VP, Asset Management at STAG Industrial

Job Purpose

The VP of Asset Management is responsible for the overall performance of a portfolio of institutional quality assets and must ensure that the portfolio is operating at the highest level possible. The Asset Manager serves as the ultimate point of accountability for the financial performance of the portfolio by overseeing all leasing activity, managing property operations, driving customer satisfaction and being a brand ambassador.

Values

Duties and Responsibilities

1. Portfolio Management / Operations 
   • Responsible for the overall management of a portfolio of assets; ensure portfolio is maximizing profitability and positioned for long-term value creation and growth. 

• Direct all leasing efforts to maintain occupancy levels and drive rent growth; proactively work with third-party leasing brokers and tenant representatives to negotiate new and renewal leases and ensure all vacant suites are in “Game Time” condition. 
• Work with third-party Property Managers, Property Management Associates, and Capital Team to oversee daily property operations, annual budgeting, variance reporting, and capital project management. 

• Routinely demonstrate the ability to add value to existing assets through repositioning, redevelopment, ancillary income opportunities, and leasing.   
• Accountable for meeting budgeted key performance indicators including occupancy, new/renewal leasing spreads, same store growth and FFO growth. 
• Key external relationship manager for tenants, brokers, and national tenant representatives; drive new business and build the STAG brand within respective region.

• Use market expertise and broker connections to underwrite market rent, downtime, capitalization rates, and present capital deployment opportunities to the Investment Committee.  
• Guide regional disposition strategy and manage disposition process including hold/sell analyses, making recommendations to Executive Management, identify and hire appropriate listing broker, manage the marketing process, conduct buyer interviews, and closing.      

• Develop a thorough understanding and be an expert of the markets within your region, specifically the latest market statistics, trends, and supply/demand drivers.  
• Establish and manage key relationships with brokers, tenants, and tenant representatives, acting as the primary point of contact to support business objectives. 
• Be an industry expert and actively participate in professional associations such as NAIOP, SIOR, and ASCM.  

• Grow the STAG brand to be recognized as a fully integrated industrial real estate operating platform.
• Serve as the primary external relationship manager for the region, focused on driving new business and strengthening the STAG brand. Be a positive internal voice and brand ambassador across the entire STAG platform.    

Qualifications

• Ten years plus of relevant experience in real estate finance, accounting, and real estate operations.  
• Bachelor’s Degree required; advanced degree preferred

• Ability to set clear and challenging goals while committing the organization to improved performance. 
• Naturally connects and builds strong relationships with others, demonstrating strong emotional intelligence and an ability to communicate clearly and effectively with both third parties and Executive Management   
• Detail oriented
• Strong teamwork and communication skills 
• Experience reviewing and negotiating real estate documents (lease, PSAs, etc.)
• Strong analytical skills with proven experience in financial analysis

Working Conditions

Heavy travel component to position (50%).  

STAG has a strong commitment to equal opportunity in the workplace and believes in treating people with dignity and providing equal employment and advancement opportunities for all. 

We encourage candidates who substantially, but not precisely, match the job specifications to apply. Interested candidates should send their resume when applying for this position.