Associate, Commercial Development
Coordinates/supports all aspects of design, financing and development of assigned Grubb Properties commercial development projects.
May be responsible for one or more of the following:
• Assisting in the selection/evaluation of sites for commercial development to include market analysis and test fits.
• Managing the design process from inception through construction development taking into consideration use/mixed-use, total rentable square footage, core factor, amenity space, and exterior building materials.
• Oversees/supports the preparation of pro forma financial models and analysis in Excel and/or Technosun software for real estate development opportunities.
• Gathering and analyzing market information including sales and rent comparables, replacement costs, supply/demand fundamentals, capitalization rates, and other underwriting assumptions.
• Assisting in the preparation of real estate transaction presentations, packages, and analyses for the transaction team, the internal investment committee, investors, partners and lenders.
• Management/support evaluating all aspects of due diligence for new development opportunities, including obtaining third-party reports, performing rent and expense analyses and market comparable studies, and reviewing any due diligence materials received from the seller.
• Coordinating entitlement processes; including meetings with municipality officials and conducting community outreach.
• Supporting the Investment and Finance Division in the placement of debt financing for new development opportunities.
• Supporting the Commercial Division with respect to commercial leasing, including lease underwriting analysis, management of third-party brokers, and evaluation/negotiation of commercial leases.
• Coordinating the services of project management, property management, leasing, and accounting to successfully integrate the assets with the existing portfolio, including providing those teams with appropriate information and documentation and preparing asset business plans and strategies.
• Supporting transaction closings, including coordinating legal document preparation and execution, reviewing closing statements, and coordinating closing funds.
• Remaining up-to-date with current market data, trends, and industry news.
• Remaining involved with the new development projects from inception through the completion of the after action review.
• Understands competitors’ strengths and weaknesses and displays the ability to effectively articulate Grubb’s competitive advantage.
• Bachelor’s degree required
• 2+ years of experience with complex financial modeling or MBA preferred.
• Strong skills in Excel and financial modeling.
• Exceptional quantitative and analytical skills with an ability to understand how the parts fit into the larger picture.
• Exceptional oral and written communications and interpersonal skills.
• Detail-orientation, excellent organizational skills and a strong sense of urgency.
• Positive attitude, integrity and reliability.
• Proactive, solution-oriented mindset with a focus on task management and completion.
• Ability to work in a fast-paced environment, handle multiple concurrent large-scale projects with moderate supervision, and work both independently and collaboratively.
Physical Demands/Environmental Factors:
• Works in office setting, travels to off-site meetings, and/or development/acquisition sites.
• Works under moderate supervision.
• Needs own transportation to meetings; valid driver’s license.
• Requires work in evenings and on weekends.