Piedmont Office Realty Trust
Associate - Asset Management
Piedmont Office Realty Trust, Inc. (NYSE: PDM) is a fully integrated and self-managed real estate investment trust (REIT) specializing in the ownership and management of high-quality Class A office buildings located primarily in seven of the largest U.S. office markets, including Atlanta, Boston, Dallas, Minneapolis, New York, Orlando and Washington, D.C. Piedmont is investment-grade rated by both Standard & Poor’s and Moody’s and has limited property level debt.
This role will focus on driving the financial and operational performance for Piedmont’s Atlanta portfolio consisting of 11 Class A office buildings (4.5 MSF). Primary responsibilities will include developing/executing value add strategies, negotiating leases and building relationships with key market participants. Additionally, the Associate will partner with Regional Executive Vice President to underwrite potential acquisitions and new developments.
JOB REQUIREMENTS:
Bachelor’s degree required (finance, accounting or real estate focus preferred)
3-5 years of commercial real estate experience; 2+ years focused on asset management preferred.
Relevant experience in asset management and office lease negotiations; property operations, development or construction experience is a plus.
Effective interpersonal skills, with a proven ability to develop and foster relationships with internal and external key business partners.
Strong organizational skills, sound judgement, along with the ability to manage multiple projects and prioritize work based on established deadlines.
Advanced knowledge of financial analysis (NPV, IRR, lease comparison, ROI, DCF modeling, payback, financial statement analysis, etc.)
Self-starter with meticulous attention to detail and follow-through.
Excellent written and verbal communication skills.
Proficient in Excel, experience with ARGUS Enterprise preferred.
Physical requirements involve sitting to perform general office work at computer, and mobility between departments or office area to facilitate work.
Routine travel is required for the position up to 10% of the time.
Experience in the Atlanta office markets preferred.
JOB RESPONSIBILITIES:
Work alongside Director/Vice President as well as Regional EVP on all Asset Management related functions for 11 core plus assets across the four most active Atlanta Submarkets. Play an integral role in driving value for Atlanta’s portfolio including Galleria on the Park.
Negotiate property-level contracts, including leases, licenses and, where applicable, third-party management and exclusive leasing listing agreements.
Proactively enhance property’s competitiveness; monitor local market conditions, anticipate trends, understand the building’s current and anticipated future occupancy and make recommendations on repositioning the property accordingly when needed.
Prepare Investment Committee recommendations on large lease transactions, redevelopment, and new development activity.
Be an integral member in the design and construction phase for new development, existing building redevelopment as well as adding amenities and retail.
Update Senior Management on leasing efforts, including both new leasing activity for vacant space as well as renewal activity on existing tenants. Work with the Southeast Team and third-party architect to design and construct industry leading spec suites throughout the Atlanta portfolio.
Review and prepare property budgets, including both projected leasing and building capital plans.
Update ARGUS Enterprise models used for ongoing cash flow projections and valuation models.
Identify ‘Value Add’ strategies for properties in the portfolio. Stay up to date on competing buildings including rental rates, concessions, amenities, leasing strategies and repositioning.
Partner with Regional EVP/Capital Markets to underwrite acquisition and development opportunities. Assist in the disposition process for non-core plus projects elsewhere in the portfolio.
Select and direct the transition of the property-level team (property manager, leasing agent, attorneys, and other third-party professionals) after acquisition