DEPARTMENT: PHILADELPHIA NAVY YARD
REPORTS TO: DIRECTOR, NAVY YARD LEASING & DEVELOPMENTS
PIDC is Philadelphia’s public-private economic development corporation. Our mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. We offer flexible financing products, a targeted portfolio of industrial and commercial real estate, and decades of Philadelphia-based knowledge, to help our clients invest, develop, and grow throughout the city of Philadelphia. You can learn more about PIDC at www.pidcphila.com.
Since acquiring 1,200 acres of land from the federal government at the site of the former Philadelphia Naval Shipyard in 2000, PIDC has been the master developer of the Navy Yard, managing its transition from a closed shipyard to a growing and thriving riverfront neighborhood located along the Delaware River featuring a mix of historic buildings and new high-performance and LEED certified construction oriented around world-class open space. Dubbed “America’s Coolest Shipyard” by Politico, the Navy Yard is now home to more than 170 employers and more than 14,000 people who come to work every day and there is enormous capacity for growth. PIDC’s Navy Yard team is responsible for making the Navy Yard a great place to work, visit, invest, and develop and works with partners and stakeholders to guide the property’s overall management and development, including marketing, leasing, social programming, development, planning, transit connections, infrastructure development, utility operations and property management. You can learn more about the Navy Yard, its history, current activity and plans for growth at www.NavyYard.org.
PIDC is seeking a motivated, entrepreneurial real estate professional to join our team as Director, Navy Yard Leasing and Development. The successful candidate will be responsible for driving business attraction and expertly managing all leasing, business, and real estate activity related to PIDC’s portfolio of land, historic buildings, and maritime assets at the Navy Yard. PIDC is poised to enter into its second master development partnership at the Navy Yard, including a new master planning effort and 109 acres of new life science, office, commercial, residential, and retail development. The successful candidate will manage the master development partnership on behalf of PIDC, along with stand-alone development projects not covered by that agreement. This includes working closely with PIDC’s private development partners to facilitate high-quality projects that attract significant investment and jobs to the Navy Yard and Philadelphia. Experience with business attraction, real estate financial analysis, and planning (both master planning and site-level planning) is preferred. This position reports to PIDC’s Senior Vice President for the Navy Yard.
Specific responsibilities include but are not limited to:
BUSINESS ATTRACTION & DEVELOPMENT
- Engage directly with prospects, tenants, real estate brokers, and public partners to generate new contacts and leads, showcase the Navy Yard, and produce a high-quality pipeline of leasing, development, and land sale transactions at the Navy Yard.
- Represent PIDC and the Navy Yard with brokers, developers, and real estate professionals at relevant networking and educational events; conduct tours and presentations as needed.
- Develop and execute business attraction and development strategies, based on data-driven evaluations of effectiveness.
- Manage leasing portfolio to maximize value, while supporting business growth and job creation.
- Initiate, negotiate, and structure lease deals by marketing spaces, fielding inquiries, drafting term sheets, and executing leases (in coordination with PIDC’s legal team).
- Track and manage all lease expirations and renewals.
- Maintain up-to-date records of the Navy Yard’s leasing portfolio and generate recurring reports on key indicators, such as occupancy, pricing, net revenue, lease expirations, and pipeline.
- Maintain knowledge of local market trends and activity, and best practices related to commercial office and industrial leasing.
REAL ESTATE ACTIVITY
- Negotiate and manage all real estate development agreements to ensure compliance and progress toward expected milestones.
- Lead joint master plan process with new master development partner, as well as planning related to campus parking needs and emerging districts such as League Island Boulevard West, the Broad Street entrance, and the West End maritime/industrial complex.
- Support PIDC’s master development partner in executing development and infrastructure projects, including permits, approvals, and property matters.
- Initiate, plan and execute development opportunities for Navy Yard real estate assets not covered by existing development agreements.
- Work with internal and external partners to structure public incentives and PIDC financing packages for Navy Yard tenants and development projects.
- Support master planning process and development of specific sites and districts by creating pro forma financial models, running sensitivity analyses, and performing cost-benefit analyses.
- Coordinate monthly Navy Yard Design Review Advisory Committee.
- All other related duties as required.
- Minimum 5 years of experience, including real estate transactions and business development.
- Bachelor’s Degree from an accredited four-year college or university with course work in finance, economics, real estate, business administration, or a related field.
- Experience in leasing, asset disposition, and real estate development negotiations.
- Familiarity with public and private financing strategies for real estate transactions.
- Strong organization and project management skills.
- Excellent judgment, analytical capacity, and creative problem-solving abilities.
- Demonstrated ability to build and maintain public and private partnerships and relationships.
- Commitment to, and enthusiasm for, PIDC’s mission to attract investment, jobs, business growth, development, and tax ratables to help improve the quality of life in Philadelphia.
- Interest in being part of an entrepreneurial and energetic team.
- Strong analytical and presentation skills, Salesforce, Excel.
- A valid driver’s license.
- City of Philadelphia resident or a commitment to relocate within 6 months.
To be considered for this position, please email a resume and cover letter along with annual salary requirement (contact below) by no later than Thursday, July 2, 2020.
PIDC promotes a culture of inclusion and does not discriminate on the basis of race, color, sex,
sexual orientation, religion, national or ethnic origin, age, disability, veteran status or any other
legally protected factor.