Lots -O-Space

Last week, the Wall Street Journal ran a feature article about the liquidation of unwanted General Motors assets that have been discarded by the company as it trims down into the “new” GM. I was amazed by the list of some of the assets, and wondered who in the world would buy them: a four-million-square-foot plant that built transmissions, equal to the size of 110 football fields; a 4.5-million-square-foot factory truck assembly plant that is bigger than the Pentagon. In all, the GM junkyard contains over 50 million square feet of unwanted factory and office space–roughly the equivalent of 25 Empire State Buildings. To manage dumping these “assets,” the bankruptcy court formed Motors Liquidation Corp. So what does all this have to do with organizational issues? Well, I was thinking about the ranks of real estate brokers on the case and wondered what smart folks are coming up with to move these incredible properties. What could you possibly do with a four-million-square-foot factory in Ypsilanti, Michigan? If you have any ideas, let me know and I’ll pass them along to the folks at Motors Liquidation.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.
Job Opportunities
FEDERAL REALTY INVESTMENT TRUST Development Analyst (ROCKVILLE, MD) The analyst will create and manage the development pro-forma, create and manage the development schedules, assist with negotiations with outside agencies for necessary development approvals, coordinate internal team and team meetings, including” leasing, asset management, tenant coordination, legal and accounting, manage permit process required to develop the project and expedite the projects path through complex entitlement processes; and coordinate the design process including master-planning, civil engineering, architecture, traffic engineering, geotechnical, environmental, lighting, landscape and graphic design. VOIT REAL ESTATE SERVICES, LLC Property Manager (NEWPORT BEACH, CA) The property manager maintaining properties, including maintenance issues, service contracts, capital projects; overseeing general contractors and subcontractors, including review of scope or work, estimates, proposals, and contracts; managing the occupancy of properties, including corresponding with tenants, preparing lease briefs, commencement letters, and other lease addendums, handing security deposit refund requests, maintaining insurance certificates; producing and administering property budgets and financials. DRA ADVISORS LLC Asset Manager–Multifamily (NEW YORK CITY) The manager’s responsibilities will include carrying out strategic goals at the property level through tracking financial performance, analyzing property level data, implementation/oversight of capital improvements, and understanding local market dynamics that affect an asset. The position entails working closely with Acquisitions and Dispositions throughout the life of the asset. TIAA-CREF Director, Real Estate Asset Management (NEW YORK CITY) The director will be responsible for asset management of real estate equity investments primarily consisting of office and industrial along with multi-family and retail properties; manage the process of achieving superior returns on real estate assets through active management and leasing; negotiate leases with prospective tenants as well as develop strategies and budgets for leasing, marketing, annual operating expenses, and capital improvements; and analyze market conditions and trends and report findings to senior staff, among other duties. HEALTHCARE TRUST OF AMERICA Property Accountant (SCOTTSDALE, AZ) The accountant will produce financial packages for a portfolio of properties as part of the monthly closing process, including (a) preparation of detailed comparative analysis of budgeted NOI to actual NOI, (b) balance sheet and income statement account reconciliations (c) monthly operating expense and income accruals (d) fixed asset depreciation for property improvements, (e) straight-line rent adjustments; prepare and post standard and non-standard journal entries to general ledger; prepare all periodic CAM, Real Estate Tax and Utility expense recovery reconciliations; and prepare all lender reporting and initiating monthly payments; among other duties. MULTIFAMILY INDEXED EQUITY, LP Chief Financial Officer (ENGLEWOOD, CO) The CFO is responsible for providing financial leadership to MFIQ in the best interests of its stakeholders; with the CEO, ensure the development and implementation of a strategic plan for MFIQ to maximize shareholder value consistent with sustainable business practices, and recommend it and report progress against it to the board for review and, in the board’s discretion, approval; and with the CEO, ensure the development and implementation of an annual operating plan including business plans, operational requirements, organizational structure, staffing and budgets that support the strategic plan; among other duties. TYCO INTERNATIONAL Director, EMEA Real Estate (LONDON) The director will partner with senior director, Global Real Estate, group and company senior management to determine both short- and long-term real estate strategy; analyze real estate market data and perform financial analysis of project and portfolio cost; and develop individual and multi-site acquisition/disposition strategies to meet business requirements in a timely and cost effective manner, among other duties. GREENSTREET REAL ESTATE PARTNERS LP VP of Asset Management (MIAMI) The VP’s primary responsibility will be to work directly with each of the asset managers and assist them with the strategic and operational aspects of the management of their portfolios. In addition, the VP of Asset Management may be given individual responsibility for 1-2 properties, as well as duties including: site visits, lease approvals, capital expenditure approvals, budget reviews, business plan formulation and implementation, among others.
Promotions No more than one submission per company will be considered per week. Submissions with multiple names will be capped at three for coverage in Executive Watch.

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CB RICHARD ELLIS (PHOENIX) CB Richard Ellis is promoting David Josker and Jenee Hooton to the positions of associate director and real estate manager, respectively. HANOVER REAL ESTATE PARTNERS (GREENWICH, CT) Hanover Real Estate Partners is hiring Romano Orlando as CFO. Prior to Hanover, Orlando was the finance manager of Wittek Development, LLC, a real estate investment and development company. MAX SPANN’S REAL ESTATE & AUCTION CO. (CLINTON, NJ) Max Spann is hiring Glenn McDonald joined the firm as regional director of business development.
New Hires No more than one submission per company will be considered per week. Submissions with multiple names will be capped at three for coverage in Executive Watch.
CUSHMAN & WAKEFIELD (EDISON, NJ) Cushman & Wakefield is hiring John A. Kaye as a director. Prior to joining C&W, Kaye was a senior associate at CBRE. DIVERSIFIED PROJECT MANAGEMENT (NEWTON, MA) Diversified Project Management is hiring Nancy Hanright as project manager. THE RADCO CO. (ATLANTA) The RADCO Co. is hiring Thomas P. Nolan as managing director of new business development. MADISON MARQUETTE (WASHINGTON, DC) Madison Marquette is hiring Patrick W. Walmsley as managing director. Prior to joining Madison Marquette, he served as a managing director at Eastdil Secured. ARAGON CONSTRUCTION (NEW YORK CITY) Aragon Construction is hiring Frederick F. Coffey as senior vice president.

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