State: VA
City: Arlington
Zip Code: 22203

Overview

AvalonBay Communities, Inc., an equity REIT, has a long-term track record of developing, redeveloping, acquiring and managing distinctive apartment homes in some of the best U.S. markets, and delivering outsized, risk-adjusted returns to shareholders. With equal parts experience and vision, we’ve established a leadership position rooted in our purpose of creating a better way to live and that is always focused on building value for the long term.

Creating a better way to live is the purpose that binds AvalonBay associates. We take that purpose seriously and expect you will as well. By focusing on collaboration, innovation, and taking ownership of our choices and actions, we act in ways that focus on creating value for our customers, investors and associates. Your positive, professional, and consistent personal interactions make AvalonBay a great place to work.

The Role

This position is well-suited for someone with extensive retail leasing experience at an institutional landlord, who is eager to expand their expertise in asset and investment management.

• Manage 3rd party brokers including discussion of prospects, deal terms, merchandizing and concepts

• Analyze financial impact/feasibility of economics and other business terms for potential commercial tenants

• Lead LOI negotiations from initial draft through final executed version

• Prepare and present deal packages to seek approval to advance to lease, including final LOI, financials with executive summary, deal summary analysis including pro forma

• Complete annual budgeting and quarterly reforecasting for development and operating communities, including market vs in-place analysis, market supply and demand dynamics informing downtime and re-leasing assumptions, capital requirements

• Negotiate leases with prospective retail tenants including coordination with internal and external counsel as well as internal departments, as relevant (Risk Management, Residential Services, Construction, Asset Management, etc)

• Maintain strong tenant and broker relationships

• Ability to initiate and close some direct deals

• Prepare and present portfolio reviews with preferred existing tenants to expand relationships to multiple locations

• Work closely with in-house Tenant Construction team to explore optionality and best practices as it relates to Landlord Work and/or Tenant Improvements. Leverage in-house capabilities to drive dealmaking and achieve highest and best results

• In partnership with Tenant Construction, continue tenant relationship and any follow-up required from lease execution through store opening

• Develop leasing strategies and objectives for both development and operating properties with retail

• Negotiate amendments/renewals for existing retail tenants, particularly with economic impact

• Develop (re-)positioning and marketing strategies for challenging commercial space

• Attend ICSC and other industry events

• This position requires travel, up to 30%. Regular visits to all retail vacancy in East Coast portfolio (for example Boston, NYC, DC, Charlotte MSAs)

Education:

• Bachelor’s degree required, MBA preferred

Experience:

• At least 5-7 years of experience required, preferably with internal leasing team at institutional Landlord

• Candidate to provide deal sheet illustrating broker and tenant relationships

Knowledge, Skills and Abilities:

• Thorough understanding of retail leasing transactions

• Experience working with lawyers and lease negotiations; proven transaction record

• Thorough understanding of retail lease terms including financial, legal, operational, construction, risk management, and asset management

• Basic understanding of real estate finance and asset management

• Excellent communication and organization skills. A team player

• Demonstrates negotiation skills. A dealmaker

• Strong ability to thoroughly analyze retail real estate markets, develop leasing strategies, and underwrite economic expectations

• Strong communication, sales and time management skills

• Demonstrates collaboration skills

How AvalonBay Supports You

Additional Info

AvalonBay is proud to be an equal opportunity employer and is committed to an inclusive and diverse work environment free of discrimination and harassment.  We believe that in order to achieve our purpose of creating a better way to live, we must recruit, develop and retain associates with a wide range of backgrounds, experiences and perspectives and create an environment that encourages all voices to be heard, understood and appreciated. With this we know we can do great things.

AvalonBay makes employment decisions without regard to a person’s race, ethnicity, color, religion, sex, national origin, sexual orientation, gender identity, pregnancy (including childbirth, lactation or related medical conditions), age, physical or mental disability, genetic information (including characteristics or testing), citizenship status, military or veteran status, or any other status protected by the law.

For California residents, if you elect to apply to AvalonBay you accept the AvalonBay California Personnel Privacy Notice (https://www.avaloncommunities.com/california-personnel-privacy-notice/)

Job ID JR102473