Applied Industrial Technologies · 5 days ago
Real Estate Specialist
Cleveland, OH
Full-time
Onsite
Entry Level
1+ years expApplied Industrial Technologies is a leading value-added distributor and technical solutions provider of industrial technologies. The Real Estate Specialist will coordinate lease renewals, negotiate terms with landlords, and manage financial reporting related to rent and lease agreements.
Wholesale
Responsibilities
Proactively coordinates with field leadership in advance of lease expiration to understand lease renewal needs and wants
Negotiates lease renewals with landlords using market data as a guide
Prepares lease abstracts and other documentation for Executive Management review and execution
Manages real estate brokers in cases where external support is a benefit or a requirement
Works with the Applied Legal group to ensure business best-in-class terms & conditions are incorporated within lease agreements
Negotiates lease abandonment terms with landlords, and facilitates the resulting internal accounting transactions
Facilitates the purchase and sale of owned properties
Executes monthly rent and “extra rent” payments using lease payment software systems; reconciles any/all discrepancies
Facilities financial reporting activity relating to rent accrual, pre-paid rent, rent deposits, abandoned lease reserve, and deferred rental income account accruals
Prepares and presents annual rent payment documentation to Tax Department for preparation of 1099’s to be sent to landlords
Manages allocated rent processes for owned locations
Maintains a tracking system of lease details including expiration dates, rates, and other pertinent information essential to the effective management of the portfolio
Maintains digital database of company locations (i.e. updates database, communicates new locations, location moves, and closings/mergers
Tracks and reports the number of operating locations and owned/ leased facilities for annual reporting purposes
Participates in the annual preparation and submission of department budgets
Oversees centralized site utility payment program; reconciles monthly consolidated invoice payment
Other duties as assigned
Qualification
Required
Must have High School diploma or equivalent
Must have a minimum of one year of experience in contract writing and/or property management experience
Preferred
Bachelor's degree preferred
Company
Applied Industrial Technologies
Founded in 1923, Applied Industrial Technologies is a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies.
5001-10000 employees
Funding
Current Stage
Late StageLeadership Team
David Wells
VP - CFO & Treasurer
Kelly Massee
Business Partner
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