Vice President – Director of Retail Leasing

Office Location: Fairfax, VA 

Reports to: President – Retail

 

Position Summary
 
Peterson Companies is seeking an energetic, motivated individual to serve as the head of its Retail Leasing team to drive its leasing forward during a time of significant change in the retail industry. This person will work collaboratively within the Retail Leasing team and with members of the Development, Asset Management, Legal, Property Management, Marketing, Finance, and Tenant Coordination groups as well. To that end, the VP - Director of Retail Leasing is a “player-coach” who:
  • Leads and manages all aspects of the Retail Leasing Department; and

  • Has direct project-level responsibility on various existing and planned centers of the Company.

Leadership and Management Responsibilities
 
The VP - Director of Retail Leasing will be responsible for managing a staff currently consisting of three Retail Leasing Representatives and an Administrative Assistant. This individual will drive the Retail Division’s revenues and help it grow and complete compelling new projects. As such, this individual will be responsible for helping the team meet its leasing objectives and grow its proficiency and capabilities. More specifically, s/he will:
  • Working with the leadership of the Retail team, help set, develop, and/or update strategic leasing plans and priorities for all existing and planned retail projects. Reflect in those plans targeted tenants. To do so, this individual will remain current with national trends based on first-hand experiences as well as research.

  • Help lead SWOT analyses for all projects and assist in developing strategies that take advantage of strengths and counter weaknesses.

  • Motivate the Retail Leasing Team to generate hard results that drive rents, minimize leasing capital, and increase occupancy.

  • Build on the existing confidence, trust and respect for the Retail Leasing Department among internal stakeholders such as the Legal, Development, Asset Management, Property Management, Finance, Lease Administration, and especially with Marketing. In that regard especially, coordinate and cooperate closely with the Marketing team. Overall, be influential, timely and effective in communication, conflict resolution, and problem-solving. Similarly, build trust with outside stakeholders, particularly tenants and brokers.

  • Prepare for and present appropriate materials for the quarterly Retail Scorecard meetings.

  • Supervise and manage the Retail Leasing team’s preparation of leasing assumptions as part of the annual business plan cycle and all reforecasts for operating projects as well as for project proformas.

  • Working with key stakeholders, ensure that resources, technology, and processes are in place to maximize the Retail Division’s effectiveness in executing leases, amendments, and other related tenant documents.

  • Conduct regularly scheduled Retail Leasing team meetings to build teamwork, trust, talent, commitment and alignment on project priorities and department programs/policies and procedures.

  • Demonstrate business, financial and administrative acumen at a departmental level.

  • Conduct performance appraisals, compensation/bonus reviews, competency reviews and establish and monitor department goals and individual performance objectives which align with Retail Division and Company goals.

  • Assign, and as needed reassign, Retail Leasing team members to specific projects to ensure proper attention to the Company’s leasing goals.

  • Maintain a professional and positive atmosphere that permits the highest level of individual and collective departmental performance.

Project-Level Responsibilities
 
The VP - Director of Retail Leasing will also have individual leasing assignments on specific projects. More specifically, s/he will:
  • Develop an in-depth working knowledge of all assigned properties while understanding the goals and objectives of each and implementing the associated leasing guidelines.

  • Be aggressive in identifying deal opportunities and presenting space to prospective tenants and working on a team basis with other members of the leasing team to provide assistance and back-up for leasing at other properties.

  • Respond promptly to leasing inquiries, obtain information related to prospective tenants, canvass for new tenants, and apply consistent follow-up with all prospects.

  • Provide input into the appropriate merchandising strategies to keep projects relevant and identify up and coming trends/tenants to target.

  • Develop and maintain relationships with outside brokers and tenants that are active in the relevant submarkets.

  • Understand and provide detailed input to Development and Asset Management on budget info related to leasing for assigned properties, including tenant allowances, operating expenses, projected income, timeframes for lease up, etc.

  • Review property update reports on a monthly basis for accuracy. Investigate and resolve discrepancies as needed.

  • Work with property management to track all knowledge of the properties and each tenant’s performance and likelihood to live out the terms of their lease or renew.

  • Maintain current market information related to the competition and market surrounding the assigned properties.

  • Negotiate and draft Letters of Intent and other documents as required and assist Legal in lease negotiations. 

  • Analyze all aspects of deals as they compare to the market and budget and acceptable risk/return measures.

  • Prepare leasing status reports, lease summaries and other periodic reports, which may be required to monitor status of the existing and prospective tenants.

  • Attend meeting and events associated with the real estate industry for purposes of networking with brokers, owners, tenants, etc.

  • Work with other internal divisions to ensure that we exceed the expectations of our tenants from the execution of the lease through the occupancy of the space.

  • Update content on marketing and/or technological tools the company may use from time to time.

  • Keep up with trends and changes in the retail industry, locally and nationally, to ensure the Company’s assets remain strong relative to their competition.

Qualifications
 
The VP - Director of Retail Leasing will:
  • Be an assertive self-starter with the ability to work independently and as a key member of a team.

  • Must be proactive, strategic, and forward thinking in the execution of duties with strong organization and time management skills.

  • Must be detail oriented with exceptional analytical and problem solving abilities.

  • Understand the financial implications of deals as they relate to the Company’s risk tolerance and return expectations as well as their impact on project (re)financings and/or sales.

  • Have strong communication and people skills, including a proven ability to build relationships at levels of an organization and with people in all walks of life.

  • Understand the interplay of demographics, psychographics, and marketing in driving projects.

  • Have strong computer skills, including proficiency in Microsoft Word and Excel and Outlook.  Have a bachelor’s degree or higher.

  • Have 10 or more years of retail leasing experience, primarily on the landlord side of the business on development and stabilized assets similar to the Company’s.

  • Have a strong Washington, DC-area market knowledge.

Please submit your resume to employment@petersoncos.com