Senior Property Manager

Velocity Venture Partners; Bala Cynwyd (PA); On-site; USD 70,000 - 110,000; Full time

Job summary

An established industry player is seeking a Senior Property Manager to enhance the value of its real estate assets through strategic management and operational excellence. This role involves overseeing budgets, managing facility operations, and ensuring compliance with regulations. Ideal candidates will have extensive experience in commercial real estate and strong leadership skills. Join a dynamic team that values innovation and efficiency in asset management, and contribute to the growth of a firm that is making significant impacts in the Northeast real estate market.

Qualifications

• 8+ years in the commercial real estate industry.
• 5+ years in a managerial position.
• Background in budgeting and lease administration.

Responsibilities

• Develop and manage budgets while controlling expenditures.
• Oversee property operations and maintenance.
• Inspect and correct physical and operational defects.

Skills

Commercial Real Estate Experience

Budgeting

Personnel Administration

Lease Administration

Excellent Communication Skills

Supervisory Skills

Education

Bachelor's Degree

Job description

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**MUST HAVE COMMERCIAL REAL ESTATE EXPERIENCE**

Company Details:

Velocity Venture Partners is a Philadelphia-based real estate private equity firm that specializes in the acquisition and management of opportunistic industrial and flex assets in the Greater Northeast region of the United States. Founded in 2017, Velocity brings an institutional approach to their investment strategy, focusing on middle-and upper-middle market B & C Industrial/Flex-product primarily located in the SEPA/SNJ markets. Both Founders were born and raised in Velocity’s core markets – bringing a rare local point of view that is crucial to the firm’s strategy.

Velocity evaluates industrial and flex investment opportunities critical to e-commerce, fulfillment, manufacturing, and production processes throughout the Greater Northeast. Velocity has built and maintained a vast network of debt and equity relationships, streamlining the internal funding process for each new acquisition. In addition, the firm’s size and nimble approach enables quicker actions and decision making compared to competitors – ranging from acquisitions to leasing to capex and cosmetic work on newly acquired assets.

As a fully integrated firm – with internal infrastructure ranging from construction to property management – Velocity delivers an unmatched approach to strategic industrial acquisitions and asset management. The firm currently owns and manages over 9 million square feet of industrial space in the Greater Northeast region.

The Senior Property Manager (SPM) is responsible for increasing the overall value of the asset, both physically and economically, through proper financial management, administration, facility operation and asset improvement/protection.

Responsibilities of the SPM will include (among other duties):

• Develop budgets with a strong understanding of long-term facility planning to maintain and control all expenditures in the Operating Budget including all CAM items, owners operating expenditures, recoverable utilities and capital improvements (excluding development expenses).
• Address all property needs without exceeding budget.
• Identifying potential areas for asset improvement.
• Possess an awareness of recoverable utility budgets as a profit center for the locations where they apply.Knowledge of utility resale operations and procedures is important to maximizing profitability in this area.
• Forecast construction costs and bidding for the efficiency of the leasing operation.
• Accurate and expedient management of the Landlord cost component of leasing deals accelerating and maximizing revenue stream.
• Control operations to meet set budgets.
• Creatively manage aggressive bidding, implementing cost controls and other techniques to achieve property objectives within the guidelines of established budgets.
• Review and approve all expenditures, monitoring and controlling the operating budget status.

Administration:

• Timely submit detailed, accurate reports which help the overall efficiency of the Property Management Department.
• Participate in the hiring/training of any Facility Supervisor (if applicable), Administrative Assistant and maintenance personnel (if applicable) for his/her portfolio.
• Document, track, and update the leasing process on the corporate (Status Report) system, particularly the Property Management functions.
• Effectively track pending expirations and preparing for upcoming Landlord work.
• Oversee record keeping and documentation to ensure its completeness.Including, but not limited to, Certificates of Occupancy, tenant insurance, vendor insurance, contracts/service agreements, warranties, inventories, personnel records, etc.

Facility Operation:

• Manage the repair, maintenance and improvement of the physical asset, including the daily cleanliness and aesthetics of the property to major improvement projects, minimizing the loss of value and effectively increasing asset value where possible.
• Establish and implement long-term strategies for the property carried out through proper budgeting, establishing and implementing systems and procedures for improved operation, training and supervising facility and maintenance staff to manage customary property needs, and setting the standards by which all these are measured.
• In addition to the normal repair and maintenance items that arise, systems of periodic maintenance and service should be established to reduce unexpected repairs and expenses.Long-term plans for repair or replacement should be incorporated into the financial planning process.
• Develop contract specifications that would maximize the service level received at the best cost with the ability to do a cost/benefit analysis of various contract proposals.
• Properly allocating resources (contractors, in-house personnel, equipment) to maximize performance and property standards at the most effective cost.
• Develop and implement the best approach to challenging facility situations with broad-based knowledge.Effectively negotiate with and supervise outside contractors.
• Manage all aspects of the tenant construction process (where applicable), including Landlord work and Tenant work, Bidding, Contracting and Supervising Landlord work.
• Review and approve tenant plans, tenant permitting and other documentation, while applying the Landlord’s criteria, and enforce construction regulations and inspect contractor’s work.

Asset Protection/Improvement:

• Inspect, identify, and correct physical, procedural, and operational defects as well as pending or potential future physical defects.
• Management of the claim reporting procedure, documentation and defense of claims for the protection of the asset.
• Keep abreast of current codes and regulations (i.e., ADA, etc.) to prevent potential lawsuits.
• Support company leasing efforts, expediting tenant openings, and seeking alternative sources of revenue which can be generated.
• Understand and evaluate the surrounding market for the proper management of the center; update quarterly reports accordingly.
• Provide good communication and interpersonal skills to maintain good relationships with tenants.
• Maintain uniform guidelines and compliance in a professional and pleasant manner.
• Maintain a good working relationship with township officials to provide value to the company and its assets.

Qualities of an Exceptional Candidate:

• 8+ years in the commercial real estate industry
• 5+ years in a managerial position
• Bachelor’s Degree or higher
• History of continuing education and training
• Excellent communication and supervisory skills
• Background in budgeting, personnel administration, contracts, marketing, construction, tenant relations and lease administration required

Disclaimer:This represents a broad overview of the SPM position and is not intended to be an all-inclusive job description, but a highlight of key functions and expectations.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Sales and Management

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