Director of Leasing and Property Management

About the Job

Director of Leasing and Property Management
Planning, Space, and Real Estate
University of Minnesota

Description of Position

The Director of Leasing and Property Management directly oversees all leases and use agreements for the University's internal and external real estate portfolio and the management of university facilities overseen by the real estate office. The Director is the key contributor for the systemwide strategic initiatives involving the leasing of real estate and adds strategic value by understanding academic program needs and the commercial real estate market to ensure that University needs are met with the identification and negotiation of leased space.

This position serves as the University's expert regarding lease agreements and the main point of contact for all major leases impacting the University.

This is a 12 month, 100% time position, which reports to the Assistant Vice President of Planning, Space, and Real Estate.

• 60% - Lease Transactions and Negotiations:
  Direct all leasing activities for the entire University of Minnesota System to ensure exceptional real estate services in support of the University's mission. Responsibilities include negotiation, management, and processing of long- and short-term agreements for various University (systemwide) clients as both landlord and tenant (new leases, lease renewals, amendments, options, terminations, utility license agreements, short-term access agreements).
• Provide strategic real estate leadership by working with clients and senior leadership to understand objectives, advise on terms and market conditions, research fair market rents, complete due diligence and financial analysis, negotiate terms, draft documents, coordinate approvals, and obtain all approvals (including Board of Regents materials when total transaction value exceeds $1,000,000); collaborate with General Counsel to ensure appropriate legal documents;
  
  ensure insurance requirements are met.
• Leadership, Supervision, and Policy Direction - 15%:
  Provide departmental leadership, supervision, and guidance to the Leasing and Property Management Team (supervising two Senior Real Estate Specialists, one Lease Administrator, and one Real Estate Property Manager).
• Serve as the expert on policies and procedures pertaining to use and lease of real estate and oversee systemwide implementation of these policies and procedures.
• 15% - Property Management:
  Oversee operations and management of the Real Estate Office's managed properties, including management contracts for wholly-owned LLCs. Direct the Real Estate Office's Property Manager to ensure facilities are operated, maintained, and improved; review and approve operational services, facility use, repairs, maintenance, purchases, upgrades, building demolition, and capital improvements.
• 10% - Lease Administration Oversight:
  Direct management of internal lease portfolio (UofM as landlord) for 450+ long-term leases/agreements and all short-term space and land use. Direct management of external lease portfolio (UofM as tenant) of 400+ leases totaling ~1 million sq ft and ~2,600 acres of leased land. Ensure lease administration activities adhere to lease terms, enforce landlord/tenant obligations, process and approve monthly rent payments for 70+ Leases, resolve delinquent AR, manage rent adjustments and CAM credits/debits, and maintain Lease Inventory Database System.

Work Environment:
Hybrid (part-time remote and part-time on campus).

Hours:

8:00 – 4:30 or 8:30 – 5:00.

Minimum Qualifications

• Bachelor's degree and 12 years of relevant real estate experience, with a minimum of 2 years of supervisory experience.

Qualifications Essential to the Position

• Exceptional record of commercial real estate leasing transactions; successful negotiating, drafting, and finalizing leasing transactions.
• Experience conducting financial analysis of proposed lease transactions.
• Knowledge of and experience with higher education real estate practices, policies, systems, and procedures is preferred.

Knowledge/Skills/Abilities

• Expert knowledge of the commercial real estate market, leasing concepts, and contract writing…