Senior Director of Leasing Operations

The Massachusetts Bay Transportation Authority is the second-largest landholder in the Commonwealth of Massachusetts, behind the Commonwealth itself. MBTA properties and assets primarily serve operational needs but are increasingly used for transit-oriented development. The Senior Director of Leasing Operations supports the management and development of MBTA real estate assets in commercial development. The Senior Director will identify MBTA real estate for potential development opportunities while ensuring the Authority’s operational needs are considered and met. The Senior Director will identify and manage opportunities to maximize non-fare revenue from its real estate assets. The Senior Director assists with the Authority’s real estate strategic planning, assessing the current portfolio’s utilization and highest-use requirements, including relocations, leasing, and acquisitions. In addition, the position will oversee master leases, third-party contracts, air rights, deeds, and other agreements. The Senior Director will work collaboratively with other state agencies to pursue the Governor's goals while ensuring the necessary asset capacity for all MBTA operations. The Senior Director also oversees the team responsible for acquiring property rights for MBTA service expansion (new facilities, new rail lines, new infrastructure for accessibility compliance, and new/expanded maintenance facilities, etc.).

• Leasing and Operations:
  1. Oversee major MBTA institutional leases, including transportation hubs and high value commercial assets, ensuring portfolio-wide revenue optimization.
  2. Develop and execute standardized leasing policies, rate structures, and internal deal review processes.
  3. Lead leasing outreach and cultivate partnerships with community and small business development organizations to support an economic ladder of opportunity.
  4. Oversee licensing operations and the geography information system (GIS) and support the right-of-way team and associated easement work.
  5. Provide transaction support and negotiation assistance for lease-related agreements with private developers and subtenants.
• Identify MBTA real estate appropriate for development or outright sale by understanding the value of each location and the opportunities for growth that these sites create.
• Meet regularly with MBTA Department heads, Chief of Capital, and Chief of Stations and Facilities to coordinate real estate needs and provide analysis and input on real estate initiatives.
• Maintain current market knowledge and provide data-driven input to inform the strategic decisions and direction of the MBTA.
• Provide internal acquisition advisory services to Capital Delivery project teams, Railroad Operations teams, Safety, Systemwide Accessibility, and others.
• Develop and maintain adequate real estate assets to meet the MBTA’s operational goals. Generate and review all development proformas to identify risk profiles.
• Review requests for use of the MBTA’s property, negotiate and issue new leases, licenses, and easements pursuant to a canvassing review process.
• Manage real estate transactions, including deeds, leases, licenses, and easements.
• Manage the MBTA’s portfolio of leases, licenses, and management agreements for retail concessions, utilities, telecommunications, and land use, as well as the acquisition of new property.
• Develop and maintain adequate real estate assets and respective operating and capital expense budgets to meet the MBTA's operational goals.
• Conduct due diligence on properties identified by MBTA departments to meet operational and infrastructure goals.
• Negotiate leases, sales, and disposition on behalf of the Authority.
• Develop Requests for Proposals and Invitations to Bid for selected properties and facilities, as well as other documents, including leases, licenses, easements, and fee deeds.
• Work with the Capital Department project managers to review the impact of projects on MBTA real estate to support advertising of construction projects.
• Perform outreach to internal and external stakeholders and address concerns while providing a solution-based approach.
• Represent the Authority and Administration's goals to impacted communities, developers, brokers, and other interested parties.
• Conduct external engagement with the development community and municipal partners to maximize development potential.
• Perform all other duties and projects that may be assigned.

Supervision

• Direct supervision of a team of 14 contractors, a future real estate manager, and others as the program builds out.

• Bachelor’s degree from an accredited institution in real estate, urban planning and/or development, economics, business finance, engineering, architecture, public administration, or a related field.
• Ten (10) years of experience with real estate development life cycle, including planning, designing, financing, and construction.
• Seven (7) years of experience in supervisory, managerial, and/or leadership.
• Demonstrated experience evaluating and advancing development opportunities for large or complex real estate assets and conducting and presenting strategic portfolio analysis, asset utilization, and financial feasibility.
• Knowledge of real estate regulations of government and public agencies, such as Federal Transit Administration (FTA) and Federal Railroad Administration (FRA).
• Working knowledge of finance and budgeting.
• Demonstrated experience negotiating complex real estate-related business deals.
• Excellent oral and written communication skills including presentation skills.
• Proficient use of Word, Access, Excel, and PowerPoint.
• The ability to handle sensitive and confidential information in an appropriate manner.
• Excellent customer service, interpersonal, presentation and conflict resolution skills.
• Strong ability to work independently and manage multiple priorities in a fast-paced environment.
• Excellent consulting, influencing and communication skills.
• Strong attention to detail required.

• A High School Diploma or GED with an additional seven (7) years of directly related experience substitutes for the bachelor’s degree requirement.
• An associate degree from an accredited institution and an additional three (3) years of directly related experience substitutes for the bachelor’s degree requirement.
• A master’s degree in a related subject substitutes for two (2) years of experience.
• A nationally recognized certification, or statewide/professional certification in a related field substitutes for one year of experience.

Preferred Experience and Required Skills

• Master’s degree from an accredited institution in real estate, urban planning and/or development, economics, business finance, engineering, architecture, public administration, or a related field.
• Public sector experience and knowledge of state processes.
• Senior management experience in a large organization.
• Experience with real estate-related database, property management, and GIS software.