State: VA
City: Arlington
Zip Code: 22203

Overview

AvalonBay Communities, Inc., an equity REIT, has a long-term track record of developing, redeveloping, acquiring and managing distinctive apartment homes in some of the best U.S. markets, and delivering outsized, risk-adjusted returns to shareholders. With equal parts experience and vision, we’ve established a leadership position rooted in our purpose of creating a better way to live and that is always focused on building value for the long term.

Creating a better way to live is the purpose that binds AvalonBay associates. We take that purpose seriously and expect you will as well. By focusing on collaboration, innovation, and taking ownership of our choices and actions, we act in ways that focus on creating value for our customers, investors and associates. Your positive, professional, and consistent personal interactions make AvalonBay a great place to work.

The Role

This position is well-suited for someone with extensive retail leasing experience at an institutional landlord, who is eager to expand their expertise in asset and investment management.Manage 3rd party brokers including discussion of prospects, deal terms, merchandizing and conceptsAnalyze financial impact/feasibility of economics and other business terms for potential commercial tenantsLead LOI negotiations from initial draft through final executed versionPrepare and present deal packages to seek approval to advance to lease, including final LOI, financials with executive summary, deal summary analysis including pro formaComplete annual budgeting and quarterly reforecasting for development and operating communities, including market vs in-place analysis, market supply and demand dynamics informing downtime and re-leasing assumptions, capital requirementsNegotiate leases with prospective retail tenants including coordination with internal and external counsel as well as internal departments, as relevant (Risk Management, Residential Services, Construction, Asset Management, etc)Maintain strong tenant and broker relationshipsAbility to initiate and close some direct dealsPrepare and present portfolio reviews with preferred existing tenants to expand relationships to multiple locationsWork closely with in-house Tenant Construction team to explore optionality and best practices as it relates to Landlord Work and/or Tenant Improvements. Leverage in-house capabilities to drive dealmaking and achieve highest and best resultsIn partnership with Tenant Construction, continue tenant relationship and any follow-up required from lease execution through store openingDevelop leasing strategies and objectives for both development and operating properties with retailNegotiate amendments/renewals for existing retail tenants, particularly with economic impactDevelop (re-)positioning and marketing strategies for challenging commercial spaceAttend ICSC and other industry eventsThis position requires travel, up to 30%. Regular visits to all retail vacancy in East Coast portfolio (for example Boston, NYC, DC, Charlotte MSAs)Education:Bachelor’s degree required, MBA preferredExperience:At least 5-7 years of experience required, preferably with internal leasing team at institutional LandlordCandidate to provide deal sheet illustrating broker and tenant relationshipsKnowledge, Skills and Abilities:Thorough understanding of retail leasing transactionsExperience working with lawyers and lease negotiations; proven transaction recordThorough understanding of retail lease terms including financial, legal, operational, construction, risk management, and asset managementBasic understanding of real estate finance and asset managementExcellent communication and organization skills. A team playerDemonstrates negotiation skills. A dealmakerStrong ability to thoroughly analyze retail real estate markets, develop leasing strategies, and underwrite economic expectationsStrong communication, sales and time management skillsDemonstrates collaboration skills

How AvalonBay Supports You

We know that our teams are the beating heart of our success and we’re committed to showing our appreciation.

We offer:

Comprehensive benefits — health, dental and vision, 401(k) with company match, paid vacation and holidays, tuition reimbursement, an employee stock purchase plan and more. Click on Benefits (https://jobs.avalonbay.com/benefits) for information.

Growth based on achievement and promotion from within.

Associate recognition (a company-wide recognition program that celebrates associate efforts and successes in contributing to the overall success of the organization – including destination awards, ‘AvalonBay’s Very Best’ recognition program and others!).

A 20% discount on our incredible apartment homes.

A culture built on purpose and our core values - A Commitment to Integrity, A Spirit of Caring, and A Focus on Continuous Improvement.

Additional Info

AvalonBay is proud to be an equal opportunity employer and is committed to an inclusive and diverse work environment free of discrimination and harassment.  We believe that in order to achieve our purpose of creating a better way to live, we must recruit, develop and retain associates with a wide range of backgrounds, experiences and perspectives and create an environment that encourages all voices to be heard, understood and appreciated. With this we know we can do great things.

AvalonBay makes employment decisions without regard to a person’s race, ethnicity, color, religion, sex, national origin, sexual orientation, gender identity, pregnancy (including childbirth, lactation or related medical conditions), age, physical or mental disability, genetic information (including characteristics or testing), citizenship status, military or veteran status, or any other status protected by the law.

For California residents, if you elect to apply to AvalonBay you accept the AvalonBay California Personnel Privacy Notice (https://www.avaloncommunities.com/california-personnel-privacy-notice/)

Job ID JR102473