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First Washington Realty

Development Analyst

Company logo
First Washington Realty
A national real estate investment and management firm specializing in grocery‑anchored, convenience‑oriented retail centers.
23d ago
Intermediate (4-7 years), Junior (1-3 years)
Full Time
Bethesda, MD
Office Full-Time
Company Size
100 Employees
Service Specialisms
Commercial Real Estate
Shopping Centers
Real Estate Investments
Acquisitions
Leasing
Property Management
Sector Specialisms
Convenience Retail
Necessity Retail
Experience-Oriented Retail
Grocery Anchored Neighborhood Shopping Centers
Community Shopping Centers
Open-Air Retail
Role
What you would be doing
argus modeling
data organization
feasibility analysis
financial models
due diligence
consultant coordination
  • Develop and modify detailed Argus Enterprise and Excel models to evaluate current and projected financial performance for redevelopment opportunities within the existing portfolio and potential acquisitions.
  • Gather, organize, and maintain accurate financial and market data to support redevelopment feasibility studies, underwriting efforts, and informed decision-making.
  • Conduct detailed pre-development feasibility analyses for acquisitions and redevelopments, including projections related to construction costs, leasing assumptions, and timelines.
  • Build and maintain comprehensive financial models incorporating sensitivity analyses (including IRR, pro formas, return on cost, NPV, etc.) for redevelopment and ground-up development projects.
  • Assist in due diligence activities, including zoning reviews, entitlement evaluations, and lease reviews.
  • Work closely with project leads to monitor project timelines and assess development returns.
  • Collaborate with internal teams (leasing, operations, construction) and external consultants to refine assumptions.
What you bring
gis tools
excel
argus enterprise
bs/ba real estate
mba
2+ years experience
  • Use of a computer screen for extensive periods of time.
  • Has intermediate understanding of real estate fundamentals.
  • Demonstrate the ability to think clearly and analytically to identify current and future market issues through research techniques and competitive intelligence.
  • Working knowledge of CoStar, Placer, and GIS tools preferred.
  • Curious and entrepreneurial mindset with a methodical and detail-oriented approach to finding solutions.
  • Proven ability to work closely with leadership to define daily and weekly priorities. Actively seeks and accepts constructive feedback while giving the same.
  • Knowledge of and ability to use tools and techniques for collecting, collating and analyzing information on existing or potential markets to meet market needs.
  • BS/BA in Real Estate, Finance, Urban Planning, Economics, or related field preferred. Advanced degrees (MBA, MSRE) and certifications are a plus.
  • Strong skills in financial modeling platforms – Microsoft Excel and Argus Enterprise with a high level of accuracy in analysis and reporting.
  • Has excellent time-management skills and is able to meet deadlines effectively and efficiently.
  • Knowledge of financial and real estate development concepts necessary to determine investment feasibility.
  • Exceptional written and verbal communication skills with the ability to present complex data in a clear, professional manner, and skilled in the ability to work effectively with cross-functional teams while maintaining independence in execution.
  • May require the ability to remain in a stationary position (standing and/or seated).
  • Experience with a broad range of primary and secondary research methods, both qualitative and quantitative.
  • Occasional lifting up to 30 lbs.
  • 2+ years of experience in real estate development, finance, investment analysis, or a related field.
Benefits
  • Extended working hours and travel may be necessary.
Training + Development
Information not given or found
Company
Overview
Founded 1983
Year Established
The company was established in 1983.
9 Billion Assets
Asset Value
The firm's assets are valued at nearly $9 billion.
21.9M SQ FT
Portfolio Size
The portfolio spans nearly 21.9 million square feet.
3,600 Tenants
Retail Tenants
The portfolio houses approximately 3,600 tenants.
  • The firm has grown from a regional developer into a national owner‑operator of retail shopping centers.
  • It holds interests in around 143 shopping centers across 22 U.S. states and Washington, D.C.
  • Its projects include grocery-anchored neighborhood and community centers in high-barrier markets, often featuring national tenants like Whole Foods, Harris Teeter, Trader Joe’s and TJX brands.
  • Known for executing redevelopment plays—such as transforming older centers into vibrant community hubs with fitness, pet, and lifestyle anchors.
  • Operates from several regional offices in Bethesda (MD), Dallas, Kansas City, Orange County, Portland, Sacramento, and San Diego.
  • Often structures investments as all-cash acquisitions, joint ventures, or portfolio deals, targeting properties with both occupancy stability and redevelopment potential.
Culture + Values
Doing the right thing profitably
Core Value
The company emphasizes doing the right thing while maintaining profitability.
Community improvement
Value Proposition
Dedicated to improving the communities where the company operates.
Giving back
Initiatives
Focus on giving back through environmental, social, and company policies.
Supportive Environment
Work Culture
Employees benefit from a supportive environment where everyone is invested in their success.
Monthly Luncheons
Employee Benefits
Employees enjoy monthly company luncheons as part of the workplace perks.
Fruit and Snacks
Employee Benefits
Free fruit, coffee, tea, and snacks are provided daily at the workplace.
Environment + Sustainability
100% Emissions Reduction
Net Zero Commitment
Achieve net zero greenhouse gas emissions for all controlled operations by 2050, targeting a complete reduction of Scope 1 and Scope 2 emissions from a 2019 baseline.
50% LED Lighting
Energy Efficiency Initiative
Upgrade landlord-controlled spaces to energy-efficient LED lighting, covering 50% of floor area by 2025.
40% EV Charging
Sustainable Transportation
Install electric vehicle charging stations at 40% of portfolio floor area by 2030.
30% Waste Diversion
Waste Management Goal
Achieve 30% waste diversion by 2030 through improved waste management practices across the portfolio.
  • Committed to reducing greenhouse gas emissions to net zero by 2050.
  • Solar power installations in portfolio and sustainable roofs to mitigate the heat-island effect.
  • Participate in the GRESB survey and report measured greenhouse gas emissions in controlled spaces.
Inclusion & Diversity
2.7 / 5 rating
Employee diversity ratings
Diversity & inclusion rating based on anonymous employee feedback.
26.8% below average
Sector comparison
Rating is below the sector average for diversity and inclusion.
  • Corporate commitment to diversity and inclusion mentioned on FWR Cares page
  • Glassdoor rating for Diversity & Inclusion shows limited positive employee sentiment
  • No gender-specific statistics or published gender-ratio data available publicly
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