Commercial Real Estate Manager

Start your career at Bellwether Housing as a Commercial Real Estate Manager in the vibrant city of Seattle, WA 

Who We Are: Through the development, ownership, and operations of affordable housing properties, Bellwether Housing has been a trailblazer in transforming the lives of lower-income individuals and families in our region. As the largest non-profit housing provider in the Pacific Northwest, Bellwether is a leader in State and local housing policy issues, an innovator in financing and housing development strategies, and a trusted partner to a diverse array of organizations in our community, while providing resident and real estate development services to other mission-driven non-profits around Western Washington.  
 

Salary: $90,522 - $110,644/annually. 

The posted salary reflects the full pay range for this position. Offers made to qualified candidates will be made within this range and will be determined by various factors, including knowledge, skills, experience, qualifications, location, and other factors that would be critical to success in this role. 
 

Position Overview: The Commercial Real Estate Manager is responsible for the operations of a portfolio of commercial spaces and condo associations located within Bellwether Housing-owned affordable multi-family properties, working in collaboration with the residential management of the buildings. This role requires ongoing successful communication with existing and potential tenants, fiscal oversight, including income maximization and expense control, and preparing budgets and monthly financial analysis.  

The Real Estate Manager is expected to manage their properties in compliance with applicable laws and maintain high standards of customer service to partners, commercial tenants, and staff. This role serves as a key member of the Operations Leadership team and is expected to communicate with transparency, demonstrate compassion, and engage others with humility. 
 

Work Schedule: Hybrid, 3 days onsite. Monday – Friday, 8:30 am –5:00 pm. The final schedule is to be determined by the supervisor. 
 

Your Impact:  

Commercial Management:   

• Manage commercial leases, maintain excellent communication with tenants, and enforce lease terms.  Perform regular inspections of properties, recommend and direct alterations, maintenance, and reconditioning of properties as necessary.  
• Oversee the timely collection of rent, payment of expenses, compliance with lease terms, and preparation of all required legal notices.  
• Manage relationship with brokers to list vacant commercial space, adjusting marketing and listings as necessary to generate interest.   
• Review LOI’s and conduct reviews of business plans and financials to ensure the financial solvency of the proposed tenant and make recommendations to Leadership.   
• Negotiate lease terms for new tenants and draft the leases for execution. Coordinate tenants' move-ins and move-outs, and "walk-through" spaces with tenants and the tenant improvement department. 
• Administer lease terms for all tenants, including notifications of upcoming lease termination dates and collection of insurance documents.  
• Establish CAM charges for each building and oversee the billing of CAM and annual reconciliation.   
• Develops and controls annual budgets for operating and capital expenses. Forecasts management plans and prepares monthly performance, explaining variances.   
• Work with Asset Management on property tax appeals   

Condo Management:  

• Acts as the primary liaison with the Association Board of Directors as needed, representing Bellwether in dual roles as management agent and Condo board partner.  
• Provide and/or oversee recommendations to the Association Board of Directors regarding major capital expenditures as required to maintain the desired community appearance and operation.  
• Perform/Direct administrative and management duties as requested by the Board of Directors and in accordance with the management agreement.  
• Coordinate and facilitate Board meetings per the management agreement and community events as needed, preparing board packages according to established time frames.   
• Ensure the Board of Directors is aware of legal actions involving the Association.  
• Understand condo bylaws.   
• Prepare budgets and review condo billings for accuracy. Review quarterly financial reports and ensure invoicing is submitted to the association's Board of Directors.  
• Maintain excellent communications with other condo owners and tenants. 

Cross-Departmental Collaboration:   

• Collaborate with residential Regional Managers, Maintenance Managers, Asset Management, and Property Managers to ensure commercial tenants are kept informed of activities around the building.   
• Conduct monthly financial reviews with Asset Management and quarterly internal reviews with directors.   
• Collaborate with the Maintenance Department to ensure that units are ready for new tenant move-ins and that their condition meets Bellwether standards.  
• Research, qualify, and contract with vendors and other service providers for maintenance projects or other building improvements beyond the scope of Bellwether Maintenance staff; manage contracted services to completion.   
• Collaborate with Maintenance and Asset Management to identify, plan, and implement capital projects, and propose projects annually at budget time based upon building CNAs, energy-efficiency audits, and building inspections.    
• Collaborate with the Finance team to ensure timely invoicing and payments for the condo associations.  
• Provide property management expertise to the Real Estate Development team in due diligence in property acquisition and in the functional design of new construction and rehabilitation projects.  

Department Leadership:   

• Contribute and participate in a Property Management Leadership team to troubleshoot problems as they arise and suggest/initiate procedural changes as needed.  
• Represent Bellwether in a local association or stakeholder group, reporting back to the PM leaders on concerns and initiatives.   
• Embody Bellwether values of respect, integrity, community, and excellence in your work. Promote a culture of trust, mutual support, and accountability.  
• Champion and cultivate an inclusive work environment.  
• Work together with all Bellwether coworkers to learn effectively from and with each other, and to incorporate the lessons learned.   

Who You Are:  

Minimum Requirements:  

• BA Degree (years of experience may be substituted for education)  
• Minimum of 5 years’ successful experience as a Commercial Property Manager for an owner or 3rd party agent   
• Excellent written and verbal communication skills. Ability to communicate clearly and concisely, both orally and in writing.   
• Highly organized and strong attention to detail, capable of taking personal initiative in a project as needed, making sure all work is completed and of high quality.   
• Ability to analyze and interpret operating budgets, leases, and related documents.  
• In-depth and hands-on understanding of property management systems and processes.  
• Highly developed market analysis skills.  
• Seasoned and well-honed financial skills, able to apply financial modeling techniques and critical analytical frameworks to solve for effective real estate decisions and outcomes.  
• Experienced with strong negotiation skills and the ability to negotiate transactions to a successful conclusion.  
• Understands standard financial statements and can assess the potential creditworthiness of tenants.  
• Ability to interface with leasing brokers.  
• Ability to conduct walk-throughs, inspections, and complete site and building management activities.  
• Must be organized and task-oriented, able to work in a fast-paced, team-oriented environment with multiple deadlines, and adapt readily to changing priorities.  
• Ability to draft and write detailed notes, communicate with tenants, vendors, and contracted firms to prepare reports and presentations, and provide technical information in a clear and concise manner.  
• Excellent critical thinking skills  
• Ability to exercise discretion and confidentiality at all times.   
• Exceptional customer service aptitude, including problem-solving skills and the ability to respond quickly and tactfully to customer requests.  
• Collaborative leadership style and effective team builder  
• Proficient in Microsoft Office applications, specifically Excel, Word, and Outlook.  
• Conversant in local, state, and federal fair housing and landlord/tenant laws  

Desired Qualifications:  

• Proficiency with property management systems such as Yardi  
• Hold a real estate broker’s license in Washington state with experience in listing commercial spaces  
• Project management skills.  

Other Position Requirements:  

• A personal vehicle is not a requirement of this position. However, if using a personal or company-owned vehicle in the performance of job duties associated with this position, the incumbent must possess and maintain a valid Washington State Driver’s License, the appropriate amount of automobile insurance, and a safe driving record.   

What We Offer: Bellwether Housing is your platform for growth, empowerment, and purpose. When you join our team, you will receive: 

• Competitive compensation accompanied by a generous benefits package. 
• Medical, dental, and vision insurance. 
• A 403(b)-retirement plan with an employer match, guiding you towards a prosperous future 
• Fuel for your personal and professional development with up to $1,500 in employer-paid continuing education per year. 
• An ORCA Transit Pass to navigate the city with ease. 
• Up to 24 paid days off in your first year, prorated personal days renewed annually, and 8 paid office closure days. 
• The chance to be part of a transformative mission, leaving a mark on the lives of those we serve in our communities. 

At Bellwether Housing, you will elevate your career in a role that's as rewarding as it is impactful, where you’ll be part of a movement that is helping shape the future of affordable housing in Seattle and where diversity, equity, and inclusion are the pillars of our success.  

Note: This role requires successful completion of a background check in accordance with Seattle’s Fair Chance Employment Ordinance. 

Bellwether Housing is an equal opportunity employer. We will not discriminate based on race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws. We support the Americans with Disabilities Act (ADA) to reasonably accommodate all qualified applicants [and employees] by providing reasonable accommodations to people with disabilities.  

To request Reasonable Accommodation for the application or interview process, please contact [email protected]. Bellwether Housing is dedicated to building a diverse, equitable, and inclusive workplace. We value having employees whose skills, experiences, and backgrounds reflect the populations we serve. We are committed to being an anti-racist organization, while acknowledging we have a long way to go. You can learn more about our DEI work on our website.