SITE Centers is an owner and manager of retail real estate, with a premier portfolio of open-air shopping centers located in the most desirable locations across the United States. The Lease Accounting Analyst will manage and maintain lease agreements, ensuring compliance and accuracy in lease terms, and will play a critical role in tenant billing and lease renewals.
Responsibilities
- Review lease portfolio to ensure retail leases are in compliance with ASC 842 – Lease Accounting Standard (FASB)
- Administer and manage a portfolio of retail leases, ensuring accuracy and compliance with terms and conditions
- Maintain up-to-date lease files within a centralized database, ensuring all documentation, critical dates and other lease related materials are accurately recorded and logically organized
- Review and interpret lease agreements to facilitate precise tracking and comprehensive reporting
- Collaborate with internal and external stakeholders to address inquiries, provide clarification on lease-related matters, and equitably resolve disputes and discrepancies
- Upon the execution of lease documents within assigned portfolio, abstract material clauses such as critical dates and financial and performance obligations
- Refine existing abstracted notes as necessary on an on-going basis
- Oversee the calculation and billing (to the G/L) of all lease related charges and revise as necessary based on amendments and other documents
- This includes Rent and Additional Rents, including not limited to Base Rent, Operating Expense Revenue (CAM, Real Estate Tax & Insurance, etc.), Percentage Rent, Overage Rent, CPI Adjustments, Co-Tenancy/Alternate Rents, and Direct Tenant Billings
- Evaluate present and proposed tenancy conditions for designated portfolio and maintain on-going knowledge of various occupancy requirements and use restrictions
- Conduct feasibility studies for prospective deals to identify and anticipate any potential violations
- Collect, record, monitor and report gross sales amounts as provided by Tenants to maintain compliance with Sales Reporting and Percentage Rent requirements as outlined in lease agreements
- Process adjustments to tenants’ accounts after researching lease language and reconciling billings by generating calculation support of findings in Excel
- Works cross-functionally with business partners to resolve tenant disputes or other inquiries in a timely manner
Skills
- Knowledge of Commercial Real Estate Lease Structures (Retail preferred)
- Prior experience drafting leases and performing lease abstracts
- Problem-solving and analytical skills required, with the ability to interpret complex lease documents and identify key provisions
- Organizational skills and ability to multi-task; efficiently managing a large volume of lease documents and tracking critical dates
- Experience with Microsoft products, MRI, or other related real estate accounting and project management software
Company Overview
SITE Centers is an owner and operator of retail real estate whose portfolio consists of open-air properties in the most convenient locations of the wealthiest suburbs in the U.S. It was founded in 1965, and is headquartered in Beachwood, Ohio, US, with a workforce of 201-500 employees. Its website is https://sitecenters.com.