Question: While attending college, I have been an on-site property manager for my apartment building. I collect rent, handle day-to-day problems of tenants and generally troubleshoot for the building owner. I want to look into commercial or industrial property management as a future job option. What resources can you recommend? I am particularly interested in shopping center management.
—Bob

Response: Property Managers who manage commercial and industrial properties for clients are in charge of leasing, renting, and maintaining or reconditioning property. In addition to preparing lease or rental agreements, they may advise clients about financing, purchasing, or selling property.

The property supervisor oversees a portfolio of properties and has ultimate accounting and decision making responsibilities. Managers may employ or contract for security, maintenance, and groundskeeping personnel; purchase supplies and equipment; direct preparation of financial statements and bookkeeping functions.

Commercial or industrial property manager can either be on-site for a large office building or shopping center or work as a portfolio manager who manages between fifteen to twenty smaller properties.

Employment Outlook:
Above average. Much faster than average growth is projected through 2008 for Property and Real Estate Managers.

Salary Range:
PROPERTY MANAGER
projected 2002 annual salaries in the Los Angeles area:
YEARS EXPERIENCE 10th PERCENTILE TIME SERIES MEDIAN 90th PERCENTILE
15 $ 52,568 $ 62,581 $ 78,602
10 $ 44,532 $ 53,015 $ 66,586
5 $ 35,464 $ 42,219 $ 53,027

Shopping Center World provides the following table of Market Competitive Base Salaries:

Leasing
Head of Leasing $132,000 – 220,000
Regional Head/Senior Leasing Rep   $ 97,500 – 162,000
Leasing Rep   $ 51,000 – 85,000
Specialty Leasing Rep   $ 55,000 – 91,000
Corporate Marketing Director   $ 62,344 – 103,906
On-Site Marketing Rep   $ 43,125 – 71,875

Construction
Director of Construction $121,875 – 203,000
Project Manager   $ 65,000 – 108,000

Development
Director of Developmentt $150,000 – 250,000
Regional Senior Development Professional   $105,000 – 176,000
Development Professional   $ 71,438 – 119,000

Operations
Director of Property Operations/Management $131,250 – 218,750
Regional Head/Senior Property Manager   $ 85,163 – 141,938
Operation Manager   $ 45,938 – 76,563
Mall Manager   $ 55,594 – 92,656

An annual report by Shopping Center World ranked the top 75 managers based on total shopping center/freestanding retail GLA managed through Sept. 30, 2001. The following are the first 10 listed, to which one can make a direct contact regarding employment opportunities:

1. Simon Property Group
115 W. Washington St., Indianapolis, IN 46204
(317) 636-1600/ F: (317)-685-7270
www.shopsimon.com

2. General Growth Properties, Inc.
110 N. Wacker Dr., Chicago, IL 60606
(312) 960-5000/ F: (312) 960-5475
www.generalgrowth.com

3. Jones Lang LaSalle
3500 Piedmont Road, Ste. 600, Atlanta, GA 30305
(404) 995-6300/ F: (404) 233-0871
www.joneslanglasalle.com

4. Kimco Realty Corp.
3333 New Hyde Park Rd., New Hyde Park, NY 11042
(516) 869-9000/ F: (516) 869-7250
www.kimcorealty.com

5. Urban Retail Properties Co.
900 North Michigan Ave., Chicago, IL 60611
(312) 915-1725/ F: (312) 915-2001
www.urbanretail.com

6. Westfield
11601 Wilshire Blvd., 12th floor, Los Angeles, CA 90025
(310) 478-4456/ F: (310) 478-1267
www.westfieldamerica.com

7. Trammell Crow Co.
2001 Ross Ave., Ste. 3400, Dallas, TX 75201
(214) 863-3000/ F: (214) 863-3138
www.trammellcrow.com

8. Developers Diversified Realty Corp.
3300 Enterprise Parkway, Beachwood, OH 44122
(216) 755-5500/ F: (216) 755-1500
www.ddrc.com

9. CBL & Associates Properties Inc.
2030 Hamilton Place Blvd., Ste. 500, Chattanooga, TN 37421
(423) 855-0001/ F: (423) 490-8662
www.cblproperties.com

10. Benderson Development Co., Inc.
570 Delaware Ave., Buffalo, NY 14202
(716) 866-0211/ F: (716) 866-2269
www.benderson.com

Professional Association and Resources
International Council of Shopping Centers
665 Fifth Ave., 11th Floor, NY, NY 10022
(212) 421-8181
(714) 224-3830 Southern California Chapter
www.icsc.org
This organization has individual and company members who are owners, developers, managers, retailers and suppliers of shopping centers. ICSC sponsors professional accreditation programs for Certified Shopping Center Manager (CSM), Certified Marketing Director (CMD), and Certified Leasing Specialist (CLS). Online they have many resources available, including a job bank. Membership is $100 per year for affiliates (individuals who are employed by a Regular or Associate Member or are an officer of a merchant association located in a shopping center of a Regular Member) and $800 per year for regular and associate memberships (companies engaged in development or management of shopping centers).
CEL and Associates
12121 Wilshire Blvd.
Los Angeles, CA 90025
310-571-3113/ Fax: 310.571.3117
www.celassociates.com
CEL & Associates, Inc. specializes in the following four areas: Strategic planning, compensation surveys, customer satisfaction surveys, and performance improvement in the real estate industry.
CoreNet Global
440 Columbia Drive, Suite 100
West Palm Beach, FL 33409
Ph: (800) 726-8111
Fax: (561) 697-4853
www.nacore.org
National Corporation of Real Estate Executives [NACORE] in conjunction with IDRC have finalized their integration into CoreNet Global (Corporate Real Estate Network) and are corporate executives responsible for any function related to the acquisition or management of real estate. Core Net Global provides its members with a variety of career placement and professional enhancement services, including a resume referral service and monthly placement newsletter. Membership is $450 per year. There is a Los Angeles chapter that holds monthly meetings and events
National Association of Real Estate Investment Managers (NAREIM)
11755 Wilshire Blvd., Suite 1380
Los Angeles, CA 90025-1531
310.479-2219; Fax: 310-445-2565
www.nareim.org
NAREIM provides educational and networking opportunities and many online resources for Senior Officers involved in real estate investment management. NAREIM membership is by invitation, directed at real estate organizations, which actively manage real property investments of a least $200 million or more.
NAREIT
1875 Eye St., NW
Washington, D.C., 20006
1-800-3-NAREIT
www.nareit.com
There are 1700 Real Estate Investment Trusts [REIT's] in the United States - including 73 in California and 46 in Southern California; these trusts are generally managed by professional real estate managers. The National Association of Real Estate Investment Trusts [NAREIT], an association formed primarily as a lobbyist group, offers education regarding companies, projects and professional contacts to its associate members. Membership Information: Primary $950.00 per year-The first individual to join NAREIT from each office of an organization. Associate membership is not available to employees of REITs and publicly traded real estate companies. Additional $550.00 per year-Each individual, subsequent to the primary member, to join NAREIT from a specific office of a specific organization. (Reduced dues not available for initial associate membership. To determine if you qualify for this membership category, please contact NAREIT's customer service team at 800-3NAREIT.)
Building Owners and Management Association [BOMA]
1201 New York Avenue, NW, Suite 300, Washington, DC 20005
202-408-2662/ Fax: 202-371-0181
www.boma.org
BOMA - Greater Los Angeles
700 South Flower Street, Suite 2325, Los Angeles, CA 90017,
213/629-2662/ Fax (213) 624-1031
www.bomagla.org
BOMA is an organization that serves the interests of commercial real estate and office building professionals in the Los Angeles area. BOMA provides research, social activities, public affairs resources, labor relations, a career center, and many publications to its members. BOMA offers educational programs including courses in management and fiduciaries of commercial real estate, annual seminars, symposiums and special events such as trade shows on real estate software. BOMA membership is firm-based, and must be member-sponsored. Regular Building Membership dues range depending on the type of building or shopping center.
The Urban Land Institute (ULI)
800/321-5011
Urban Land Institute, Los Angeles District Council
515 S. Flower Street, 32nd Floor
Los Angeles, CA 90071
Telephone: (213) 236-4882
Fax: (213) 236-4877
www.uli-la.org
ULI is a Washington, D.C. based organization which provides educational programs to its members, who are professionals in all disciplines and sectors of real estate-related industries. The Los Angeles District council can be reached at 310/576-0903. Membership fees vary, but an associate member/individual in the private sector pays $25.00 processing fee and $275.00 annual dues, public sector dues are $170 per year. Full members in the private Sector pay: $945/year; $150 one-time processing fee Public Sector: $310/year; $150 one-time processing fee
Shopping Center World
Intertec Publishing, 6151 Powers Ferry Road, Atlanta, GA 30339
(770) 955-2500
www.internetreview.com
Teresa DeFrank, Editor
1 yr/12 issues/$74.00
This trade publication reports on industry trends and includes a classified advertisement section with job listings.
RealEstateJobStore.com
Links to many real estate job sources including:
www.realestatefinancejobs.com
www.realestatemanagerjobs.com

— • —  
Susan W. Miller, M.A., is a National Certified Career Counselor, a Certified Vocational Evaluation Specialist and holds diplomate status on the American Board of Vocational Experts. She heads California Career Services, a private practice career counseling firm in Los Angeles.

You may e-mail questions to swmcareer@aol.com.