Small Boxes
Last week the Wall Street Journal reported that big-box retailers are dealing with shrinking real estate requirements as customers increasingly shift to online purchasing. The most telling example is that Staples, who pioneered the "superstore," is now the second largest online retailer behind Amazon, and that translates to not so super stores. Wal-Mart, Best Buy, and Home Depot are scrambling to fill unused space by expanding their offerings or subletting vacant square footage and carving off parking lots. This is bad news for the retail sector. Not only are many markets saturated with retail malls and big boxes, now we have the shrinking-factor that will further dampen real estate growth. This will have a ripple effect on the organizational front. With less growth, there will be fewer jobs and transaction volume will also diminish, aggravating the recovery on the brokerage side of the business. So what can we do about this? I’d buy FedEx stock and hire a chief digital officer. That’s where the growth will be.
Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.
Job OpportunitiesWATERSTONE ASSET MANAGEMENT
Asset Manager
(CHARLOTTE, NC) The manager is responsible for managing each non-performing commercial mortgage loan in his or her portfolio from the date of assignment of the asset to the date of either resolution or transfer to WAM’s REO team; and analyzing the loan to develop a resolution and disposition plan to maximize the net present value of the asset; among other duties.
SELECTLEADERS
Senior Vice President of Sales
(GREATER ATHENS, GA) The SVP of sales will be responsible for meeting and exceeding the company's established sales goals for both company and resale properties; to be the chief administrator for the sales executives and support staff for the Company's sales offices; and lead, manage and motivate the development of a highly trained, customer- satisfaction oriented sales team; among other duties.
FOREST CITY
General Manager
(YONKERS) The general manager will direct shopping center associates by establishing job requirements/responsibilities and monitoring quality of work and adherence to commercial and company policies; manage staff; manage center operations; and serve as liaison between tenants and ownership; among other duties.
METROPOLITAN REAL ESTATE INVESTORS
Acquisition Analyst
(LOS ANGELES) The analyst will be responsible for assisting in the sourcing, underwriting and closing of commercial property acquisitions; develop financial models for potential acquisitions; and develop property level cash flow projections reflecting thorough understanding of operations, leases, capital requirements and market trends; among other duties.
HELIOS AMC
Senior Portfolio Accountant
(SAN FRANCISCO) The accountant will be responsible for multiple portfolios of commercial real estate loans; loan accounting, general accounting, month-end close, account reconciliations, financial statement preparation, annual budget and monthly re-forecast preparation, and monitoring and analyzing variances; among other duties.
CORPORATE OFFICE PROPERTIES TRUST
Interactive/Multi-Media Specialist
(COLUMBIA, MD) The specialist will provide leadership in the recommendation and use of new technologies that provide tactical support for strategic marketing initiatives; translate COPT business objectives into interactive creative solutions; ensure successful representation of COPT’s brands in the online/digital/multi-media sphere; and provide day-to-day management of COPT’s branded products; among other duties.
JONES LANG LASALLE
Operations Manager, Mobile Engineering
(NEW YORK CITY) The manager will be responsible for maintaining daily working staff levels pursuant to the goals of the operation and the needs of MES; ensuring that engineering staff is qualified and trained; and identify safety hazards within the scope of work MES performs and the remediation of such hazards to ensure that MES employees work in a safe environment; among other duties.
TDI REAL ESTATE HOLDINGS LLC
Senior Investment Analyst
(SAN DIEGO) The analyst will be responsible for underwriting potential acquisition of land and existing investment opportunities, including financial analysis, due diligence, conducting market research, and modeling cash flows and deal structures; and assisting in financial analysis and management of existing assets including initial closing and capitalization, development, construction, operations, recapitalization and dispositions; among other duties.
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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