The retail mall sector has sure had its woes over the past few years with the assault of the Internet, which is dramatically changing consumer buying patterns. However, of even greater impact is the financial distress plaguing two of the major anchors, J.C. Penney and Sears.
Green Street Advisors recently reported that 50% of the 1,050 indoor and open-air malls in the U.S. have Sears or Penney’s anchoring the centers. Of that group, nearly 25% are seriously hurting with skyrocketing vacancy rates, and the specter of stores being shuttered as the operators try to cauterize the red ink.
The other concerning issue is that many of the weaker malls are the only game in town for a number of secondary and tertiary markets, and if they hit the demolition bin, the situation will further aggravate the communities’ economic woes.
As the retail sector convenes in Las Vegas for its annual gathering, the Internet, and increasingly the shakeup among the weaker anchors, will surely occupy plenty of conversations around the Roulette table.
COMMERCIAL CLEANING SERVICES
Vice President, Operations
(TRENTON, NJ) Position will be directly responsible for leading commercial cleaning operations, ensuring that service commitments are fully met, and business meets or exceeds budget expectations. With clients located throughout the tri-state area, this position also takes lead in the scheduling of service, training and performance management of staff, and in making decisions in terms of delivering the cleaning services, while supervising a team of Area Operation Managers. Position will also be responsible for managing corporation expenses related to cleaning service delivery, and will be expected to add corporation revenues through the sales of other services to current customers of CCC.
Senior Fund Controller
(KANSAS CITY, KS) Controller will ensure audited financial statements are prepared in accordance with GAAP (current audits include multiple investment funds and operating entities); coordinate the audit process with external auditors; lead the team of accountants in the monthly maintenance of all books and records and preparation of financial statements; research new GAAP accounting issues effectively; lead the establishment of the accounting operations for new acquisitions including analyzing transactions for proper accounting treatment (e.g. acquisitions, sales, loans and joint ventures).
TRANSWESTERN INVESTMENT GROUP
(DALLAS, TX) Position will be responsible for the asset management of a portfolio of properties in the firm’s core, core-plus, and value-add accounts. Properties will be office and multi-family product located throughout the U.S. Additional assets will be added to this position’s portfolio as new investments are originated. Specific duties include developing annual business plans with the goal of maximizing the value of each asset; providing strategy, direction and oversight for leasing and management; and performing economic analysis of all potential lease transactions to verify they are consistent with current market conditions as well as the budget and pro-forma.
GAP INC./GAB BRAND
Senior Analyst, Real Estate, Gap Global
(SAN FRANCISCO, CA) Senior Analyst will develop real estate market plans for specific geographic regions, including recommendations on store closures and potential new store locations. In addition, this individual will provide financial analysis for all real estate activity including lease actions, new stores, downsizes, consolidations etc. Specific duties include partnering with business partners including Real Estate Reps, Gap Field, Construction, Store Planning and Store Design to inform investment recommendation; presenting business case recommendation on all real estate activity to leadership; serving as single point of contact for brand for regional projects; and ensuring real estate decisions are made in accordance with timelines.
Senior Marketing Coordinator
WASHINGTON, DC) The Senior Marketing Coordinator will support Colliers Government Solutions, a successful national practice group representing owners and investors of government-leased properties. Duties include: developing a coordinated marketing effort around an emerging brand image; designing high-quality graphics, proposals and presentations to institutional owners of commercial real estate; maintaining website for a team of senior brokers, to include making website updates and coordinating enhancements with outside vendors; and supporting media relations.
ESSEX PROPERTY TRUST
Revenue Analyst (Apartment Pricing Specialist)
(SAN FRANCISCO, CA) The Revenue Analyst will manage pricing for Essex Properties via the selected software platform. As such, the Revenue Analyst will also be required to be knowledgeable in business processes, procedures, and reporting requirements. Duties include daily review of rate recommendations; leading bi-weekly teleconference calls to review and set new lease/renewal rates; serving as liaison to all departments within Essex to ensure consistent communication between parties regarding issues as well to the selected software platform to process enhancement requests; and assisting in the go-live training for on-site teams.
Investment Analyst, FHA Originations Team
(CHARLOTTE, NC) The Real Estate Analyst position is typically a three-year assignment. Based on business needs, strong performance and mutual agreement, one or two-year extensions may occur. The Origination Analyst opportunity will involve: originations; assisting investment professionals working with brokers and developers in analyzing and securing mortgage loans; performing financial modeling and analysis; tracking and reporting information; and interacting professionally both internally and externally with originators, borrowers and investors.
ROSS STORES, INC.
Director, Real Estate
(DUBLIN, CA) Position will direct the analysis, selection, negotiation, administration and coordination of Ross’ new store Real Estate program, and/or the relocation, replacement, expansion and surplus store programs as assigned by the Regional Vice President of Real Estate, Vice President of Real Estate, and Sr. Vice President of Property Development. Specific duties include negotiating the business points for sites approved by the company as well as lease renewals, store expansions, modifications and surplus store space available for subleases; travel to required market areas to visually inspect and evaluate proposed sites, existing stores and competitors within the trade area; and find multi market store site locations.