Reporting to the Deputy Aviation Commercial Officer, the Manager, Properties & Commercial Development, NJ Airports will lead the Properties Team that oversees EWR and TEB properties and commercial development. This person fosters best-in class standards for properties and commercial development. Engages with industry peers and industry associations to learn and implement new strategies. Mentors and provides guidance on commercial agreements, resource management, and directs timely negotiation, execution, and enforcement of the terms and conditions of agreements. Drives excellence using timelines and specific metrics of accountability on each portfolio. Drives revenue opportunities for the PA.
Preservation and Promotion of Revenues
- Develops in consultation with AvCCO/DAvCO and other Properties Managers a Strategic Properties & Commercial Development Plan.
- Enhancements to revenue strategies and a framework for developing proposed financial terms for transactions including as appropriate and within designated categories of use;
- Standardization of market rates and escalation provisions, as applicable;
- Procedures for market comparables based on defined criteria;
- Capital investment requirements;
- Identifies current occupancies and uses of each of Airport Properties, lease expiration date, and anticipated use of property upon expiration of lease;
- Incorporates long-term view of campus considering redevelopment and vision plans;
- Drives incremental revenues through leasing vacant Airport properties;
- Identifies unmet space and service demands;
- Establishes a marketing plan for properties.
- Oversees the administration of, and ensures that the unit maintains the Strategic Properties & Commercial Development Plan as a living document.
- Provides strategic guidance the preparation of annual Revenues Budget and Long-Range Revenue Forecasts including validating assumptions made with respect to continued use of properties and other variances.
- Leads monthly discussions with Aviation Finance to discuss near-term and long-term financial projections.
- Develops in consultation with AvCCO/DAvCO and maintains as a living document:
- Effective and efficient Leasing Processes & Procedures for standard transactions and guidelines for non-standard transactions for timely delivery of consistent, well-rationalized business transactions which meet Authority objectives and Stakeholder needs.
- Task lists/ Checklists with target timeframes for pursuing new, renewal lease and permit opportunities and supplements.
- Templates for tracking project objectives, action plan, and progress and other documents for monitoring compliance with Standards.
- Develops a results-driven, accountable culture of continuous improvement within the unit, working across the team to proactively anticipate issues, understand other party’s perspectives, seek out best business practices and best airport management practices, develop creative solutions, and employ a polite but persistent push to closure across the Department and the Authority and with the Business Stakeholder.
- Leads regularly scheduled staff meetings.
- Ensures that the unit maintains a current compilation of Aviation Business Policies, Rules and Regulations, other departmental requirements and governance initiatives (Standards), and that staff remain familiar with current and evolving Standards.
- Monitors enforcement of existing Standards.
- Proposes for consideration by AvCCO/DAvCO and other Properties Managers revisions enhancing Business Policies, Rules & Regulations, or governance initiatives, updates Standards to address evolving trends in the aviation industry and airport best managements practices.
- Develops in consultation with AvCCO/DAvCO and other Properties Managers standard form templates for term sheets and other permitting/leasing documentation, and proposes agreement/permit enhancements for discussion with PA-Law.
Customer Service & Stakeholder Engagement
- Strategic Stakeholder Engagement
- Develops in consultation with AvCCO/DAvCO and other Properties Managers a framework of regular engagement with Business Stakeholders to promote dialogue regarding industry conditions and understanding of PA initiatives and requirements with the goal of enhancing respectful working relationships.
- Leads assigned Business Stakeholder Forums.
- Serves as facilitator, including preparation, for AAAC meetings & committee meetings.
- Establishes effective working relationships for collaboration across the units within the Aviation Department and across the Authority.
- Develops guidelines for Property Rep communications with and responses to Business Stakeholders and collaboration with Authority Stakeholders.
- Maintains awareness of aviation and airport industry trends and identifies opportunities and threats for the PANYNJ Airports based on those trends.
- Reviews portfolio assignments across staff to confirm appropriateness for level of position, workload balance, and development opportunities across staff.
- Annually develops a proposed training plan for each member of staff which identifies skill set targeted for enhancement and identifies internal and intra-PA mentoring opportunities.
- Develops in consultation with AvCCO/DAvCO and maintains as a living document Technology / Tools Resources Plan including:
- Inventory of technology tools available as resources for unit in the monitoring and management of agreements
- Training plan for staff to become proficient in the use of available technology.
Candidates must present the following qualifications to be considered eligible for this position:
- Bachelor’s Degree from an accredited college or university.
- Five (5) + years progressively responsible experience in property and/or real estate negotiations, contracts, or business or financial analysis
- Experience developing, negotiating and managing leasing or revenue strategies.
- Experience leading a team
- Project management experience
Ideal candidates will present the following profile:
- Strong analytical, problem solving and decision-making skills
- Experience creating, investigating and interpreting complex financial analyses
- Experience in creating and giving effective presentations to executive staff
- Knowledge of flight fee agreements, commercial property leasing and operating permits in an airport context
- Experience managing professional and technical staff responsible for conducting facility leasing activities
- Experience developing and fostering internal and external relationships
- Demonstrated experience in adapting to the demands of concurrently handling multiple diverse situations and operating effectively in the face of uncertainty and change
- Capable of aligning professional goals with the needs and priorities of the organization
- Experience leading a Properties or Concessions team at a large hub airport or an airline
- Experience supervising, hiring, training, disciplining direct reports
How to Apply:
Interested candidates should apply to this job by clicking on the "Apply Now" button and submitting a combined cover letter and resume. The Port Authority of NY & NJ welcomes veteran and military spouse applications.
Only applicants under consideration will be contacted.
About The Port Authority:
Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency's network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than twenty three billion in annual wages and eighty billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where the 1,776-foot-tall One World Trade Center is now the tallest skyscraper in the Western Hemisphere.
Equal Opportunity Employer
The Port Authority of New York & New Jersey/Port Authority Trans-Hudson (PATH) is an Equal Opportunity Employer.