Senior Asset-Development Manager
EASTGROUP PROPERTIES
Orlando, FL
EastGroup Properties has an opportunity for a Senior Asset-Development Manager. This role will be responsible for helping to source, underwrite, and execute industrial development and redevelopment projects as well as the operational oversight of a portfolio of industrial properties throughout Florida. This role focuses on enhancing and protecting asset value, achieving investment/development objectives, and overseeing all aspects of leasing and property management. The position is based in Orlando, Florida.
- Manage new development and redevelopment projects within the industrial portfolio, from conception through completion.
- Monitor development project budgets, timelines, and construction progress, ensuring alignment with financial goals and investment strategies.
- Evaluate the local markets to identify changes and trends and the related impact on real estate values and investment strategies.
- Assist in preparation of underwriting new acquisitions, reviewing and analyzing data during the due diligence process, and coordinating third party review of property related information.
- Aid in the preparation and presentation of investment committee memorandums related to potential acquisitions, as well as future development projects.
- 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.
- Work with existing broker network to target potential acquisitions.
- Maximize total return for each asset through the analysis of property efficiencies and identifying opportunities for improved performance.
- Manage a team of Property Managers (in-house or third party) to achieve or exceed Company operational objectives including tenant satisfaction and asset profitability.
- Preparation of budgets, leasing plans, and capital expenditures programs for review by Senior Management.
- Actively participate in the negotiations on new leases and renewals.
- Negotiate third party contracts and oversee implementation of capital improvement and ‘value-add' programs within the portfolio.
- Perform valuations of each asset on a quarterly basis, working with Senior Vice President, to develop and implement strategic business plans for each asset that will govern its daily operations, position in the market, and ultimate disposition.
- Manage capital improvement strategies and processes, including oversight of the construction management activities.
- Bachelor’s degree in business, real estate, economics, or related field; advanced degree a plus.
- Significant relative work experience in commercial real estate, preferably in the industrial sector.
- Prior development experience is a plus.
- Strong financial analysis skills with experience in property valuation and investment strategy.
- Proficiency in Microsoft Office Suite and property management software (preferably Yardi).
- Ability to interpret and analyze leases, contracts, and financial reports.
- Strong communication skills (verbal & written) with the ability to present reports and strategies to senior leadership.
- Excellent negotiation and problem-solving abilities to drive leasing and asset optimization efforts.
- Detail-oriented with strong organizational and project management skills.
- Strong interpersonal and customer service skills with the ability to maintain effective business relationships.
Working Conditions
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.
EASTGROUP PROPERTIES is an EEO employer - M/F/Vets/Disabled
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