Massachusetts-based WS Development is a mixed-use developer with a singular mission: creating places people want to be. With an approach that values art, science, innovation and, above all else, people, WS strives to engage each community it serves with best-in-class installations and activations. Established in 1990, WS is a vertically-integrated company that conceptualizes, owns, operates and leases more than 100 properties that range from cutting-edge urban spaces to lifestyle and community centers. With over 22 million square feet of existing space and an additional nine million square feet under development, it is one of the largest privately-owned development firms in the country.
This position requires an organized, detailed-oriented person, with strong computer and business writing skills and an ability to work autonomously. Responsibilities include various aspects of lease compliance and analysis including: inputting an expansive amount of legal documentation, reading and abstracting shopping center retail, office & storage leases and other lease documentation into data base system, monitoring and calculating critical lease dates and preparing tenant rent letters, and as needed, lease analysis.
Responsibilities:
- Abstract and input documents such as leases, license agreements, amendments, assignments, terminations, chattel lien waivers, etc. into the company real estate software (MRI)
- Audits and finalizes abstracting work done in MRI by outside vendor prior to commencement with projected dates. Identifies any issues for follow up.
- Monitors critical dates and collaborates with cross functional team members on projected and actual delivery, plan approvals, permit dates and other pertinent lease construction dates related to rent commencement. Update MRI with applicable information.
- Calculate new tenants rent commencement date and charges; generate welcome letter for the same; analyze co-tenancy provisions if applicable; collaborate with cross functional team to confirm if penalty rent charges and/or tenant coordination fees apply for new leases.
- Responsible for setting up payment schedule in AVID, review and confirm that any Tenant request for payment has all requirements met per lease.
- Work with cross functional team and tenant to ensure payments are made accurately and timely.
- Update MRI with on-going tenant lease status information such as : co-tenancy status, store closings, change of address/contacts/email, lease renewal status, issues, etc.
- As requested, field and research questions from Company employees regarding tenant and/or landlord rights per the tenant’s lease.
- Prepare property reports, including rent rolls, Profile reports, for management, lenders and/or the Partners with pertinent lease information based on the information in MRI.
- Enter Common Area Maintenance (C.A.M.) and Real Estate Tax (R.E.T.) increases/decreases for each property once received from Property Accountant.
- Responsible to do the review of MRI data prior to generating report in salesforce to ensure all lease terms are up to date with current process.
- Reviews preliminary list of defaults to identify issues, confirms MRI has proper legal notice address by reviewing tenants lease file, generate hard copy default notices and sends out via fedex or certified to the tenants.
- Works as part of a team to review documentation provided by seller and assess best methods (direct entry or uploading) to timely and accurately entered lease dates/dollars and terms, tenant contact information into MRI system prior to acquisition closing date
- Review all pending charges and confirm accurate, trouble shoot as needed, revise dates for new leases if needed, all to ensure monthly charges are accurate when posted into the financials.
