Assoc Dir, Commercial Leasing & Asset Mgmt at Harvard University in Cambridge, MA
Job Summary The mission of Harvard Real Estate (HRE) is to provide exemplary real estate stewardship, strategy, and services to the University, including leasing, space planning, acquisitions/dispositions, property management, asset management, due diligence, and real estate advisory services. HRE is directly responsible for the stewardship of approximately 100 diverse buildings with 4M square feet in Boston, Allston, Southborough, Shrewsbury and Kittery, ME. In addition, HRE provides office/retaillease management for an additional 600,000 square feet of privately leased space and oversees 40 acres of undeveloped land. HRE also provides specialized real estate advisory services, primarily in the realm of leasing and space planning to support and complement real estate activities undertaken by other Harvard businesses and schools. Harvard Real Estate is a part of Harvard University Campus Services. The Associate Director for Commercial Leasing and Asset Management (Assoc. Director) is responsible for maximizing vibrancy, occupancy, and income in the HRE commercial real estate portfolio and for analyzing long-term performance trends for all HRE multi-tenanted and commercial buildings. These efforts will enhance HRE's ability to meet the University's goal to support vibrant campus neighborhoods, strong financial stewardship, cutting-edge sustainability measures, and flexibility to meet future university needs. The Assoc. Director reports to the Managing Director for Harvard Real Estate. This position is currently responsible for managing a leasing analyst and is also supported by a Department Administrator and Senior CAD Specialist. Job-Specific Responsibilities Serves as the day-to-day HRE representative for all negotiations with new commercial tenants and with owner and tenant real estate brokers on behalf of University tenants seeking private space. Maintains strong relationships with the brokerage community to field, vet, summarize and present new opportunities to University-affiliated stakeholders in collaboration with the Assistant Director - University Leasing and Systems. Works with the Assistant Directors of Operations and Property Managers on existing tenant lease renewals, as appropriate. Engages in direct negotiations with new tenants and works through brokers to create new tenancies that best suit the University's needs. Serves as primary commercial tenant relationship manager from marketing/prospecting through LOI and lease negotiations, and into landlord delivery and tenant fit-out, in collaboration with the Assistant Directors of Operations and Manager of Facilities Operations. Effectively transitions the relationship to the Assistant Director for Operations and the Operations team at initial occupancy. Oversees and supports lease abstracting for all commercial tenants. Ensures billing and lease abstracts are accurately input in Yardi and other MIS systems by the HRE leasing analyst and other team members. Tracks market trends and biannually benchmarks HRE tenancy terms against the market. Forecasts opportunities to enhance revenue and creates plans to improve vibrancy, occupancy, and revenue where appropriate. Recommends appropriate opportunities to sacrifice maximum revenue to enhance the vibrancy and character of campus neighborhoods. Collaborates with various university planners to create shared plans for meeting dynamic goals in asset and neighborhood utilization. In collaboration with the Assistant Directors of Operations and with the Assistant Director - University Leasing and Systems, assesses portfolio performance. Presents data trends and insights to the Managing Director and other stakeholders that highlight opportunities for improved building performance, sustainability, tenant selection, long-term capital strategy and asset positioning. Prepares and maintains annual revenue projections for commercial portfolio properties. Leads HRE's new client-based lease administration efforts on behalf of schools and units. Leads HRE's accounts receivable strategies, in partnership with Campus Services Financial partners and HRE Assistant Directors of Operations. Facilitates conversations with tenants to address challenges. Contributes to document management practices that organize key tenant relations and market intelligence information. Other duties as assigned. Basic Qualifications Bachelor's degree and minimum of ten years of experience in real estate, law, urban planning or large nonprofit operations or business administration required, five years of which must be in progressively responsible roles focused on commercial real estate leasing or asset management. Additional Qualifications and Skills Demonstrated skills and experience managing multiple dynamic priorities with varied stakeholders is required. Understanding core real estate negotiation fundamentals is a necessary skill. Ability to translate and differentiate distinct drives across multiple real estate product types is critical to success, whether through direct experience or transferable skills. Demonstrated experience leading negotiations without direct authority to sign off on the final deal is a plus. Ideal candidates will appreciate a willingness to explore multiple concepts without prematurely committing to a single choice. This includes exploring multiple execution options, creating scenario plans, and recommending best possible choice. Candidates should possess a keen interest in maintaining ongoing client and professional relationships. The ideal candidate has a desire to communicate collaboratively but be trusted with confidential information. Ability to embrace urgency to execute when an opportunity appears, but also appreciate a desire for patience to explore best outcome in an evolving landscape absent clear opportunities. Job requires facility in MS Office (Word, PowerPoint and Excel), financial analysis, and working knowledge of typical commercial lease terms and legal issues related to real estate transactions. Knowledge of lease management database systems and revenue budgeting are integral to the work. Previous experience working with Yardi and CoStar preferred. Real Estate Salesperson or brokerage license preferred. Ability to listen well, sense of humor, and professionalism are a must. Additional Information The University requires all Harvard community members to be fully vaccinated against COVID-19 and remain up to date with COVID-19 vaccine boosters, as detailed in Harvard's Vaccine & Booster Requirements.Individuals may claim exemption from the vaccine requirement for medical or religious reasons
Salary Range:
$100K -- $150K
Minimum Qualification
Construction & Real EstateEstimated Salary: $20 to $28 per hour based on qualifications.
Salary Range:
$100K -- $150K
Minimum Qualification
Construction & Real EstateEstimated Salary: $20 to $28 per hour based on qualifications.
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