Senior Asset ManagerAbbVie - Contractor Position • San Mateo, CA, United States

Senior Asset Manager

AbbVie - Contractor Position • San Mateo, CA, United States

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Overview

Sares Regis Group of Northern California (SRGNC) offers a broad scope of residential and commercial real estate development management services. With our principals having over 40 years of experience providing real estate services in the San Francisco Bay Area, Sares Regis has assembled a staff of remarkable talent from a wide range of related development backgrounds including urban and master planning, entitlements, architecture, various engineering disciplines, construction, project management, real estate development, asset management and financial services. We have developed over 21 million square feet of commercial, residential and mixed‑use properties, primarily located throughout the San Francisco Bay Area. Our portfolio consists of a combination of operating assets, developments of our own and fee‑based consulting and management services for clients.

The Role

The Sr. Asset Manager will be responsible for the strategic planning, financial performance, and operational oversight of a designated portfolio of leased and owned assets, comprising primarily corporate offices, but also land, warehouse, and other asset types. This role focuses on maximizing the value and utility of our client’s assets and leases in a sub‑market, ensuring they align with the company's operational needs, financial objectives, workplace strategy, and long‑term real estate goals. In collaboration with the transactions and facilities teams, the Sr. Asset Manager will proactively manage lease negotiations, oversee property operations, analyze financial performance, and contribute to the overall corporate real estate strategy. Where a property is not in operational use, the Sr. Asset Manager will directly manage property management services.

The Sr. Asset Manager will be part of an Asset Management Team, and each Asset Manager will work in close partnership with a designated Client Real Estate Asset Manager and Sr. Asset Manager in service of their assigned portfolio of assets.

Responsibilities

Strategic Asset Planning

Develop and implement comprehensive asset management plans for each assigned non-core property, outlining strategies for value enhancement, cost optimization, and alignment with business requirements.
Analyze non-core portfolio performance and identify opportunities for income leasing, subleasing, or disposition based on market conditions. Understand the book value, current market value, and value drivers of all non-core assets.
Understand the lease terms, landlord versus tenant obligations, and risk points of all leases.

Execution Responsibility

Support non-core asset strategy execution in the submarkets : Developments, Acquisitions, Dispositions, Entitlements, Leasing, Asset Management, Property Management, etc.

Ensure Client’s proprietary interests are protected at all times.

Review analyses, legal documents, contracts, plans, and all other relevant documents to support recommendations and approvals.

Compliance

Maintain a culture of strict confidentiality and probity amongst the team.

Coordinate with Client’s portfolio manager, PR, Poly and Communications teams to mitigate PR risk.

Collaborate with Client’s outsourced service providers for transactions, development services, and property management, ensuring adherence to Client policies and procedures.

Financial Management & Analysis

Prepare and manage annual operating budgets, capital expenditure plans, and forecasts for assigned properties.

Prepare, manage, and track capital projects and expenses, including mid-year reforecasting.

Prepare asset cost-saving recommendations and execute in coordination with portfolio managers, property managers, and transaction team members.

Monitor financial performance against budget, analyze variances, and provide regular reporting.

Perform financial analysis (NPV, IRR, payback) for proposed leases, capital projects, and other real estate transactions related to assigned properties.

Review and approve property-related expenses and ensure accurate cost allocation.

Lease Management & Negotiation

Support leasing activities as assigned, including new leases, renewals, extensions, amendments, subleases, and terminations.

Perform ad-hoc analyses for termination, restoration, sublease, monetization, and portfolio optimization workflows.

Review and track tenant close-out packages for accuracy and summarize findings for Portfolio Manager approval.

Support the planning and execution of capital improvement projects, tenant improvements, and office fit-outs.

Ensure compliance with all lease obligations (both landlord and tenant).

Property Operations Oversight

Monitor and manage operations for assigned properties, ensuring assets are well-maintained, safe, and operate efficiently.

Liaise effectively with Client’s third-party property managers.

Support the planning and execution of capital improvement projects, tenant improvements, and office fit-outs.

Tenant Relations

Frequently visit properties. Walk sites and meet with tenants, landlords, local authorities, and neighbors.

Build strong relationships and a deep understanding of tenants.

Stakeholder Collaboration & Reporting

Build strong relationships and collaborate effectively with internal stakeholders, including Finance, Legal, Workplace Services, Planning, Real Estate Design and Delivery.

Prepare and present regular reports on portfolio performance, key metrics (e.g. income, operating and capital expenses) and market conditions.

Manage relationships with Client’s other vendor partners such as brokers, property managers, and other consultants.

Qualifications

Required Qualifications

Bachelor’s degree in Real Estate, Finance, Business Administration, or a related field.

Minimum of 7 to 10 years of progressive experience in corporate real estate, commercial asset management, or commercial property management.

Ability to work independently and operate with exceptional autonomy and judgment, end-to-end execution of complex real estate solutions and projects with minimal oversight, and proactively contributing to innovative, value-accretive strategies for the non-core portfolio.

Strong financial acumen and sophisticated financial modeling skills, including expertise in preparing and managing annual operating budgets, quarterly forecasting, and performing detailed financial analysis such as NPV, IRR, and DCF. This capability extends to complex underwriting and using investment-grade tools like Argus Enterprise.

Proven track record in managing a portfolio of leased and / or owned office assets.

Demonstrated experience in negotiating complex commercial office leases.

The role is in person at the office 5 days a week, excluding project travel.

A personal vehicle, valid U.S. driver’s license, and auto insurance are required.

Preferred Qualifications

Master’s degree (MBA or Master’s in Real Estate).

Professional certifications such as MCR (Master of Corporate Real Estate), CPM (Certified Property Manager), or RPA (Real Property Administrator).

Solid understanding of office property operations, building systems, and capital project management.

Experience working with large landlords and local jurisdictions in the Bay Area.

Strong communication, presentation, and interpersonal skills, with the ability to interact effectively at all levels of the organization.

Ability to work independently, manage multiple priorities, and meet deadlines in a fast-paced environment.

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