred).
- Requires results-oriented, self-starter with the ability to independently manage to completion long, multi-step leasing or capital projects, capable of anticipating problems and taking necessary precautions to maintain the stable, long-term earning prospects of the asset and/or portfolios.
- Must be a a goal-oriented driver – while also being a team player, capable of building consensus in a collegial, fast-paced and growing organization.
Property Manager, Rosemont
Private real estate investment firm headquartered in Rosemont, IL seeks a Property Manager to join our team in our Rosemont office. This is an exciting opportunity to work in the real estate industry for one of the top 20 global industrial real estate owners: Since 2010 we have acquired over $4 billion in industrial real estate. Our current portfolio spans 30 states and encompasses 45 million square feet with 10 offices nationwide and our organization demonstrates a proven track record as well as an entrepreneurial spirit and vision for the future.
The Property Manager is responsible for the overall operation and financial success of assigned properties in the Chicago industrial market in accordance with company policies, procedures, and standards, ensuring that service delivery meets company performance and quality standards.
- Develop and maintain positive relationships with all customers and vendors. Be proactive and responsive to customer’s needs and requests.
- Responsible for the property revenues and expenses and use sound financial measures to ensure that the budget and financial goals are met.
- Ensure customers are current in receivables and lease responsibilities;
- Perform and/or monitor collections and coordinate default proceedings;
- Contact vendors and coordinate the completion of work when maintenance requests are received;
- Assist in the creation and implementation of operating and capital budgets.
- Establish and administer estimated/actual recoveries.
- Coordinate operating expense reconciliations with the accounting department; must be knowledgeable of lease provisions.
- Coordinate real estate tax review process for properties; communicate tax issues to senior management.
- Coordinate insurance requirements for properties and associated vendor/supplies.
- Coordinate AP/AR invoicing process for portfolio.
- Support Managing Principal in achieving occupancy goals by offering superior customer service and relationship management to achieve high tenant retention levels by ensuring vacancies/marketable spaces are up to Brennan Investment Group standards.
- Investigate all complaints, disturbances and violations and resolve the issues.
- Ensure compliance with property management policies and procedures, codes, regulations and governmental agency directives. Maintain compliance by ensuring all property records are maintained in accordance with all legal requirements and Company policies and/or practices.
- Coordinate environmental programs for assigned properties.
- Coordinate the annual Customer Survey for assigned properties.
- Coordinate the lease administration process by ensuring timely updates of any lease changes for assigned properties.
- Coordinate customer move-ins and move-outs process for assigned properties in a timely and coordinated manner including the preparation of commencement letters, orienting new customers to property management office staff, services and procedures, meeting and coordinating with vendors, arranging for building access, and ensuring compliance with insurance requirements.
- Follow established Company and legal requirements related to the default proceedings and eviction process.
- Conduct routine site inspections to ensure that the physical aspects of the properties meet established standards regarding the grounds, curb appeal, risk management/safety requirements (OSHA), cleanliness, and general appearance, and implement corrective measures as necessary.
- Solicit bids from contractors for work performed and award contracts after securing required approvals. Oversee contractors, vendors, and other service providers including proper documentation and monitoring of vendor performance to assure full compliance with standards established within the service agreement.
- In conjunction with other departments, plan, schedule, and coordinate general maintenance, major repairs, and capital improvement projects.
- Bid, award and oversee customer improvements and building improvements.
- Act as a liaison between customer and construction management and participate in punch list walk-through and follow-up; coordinate finish selections.
- Partner with other departments to resolve property management issues.
- Provide direction and leadership to a team of 1-3 employees (maintenance technicians, administrative personnel). Develop and motivate staff to achieve goals and objectives. Ensure employees are provided necessary training and direction to achieve designated objectives.
- Assimilate and analyze information pertaining to market and economic conditions.
- Other duties, as assigned.
- Bachelor’s Degree from a four-year college or university.
- 3+ years property management experience preferred.
- CPM or RPA designation; or equivalent combination of education and experience preferred.
- Must have work experience industrial/commercial real estate, including supervisory background and very high customer service skills.
- Must be able to consistently maintain a professional demeanor.
- Ability to provide superior internal and external customer service; strong diplomacy and crisis diffusion skills.
- Must be able to multi-task; prioritize and work with minimal supervision, have strong attention to detail and excellent time management skills to ensure all established deadlines are met.
- Demonstrated ability in verbal and written communication skills. Skilled in the use of the internet, spreadsheets, relational databases, and word processing software. Ability to process computer data and to format and generate reports. Ability to create, compose, and edit written materials.
- Proficient working knowledge of Microsoft Office suite (e.g., Word, Excel, Outlook)
- Good mathematical and analytical skills.
- Good working knowledge of property management accounting software.
- Requires a valid driver’s license and the ability to travel to multiple properties.
- As business dictates, able to work extended/flexible hours (e.g., nights/weekends/on-call).
- MRI software experience preferred
- Membership/activity in one or more professional real estate-based organizations preferred (BOMA, IREM, etc.).
Property Administrator, Rosemont
Private real estate investment firm headquartered in Rosemont, IL seeks a Property Administrator to join our team in our Rosemont office. This is an exciting opportunity to work in the real estate industry for one of the top 20 global industrial real estate owners: Since 2010 we have acquired over $4 billion in industrial real estate. Our current portfolio spans 30 states and encompasses 45 million square feet with 10 offices nationwide and our organization demonstrates a proven track record as well as an entrepreneurial spirit and vision for the future.
Under the general supervision of the Midwest Region’s Managing Principal (MP) and day-to-day direction of the Property Managers, the Property Administrator (PA) will collaborate with the operations, accounting and leasing teams to help manage a portfolio of assets located in the Midwest Region. The PA will be responsive to customer, investor, and lender needs while completing multiple administrative tasks daily. The position will be fast-paced, requiring the PA to handle time-sensitive and/or confidential issues.
- Upon lease execution, enter new lease terms in MRI. Complete a move-in checklist, prepare welcome books with the property manager, and assist with customer onboarding.
- Coordinate annual customer surveys by assisting in the preparation of the survey, delivery of surveys to customers, follow-up on customers’ completion of the survey, and tracking/disseminating results.
- Arrange for utility transfers upon acquisition and/or disposition of an asset; also, arrange for transfers upon customer move out or move in.
- Contact existing customers and vendors to obtain current insurance coverage, any on-going required maintenance contracts, and emergency contact lists.
- Assist property managers in inputting estimated monthly operating expenses into MRI.
- Assemble accounts receivable reports, general ledgers, rent rolls, and aging reports for property managers’ review.
- Review expense coding prior to property managers’ approval. Review vendor monthly statements and request outstanding invoices for processing.
- Assist property managers and maintenance technicians with coordination of customer repair requests.
- Assist with customer relation activities (email blasts, events, gifts, surveys, etc.).
- Complete expense reports for property managers in Avid and collaborate with the Accounting department for processing and approval.
- Assist property managers with vendor contract preparation and manage/organize the completed documents.
- Collaborate with property managers to process lender funding packages for capital projects, tenant improvements, commissions, etc.
- Collaborate with operations team on property tax appeal documentation and other administrative tasks related to property tax appeals.
- Assist property managers on CAM reconciliations, annual budgets, billing adjustments, and any other necessary schedules.
- All other administrative duties as assigned by the supervisor.
- Requires three years’ experience in Administration or related field and/or training.
- Ability to carry out specific oral and written instructions.
- Meticulous attention to detail and accuracy.
- Execute responsibilities with a sense of urgency and follow-through.
- Ability to collaborate with operations, accounting and leasing team members to complete various projects and assignments.
- Excellent customer service and interpersonal skills. Proven ability to communicate via email with customers, vendors, and internal team members.
- Ability to use computer software and web-based applications.
- Demonstrated ability to manage multiple projects and tasks daily with efficiency and accuracy.
- Ability to organize and prioritize work assignments to meet deadlines.
- Good record keeping of property improvement projects to assist property manager in scheduling and payment processing.
- Proficient knowledge of the Microsoft Office Suite (e.g., Word, Excel, PowerPoint, Outlook).
- Positive, proactive work ethic and approach.
- College degree preferred.
- Property administrative and/or property management experience preferred.
- Experience with lender draws preferred.
- Experience with Avid and/or MRI preferred.