This position is responsible for the consistently high production of deals in leasing space in new and existing regional malls. The incumbent will be based out of the New York Office and will lease dynamic properties with large scale renovation projects and great demographics. Simon Property Group has been named Fortune’s Most Admired Real Estate Company 7 times in the last decade. This is a resume-building opportunity to work with the #1 real estate developer in the world and one of the best leasing teams in the country.
The successful candidate’s responsibilities will include, but not be limited to: Cultivates new and maintains existing relationships with desirable prospective tenants, including national retailers; sells them on the advantages of being located in a Simon Property Group (SPG) center; responds to inquiries from interested retailers. Leases new space; develops and executes creative and aggressive leasing strategies which may include re-tenanting, renewals, early renewals, buy-outs, re-locations, new tenants and “packaging”. Qualifies potential tenants by reviewing their financial statements and checking references; negotiates terms of lease on behalf of SPG for highest return to the Owners; including such items as space, basic and percentage rent, term of lease, extra charges, construction allowances, etc; reviews with immediate supervisor and obtains approval of next level management. Communicates and coordinates with Legal department to have documentations prepared incorporating the terms agreed upon and appropriate to the specific property; initiates preparation of tenant space; notifies construction department to send shell drawings and Construction guidelines to tenant. Canvasses the market to identify potential tenants; visits existing retail facilities in the center’s community and neighboring communities at local shopping centers, central business districts and suburban retail areas; contacts retailers by phone or in person to obtain additional information and assess the level of interest on the part of the retailer and SPG in leasing space; reviews industry publications to identify potential national and regional tenants and industry trends. Evaluates retailers for their desirability as tenant in a specific SPG center; evaluates general merchandise and brands carried, price points, level of service offered, store design and general store appearance; maintains records of potential tenants for future reference; assists Mall Managers in existing centers in the identification of desirable retailers to fill vacant spaces. Develop leasing plans for new centers; reviews center performance and consults with the appropriate VP, Development to determine required rent per square foot; consults with Property Management for an estimate of CAM charges and taxes, and with Energy Engineering for central system charges; review market research and consults with Research Department to determine market characteristics, existing retail in the area, and the type of tenant desired or recommended; identifies desirable space location for tenants in each category throughout the center based on planned merchandise mix and traffic flow. Attends leasing conventions and other industry events in order to represent SPG and its properties: creates interest in SPG properties and shares information on new and exiting developments with interested parties canvasses for potential tenants; exchanges information on industry trends Supervises other Leasing Representatives or Associates, as appropriate; interviews and hires; assigns and reviews work; provides leadership and guidance; conducts performance reviews and recommends salary adjustments. Maintains up-to-date knowledge of retail industry and trends; seeks to learn latest information of retail industry, merchandise and tenants; through trade journals, conventions, newspapers, & personal contacts. Communicates with and reports to partners, lenders, and others as applicable, the status of leasing activity, as needed. Prepares annual budgets and bi-monthly forecasts, on center by basis for review and approval by senior management.
Bachelor’s Degree 8+ years retail leasing/selling experience; In-depth knowledge of merchandising; In-depth knowledge of deal structures and lease terminology; Excellent negotiation and closing skills; Excellent interpersonal skills; Excellent oral and written communication skills Well established relationships with national chains in which Simon Property Group does business. Team Building: Demonstrated ability to work independently and as part of a team within a fast-paced environment. Presentation Skills: Is effective in a variety of formal presentation settings; commands attention and has executive presence/impact. Drive For Results: has confidence in abilities and can be counted on to exceed goals successfully.