Asset Management Associate
EastGroup Properties has an opportunity for an Asset Management Associate in Atlanta, GA. This role will support the operational management of a portfolio of industrial properties. This role will work closely with senior leadership, property managers, and leasing teams to help optimize asset performance and contribute to investment growth strategies.
Summary of Job Duties
- Maintain an understanding of market conditions for the assigned portfolio, with regular trips to designated markets.
- Assist in monitoring and optimizing asset performance, including financial analysis and property operations.
- Manage a team of Property Managers (in-house or third party) to achieve or exceed Company operational objectives including tenant satisfaction and asset profitability.
- Tour all vacant spaces and make sure they are in a marketable condition.
- Tour any spaces related to in-process (or upcoming) construction upgrades.
- Assist with lease negotiations (new and renewal) with EastGroup’s third-party leasing representatives.
- Support leasing efforts by tracking lease expirations, monitoring tenant negotiations, and preparing lease summaries.
- Maintain financial results (budget and same store sales) for each market.
- Work with senior management to implement capital improvement programs and property enhancement initiatives.
- Assist in tracking construction progress, budgets, and timelines for development and renovation projects.
- Help coordinate third-party contractors, vendors, and consultants for maintenance and improvement projects.
- Assist with underwriting potential acquisitions, including capitalization rate evaluation, risk and return analysis.
- Assist with any due diligence activities related to the acquisition and disposition of any properties.
- Build relationships with brokers in assigned markets to stay informed on upcoming market and potential “off-market” acquisition opportunities. This includes attending Commercial Real Estate events in markets typically hosted by NAIOP, SIOR, NATCAR, etc.
- Help prepare investment committee memorandums related to potential acquisitions, as well as future development projects.
- Bachelor’s degree in business, real estate, economics, or related field; advanced degree a plus.
- 3+ years’ relevant experience, preferably in commercial real estate.
- Solid understanding of financial terms and principles, with ability to conduct complex financial analysis.
- Excellent communication and interpersonal skills to interact with tenants, brokers, and internal teams.
- Strong organizational skills with attention to detail.
- Proficient with all Microsoft applications and experience with property management software, preferably Yardi.
Some travel will be required for property visits and select acquisition due diligence. Property visits may include tours of properties under development or in some phase of construction.
EastGroup Properties is an Equal Opportunity Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law.