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 Real Estate Specialist position is responsible for (1) the negotiating, processing, and management of short term use agreements; (2) assisting with standard leases and license agreements as assigned; (3) updating and maintaining the University Lease Inventory Database and annual Lease Report; and (4) special projects as assigned. The Real Estate Specialist reports to the Director of Leasing and Property Management.
50% – Short term use agreements:
This position is responsible for negotiating, processing and management of short term use/license and hotel/venue agreements. This work entails working with various University departments as well as non-University entities to assist in preparation/review/approval of the appropriate agreement for the use of space. Responsibilities include:
Ensuring the business terms are acceptable, legal review is completed (by Office of the General Counsel), and insurance terms are acceptable (with Risk Management’s assistance). When necessary, produce an Approval Authority letter. These use/license and hotel/venue agreements include situations where the University is either the landlord or the tenant.
Managing all outdoor space use requests made by Non-University Entities. This includes but is not limited to coordinating with all the necessary internal departments/external entities for approval of the request.
Managing other short term agreements, which could include Temporary Construction Agreements, Access Agreements, and Co-sponsorship Agreements.
Providing training to University departments on leasing policies and procedures for short-term use agreements in coordination with the Office of General Counsel to resolve problems and answer questions.
20% Lease/Transaction Support:
The Real Estate Specialist will assist the Director of Leasing and Property Management and the Senior Real Estate Specialist with other lease transactions as assigned, including lease renewals and extension letters; calculate rent increases as needed. Other agreements including, but not limited to, Facility Use Agreements, Utility License Agreements, Permits, Air Rights Agreements and Access Agreements
20% Information Management:
The Real Estate Specialist is responsible for collecting information, updating and maintaining the University Lease Inventory Database, from which the leasing team manages all University leases for rents, renewal terms, option dates, terminations, etc.. From this database, the leasing team compiles the University's annual Fiscal Year Lease Report which is provided each year to University senior leadership, as well as Accounting Services. The position is also responsible for the collection, review, and entry of certificates of insurance for all lease agreements, and maintaining an availability list of all off-campus space in the vicinity of the Twin Cities Campus for short-term and long-term rental.
10% Special Projects:
The Real Estate Specialist 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.
BA/BS and at least two years of relevant experience in commercial real estate or a related field or a combination of education and related experience equal to at least six years.
Knowledge, Skills, and Abilities Essential to this Position:
Ability to communicate effectively, succinctly, and persuasively in writing, orally and interpersonally.
Strong financial and analytical skills.
Strong attention to detail.
Excellent judgment and ability to work independently.
Ability to coordinate multiple tasks and meet challenging deadlines.
Demonstrated integrity and adaptability.
Ability to effectively manage through ambiguous assignments.
Awareness of, appreciation for, and responsiveness to the needs of a diverse workplace.
Demonstrated ability and success in providing support to and working in teams, including working with and through others to accomplish goals.
Ability to develop and process information using MS Word and Excel.
Internal Number: 329618
About University of Minnesota, Twin Cities
The University of Minnesota, founded in the belief that all people are enriched by understanding, is dedicated to the advancement of learning and the search for truth; to the sharing of this knowledge through education for a diverse community; and to the application of this knowledge to benefit the people of the state, the nation, and the world.