Real Estate Manager, Self-Storage Division, Houston

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Position Summary:

 

The Real Estate Manager will hold a critical role in growing the Self-Storage Division in the greater Houston MSA 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.

 

Travel is required for this position and will involve traveling outside the local area with frequent overnight trips.

 

Position Responsibilities:

 

Site Selection

• 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 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 characteristics.
• Research and provide overview of competitive landscape in targeted markets for new self-storage development.
• Assist in market research for new development opportunities and manage third parties who provide market research.
• Prepare investment packages to the Investment Committee and prospective lenders.
• Research available land for new self-storage development opportunities in targeted markets.
• Understand zoning and land use requirements for self-storage 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 team members to create development timeline from permitting through construction completion.

Required Education and Experience:

 

• Bachelor's Degree in a relevant major to include: Real Estate, Business Administration, Accounting, Finance or Economics required.
• 5+ years of relevant experience preferred, including:  real estate acquisitions, dispositions, brokerage site selection.
• Prefer related experience in the Texas market.
• 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 at community events.
• Ability to understand, interpret and analyze financial data; proficiency in financial underwriting.
• High degree of proficiency in MS Office Suite (Word, PowerPoint, Excel).  Proficiency in MS 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.

Equal Opportunity Employer:

 

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, citizenship status (except as otherwise provided for by applicable law) or marital status and any other category protected by applicable law. 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.  If you are an individual with a disability and you need an accommodation or other assistance during the application process, please call our Human Resources department at 864.594.5862.

 

Disclaimer

 

The Company has reviewed this job description to ensure that essential functions and basic duties have been included. It is intended to provide guidelines for job expectations and the employee's ability to perform the position described. It is not intended to be construed as an exhaustive list of all functions, responsibilities, skills and abilities nor is it a contract of employment. Additional functions and requirements may be assigned by supervisors as deemed appropriate.

 

 

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