Real estate developers, particularly in major metros, often rely on putting significant projects together with the acquisition of air rights from adjacent buildings that are zoned to build taller than the air that they are using. They then sell those rights to an adjacent or nearby property who can then build a bigger building than allowed by its zoning. I chuckled on Sunday when I read an article reporting on a fight in Chicago where the owner of the Chicago Cubs plans a $300 million renovation of the venerable Wrigley Field and is being fought tooth and nail by adjacent property owners who use their roofs to construct bleacher seats that they sell to fans who watch the Cubs games with a six-pack of Hamm's and dogs with all the fixings. The Wrigley renovation plan involves building new bleacher seats in the park as well as new billboards, both of which will block the view of the rooftop bleachers, and the owners and fans are up-in-arms. Developers now have "roof rights" to address, as if development isn't already a yeoman's task.
Tony LoPinto is the Global Sector Leader of Korn/Ferry International's Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.
Real Estate Analyst
(DALLAS) Hillwood Investment Properties is seeking an individual for an entry level analyst position. Hillwood, a Perot company, is one of the world's premier commercial real estate developers, investors, and advisors of high quality real estate projects. Duties include preparing financial models and underwriting for development, acquisition and disposition of various real estate investments; preparing internal and external investment memoranda and other presentation materials; sourcing and summarizing national market research; organizing and updating market data for internal purposes; and communicating with management, lenders, investors, and partners regarding ongoing project status, variance reporting, and performance metrics.
Vice President - Investment Sales Team
(NEW YORK CITY) The vice president, investment sales team, will develop business and negotiate the selling, leasing, and marketing of commercial real estate properties for clients. Specific duties include securing new and expanded business opportunities through prospecting, networking, relationship building, and selling additional CBRE services to current client base; providing tenants and landlords with pertinent information on leasing availability, current market conditions, and property values; accompanying prospective clients to property sites to discuss property features, leasing rates, and terms; compiling property data for clients, such as tenant surveys, summary reports, maps, status updates, and presentations for listing or tenant representative assignments.
Construction Service Manager
(NEW YORK CITY) Under the direction of the construction services manager II, vice president-construction services or construction services director, this position will be responsible for learning to independently manage, evaluate, and implement construction projects for a portfolio of up to forty (40) residential properties consisting of 98% urban high-rise throughout Manhattan, Brooklyn and Jersey City. Duties include executing ADA and FHA surveys on existing properties and during the acquisition process and completion of scheduled work; learning the process of managing, evaluating, and implementing construction projects for a portfolio of up to forty (40) properties; and working on standard and/or routine construction projects, eventually assuming greater responsibility for more complex and difficult projects.
Vice President, Leasing
(IRVINE, CA} As a residential leasing expert, the vice president of leasing will be responsible for effectively implementing residential leasing and marketing programs that will promote the positive image of the Related luxury brand while leading a team of skilled residential leasing professionals in a designated portfolio of luxury rental buildings. The ideal candidate will have a proven track record of being a team leader who can meet and exceed the goals set forth. This position will provide corporate support and oversight for the marketing and leasing efforts including leading the strategic marketing process, analyzing marketing medium effectiveness, leasing reports, pricing strategies and new marketing ventures as well as establishing annual budgets, compiling asset reports and achieving set leasing goals and objectives.
HILCO REAL ESTATE, LLC
SVP, Sales and Business Development
(NORTHBROOK, IL) Hilco Real Estate has an immediate opening in its Northbrook office for a senior vice president, sales and business development to lead the pursuit of new business in the company's real estate finance group. Duties include creating and executing a detailed and comprehensive business development, marketing and sales strategy and oversee these areas of the company's operations; developing a database of key market segments, business leads and potential borrowers; developing a database of potential referral sources, including realtors, mortgage brokers, and private money lenders; personally market HREF products to borrowers and referral sources; and creating sales/revenue generation metrics and a comprehensive and relevant set of performance reporting.
Legal Counsel, Real Estate
(PHOENIX) Cole Real Estate Investments is a real estate investment company and a sponsor of non-traded, SEC registered REITs investing predominantly in high-quality, freestanding, single-tenant buildings net leased to investment grade and other creditworthy tenants throughout the United States. Reporting to the general counsel, real estate, this position supports the legal needs of the company, with a focus and emphasis on the acquisition, financing, servicing, and disposition of real estate and real-estate backed assets. Responsibilities include negotiating purchase and sale agreements for real estate and real estate backed assets; negotiating loan documents with lenders for acquisition financing; preparing and reviewing various legal instruments and documents such as contracts, leases, confidentiality agreements, consulting agreements and other documents with legal implications; and leading the due diligence efforts in connection with the acquisition and financing of a property, including, without limitation, the review of title and survey, environmental reports, property condition assessments and appraisals.
BRANDYWINE REALTY TRUST
Director of Operations
(RANDOR, PA) Duties include budgeting, forecasting and portfolio management; oversee annual budgeting and quarterly reforecasting processes; overseeing multi-year forecasting/modeling; developing and monitoring operating metric standards; assuming overall responsibility to develop company-wide five (5) year capital plan; managing company vendor program; targeting major vendors for electronic invoices; reducing overall number of invoices per vendor; auditing contract bidding to ensure contracts are being bid in accordance with company policies; developing in consultation with SVP Operations and Task Force specific annual and quarterly goals; overseeing purchasing opportunities in deregulated markets; and monthly reporting.
(BOSTON) NorthMarq Capital is seeking a producer with to join the team in the Boston office, with multi-family and commercial real estate production experience. The position will produce $30 million to $100 million of loan volume annually from all types of financings; providing direction on closing, servicing, and related requirements; originate, underwrite, package, and appraise real estate and prepare investment proposals, with particular emphasis on multi-family business; knowledge of investment standards, criteria, and program requirements, including money availability of institutional investors; and understanding the closing and servicing function of the correspondent system.
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STEADFAST INCOME REIT
(IRVINE, CA) Steadfast Income REIT, Inc. announced that Ella Shaw Neyland assumed the role of president for the public, non-traded multifamily REIT. Neyland remains a member of the board, but tendered her resignation as chairperson of its audit committee, a position required to be held by an independent board member, to assume the new role.
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MARCUS & MILLICHAP CAPITAL CORP.
(CHICAGO) Marcus & Millichap Capital Corporation (MMCC) has named Richard M. Lynn an associate director in the firm's Chicago Oak Brook office. Lynn joins MMCC with more than 20 years of experience in sourcing, underwriting, financing and managing commercial real estate investments. Most recently, he served as president of RML Capital LLC in Northbrook, IL.
(ST. LOUIS) – Colliers International announced that Spencer Toder has joined the local St. Louis office to work in brokerage specializing in corporate facilities and investment services for office, multifamily and industrial properties. Obtaining an MBA from Washington University's Olin School of Business in 2009, Toder has a strong background in entrepreneurial business, marketing and technology endeavors.
(WASHINGTON, DC) HFF announced that Bruce E. Strasburg has joined the firm as a senior managing director in its Washington, DC office. He focuses on industrial and flex/office investment sale transactions in the Mid-Atlantic region. Strasburg joins HFF from CBRE, and prior to that, Trammell Crow.
(LOS ANGELES) TELACU announced that Walter Maynard has joined the firm as the executive vice president of operation for TELACU Property Management and TELACU Residential Management. He was previously the asset manager for the Housing Authority of the City of Los Angeles.
COMPASS COMMERCIAL REAL ESTATE SERVICES
(BEND, OR) Karen Joss, CPM, joins Compass Commercial Real Estate Services as regional property manager. Previously, Ms. Joss was a certified property manager with COLM Commercial, also of Bend.
CUSHMAN & WAKEFIELD
(ATLANTA) Porter Henritze joined the Office Agency Leasing Team of Cushman & Wakefield's Corporate Occupier & Investor Services (CIS) department as a leasing agent, where he focuses on office landlord representation. Before joining Cushman & Wakefield, Henritze was with the Brookdale Group, an Atlanta-based privately held commercial real estate investment company.
SPERRY VAN NESS/BLUESTONE & HOCKLEY
(PORTLAND, OR) Matthew Simpson joined Sperry Van Ness | Bluestone & Hockley as an associate advisor, specializing in the sale and leasing of retail, office, and industrial properties throughout Oregon and southwest Washington. Prior to joining the company, he worked as an advisor with Marcus & Millichap.
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