Perform Lease Administration for leased, subleased, company owned US Stores and Non-Retail locations.
Manage Lease Admn. related to the North American Retail and non-retail portfolio. Negotiate and resolve open issues with landlords. Collaborate with corporate, field personnel and Landlords on a day to day basis, including:
- Responsible for an estimated 400 properties and oversee the proper interpretation and compliance of all lease-related payments, including but not limited to base rent, common area maintenance charges, real estate taxes and insurance.
- Prepare report and analyze new location setup, account reconciliations, approval and review of the monthly rent run, verification of daily invoices, batching invoices to send to AP for payment, review of monthly rent changes, Lease Amendments and Termination Agreements.
Oversee and verify changes required to the Real Estate database are done in accordance with policies and procedures set forth within the department.
- These changes range from abstracting new leases, new lease amendments, landlord changes, address changes, vendor number requests from AP, abstract and track changes set forth in executed Agreements.
- Request wire transfers, as well as oversee and review of the Estoppel preparation process.
- Update system pertaining to Option Notices.
- Submit all first-time rents to landlords for new locations and Commencement Date Agreements. Track late delivery credits and report on to various departments and Vice Presidents within the Real Estate Department.
- Update ACH contact information and verify that the correct bank and entity is being paid.
Oversee and verify changes made within the monthly USR and non-retail rent run.
- Review of the monthly rent run.
- Verify all changes made on variance reports to ensure the correct vendors as well as the correct dollar amounts are being paid monthly.
- Review individual monthly variance reports on a monthly basis, to ensure that changes are accurate from one month to the next and in line with all agreements.
Oversee and evaluate landlord billings and statements and ensure they are in line with Leases and Lease Amendments.
- Responsible for proper interpretation and compliance of all Lease-related payments including but not limited to base rent, common area maintenance charges, real estate taxes and insurance for all Retail and Non Retail locations.
- Responsible for reviewing operating expense budgets, adjusting monthly escrows and performing year-end audits annually in accordance with the leases.
- Oversee and review the verification of daily invoices and batching. Verify and maintain Lease Admn. database and ensure vendors are consistent with database. Flag all payments of the daily batches to be sent to AP for processing. Ensure that payments tie out financially prior to sending to AP.
Review and interpret leases with regard to Landlord Defaults.
- Review all landlord defaults and reconcile all accounts based on Lease Language.
- Distribute all landlord defaults to appropriate parties and escalate as warranted.
Compile, produce and distribute Lease Admin department reports.
- Audit and reconcile the Monthly Savings Report.
- Review Construction Status Report on a bi weekly basis and create customized reports to be uploaded to the lease database in-order to track new retail and non-retail locations, as well as relocations.
Key Job Responsibilities:
- Strategically and tactically solve Lease Administration issues resulting in financial savings for the business.
- Negotiate resolution of disputes between landlords and Staples regarding lease defaults and account reconciliations.
- Tracking all executed legal documents that pertain to our Retail and Non-Retail locations in our database. These include, New locations, Amendments, Terminations, Commencement date agreements, option notices, and estoppels.
- Track all late delivery issues for new properties and relocations.
- Min. 3-5 years in Lease Administration preferably within Retail Industry
- BS/BA in Business or Accounting or related field
- Working understanding of Lease Administration and or Accounting Systems
- Fluent in Excel
- Ability to interpret Lease Language
Staples is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, protected veteran status, disability, or any other basis protected by federal, state, or local law.