| Position Overview:
The University of Minnesota’s Real Estate Team within Planning, Space, and Real Estate provides real estate leadership and services to the University of Minnesota System (Twin Cities, Duluth, Morris, Crookston and Rochester Campuses and numerous research and outreach centers). The Real Estate Specialist position is responsible for (1) the negotiating, processing, and management of short term use agreements; (2) assisting with standard leases and license agreements as assigned; (3) updating and maintaining the University Lease Inventory Database and annual Lease Report; and (4) special projects as assigned. The Real Estate Specialist reports to the Director of Leasing and Property Management.
Responsibilities: 50% – Short term use agreements: - This position is responsible for negotiating, processing and management of short term use/license and hotel/venue agreements. This work entails working with various University departments as well as non-University entities to assist in preparation/review/approval of the appropriate agreement for the use of space. Responsibilities include:
- Ensuring the business terms are acceptable, legal review is completed (by Office of the General Counsel), and insurance terms are acceptable (with Risk Management’s assistance). When necessary, produce an Approval Authority letter. These use/license and hotel/venue agreements include situations where the University is either the landlord or the tenant.
- Managing all outdoor space use requests made by Non-University Entities. This includes but is not limited to coordinating with all the necessary internal departments/external entities for approval of the request.
- Managing other short term agreements, which could include Temporary Construction Agreements, Access Agreements, and Co-sponsorship Agreements.
- Providing training to University departments on leasing policies and procedures for short-term use agreements in coordination with the Office of General Counsel to resolve problems and answer questions.
20% Lease/Transaction Support: - The Real Estate Specialist will assist the Director of Leasing and Property Management and the Senior Real Estate Specialist with other lease transactions as assigned, including lease renewals and extension letters; calculate rent increases as needed. Other agreements including, but not limited to, Facility Use Agreements, Utility License Agreements, Permits, Air Rights Agreements and Access Agreements
20% Information Management: - The Real Estate Specialist is responsible for collecting information, updating and maintaining the University Lease Inventory Database, from which the leasing team manages all University leases for rents, renewal terms, option dates, terminations, etc.. From this database, the leasing team compiles the University's annual Fiscal Year Lease Report which is provided each year to University senior leadership, as well as Accounting Services. The position is also responsible for the collection, review, and entry of certificates of insurance for all lease agreements, and maintaining an availability list of all off-campus space in the vicinity of the Twin Cities Campus for short-term and long-term rental.
10% Special Projects:
- The Real Estate Specialist represents the Real Estate Office on other University Projects as assigned, which could include development of procedures to increase efficiencies, research projects, property evaluations, market studies, and liaison to other University departments.
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