For the assigned Territory, responsible for the management of real estate assets to ensure maximization of profit/minimization of loss from unproductive properties and protection/profitability of existing store base.
Develops and maintains cooperative working relationships with Landlords, Tenants, Corporate Finance, Attorneys, Brokers and Property Managers to facilitate maintenance and sub-lease of excess or closed stores. Serves the needs of Operations in keeping the store network productive.
Resolve property-related issues of operating stores. This includes the following: Negotiates damage awards w/ local government authorities on Right of Way (ROW) takings, condemnations, road change impacts, etc.
May employ consultants/engineers to make case.
Enforce compliance of all lease agreement provisions (use restrictions, exclusivities, co-tenancy, etc.) on both landlord and tenant.
Offer interpretation of many lease clauses, (i.e., maintenance responsibility for repair items).
Coordinate any Common Area Maintenance (CAM) issues with internal accounting in order to minimize cost to 7-Eleven.
Work with Operations and other departments to resolve code violations. Respond to formal notices of Monetary and Non-Monetary default.
Lead resolution of issues related to Casualty Damage.
Confirm if any Landlord defaults for Estoppel certificates.
Arrange Special Use Permits to allow sales of certain products as developed.
Assess liability for property damage or maintenance and arrange for repair appropriately.
Negotiates office space renewals/relocations.
Collaborate cross functionally to optimize performance of company assets.
Alert the team to threats and opportunities to the store base for anything other than lease expiration: i.e., right-of-way takings, landlord redevelopment, etc.
Pursue opportunities for enhanced store performance through property improvements such as new signage, Special Use Permits (SUP) store and parking lot expansions, or access changes.
Education: Bachelors/4 Yr Degree
Experience: 5 years, Property management, business finance/accounting, contract interpretation.
Able to read/interpret contract provisions, rights and responsibilities.
Able to calculate value of business loss and likelihood of survival of stores impacted by road change.
Able to negotiate/construct an argument to fight for awards, property rights and resolve issues.
Able to track/resolve property issues quickly with outsourced team work w/ outside brokers to find good tenants and get them approved by Ops and Finance depts.