Real Estate Manager, Self-Storage Division
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The Self-Storage Division of Johnson Development Associates, Inc (JDA) is recruiting a Real Estate Manager, who will report to the President of the Self-Storage Division. The Real Estate Manager will hold a critical role in growing the Self-Storage Division in target markets across the Southeast by partnering with the real estate, development and other internal teams to identify and underwrite ground-up self-storage development and acquisition investment opportunities. The Real Estate Manager will be responsible for site selection, market due diligence, underwriting, contract negotiation and entitlement support for new self-storage developments.
The position will be located in JDA’s corporate headquarters in Spartanburg, South Carolina. Travel is required for this position and will involve travel outside the local area and frequent overnight trips.
• Create and maintain relationships with real estate brokers and other external partners to identify investment opportunities.
• Tour prospective markets to evaluate competition and prepare market analysis report for management.
• Perform specific studies and financial analyses aimed at identifying and prioritizing target sub-markets and properties to acquire or develop.
• Coordinate with internal development resources to evaluate site feasibility and estimated development costs.
• Draft and negotiate letters of intent and purchase and sale agreements for sites in target markets.
• Meet with local officials and coordinate with internal team members to understand entitlement and permitting process for specific sites.
Market Due Diligence and Underwriting
• Underwrite new investment opportunities including economic and demographic data, market comparables and local supply and demand statistics.
• Research and provide overview of competitive landscape in targeted markets for new self-storage developments.
• Assist in market research for new development opportunities and manage third parties who provide market research.
• Prepare and present investment packages to the Investment Committee and prospective lenders.
• Research available land and/or buildings for new self-storage development opportunities in targeted markets.
• Understand zoning and land use requirements for self-storage/mini warehouse development in target development markets.
• Track sales and manage information on sales comparables of self-storage sales throughout target markets.
• Engage development team on projects to obtain construction pricing estimates and general site analysis.
• Develop and maintain pro formas for new self-storage opportunities through the life cycle of the project.
• Coordinate with Development Managers to create development timeline from permitting through construction completion.
Skills and Experience
• Bachelor's Degree in a relevant major to include: Business Administration, Accounting, Finance or Economics required
• 5+ years of relevant experience preferred, including: real estate acquisitions, asset management, construction management/budgeting, operations or finance
• Prefer related experience in the Southeast United States
• Development and/or real estate cash flow modeling experience
• Demonstrated contract negotiation experience
• Strong presentation skills and ability to speak with city leaders and community members and at community events
• Ability to understand, interpret and analyze financial data; proficiency in financial underwriting
• High degree of proficiency in Microsoft Office Suite (Word, PowerPoint, Excel); proficiency in Microsoft Project (although not required) is a plus.
• Detail-oriented and organized
• Knowledge and understanding of development and construction practices
• Ability to think strategically and embody a high level of individual initiative
• Effective verbal and written communication skills
• Ability to thrive in a fast-paced, non-structured work environment; must be able to self-direct work initiatives and solve problems autonomously
• Represent Johnson Development Associates, Inc. in a positive and professional manner
• Maintain a high regard of confidentiality for company information
This description has been designed to indicate the general nature and level of work performed by an employee within this position. The actual duties, responsibilities, and qualifications may vary based on assignment and needs of JDA.
Equal Employment Opportunity Statement
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The Company is committed to diversity and equal opportunity employment. The Company does not discriminate on the basis of race, creed, color, ethnicity, national origin, religion, sex, pregnancy (including medical needs due to pregnancy, child birth or related medical conditions), sexual orientation, gender identity and expression, age, disability, genetic information, veteran status, military obligations, or marital status. This policy applies to all areas of employment, including employment status and opportunities such as hiring, internal promotions, training, opportunities for advancement, and termination and applies to all Company employees and applicants.