This position is responsible for the consistently high production of deals leasing space in our regional mall structure. The incumbent will be responsible for top tier properties in the California area, key account relationships, and new development. This role will involve a strong focus on developing new business with strategically targeted retailers looking to scale nationwide.
Simon Property Group has been named Fortune’s Most Admired Real Estate Company seven times in the last decade. This is an opportunity for a seasoned leasing professional to join the #1 real estate company in the world and to make a strong impact on the mall business by developing relationships with key retail tenants as well as identifying and securing new relationships within the Simon portfolio.
The successful candidate’s responsibilities will include, but not be limited to:
Through detailed analysis of existing retailer performance, trade area demand, and demographic customer profile the ideal candidate will create an overall leasing vision for their property and be able to (i) present it to senior management, (ii) engage all internal teams/departments necessary to complete it , and (iii) execute it both on time and on budget.
Possesses strong ability to identify brands in the greater San Francisco and Los Angeles area that have ability to scale both regionally and nationally. The ideal candidate will not only be able to identify these brands but also possess the retail business acumen to make recommendations that leading to portfolio growth and expansion.
Understands both current retail and ecommerce trends across multiple product categories and has a strong sense of where the market is headed so as to best position Simon assets with the highest performing and most relevant retailers.
Sourcing, negotiating and executing both new deals and renewals with national, regional and local retailers.
Develops and implements creative leasing strategies to improve merchandising mix and maximize income at the properties.
Reviews financial statements and references of potential tenants; reviews negotiated lease terms on behalf of SPG for highest return to the Owners, including such items as space, base and percentage rent, term of lease, extra charges, etc; approves or recommends changes (with final approval of SVP or EVP).
Will become an expert on the greater trade area of specific properties and have a clear understanding of market needs for new retailers, potential demand for center expansion as well as opportunities for new development.
Facilitates communication between Leasing, Legal and Construction, to insure that necessary work to execute lease is completed in timely manner; resolves problems as necessary.
Manages the budgeting and forecasting all permanent rental income for assigned centers in an effort to maximize revenue and minimize downtime. Budgets will be presented to SVP/EVP as well as senior management for ultimate approval.
Works hand in hand with other key internal partners to execute the property’s goals and vision including Marketing, Public relations, Branding and Property Management.
MBA a plus though not required
Knowledge of the San Francisco and Los Angeles markets
5+years retail leasing/business development experience
One or more new center (or project) assignments as the lead representative to include responsibilities for development of the proforma, direct interaction with the developer, and merchandising of the center
In-depth knowledge of merchandising mix and retailing
Strong retail business acumen
In-depth knowledge of deal structures and lease terminology
Strong understanding of the retail business including balance sheet, P&L and gross margins