Job Title: Director of Real Estate
Reports To: VP of Real Estate
Position Type: Full Time
Salary Range: $150,000-$190,000
Location: Central or Eastern U.S. with close proximity to a major airport
Summary:The Director of Real Estate is a strategic leader responsible for spearheading the physical expansion of our restaurant brand in designated existing and new markets; however, primarily focused on the Eastern and Central regions of the country. You will identify high-potential markets, secure premium locations, and manage our existing property portfolio and aggressive market entry as we continue our expansion as a national brand. This role sits at the intersection of data-driven analytics and relationship-based negotiation, ensuring that every new store aligns with our brand identity and financial goals. You must have a demonstrated ability to work in ambiguous and fast-moving environments while successfully collaborating with cross-functional partners and external brokers and landlords.
Key Responsibilities:Strategic Growth:- In collaboration with the Chief Development Officer and VP of Real Estate, develop and execute a comprehensive multi-year real estate strategy to support aggressive brand expansion in existing and potential new markets.
Site Selection & Analysis: - Use demographic data, traffic patterns, and trade area
analysis to identify and vet prime restaurant locations, while thoroughly assessing
risk factors, such as, competition, build-out challenges, zoning issues, etc.
Deal Negotiation: - Lead the end-to-end process for letters of intent (LOI), financial
analysis and lease negotiations, ensuring favorable terms for deal economics and
required pro-forma returns, for both new sites and renewals.
Deal Approvals:- Package and present sites for approval by Company's Real Estate
Committee.
Broker Management:- Build and manage a high-performing network of external
brokers across various markets.
Portfolio Management:- Oversee the health of the existing portfolio, including lease
renewals and/or relocations, and property management issues.
Cross-Functional Collaboration: - Partner with Construction, Design, Operations,
Technology and Finance teams to ensure sites are delivered on time and within
budget.
Legal Oversight:- Work closely with legal counsel to finalize lease agreements and
ensure compliance with the company's minimum requirements.
Qualifications:Experience:- 8-10+ years in commercial real estate, specifically for fast-paced
growth brands within the restaurant and/or retail sectors.
Education: - Bachelor's degree in Real Estate, Finance, Business, or a related field.
Negotiation Skills:
- A proven track record of negotiating complex leases in
competitive urban and suburban markets in the Eastern and Central U.S.
Technical Proficiency:- Experience with site-selection software (e.g., Kalibrate,
Placer.ai, or similar GIS tools).
Network: - Strong existing relationships with both local and national landlords and
the brokerage community. Strong references from both landlords and brokers will
be required.
Travel:- Ability to travel frequently to evaluate potential sites and markets.
Leadership Competencies you must possess as a Director at Mendo include:- Cultivating People
- Maximizing Impact
- Owning Outcomes
- Accelerating Progress
- Creating Alignment & Clarity
- Navigating Healthy Conflict
- Driving Results
- Inspiring Confidence
Benefits include:- Health, Dental, Vision Insurance
- 401(k) Match
- Paid Time Off
- Paid Sick Leave
- Employee Assistance Program
- Bonus Program
- Parking & Transit Reimbursement
- Discounted tickets through Tickets at Work
- Pet Insurance
- Discounted Gym Memberships
- Free and delicious Mendo Meals
Physical Requirements- Ability to lift up to 40 pounds
- Sitting and standing for 6-8 hours
- Frequent bending, twisting, squatting, and reaching as needed on construction sites
There is no "I" in Mendo
