Lease Administrator

Whole Foods Market

Whole Foods Market is the world’s leader in natural and organic foods, with more than 310 stores in North America and the United Kingdom.  We seek out the finest natural and organic foods available, maintain the strictest quality standards in the industry, and have an unshakeable commitment to sustainable agriculture. Add to that the excitement and fun we bring to shopping for groceries, and you start to get a sense of what we’re all about. We’re a mission-driven company too. We often talk about our mission in terms of Whole Foods – Whole People – Whole Planet. Basically, we think these elements all play a huge role in our success.

We are currently searching for a Lease Administrator.  This position directs the company’s CAM/Tax reconciliations for key Regions of WFM and performs other related lease administration functions.  Resolves day to day landlord issues related to CAM, tax, sub-tenant and percentage rent, assists in developing annual budget related to these items.  Conducts majority of desk-top audits and administration of account reconciliations received from landlords including, but not limited to, review and computation of percentage rent, common area maintenance (CAM), insurance, subtenant billings and property tax billings.  Monitors co-tenancy status for all WFM locations to ensure compliance with lease provisions. Responsible for subtenant billing, collections and reconciliation of AR sub-ledger to general ledger.  Coordinates and processes payment for operating and maintenance expenses for excess space.  Provides reporting and analysis to enable critical lease decisions. 

Will Do:

1. Review and abstract lease-related documents for all assigned locations on a timely basis, ensuring lease database is accurate and current. Understands and interprets lease language for CAM, Tax, Insurance, subtenant and percentage rent clauses.
2. Perform CAM lease audits and reconciliations for assigned locations annually per the lease.  Communicate results of audits and recommendations to global and regional leadership.
3. Coordinate all payments to landlords related to percentage rent, CAM, insurance, and taxes for assigned locations.  Monitor account statements to ensure all payments are appropriately applied.
4. Prepare monthly subtenant invoices and ensure reconciliation between sub-ledger and general ledger. Report on subtenants in default and monitor collection status.
5. Track all information related to subleases for assigned locations.  Perform billing and collections including maintaining accounts receivable status in conjunction with central accounting.  Calculate and adjust subtenant escrows as required.
6. Coordinate and process payment for operating and maintenance expenses for excess space.
7. Monitor physical property condition of excess space and coordinate repairs and maintenance as required.
8. Participate in quarterly budget process for RE Tax and CAM expenses
9. Work with global/regional leadership to design a monitoring mechanism to ensure co-tenancy status of all locations is in compliance with lease requirements.
10. Work directly with other regions/teams to develop expertise in Lease Harbor and lease language.
11. Support business partners at both Global and Regional offices, providing lease interpretation and analysis.
12. Resolve day-to-day lease occupancy issues with landlords as needed and directed by global and regional leadership, including all issues related to CAM, taxes, insurance, subtenant, and percentage rent items.
13. Implement collections and negotiations with landlords as needed and directed by global/regional leadership.
14. Maintain a thorough knowledge of the lease and sublease provisions for CAM, insurance, taxes, percentage rent and co-tenancy. 
15. Coordinate work with Senior Lease Administrator and other Lease Administrators to ensure company’s lease administration function is performed timely and accurately.
16. Performs other related duties as assigned.

  For more information and to apply, please go to www.wholefoods.com.

(Posted on: Feb 20, 2012)