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Bentall Green Oak, a leading global private real estate investment advisor, is looking for a strong candidate to join our Development team as a Senior Project Manager/Vice President of Cold Storage.

The Senior Project Manager/Vice President of Cold Storage will report to the Managing Director of Development and will be responsible for underwriting, closing, and overseeing the construction of development and redevelopment projects on behalf of multiple clients. The successful candidate will work closely with the company’s Asset Management team on strategic renovation, reposition, or physical repair projects across our growing portfolio. The VP will also support Bentall Green Oak’s Acquisition and Asset Management teams during the underwriting, negotiation and due diligence of new investment opportunities. This position also works closely with the firm’s portfolio managers who are accountable for the investment performance on behalf of our clients.

This position will be based in Bentall Green Oak’s Bethesda, MD or Los Angeles, CA office.

Company Summary

Bentall Green Oak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. Bentall Green Oak serves the interests of more than 750 institutional clients with approximately $74 billion USD of assets under management (as of December 31, 2021) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. Bentall Green Oak has offices in 28 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. Bentall Green Oak is a part of SLC Management, which is the alternatives asset management business of Sun Life.

Bentall Green Oak promotes a corporate culture that attracts and retains the highest caliber people. We encourage opportunities for growth, development and promotion by providing our employees with the resources to work effectively and continually strive to perform better. We are committed to a safe and sustainable work environment.

Position Responsibilities:

New Developments:

• Resolve any issues to secure permits and other governmental approvals while leveraging the resources of joint venture developer partners, to include reviewing project design for submission to local authorities having jurisdiction, meeting with project architect, engineers, zoning counsel and local authorities to ensure compliance with zoning, identifying need for variances, attending public hearings and meetings with local citizen groups, and negotiating proffers with public authorities.
• Oversee design development, pre-construction, and value engineering process with developer, architect, and contractors to ensure functional designs that meet market demand and which can be constructed within budget and schedule.
• Review developer’s proposed bidders and bid packages, review construction bids, select general contractor, review construction contract with advice from legal counsel, and ensure appropriate bonding and insurance coverage, in conjunction with Bentall Green Oak’s construction and insurance consultants.
• Work with Asset Management team to select leasing agent, review proposed marketing materials, and monitor build-out of tenant improvements and timely tenant move-ins.
• Work with Acquisitions team, developer, mortgage brokers and legal counsel to solicit and secure attractive acquisition, development, and construction financing when required by the client.
• Attend progress meetings and monitor construction progress to ensure compliance with project budget, schedule and quality standards of client and insurance carrier.
• Review and approve proposed change orders in consultation with the developer, architect, and construction consultant.
• Work with Bentall Green Oak’s capital controls team to review and approve funding requests and construction draws from developer.
• Enforce and protect the client’s rights and interests under the joint venture and development service agreements. Make recommendations to the portfolio manager regarding all major decisions, including any modification or restructuring of joint venture agreements, development services agreements, and any major service contracts.
• Provide project-level status reports to clients on a timely and accurate basis.
• Manage the transition of the project from Development & Construction Management over to Asset Management as the project nears substantial completion.
• Assist with developing a scope of work and hiring of consultants to carry out repositioning and capital improvement projects.
• Manage the execution and delivery of a repositioning and capital improvement effort. This may involve direct project management or overseeing the work of a third-party project manager.
• Lead the design process and assist with programming, conceptualizing, designing and executing property improvements targeted to reposition a property and/or increase value in the market.
• Oversee the value engineering/analysis process to advise team on appropriate balance between cost and quality suitable for the market.
• Lead project team and manage entire team of design and construction professionals (architect, engineers, expeditors, code consultants, contractors, brokers, etc.)
• Provide recommendations for project schedules and budget (hard and soft costs)
• Identify potential risk factors associated with the project and continually monitor project to mitigate potential impacts on project schedule, budget, or quality.
• Consistently assess the cost/benefits of redesigning a project against budget and schedule constraints.
• Manage general contractor RFP/bid process and negotiate contracts on behalf of Bentall Green Oak.
• Oversee general contractor throughout project and review/approve all change orders and subcontract award recommendations according to BGO’s bid and award process.
• Identify issues that impact schedule, budget, or design; communicate potential risks to team and work to solve problems to mitigate larger impacts.
• Assist in identifying and investigating construction defects or other physical repair needs, as well as optimal repair solutions.
• Review and advise on technical reports commissioned by Asset Management team.

Acquisitions / New Developments:

• Direct the technical due diligence process in support of new acquisitions.
• Assess the viability of plans, budget and schedule of prospective projects on behalf of a variety of clients.
• Track industry trends to ensure Bentall Green Oak is aligned with Cold Storage user/tenant objectives as the market grows and evolves; share and apply expertise and knowledge throughout the organization.
• Introduce Cold Storage business relationships to our organization and bring a strategic perspective to position Bentall Green Oak as partner of choice for Cold Storage projects
• Review project feasibility studies and seek input from Bentall Green Oak’s market research group.
• Assist in the preparation of an initial review of development opportunities for presentation to Bentall Green Oak’s portfolio managers at weekly Pipeline discussions.
• Assist in the preparation and presentation of Investment Memoranda to Bentall Green Oak’s Investment Committee for approval, and where appropriate, directly to the client.
• Review status of entitlements, zoning, title, survey, land purchase agreements, and construction contracts, with assistance from legal counsel.
• Review project costs and schedule, and environmental, geotechnical, and construction studies and reports, with assistance from consultants.
• Assist in the negotiation of land purchase contract, joint venture agreement, and development services agreement with landowner and prospective developer partner, with assistance from legal counsel.
• Present summary findings of due diligence and recommendations to client for final approval.
• Negotiate any required changes to contracts and close land contract and joint venture documents.

Education and Experience:

A four-year college degree in engineering, architecture, or construction management is preferred, and a graduate degree in business, real estate, or finance is a plus. Candidates should have at least ten years of experience in the fields of design, development, construction/project management with direct experience in the cold storage sector, and will have worked for a developer, general contractor, REIT, opportunity or value-add fund, real estate advisor, or similar organization.

Essential Qualifications:

• Experience in leadership role on no less than 5 completed cold storage and/or food and beverage processing projects (project list and references to be provided upon request).
• Ability to self-perform as a project manager of ground-up development and renovation projects.
• Ability to analyze and interpret drawings/specifications, building codes, and governmental regulations.
• Ability to manage a project through the planning approval and entitlement process.
• Experience running bidding and vendor selection process.
• Experience on complex construction projects with demonstrated budget/schedule performance while maintaining multiple contractor relationships.
• Experience with management of joint venture partnerships.
• Understanding of financial modeling and budgeting of development projects.
• Demonstrated mastery in the operations of general contractor or design-build firm.
• Embraces a team oriented and collaborative work style.
• Thrives in a varied work environment, managing several projects at once.
• Ability to travel throughout the United States on a frequent/regular basis.

The compensation plan for this individual will be commensurate with the skills required of the position and will be negotiated to attract exceptional candidates. The total rewards package will be comprised of a competitive base salary, annual incentive plan, and health plan.

This position does not provide visa sponsorship. Candidates must be authorized to work in the United States without sponsorship.

Estimated compensation for this position:

165,000.00 – 235,000.00 USD per year

This range is an estimate and actual compensation may differ. Final compensation packages are determined by various considerations including but not limited to candidate qualifications, location, market conditions, and internal considerations.

Location:

On-site –Bethesda, MD

If this job description resonates with you, we encourage you to apply, even if you don’t meet all the requirements. We’re interested in getting to know you and what you bring to the table!

Personalized benefits that support personal well-being and growth:

JLL recognizes the impact that the workplace can have on your wellness, so we offer a supportive culture and comprehensive benefits package that prioritizes mental, physical and emotional health. Some of these benefits may include:

• 401(k) plan with matching company contributions

• Comprehensive Medical, Dental & Vision Care

• Paid parental leave at 100% of salary

• Paid Time Off and Company Holidays

• Early access to earned wages through Daily Pay

At JLL, we harness the power of artificial intelligence (AI) to efficiently accelerate meaningful connections between candidates and opportunities. Using AI capabilities, we analyze your application for relevant skills, experiences, and qualifications to generate valuable insights about how your unique profile aligns with the specific requirements of the role you're pursuing.

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