Associate, Lease Administration, North America

Job description

Description

We are looking for an Associate to join our NA Retail Real Estate team to support a variety of functions for the North American Free-Standing Stores and Field Sales Office portfolios. This position will report to the Manager, Lease Administration, with a dotted line to the Manager, Retail Real Estate.

• Serve as a primary point of contact for landlords and developers, assess the issues, research relevant lease clauses as applicable, and provide solutions, or escalate with recommendations to Manager.
• Responsible for sorting and processing lease related mail for action. Prioritize urgent issues such as lease defaults, notices, billing issue, etc., and take appropriate action for each document.
• Reconcile landlord rent billing statements vs. payments issued by analyzing the billing and payment history from SAP A/P system and the Tririga Lease Administration system. Ensure any balances are either paid or disputed with landlord.
• Assess validity of charges billed from landlords to ensure they are consistent with the applicable lease.
• Process lease related variable expenses for payment.
• Responsible for the preparation and distribution of monthly sales reports to required landlords. Verifying calculations of sales data and factoring in valid exclusions per the lease. Processing any percentage rent due based on the sales, breakpoint, and percent rent factors per the lease.
• Perform Contract Administrator and Lease Accountant role in to update and maintain lease data in the company's lease management tool (IBM Tririga), including setting up new leases and amendments.
• Ensure compliance with Lease Accounting SOP's and SOX internal controls.
• Prepare monthly rent payment batches for review by Manager.
• Coordinate insurance certificate requests and corresponding requirements.
• Action and coordinate vendor updates (e.g. address) to SAP.
• Assist in preparation of annual rent budgets for assigned brands, using sales forecast, projections of variable rent expenses; estimating lease renewal rents; aligning with Real Estate Team and Brands on new locations and store closures, and projecting rent expenses for new stores.
• Prepare rent estimates as needed throughout the fiscal year, and analyze variances from plan or estimates to actual expense, providing explanations to the NA Finance team.
• Resolve, and if needed escalate Brand operational or landlord related issues.
• Assist in the portfolio management of the Field Sales Office (FSO) locations across North America
• Play lead role in inter-departmental communication between NA Retail Real Estate, NA Retail Operations, planning teams and ELC brands regarding any issues that need to be addressed as per the lease.
• Act as point of reference and escalation for Retail Operations for landlord and lease related issues. Assess the issues, research the applicable lease clauses, provide answers on rights and responsibilities from the lease, and assist in reaching resolution. Issues can be related to damages to our stores, required maintenance, disruptions from other tenants, insurance claims, plumbing or heating problems.
• Engage Legal team as needed to share landlord communication, and for issues that require Legal involvement.
• Confirm all relevant parties are using the same information regarding possession, opening, rent commencement, extension or termination dates.
• Aid, as needed, on LATAM Retail Real Estate projects.
• Work on special projects as instructed by Vice President Real Estate.