Lead Abstractor / Lease Administration Located in Seattle, WA.
Lease Administration professional with an emphasis in Lease Abstractions to join our core Lease Administration Team.
This position requires a strong lease administration background with a working knowledge of commercial leases (office, retail, and warehouse, and others), an understanding of financial lease terms and principles with the ability to calculate rent and critical dates. This position needs to be performed with confidence and under minimal supervision. This position has the potential to move into a lead role with oversite for a team of abstractors.
Verify existing lease abstracts
Abstract new lease agreements
Review and act as the final QC for lease abstracts for client approval
Provide analysis of errors found in Lease Abstracts and identify root cause to identify pattern or trends in errors ◦Assists Lease Administration team in resolving critical issues by researching and gathering information about errors found in the Lease Abstract
With client approval, edit and make final corrections to abstract.
Review all critical dates (rent/options/terminations/TI) against the lease documents · Provide lease analysis and interpretation of lease clauses and flag unfavorable or unusual lease clauses or obligations that impact the Tenant
Provide back up support and assist fellow Lease Administrators as necessary with generating monthly reports associated with management of the real estate portfolio
Special Projects as assigned by manager In addition:
May assume responsibility for lease abstraction team.
The developed ability to interpret lease provisions, attention to detail, strong interpersonal skills, ability to build and maintain effective relationships, work independently, prioritize, take initiative to investigate and resolve problems using sound judgment, excellent oral and written communication skills are required.
Over time, may provide formal supervision to individual employees within single functional or operational area of Lease Abstracting. Based on scope of work will provide recommendations of staff recruitment, selection, promotion, advancement, corrective action and termination. Plans and monitors appropriate staffing levels and utilization of labor. Prepares and delivers performance appraisal for staff. Mentors and coaches team members to further develop competencies. Leads by example and models behaviors that are consistent with the company's values.
With access to top-tier market intelligence, planning, local site selection and asset strategies, our Global Workplace Services offering includes Enterprise Facilities Management (EFM), Project Management (PJM), Advisory & Transaction Services (A&T), and Management Consulting. We offer end-to-end expertise across all workplace types, scalable delivery, a commitment to world-class safety and ongoing innovations in building efficiencies, energy conservation and CRE technology.
Bachelor's degree from a four-year college or university with Accounting, Finance or Real Estate preferred or significant related experience. High school degree or general education degree required plus a minimum of five years related work experience, preferably including work as a Lease Abstractor, Lease Administrator and or Property Management or real estate accounting.
Excellent written and verbal communication skills. Strong organizational and analytical skills. Ability to provide efficient, timely, reliable and courteous service to customers. Ability to effectively present information.
Requires in-depth knowledge of financial terms and principles. Ability to calculate complex figures and conduct financial/business analysis including the preparation of reports.
Ability to comprehend, analyze, and interpret complex documents. Ability to solve problems involving several options in situations. Requires advanced analytical and quantitative skills.
OTHER SKILLS AND ABILITIES:
Advanced knowledge of computer software and hardware (i.e. Microsoft Office Suite Products), database applications and spreadsheet design. Ability to work well under pressure. Advanced organizational skills.
SCOPE OF RESPONSIBILITY:
Decisions made with general understanding of procedures and company policies to achieve set results and deadlines. Errors in judgment may cause short-term impact to co-workers and supervisor and clients.
White Paper for additional staffing:
This is a needy client. They are the kind of client that needs to touch or get their hands on the person and have them nearby. They are demanding and critical. The best way to meet their current needs is the have the people here. The issues when do arise can be addressed here and now. Waiting does not suit the client's temperament. No does not work well either. They want to when and how much it will cost.
Lease Abstraction is for experts.
3RD Party abstracting is attractive as the cost of working with companies located in India / Manilla etc. is relatively inexpensive.
Drawback to date, includes working with a team that not only is remote but is on the other side of the globe in a different time zone which makes communication more difficult. And, communication is key for high-quality, cost and time-efficient work. Being twelve hours apart simply complicates any type of communication.
3rd Party length of employment time and training for high degree of specificity and critical dates and dollars. The work can become subject to errors is focused is lost.
Language can also be a drawback if English is a second language. Miscommunication because of language barriers and to a certain degree cultural differences can easily end up increasing the costs and end up eroding for the planned savings. This creates stress.
If the lowest rate is the priority, then continue as is.
The lease abstract reflects the agreements between the parties. It's worth thousands of dollars, it's full of nothing but critical time sensitive information. Why would you outsource this work? The lease abstract and the reports that come from it are the basis which financial decisions are made etc. Outsiders may not have the same level of commitment, they may not see or feel the same level of engagements that being together every day can brings. Outsourcing can create a sense o isolation and disconnect. The biggest risk of outsourcing is often overlooked: it robs you of the chance to train, develop and promote talent from within.
Internal Number: 18023482
With broader and deeper capabilities than any other company, CBRE is the leading full-service real estate services and investment organization in the world.
CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm, with 2017 revenues of $14.2 billion and more than 80,000 employees (excluding affiliate offices). CBRE has been included in the Fortune 500 since 2008, ranking #214 in 2017. It also has been voted the industry’s top brand by the Lipsey Company for 17 consecutive years, and has been named one of Fortune’s “Most Admired Companies” in the real estate sector for six years in a row. Its shares trade on the New York Stock Exchange under the symbol “CBRE.”
CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.