About the Role: The Real Estate Manager will play a pivotal role in strategically growing and optimizing Subway's restaurant network, ensuring the financial strength of the restaurants through profitable development. This role requires a strategic thinker with in-depth knowledge of the assigned region to identify, evaluate, and secure prime locations for new Subway restaurants, while also overseeing the site approval process with the leadership team.
The Real Estate Manager will manage new store openings, relocations, and other real estate activities within their assigned area. Additionally, they will collaborate closely with Single and Multi-Unit Franchisees to support their development targets and goals, acting as a trusted advisor to their real estate efforts.
Reporting directly to the Director of Franchising and Real Estate, the Real Estate Manager will work in tandem with the Field Operations and Franchising teams to successfully execute site selections and development initiatives.
Responsibilities include but are not limited to: - Identify, qualify and pursue high potential real estate opportunities across assigned region
- Build strong relationships & collaborate directly with growth-qualified Single Unit and Multi Unit Operator Franchisees to support their development targets and goals, acting as a trusted advisor to their real estate efforts
- Conduct thorough market research, including demographic, traffic pattern, and competitive analysis, to support site recommendations
- Collaborate with and maintain relationships with regional and national brokers, landlords, developers and municipal authorities to secure optimal locations
- Work closely & collaboratively with internal teams to prepare and present detailed site proposals, including financial analysis, to obtain corporate approvals
- Maintain an up-to-date pipeline of potential properties and provide regular progress reports to senior management
- Calibrate market rents and favorable rent/lease terms in partnership with franchisees for new locations identified in order to submit conditional letters of intent
- Lead negotiation and execution of Letters of intent (LOIs) aligned with Subway's deal parameters and legal requirements
- End-to-End Development. Support the full development cycle of a site through oversight of key development milestones through to restaurant opening
- Act as a key stakeholder throughout permitting, build-out, leasing, and opening stages to ensure sites sourced and approved proceed on schedule
Qualifications: - Bachelor's Degree in Real Estate, Business, Finance, GiS, Urban Planning and/or related fields strongly preferred
- 5+ years' experience in corporate commercial real estate and market research analysis in the QSR, Fast Casual industry or retail industries
- Proven track record in site selection, market analysis, and/or lease negotiations
- Strong, established network and partnerships with landlords, brokers and developers in assigned territory
- Strong understanding of real estate market in assigned territory, including zoning laws and regional nuances
- Experience with analytics tools/ real estate market software
- Excellent negotiation, interpersonal, and communication skills
- Ability to travel within assigned territory for site visits, landlord meetings, franchisee meetings, etc
- Proficiency with Excel, Powerpoint and SmartSheets
- Ability to manage and oversee site approval presentations, communications and site tracking for real estate in assigned territory
- Ability to build strong working relationships cross-functionally and externally
- Deep understanding of Canadian Markets & Development landscape related to retail & QSR industries
What do we Offer? - Insurance Plans (Medical/Dental/Vision/Life)
- 401k
- Competitive Bonus
- Mobility Allowance
- Tuition Reimbursement
- Company Holidays
- Employee Resource Groups
- Volunteering time
- Many More...
Actual pay is determined based on a number of job-related factors including skills, education, training, credentials, qualifications, scope and complexity of role responsibilities, geographic location, performance, and working conditions.
Job Details - Pay Type: Salary
- Employment Indicator: Regular
