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Job Description

Job Description

Property Specialist - Property / Real Estate Management

Job ID 1607523BR Date posted 06/08/2019 Location Mooresville, NC Location Name CSC-Mooresville Address 1000 Lowes Boulevard Employment Type I Regular Employment Type II Full-Time Line of Business Corporate Department 0013 - REEC Operations

PURPOSE OF ROLE:

The primary purpose of the Property Administrator is provide front-line problem-solving during the review and processing of payments, receivables, and reconciliations related to leases and CAMs for approximately 500 locations to minimize potential budget variances within their assigned location. This position is responsible for the initial setup of location information in the Location Management system within their assigned division. Additionally, this position is responsible for working with the Director Real Estate and RE Finance group during the development of the annual common area maintenance (CAM) budget.


RESPONSIBILITY STATEMENTS:

  • Manages the review and processing of all payments, receivables, credits and reconciliations related to leases and CAMs in line with original terms and conditions
  • Obtains CAM reimbursements and reconciliations due to Lowe’s from 3rd parties
  • Coordinates with Finance to ensure payments are processed, accurate and adjusted as required
  • Obtains appropriate Management level approvals for manual (one time) payments
  • Provides necessary reports (forecast, actual, exceptions) to the Director Real Estate and Property Managers during the financial budget process for CAM, reconciliations, new store expansion, and relocations that reduce cost and deliver business objectives
  • Develops custom reports in the Location Management System as needed
  • Manages the initial new location setup, entry of financials (payments, receivables, options, etc.) in the Location Management System
  • Maintains the event/task calendar in the Location Management System
  • Supports the Property Managers in maintaining the integrity of the Location Management System, ensuring information (financial and non-financial) is current and accurate as a business support tool
  • Supports the Director Real Estate in the collection of Notice of Reimbursement or Disbursement Agreement (NRDA) funds
  • Assists the Property Managers in monitoring ancillary agreements such as covenants, restrictions, easements, requirements, and payment schedules that impact stores
  • Assists in the review of location documentation to make certain all reimbursement obligations have been captured
  • Serves as the liaison between Real Estate and landlords, developers, 3rd party management companies, 3rd party auditors, Lowe’s store personnel, and other Lowe’s business groups
  • Composes 3rd party correspondence.
  • Adheres to all departmental operational guidelines and procedures to include use of technology systems such as Location Management, Asset Management, Incident Management and Central Repositories


REQUIRED EDUCATION/EXPERIENCE:

  • High School Diploma
  • 5 years of experience in Corporate/Commercial Real Estate
  • 5 years of experience reviewing Real Estate documents
  • 5 years of experience in property accounting, expense billing practices, reconciling CAM payments and property management activities
  • 1 year of experience in lease administration applications
  • 1 year of Microsoft Office experience


PREFERRED EDUCATION/EXPERIENCE:

  • Bachelor's Degree in Business Administration or Finance
  • Certified Professional Property Administrator



About Lowe’s:
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 18 million customers a week in the United States, Canada and Mexico. With fiscal year 2018 sales of $71.3 billion, Lowe’s and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ approximately 300,000 associates. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports its hometown Charlotte region and all communities it serves through programs focused on safe, affordable housing and careers in the skilled trades. For more information, visit Lowes.com.

Lowe’s is an equal opportunity affirmative action employer and administers all personnel practices without regard to race, color, religion, sex, age, national origin, disability, sexual orientation, gender identity or expression, marital status, veteran status, genetics or any other category protected under applicable law.

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