Manager of Lease Administration
Founded in 2012, Peloton is an innovative tech company that has transformed the at-home fitness experience. Peloton uses technology and design to connect the world through fitness, empowering people to be the best version of themselves anywhere, anytime.
As a company Peloton believes in taking risks and challenging the status quo by continuously innovating and improving. We put our users, members, and customers first and we obsess over every touch point of the member experience – be it the studio, product or showroom. We like to hire the best and encourage all our associates to be Peloton’s brand ambassadors. Most importantly, we know that together we go far.
Reporting to the Vice President of Real Estate, this role will oversee lease administration across retail, office, warehousing, and studios.
RESPONSIBILITIES AND REQUIREMENTS:
- Collaborate with legal, finance, and real estate teams to manage existing portfolio needs; review lease extensions, renewal options and rent reductions, modify and extend tenant termination options, and amend agreements for additional tenant allowance.
- Oversee lease administration; manage all key lease dates for Peloton portfolio, help communicate all lease obligations internally, help handle all correspondence with Landlord.
- Design/manage reporting system to track key lease dates; abstracted leases, manage lease expirations, renewals, kick outs, radius restrictions and co-tenancy conditions.
- Work with development and legal team, coordinate lease compliant delivery of space. Identify material lease non-compliance and prepare Notice of Lease Violations to Landlords.
- Post lease execution, actively manage and coordinate with the Finance department to ensure all necessary documents and payments (security deposit, prepaid rent, etc.) are sent to and received by the Landlord and sent to the respective internal parties.
- Post Real Estate Committee approval, ensure the Construction Management System and Lease Management System is updated with all necessary and final LOI/deal information.
- Coordinate with third-party lease abstraction service to ensure all recently signed leases, amendments, and associated lease correspondences are correctly abstracted and uploaded into our tracking system.
- Actively maintain and manage our tracking system to ensure all information is correct and up-to-date.
- Assist in designing and producing standard and ad hoc reports.
- Actively maintain and manage all lease related documents - including landlord contact lists, landlord’s financial information, insurance certificates, licenses, etc.
- Analyze leases for rent cost savings where appropriate, including, but not limited to, co-tenancy clauses, delivery date penalties, etc.
- Partner with construction team in collecting construction allowances, including gathering accurate documentation in full compliance with leases.
- Coordinate all lease and ancillary document signature processes. This is including, but not limited to, Estoppel Certificates, Subordination, Non-Disturbance, Attornment Agreements, and Commencement Date Agreements.
- Field and research internal and external inquiries regarding tenant leases, tenant charges, and tenant or landlords rights.
- Entrepreneurial drive with a clear sense of urgency to achieve results, ability to work within tight timelines, and a “roll up your sleeves” approach.
- Eager to challenge the status quo of traditional retail.
- Ambitious, hardworking, team-oriented, and deeply passionate about fitness and technology.
- Highly organized with excellent time management skills.
- Highly proficient with MS Software (Word, Excel, Powerpoint).
- Experience working with Lease Admin software.
- 3-5 years of retail real estate industry or general lease admin experience.
- College Degree required.
At Peloton, the health and well-being of our employees is of the utmost importance to us. In addition to a competitive base salary with generous bonus potential, we are proud to offer a comprehensive benefits plan and paid time off to all full-time employees. Peloton is an equal opportunity employer and hires only on the basis of skills and experience.
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