Development Analyst

Date:  Aug 5, 2022
Property:  111 INNOVATION (0010)

Irvine, CA, 92617

Division:  Office (Office)
Req ID:  40448

Position Summary:

Irvine Company Office Properties owns and operates a sizable and rapidly expanding self storage portfolio and is seeking a Development Analyst to support acquisition and development of new projects and for managing and reporting on the operating portfolio. The position requires candidates who are highly analytical, entrepreneurial and self-starting with the ability to source and underwrite new development and acquisition opportunities, primarily focused in Southern California. He / she will report to the Senior Director, Development and coordinate with the Company’s third party self storage operator and internal design & construction, finance and accounting teams.

Job Duties:

  • Underwrite potential self-storage acquisitions and development opportunities
  • Research existing and potential new markets, and assess market data and trends, demographic data, competitor information, and supply and demand fundamentals.
  • Research market rates and occupancy information used in self-storage competitor studies.
  • Prepare detailed pro forma underwriting for acquisition and development projects and monitor actual performance versus approved underwriting
  • Develop and maintain a database of self-storage facility transactions (“comps”) to assist with the acquisition of new sites and ongoing valuation of existing sites.
  • Inspect potential self-storage acquisition facilities (local travel required) and shop trade area competitors.
  • On a bi-weekly and monthly basis: create, consolidate, and disseminate operational, financial, and accounting reports to internal parties potentially including the Company’s Senior Leadership.
  • Assist with maintaining project schedules for numerous projects.
  • Engage with 3rd party brokers to help identify opportunity sites and prepare initial diligence.
  • Schedule, engage and coordinate 3rd party inspections including engineering studies, appraisers, and other property inspectors.
  • Frequent engagement and liaison with Irvine Company’s 3rd party operator to track rental rates, Operating Expenses, lease-up targets, capital repairs and other as-needed engagement.
  • Coordinate efforts of Development, Finance & Investments, Design, Construction and Operations teams during design, entitlements, permitting, physical construction, lease-up and operations start-up.
  • Prepare capital requests and development feasibility studies including supporting pro forma and other required financial analytics.
  • Coordinate with internal financial analysis and planning groups to report on periodic project budget expenditures and future business planning efforts.
  • Research various ad hoc issues as requested and compile findings.

Minimum Qualifications / Other Expectations:

  • Bachelor’s degree in real estate, business, finance, engineering, design/planning, or related field required
  • One to three years of commercial office experience with a background ideally in acquisitions, site selection, due diligence, development, and financial analytics
  • Detail-oriented and quantitative approach to the real estate business, coupled with the ability to assume a long-term owner’s perspective and passion for real estate development.
  • Self-starter with strong ability to manage simultaneous projects from conception through completion pursuant to budget, schedule, and design requirements.
  • Strong organizational skills with the ability to balance competing project and organizational priorities, and work well with a variety of personalities and time constraints.
  • Superior written and verbal communication skills.
  • Superior in Excel, Word, PowerPoint and Google Suite of Applications.

About Us:
Irvine Company Office Properties (a division of Irvine Company) offers a portfolio that includes more than 550 office buildings in premier locations: Orange County, Los Angeles, San Diego, Silicon Valley, Chicago and New York.

We’ve evolved the traditional office to something much more: a modern working community. Featuring innovative workplace design, quality craftsmanship, dedicated management and a collection of memorable experiences that seamlessly combine to build a vibrant workplace community.

We take as much pride in our employee community as we do the communities we create. It’s an environment populated with talented and experienced people, a collaborative spirit and abundant opportunities.

Apply today to join our employee community, and learn more about Irvine Company, our legacy and our guiding principles.

Irvine Company is committed to providing equal opportunity in all of our employment practices, including selection, hiring, promotion, transfer, compensation, termination, and training, without regard to race, religion, color, sex, sexual orientation, gender, gender identity, national origin, ancestry, citizenship status, marital status, pregnancy, age, medical condition, genetic information, military and veteran status, disability, or any other basis protected by federal, state, and local law. Reasonable accommodation is available for qualified individuals with disabilities, upon request.

Nearest Major Market: Irvine California
Nearest Secondary Market: Los Angeles

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