Federal Realty Investment Trust

Property Manager

Federal Realty Investment Trust$135K — $155K *
Real Estate & Construction
5 - 7 years of experience
Job Overview by Ladders

Qualifications

  • Minimum of 5 years' experience in property management, preferably in retail.
  • Bachelor's Degree or equivalent experience required.
  • Proficient in MS Office software.
  • Experience in budgeting and financial reporting, including accounts payable and expense monitoring.
  • Direct negotiation skills for maintenance projects and service contracts.
  • Strong communication skills with a customer-focused approach.
  • Excellent organizational and time management skills.
  • Logical problem-solving capabilities with data analysis.

Responsibilities

  • Act as the main contact for merchants regarding daily needs like maintenance and utilities.
  • Oversee service providers for the shopping center's operational requirements, ensuring quality standards are met.
  • Lead the on-site property operations team to uphold operational procedures and standards.
  • Formulate proactive strategies to address operational and compliance issues.
  • Build strong tenant relationships and gather market insights from tenants.
  • Conduct regular property inspections to evaluate condition and compliance.
  • Draft and manage the annual operating budget and monitor expenses for compliance and efficiency.
  • Coordinate capital improvement projects, including bidding and execution processes.
  • Submit routine reports such as inspections and budget variances efficiently.
  • Collaborate with Project Managers to facilitate tenant openings and space deliveries.
  • Tackle significant performance issues; propose enhancements and solutions.
  • Manage accounts receivable and payable effectively, ensuring timely processes.
  • Maintain a vendor insurance tracking system.
  • Complete special projects and other assigned tasks.

Benefits

  • Comprehensive healthcare coverage.
  • Retirement savings plan with company match.
  • Paid vacation and holidays.
  • Professional development opportunities
  • Flexible working hours.
  • Employee discounts at tenant locations.
Full Job Description
Overview

We are currently seeking a Property Manager, who will be based in La Mesa, California, and will manage the operations of Grossmont Center and Escondido Promenade. The ideal candidate will have experience in retail property operations and will utilize their experience to implement policies/procedures, set up controls and best practices. The Property Manager will partner with the financial and strategic directors of the region to be able to enhance the property’s value creation. The candidate must have experience that will enable them to be influential in the areas of operations, tenant relations, security, procurement, contract management and risk management in order to achieve maximum productivity and profitability while maintaining the highest level of corporate standards. This person will have the highest level of personal integrity, intelligence and broad thinking characteristics to succeed.

Responsibilities
  • Serve as the primary point of contract for all merchant’s daily operating needs including general maintenance, tenant utilities, trash and parking management and respond in a timely manner.
  • Manage service providers responsible for the day-to-day operational needs of the shopping center including repair and maintenance, landscaping, housekeeping, waste removal, security, etc., ensuring that property standards are maintained.
  • Supervise on-site property operations team while developing and maintaining operational standards and procedures.
  • Develop and implement proactive strategies to resolve property operational and compliance-related challenges.
  • Develop and maintain positive tenant relations. Obtain tenant intel on sales and market comps.
  • Perform regular site inspections to assess physical property condition, compliance and overall administration.
  • Develop and review annual property operating budgets, monitor all purchases and expenses to ensure cost effectiveness and compliance with budget parameters, prepare monthly variance reports and quarterly budget reforecast reports. Manage all controllable expenses within budget without compromising the portfolio’s integrity.
  • Create and maintain capital improvement plans while coordinating the specification, bidding, and execution of major maintenance projects and service agreements.
  • Submit all routine reports including activity reports, variance reports, property inspections, roof inspections and lighting reports in a timely manner.
  • Work cooperatively with Project Managers in Tenant Coordination to expedite the completion of Landlord work, delivery of spaces to tenants and the opening of tenants for business.
  • Identify the significant issues affecting the property's performance. Implement programs or make recommendations to correct problems and enhance positive aspects of the property.
  • Assist with performing A/R management via phone contacts, in person meetings and collections. Review and report status.
  • Process all payables associated with assigned portfolio in timely manner.
  • Develop and maintain a system for tracking vendor insurance certificates.
  • Complete other various special projects and duties as assigned.
Qualifications
  • Must have a minimum of 5 years’ prior property management experience; experience managing retail shopping centers is preferred
  • Bachelor's Degree required or equivalent experience
  • Excellent computer skills with proficiency in MS Office software
  • Demonstrated experience budgeting, monitoring expenses, preparing monthly management and financial reports, and processing accounts payable
  • Previous direct responsibility for negotiating and monitoring maintenance projects and service contracts
  • Excellent communication skills and customer focus
  • Well organized with excellent time management skills
  • Demonstrated ability to apply principles of logical thinking to define problems, collect pertinent data, establish facts, draw valid conclusions and initiate appropriate course of action
  • Ability to perform essential on-site property inspections, including walking or standing for extended periods, with reasonable accommodations as needed

Salary Range: The typical total cash compensation range for this role is $135,000–$155,000 per year, inclusive of base salary and any applicable bonus. To ensure a fair and competitive offer, we take into account your job-related skills, experience, relevant trainings, and certifications.

 

About Federal Realty Investment Trust

Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida. The trust owns a portfolio of retail and mixed-use properties, including grocery-anchored centers, street retail, and urban mixed-use. The company was founded in 1962 and is headquartered in Rockville, Maryland. Federal Realty Investment Trust is a member of the S&P 500 index.
Learn more about Federal Realty Investment Trust
Size
310 employees
Market Cap
$8.2 billion
Industry
Net Income
$131.7 million
5 Year Trend
+3.5%
Revenue
$835.4 million
NASDAQ

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