Manager, Properties & Commercial Development

About the Role

Reporting directly to the Deputy Aviation Commercial Officer (DAvCO) with a dotted line reporting relationship to the General Manager, JFK Airport (JFK GM), the Manager, Properties & Commercial Development, JFK Airport will lead the team that oversees John F. Kennedy International Airport properties and commercial development. The successful candidate, as a strategic leader of properties and commercial development fosters best-in-class standards for internal and external stakeholders; engages with industry peers and industry associations to learn and implement new strategies; mentors and provides guidance on commercial agreements and contract management; directs timely negotiation, execution, and enforcement of agreement terms and conditions; drives excellence establishing timelines and specific metrics of accountability for each portfolio; and drives revenue opportunities for the Port Authority.

Responsibilities

Team Leadership and Staff Development

• Develops a results-driven, accountable culture of continuous improvement within the unit, based on best business practices and best airport management practices, working across the team to further the agency’s objectives, proactively anticipate issues, understand other party’s perspectives, develop creative solutions, and employ a professional and persistent push transactions to closure across the Aviation Department and the Port Authority and with the business stakeholders.

• Maintains communication and collaboration channels with the NJ GM’s office and EWR leadership team, the TEB Manager, the EWR Terminal A Commercial Manager, and NJ Aviation Finance Team, and across the Aviation Commercial Unit.
• Leads regularly scheduled staff meetings communicating agency and departmental policies and announcements.
• Continuously works with staff to confirm project objectives, monitor project status, define strategy to close, identify project challenges, and redirect projects as appropriate.
• Reviews portfolio assignments across staff to confirm appropriateness for level of position, workload balance, and development opportunities across staff.
• Annually develops a proposed training plan for each member of staff which identifies skill set targeted for enhancement and identifies internal and intra-PA mentoring opportunities including training focused plans for staff to become proficient in the use of available technology.

• Coordinates with the Senior Program Manager, Commercial Policies & Business Performance (SPM-CPBP) in the development, and guides staff in the implementation of:
  • Leasing Processes & Procedures for standard and non-standard transactions that ensure timely delivery of consistent, well-rationalized business transactions which meet Authority objectives and Stakeholder needs.
  • Task lists/ Checklists with target timeframes for pursuing new, renewal lease and permit opportunities and supplements.
  • Tear sheets and background memoranda for documentation of and communication regarding transactions.
  • Templates for tracking project objectives, action plans, and progress and other documents for monitoring compliance with Standards

Strategic Preservation and Promotion of Revenues

• Under the guidance of the Aviation Chief Commercial Officer (AvCCO) and DAvCO and in coordination with the Manager, Commercial Development & Revenue Strategies and in consultation with the NJ GM, NJ Deputy GM, and TEB Manager, as applicable, develops airport specific Strategic Properties & Commercial Development Plans including the following:
  • Define and periodically confirm the Highest and Best Use of rentable facilities and space at the airport, incorporating long-term view of campus considering applicable redevelopment plans
  • Review market comparables based on defined criteria
  • Implement standardized market rates and escalation provisions and capital investment requirements when applicable
  • Identify and monitor current tenant occupancies, uses of airport properties, lease expiration dates, and anticipated use of property upon expiration of lease, taking into consideration highest and best use
  • Drive incremental revenues through leasing vacant airport properties
  • Identify and maintain log of unmet space and service demands
  • Establish a marketing plan for properties, where appropriate

• Oversees the administration of and ensures that the unit maintains the Strategic Properties & Commercial Development Plan as a living document.
• Provides strategic guidance for the preparation of annual revenues budget and long-range revenue forecasts, including validating assumptions made with respect to continued use of properties and other variances.
• Leads quarterly discussions with Aviation Finance to discuss near-term and long-term financial projections.

Governance Implementation

• Guides staff understanding of Aviation Business Policies, Rules and Regulations, other departmental requirements and governance initiatives (Standards) and monitors enforcement of Standards.
• Ensures that the unit uses standard form templates for term sheets and other permitting/leasing documentation and conducts negotiations in a manner that protects the PA interests.
• Proposes for consideration by AvCCO/DAvCO and SPM-CPBP, revisions enhancing business policies, rules & regulations, or governance initiatives, and updates to Standards to address evolving trends in the aviation industry and airport best managements practices.
• Proposes for consideration by AvCCO/DAvCO and SPM-CPBP, revisions enhancing standard form templates for term sheets and other permitting/leasing documentation and proposes agreement/permit enhancements for commercial leadership discussion with Port Authority Law.

Customer Service & Stakeholder Engagement

• Coordinates with AvCCO/DAvCO and SPM-CPBP to implement a framework of regular engagement with business stakeholders to promote dialogue regarding industry conditions and understanding of Port Authority initiatives and requirements with the goal of enhancing respectful working relationships.
• Leads assigned business stakeholder forums.
• Serves as facilitator, including preparation, for AAAC meetings and committee meetings.
• Establishes effective working relationships for collaboration across the units within the Aviation Department and across the Port Authority.
• Develops guidelines for Property Representative communications with and responses to business stakeholders and collaboration with Port Authority stakeholders.
• Maintains awareness of aviation and airport industry trends and identifies opportunities and challenges for the PANYNJ Airports based on those trends.

Minimum Qualifications

• Bachelor’s Degree from an accredited college or university.
• Five (5) + years progressively responsible experience in property and/or real estate negotiations, contracts, or business or financial analysis
• Experience developing, negotiating and managing leasing or revenue strategies.
• Staff management and project management experience.

Desired Qualifications

• Experience leading a Properties, Real Estate or Airline Affairs team at a medium or large hub airport
  • Knowledge of flight fee agreements, commercial property leasing and operating permits in an airport context
  • Strong analytical, problem solving and decision-making skills
  • Experience creating, investigating and interpreting complex financial analyses
  • Experience in creating and giving effective presentations to executive staff
  • Experience hiring, managing professional and technical staff responsible for conducting facility leasing and operating permit activities
  • Experience and understanding of board authorization approval process
  • Demonstrated experience in adapting to the demands of concurrently handling multiple diverse situations and operating effectively in the face of uncertainty and change
  • Capable of aligning professional goals with the needs and priorities of the organization

Selection Process

The application process varies by position, but typically includes an initial phone interview for qualified candidates, followed by a more in-depth interview(s) and/or assessment(s). Selected candidates who are made a conditional job offer will be asked to undergo a background check.

Compensation & Benefits

The Port Authority of New York and New Jersey offers a competitive benefits package, hybrid work options for many positions, and a professional environment that supports development and recognizes achievement.

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