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Associate Retail Real Estate North America

Company: WayUp
Location: New York
Posted on: January 27, 2023

Job Description:

We are looking for an Associate to join our NA Retail Real Estate team to support a variety of functions for the North American Free-Standing Stores across all brands, as well as the Field Sales Office portfolios. This position will report to the Director and Manager, Retail Real Estate, but will have exposure to many other departments.
BUSINESS DEVELOPMENT/ PORTFOLIO MANAGEMENT:


  • Assist in the preparation of decks for quarterly REC Meetings, Brand Meetings, and miscellaneous special projects (as instructed by VP Real Estate).
  • Conduct market research/competitor analysis for new and existing retail real estate properties across all ELC brands in North America.
  • Manage storage spaces for free standing stores, review storage agreements and deal with landlord counterparties.
  • Assist in the portfolio management of the Field Sales Office (FSO) locations across North America.
  • Act as point of reference and escalation for Retail Operations for landlord and lease related issues such as store damage, maintenance, disruptions from other tenants and insurance claims. Assess the issues, research the applicable lease clauses, provide answers on rights and responsibilities from the lease, and assist in reaching resolution.
  • Attend regularly planned RDDC, legal, operation and brand meetings.

    FINANCE / LEASE ADMINISTRATION:

    • Partner with Finance to build and analyze new and existing store pro formas to aid leadership with lease actions and market growth decisions.
    • Maintain and analyze financial reporting related to existing store performance.
    • Support RDDC by funding approved new store buildouts and renovations (aka submitting AR templates).
    • Prepare rent estimates as needed throughout the fiscal year and analyze variances from plan or estimates to actual expense, providing explanations to the NA Finance team.
    • Create reports from our database comparing rents, common area maintenance, taxes, marketing, and sales by developer.
    • Assist in co-tenancy monitoring across our portfolio and highlighting any potential kick-out/rent adjustment options.
    • Assist in the reconciliation of landlord accounts, maintenance of sublease payments and management of monthly sales reporting.As needed, update and maintain lease data in the company's lease management tool (IBM Tririga), including setting up new leases and amendments.
    • Assist in preparation of annual rent budgets for assigned brands, using sales forecast, projections of variable rent expenses, estimating lease renewal rents, and projecting rent expenses for new stores.
    • Responsible for the preparation and distribution of monthly sales reports to required landlords, verifying calculations of sales data and factoring in valid exclusions per the lease. Processing any percentage rent due based on the sales, breakpoint, and percent rent factors per the lease.
    • Prepare rent estimates as needed throughout the fiscal year and analyze variances from plan or estimates to actual expense, providing explanations to the NA Finance team.
    • Help to digitize North America's lease related documents, in furtherance of our goal to dramatically reduce the need for on sight paper storage.

      QUALIFICATIONS

      • Minimum Education level: College Degree
      • Minimum Years of Experience: 2
      • Power Point, Excel, Word

        The anticipated base salary range for this position is $59,500 to $89,000. Exact salary depends on several factors such as experience, skills, education, and budget. Salary range may vary based on geographic location. In addition to base salary, this position is eligible for participation in a competitive bonus program with possibility for overachievement based on performance and company results.
        In addition, The Est--e Lauder Companies offers a variety of benefits to eligible employees, including health insurance coverage, wellness and family support programs, life and disability insurance, retirement savings plans, paid leave programs, education-related programs, paid holidays and vacation time, and many others. Many of these benefits are subsidized or fully paid for by the company.
        We are an equal opportunity employer. Minorities, women, veterans, and individuals with disabilities are encouraged to apply. It is Company's policy not to discriminate against any employee or applicant for employment on the basis of race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth and related medical conditions), gender identity or gender expression (including transgender status), sexual orientation, marital status, military service and veteran status, physical or mental disability, protected medical condition as defined by applicable state or local law, genetic information, or any other characteristic protected by applicable federal, state, or local laws and ordinances. The Company will endeavor to provide a reasonable accommodation consistent with the law to otherwise qualified employees and prospective employees with a disability and to employees and prospective employees with needs related to their religious observance or practices. Should you wish to apply for this position or any other position with the Company and you believe you require assistance to complete an application or participate in an interview, please contact USApplicantAccommodations@Estee.com.

Keywords: WayUp, New York , Associate Retail Real Estate North America, Hospitality & Tourism , New York, New York

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