Retail Property Manager

Are you ready to make a huge impact in Chicago’s real estate market that will make our neighborhoods amazing?

Newcastle is looking for a Retail Property Manager to oversee operations for a portion of Newcastle’s growing retail portfolio of 70 assets serving 175 tenants. This is a dynamic position that requires a self-starter able to move seamlessly between the office and the field, while maintaining strong relationships with retail tenants and internal stakeholders. This is an extraordinary opportunity to join an established, well-capitalized real estate operating company and play a key role in the company’s ongoing success and growth. 

WHO WE ARE

Newcastle Limited is a real estate investment and operating company that acquires, develops, and owns retail, multifamily, and mixed-use properties in urban Chicago. The firm’s growing portfolio includes 3,000 apartments and 600,000 square feet of retail space valued at $1.5 billion. An entrepreneurial investor with institutional backing, Newcastle can deploy large amounts of capital and close deals quickly. Newcastle has delivered outstanding returns to its capital partners for two decades and is poised for substantial growth.  For more on Newcastle Limited, visit .

WHAT YOU WILL DO

Retail Property Managers forecast and monitor asset financial performance, manage retail tenant relationships, confirm lease compliance, and safeguard the physical condition of retail assets using internal resources and third-party vendors.  They have frequent interaction with the firm’s asset management, retail leasing, and accounting teams - and work with Newcastle’s development and finance divisions to redevelop or secure debt financing for portfolio assets.

MANAGING TENANT RELATIONSHIPS

• Onboard new tenants, initiating utilities, billing, and other connections, abstract and enter lease terms into Yardi, and convey key information to the firm’s finance and asset management teams.
• Coordinate interaction between tenants, tenant contractors and Newcastle’s development and finance teams.
• Provide outstanding customer service to retail tenants, responding to tenant communication, resolving tenant lease concerns, facilitating maintenance requests, and handling lease assignments, terminations, and rent relief requests.
• Monitor tenant lease obligations, including tenant insurance certificates, maintenance, and sales reports.

OVERSEEING FINANCIAL MANAGEMENT

• Examine asset financial performance, alerting senior management to material exceptions or variances.
• Analyze tenant sales performance, identifying trends that may impact asset performance.
• Lead internal stakeholders to generate annual property strategic plans and budgets.
• Partner with CFO to secure property debt.
• Ensure that tenant financial obligations are collected and accounted for in a timely manner.
• Work with retail accounting specialists to manage tenant accounts. Identify tenant credit or payment issues and recommend corrective action.
• Prepare annual tenant property tax and expense reimbursement reconciliations. Communicate with tenants as necessary to ensure understanding.

COORDINATING MAINTENANCE & CONSTRUCTION

• Oversee tenant build-out or property capital improvements.
• Work with Property Engineers and third-party vendors to implement preventive maintenance programs.
• Tour portfolio properties regularly. Ensure vacant retail shows well , and that building exteriors are in good condition with maximum curb appeal.
• Partner with engineering team to ensure service requests are handled timely and professionally.
• Retain and manage third-party vendors for snow removal, roof, HVAC, and other service contracts.
• Partner with Newcastle’s development team on major capital initiatives.

ENSURING COMPLIANCE

• Manage renewal of necessary permits.
• Implement and maintain policies and procedures to ensure safety and compliance.
• Report liability and property incidents to senior management.
• Work with contractors, vendors and attorneys to cure violation notices.
• Coordinate and lead property tours for lenders, brokers, vendors, insurers, and inspectors.

WHAT YOU NEED

The ideal candidate will possess most of the following qualifications:

• College degree.
• 2+ years of experience in retail or multifamily property management.
• Experience with property budgeting.
• Familiarity with Yardi or comparable property management software.
• Proficiency in the Microsoft Office Suite (Excel, PowerPoint, Word).
• Understanding of property cash flow, financial statements, and accounting.
• Ability to manage internal and third-party resources to accomplish tenant buildouts, capital projects, and strategic planning.
• Ability to present findings and recommendations in a coherent, logical manner in writing and verbally.
• A bias toward customer service.
• Familiarity with retail leases and vendor/service contracts a plus.