Senior Real Estate Specialist

Description of Position

The University of Minnesota’s Real Estate Team within Planning, Space, and Real Estate provides real estate leadership and services to the University of Minnesota System (Twin Cities, Duluth, Morris, Crookston and Rochester Campuses and numerous research and outreach centers). The Senior Real Estate Specialist position is responsible for (1) the management of real estate lease transactions including renewals, amendments, terminations, and exercising of options in existing lease agreements;

(2) negotiating new lease transactions as assigned; (3) management of license agreements, permits, and co-sponsorship agreement transactions; and (4) special projects as assigned.

This is a 12-month, 100% time Civil Service position, which reports to Director of Leasing and Property Management.

The Senior Real Estate Specialist (SRES) is responsible for all renewals, amendments, early terminations, exercising of options, and enforcing terms of lease agreements with respect to landlord/tenant obligations for the entire University System. This includes advising University units on business terms, negotiation of terms and conditions, drafting renewal or termination letters, drafting amendments, coordinating the approval process, working with the Office of the General Counsel to ensure the appropriate legal documentation is developed and approved, ensuring the appropriate insurance requirements are met, preparing financial analysis of leasing options, coordinating leasehold improvement projects as required, and managing a wide range of issues encountered in real estate transactions.

The SRES collects data for lease agreements and works with the Lease Administrator to ensure all data pertaining to lease agreements is properly entered in the University's Lease Inventory System to ensure accurate reporting.

Accounting responsibilities include calculating rent increases and management of CPI increases. Responsible for confirming rents, maintenance, and operations expenses are accurate to ensure prompt and accurate payments.

This position is the first point of contact in the Real Estate Office for the management of leases where the University is the landlord and will be responsible for interpreting and enforcing policies pertaining to use of space, rents, and all other matters pertaining to the leases, including resolution of any conflicts in ensuring adherence to lease terms and provisions.

The SRES is responsible for new Lease transactions and license agreements as assigned by the Director of Leasing and Property Management, for the entire University System. This work includes conducting market studies and analysis, negotiating business terms while maintaining and developing relationships with external parties such as landlords and brokers, advising University units on business terms, negotiation of terms and conditions, compiling site surveys for off‑campus requirements, interpreting University policies and procedures to ensure that transactions are in compliance, coordinating the review and approval process, working with the Office of the General Counsel to ensure the appropriate legal document is developed and approved, ensuring external parties and their requested use of University space aligns with the mission of the University and does not interfere with University’s needs for space, ensuring that insurance requirements are met, completing financial analysis of complex long term leases, coordinating leasehold improvement approvals, process, and payments, and other lease transaction duties for a complex portfolio with a high volume of lease agreements.

The SRES represents the Real Estate Office on other University Projects as assigned, which could include development of procedures to increase efficiencies, research projects, property evaluations, market studies, and liaison to other University departments.

• Bachelor’s degree
• 5 years of relevant experience in real estate or a related field, or a combination of related education and work…