Position Summary
Outstanding opportunity to join a well-established and respected New England based, industrial real estate owner, investor, developer known for maximizing investments and focused on acquiring and developing industrial properties in Massachusetts, New Hampshire, and Maine.
The SVP of Acquisitions & Development will be responsible for managing all aspects of the acquisitions and development for a growing portfolio. Acquisition responsibilities will include sourcing, evaluating, analyzing new properties and development opportunities, structuring transactions, managing due diligence and bringing transactions to completion. Financing responsibilities will include sourcing, evaluating and closing financing for new acquisitions. Asset management and Development responsibilities include transitioning new properties into the portfolio for in-house property management, in addition to overseeing leasing and coordinating construction projects, permitting, contractor selection, negotiation and oversight.
Essential Functions
Feasibility Analysis and Site Acquisition
- Establish and maintain cooperative working relationship with brokers and landlords to identify potential sites.
- Source, evaluate and analyze new property acquisitions and development opportunities, both on-market and off-market, utilizing various methods.
- Perform site visits and inspections, analyze target trade and market areas, competition, zoning ordinances, population demographics and other factors
- Meet city/town officials regarding zoning, permitting, site development and entitlements
- Understand the patterns and changes affecting potential new acquisitions
- Present potential new properties for acquisition company president for review and approval
- Negotiate with the sellers on sale price and terms
Financial Responsibilities and Management
- Develop and update financial models and pro-formas for potential acquisitions and development projects
- Establish and maintain development budgets and manage projects in accordance with approved budgets
- Collaborate with CFO on tracking project expenditures and forecasting budget and pro forma outcomes
- Manage relationships with financing sources including banks, mortgage brokers and other investors
- Source, evaluate and close financing for new acquisitions and developments
Permitting
- Coordinate permitting process for new development projects
- Coordinate with local, state and federal agencies to obtain all zoning and regulatory approvals
- Interface with permitting attorneys and coordinate the production of presentations and marketing materials
- Develop permitting strategies
- Represent development projects and the company publicly; this includes attending and participating in public and private hearing and meetings with permitting boards, community members and stakeholders
Manage Third Party Consultants
- Manage various consultants, including but not limited to design, engineers and outside permitting consultants, real estate brokers and attorneys
- Review consultants work for details and accuracy
Design and Coordination of Design during Construction
Specific Job Knowledge, Skill and Ability
The SVP of Acquisitions and Development must possess the following knowledge, skills and abilities and be able to explain and demonstrate that they can perform the essential functions of the job, with or without reasonable accommodation, using some other combination of skills and abilities.
- Existing industrial real estate contacts in New England and the ability to effectively network and generate property leads and to put deals together
- Energetic self-starter, with strong organizational, management and leadership skills
- Maintain familiarity with New England real estate markets – especially industrial real estate
- Must be highly resourceful and possess the ability to research and identify new potential growth markets and submarkets
- Excellent communication skills; must be articulate and possess the ability to communicate clearly and concisely with demonstrated public presentation capability
- Strong analytical skills demonstrating thorough investigation and understanding, attention to detail, practical assessment and intuitive capability
- Strong financial and mathematical skills with demonstrated ability to perform financial modeling and pro forma analysis including ARGUS and Excell
- Must have the ability to manage and supervise internal and external consulting teams, which includes development teams, design, engineering and outside consulting teams, which includes development teams, design, engineering and outside permitting consultants; outside legal team; real estate and mortgage brokers; and internal support team
- Ability to adhere to a budget and manage cost
- Ability to meet established deadlines in a timely manner
- Ability to project a positive professional image on behalf of the company
- Must possess excellent writing skills with the ability to formula reports, proposals, business plans, budgets and other types of documents
- Must be flexible and adaptable and have the ability to manage more than one project simultaneously in various stages of the acquisition process
- Strong computer skills, including Microsoft Word, Excell, and PowerPoint
- Ability to handle pressure, meet deadlines, set priorities for workload and work independently
- Ability to evaluate and manage a number of projects and transactions simultaneously
- Ability to work collaboratively with co-workers and maintain a cooperative, productive atmosphere
- Ability to travel and attend meetings on short notice
- Willingness to attend industry events to represent the company and grow business network for the company
Experience
- At least fifteen years plus of experience in real estate acquisitions and development is required and must include experience with industrial properties.
- Direct sourcing, analyzing, acquiring, financing and developing industrial, commercial and/or retail properties
Education
- A bachelor’s degree in a related field is required
- A graduate degree in Real Estate or MBA is preferred
This is an excellent senior level opportunity with a respected company, known for employee retention and a collaborative culture. This position will provide attractive compensation including base salary, bonus and other incentives.
Interested candidates are asked to provide a confidential resume and deal sheet.
All inquiries will be kept strictly confidential. For more information please contact:
Butterworth & Company
Susan H. Butterworth, CPC
sbutterworth@butterworthandcompany.com
(617)257-6543
