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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.

Key Position Accountabilities

• Lease Documentation: Abstract and input documents such as leases, license agreements, amendments, assignments, terminations, chattel lien waivers, etc. into the company real estate software (MRI)
• New leases: Audits and finalizes abstracting work done in MRI by outside vendor prior to commencement with projected dates. Identifies any issues for follow up.
• New leases: 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. Collaborate with cross functional team to identify any rent commencement issues and a proposed strategy.
• New leases: 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. Update and finalize all critical lease dates with final dates in MRI once commencement date has been determined such as: billing table increase dates, option notice dates, kickout dates, expiration date, commencement date.
• Tenant Improvement Allowances: responsible for setting up payment schedule in AVID, review and confirm that any Tenant request for payment has all requirements met per lease. Draft Commencement Date agreements as needed. 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 tenants 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.
• Lease scrub analysis for renewal process: 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. Responsible to review and confirm lease scrub analysis once completed by outside vendor, Lease Probe to finalize.
• Monthly Default 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.
• Acquisitions: 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
• Monthly rent increase letters: calculate increases for CPI, FMV or effective rents. Work with team to confirm any questions on monthly list of increases.
• Monthly rent run: 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.

The Senior Lease Compliance Analyst works with the following internal organizations/individuals:

• Director of Lease Compliance and Analysis to ensure all lease documentation is entered into MRI in an accurate and timely manner.
• Collaborate with Collections and Accounting teams to resolve tenant account issues.
• Construction and Tenant Coordination departments to obtain the necessary dates for plans, permits and approvals, and delivery to calculate commencement of lease term. Troubleshoot tenant issues with Cross Functional Team.
• Leasing Department to obtain information on future leasing activity and to verify the status of tenant with expiring lease documentation.
• Finance/Treasurer to provide information for construction and permanent loans.
• Partners and Senior Management to provide lease information and analysis.

The Senior Lease Compliance analyst works with the following external organizations/individuals:

• Tenants and/or their corporate lease administrative departments to verify opening dates and resolve issues arising after rent commencement.
• Legal firms to obtain copies of legal documents and for legal interpretation of lease clauses.

Requirements

• Excellent business writing and proof-reading skills
• Keen problem solving and research skills.
• Ability to communicate effectively with all team members.
• High level of computer expertise with the ability to train others in company software and systems - Word and Excel required, MRI, Salesforce, AVID, and Papervision preferred
• Background in retail lease abstracting, compliance or administration as well as the shopping center industry.
• Philosophy, values and personal work style compatible with Company culture
• Associate Degree or other higher education preferred
• Five years of experience in Lease Compliance and Analysis with a data base system is required

About WS Development

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.

WS is where great ideas and great people come together to design, build, and operate some of the best loved real estate projects in the country. We live at the intersection of entrepreneurship and establishment. We have the infrastructure of decades supporting a culture of free-thinking excellence.

We expect every WS employee to feel welcomed and valued irrespective of race, color, religion, gender, gender identity or expression, sexual orientation, national origin, disability, age, veteran status, marital status, parental status, cultural background and life experiences. Or for any other reason.