Managing Director of Industrial Development - East Region
REPORTS TO: CEO, East Region
Our Client is a privately owned global real estate investment, development and management firm with a presence in 20 countries and just under $100 billion assets under management. They have 114 developments currently underway around the world, and historically, has developed, redeveloped or acquired 1,205 properties, totaling over 390 million square feet.
Our client is looking for a senior, experienced, and hands-on Managing Director (“MD”) to manage the Company’s activities in the East Region metropolitan area composed of Washington DC, Boston, New York City, and Philadelphia. The MD will be responsible for the implementation and execution of regional development transactions, including coordination and communication with venture partners and will manage the Company’s efforts to identify, process, and close new development transactions; oversee the construction of active projects; and play an active role in the management and disposition of completed developments. The successful candidate will interact and coordinate with each of our Client’s City Heads & CEO, East Region and Research teams gaining consent and approval prior to review by their Investment Committee.
- Identify, originate, execute, lead and manage all aspects of suburban and urban industrial development in the East Region metropolitan market.
- Develop, manage, nurture and collaborate with land owners, brokers, lenders and other deal source networks.
- Maintain productive relationships with architects, attorneys, engineers, government officials, vendors and community partners to originate and execute industrial projects.
- Manage and maintain a pipeline of land for new development.
DUTIES AND RESPONSIBILITIES:
- Takes lead on the day-to-day development processes, including but not limited to land acquisition and entitlements;
- Spends a portion of his time on new-business origination, either in active collaboration with the appropriate City Head or independently but with the City Head’s full knowledge;
- Collaborates with the respective City Head in the deal-making process from beginning through value creation and realization;
- Accountable for oversight, coordination, and management of project design, construction, tenant procurement, public relations, marketing, financing and investor/partner relations and communication for each project/transaction;
- Participates in weekly regional meetings and/or conference calls, which include presentation and status of each pending project/transaction; and
- Attends appropriate industry functions and conferences as a senior representative of the Company.
Note: Position requires extensive/frequent travel to regional and/or project sites, and may include travel to other regions, as required.
Discretion and Independent Judgment:
- Regularly exercises independent judgment and decision-making to resolve day-to-day operational issues.
- Provides significant input into the short-term and long-term regional business strategy.
- Analyzes and recommends solutions to overcome project hurdles and setbacks.
- Knowledge of and involvement in current industrial deal flow in the East Region.
- Ability to creatively solve problems and overcome development challenges in high barrier to entry market.
- Follows procedure and protocol. Focused level of attention and concentration to the tasks at hand.
- Ability to work independently with minimal supervision.
- Ability to perform financial analysis including underwriting, GMP contracting and budgeting.
- Effectiveness of both written and verbal skills. Communicates and/or understands instructions, sells ideas, obtains acceptance and action. Accurately informs supervision and subordinates of important developments.
- Ability to understand and explain economic and accounting information, prepare and manage budgets and make sound long-term investment decisions.
- Demonstrates resourcefulness and independence in carrying out responsibilities and assignments.
- Enables success in both employees and peers through mentoring, coaching and decisive administration.
- Makes systematic use of organizational systems and processes. Takes an organized, logical approach to thinking through issues.
- Regularly exercises independent judgment and decision-making to resolve day-to-day operational issues
- Applies learning to new situations.
SKILLS & ABILITIES:
- Bachelor’s degree or equivalent experience required. MBA or Master’s degree preferred.
- 10+ years of industrial real estate development experience along with knowledge or development best practices.
- Demonstrated ability to create and execute successful projects completed on schedule, on budget and with high quality and significant community impact.
- Strong negotiating and collaboration skills as well as sound political judgment.
- Proficient in Microsoft Office, specifically Excel; knowledge of Timberline and Argus software a plus.