Director, Real Estate
Job no: 496892
Work type: Staff
Categories: Facilities Management, Full Time
Pay Grade: 35E
Context of the Job:
The Director, Real Estate leads various activities for the Facilities, Real Estate, and Auxiliary Services organization. The Director is responsible for all transactions regarding the acquisition and disposition of university properties. The Director also directly supervises the Rental Housing Coordinator, whose responsibilities are the management of the university’s rental housing program for faculty and staff. The Director is responsible for assisting University departments seeking off campus space via commercial leases and negotiates the transaction as the University’s representative. The Director provides leadership and strategic oversight for the property management staff of three.
The Director manages the Science, Technology & Advanced Research (STAR) Campus, which is a 272-acre multi-tenant university research park that is a repurposed former automobile assembly site. The Director oversees the day-to-day operations of the facilities and infrastructure requirements necessary to support the tenants at the site. The incumbent will need to understand site tenant and prospective tenant needs and works with multi-functional teams to prioritize initiatives to help meet the future requirements of the campus. Under limited direction of the Vice President of Facilities & Real Estate, the Director engages in lease development and execution, tenant interface, execution of Common Area Maintenance (CAM) operations, and the development of accurate budgets and forecasts, consistent with the University’s vision for the STAR Campus.
- Serves as the university’s responsible party for all off campus lease negotiations, including but not limited to locating potential properties, awareness of market availability and rates, and familiarity with lease terms and contracts.
- Responsible for the management of the university’s Rental Housing program.
- Maintains a current database on all university properties, off campus leases, ground leases, acquisitions, and dispositions. Prepares an annual report for the Board of Trustees of the above information.
- Participates in the development of the Strategic Plan for the STAR Campus, ensuring that the operational aspects of the plan align with the University’s vision and Master Plan for the Campus.
- Coordinates with the Planning & Project Delivery (PPD) staff to review the lease requirements for the design efforts, contract delivery strategies and construction to ensure new facilities at STAR are consistent with the University’s design standards, policies, and procedures. Provides leadership to ensure building standards and practices embody sustainable elements consistent with the University’s environmental stewardship goals.
- Responsible for ensuring site infrastructure and common area projects support the strategic growth at the STAR Campus.
- Develops a customer service environment that supports the needs for the tenants, consistent with their lease agreements, while implementing identified best practices for advanced research and technology parks.
- Assigns, coordinates, and directs the work of all Common Area Maintenance (CAM) projects including but not limited to: way finding and signage; site lighting and electrical distribution; landscaping and mowing; snow removal; storm water management; site maintenance and security; environmental remediation.
- Supports the University’s legal department for the preparation, negotiation strategy and execution of all commercial leases where the university is either a Lessor or Lessee.
- Oversees compliance with University policies, regulations, and procedures which relate to construction, construction contracts, and fiscal transactions as well as pertinent Delaware codes, county and municipal laws, federal laws and regulations, underwriters regulations, and such other codes and regulations which apply to facilities design engineering, construction and property management. Collaborate effectively with Delaware Department of Natural Resources and Environmental Control (DNREC), the Delaware Department of Transportation (DelDOT) and the City of Newark in all aspects of the site management.
- Responsible for control and management of the STAR site operating budget, preparation of annual operating budget requests, and monitoring and control of operating expenditures.
- In conjunction with the PPD project manager, oversees the STAR Campus infrastructure and common area construction budgets. Ensures the availability of funds and maintains expenditures within approved budgets. Certifies the satisfactory completion of work performed under contract and determines that expenditures are within the approved design parameters and scope of each project.
- Formulates internal administrative and operational policies, regulations, and procedures and sees to their implementation.
- Coordinates and collaborates with the University of Delaware’s Director of Economic Development in reviewing and addressing potential tenants / developers interested in the STAR Campus.
- Performs miscellaneous job-related duties and services as assigned.
- Bachelor's degree and eight years’ experience in commercial property management, or equivalent combination of education and experience. Degree in Business, Finance, Real Estate Management, Public Administration, or another related field preferred.
- Certified Property Manager (CPM) preferred.
- Property management experience in a research park environment preferred.
- Experience with a Higher Education institution, preferred.
- A Real Estate Broker license preferred.
- Experience in aligning the research park’s strategic and business plans with an overarching Master Plan for the property.
- In depth knowledge in building codes, legal codes, and regulatory requirements related to property management.
- Proven experience with lease negotiations terms, including enhancing the revenue and fees for the University while reducing any associated risk.
- Ability to engage tenants and prospective tenants to understand operational needs and to collaborate with diverse stakeholders.
- Experience with preparing financial plans and projections.
- A history of developing a customer service culture and leading, recruiting, developing, and retaining a high-performing team.
- Effective communication skills (written, presentations, oral and listening).
Notice of Non-Discrimination, Equal Opportunity and Affirmative Action
The University of Delaware does not discriminate against any person on the basis of race, color, national origin, sex, gender identity or expression, sexual orientation, genetic information, marital status, disability, religion, age, veteran status or any other characteristic protected by applicable law in its employment, educational programs and activities, admissions policies, and scholarship and loan programs as required by Title IX of the Educational Amendments of 1972, the Americans with Disabilities Act of 1990, Section 504 of the Rehabilitation Act of 1973, Title VII of the Civil Rights Act of 1964, and other applicable statutes and University policies. The University of Delaware also prohibits unlawful harassment including sexual harassment and sexual violence.
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