The Real Estate Manager leads real estate activity within an assigned territory to support Five Guys'
company and franchise development objectives, including new restaurants and relocations. This role
develops market-level real estate strategies, maintains a qualified development pipeline, evaluates and
negotiates prospective sites, and advances site recommendations through the internal approval process.
Working closely with franchisees, brokers, landlords, Operations, Market Planning, Design, and
Construction, the Real Estate Manager helps protect site quality, deal economics, and the successful
delivery of approved locations in accordance with Five Guys standards.
Essential Duties and Responsibilities:
• Develops and executes real estate strategies for assigned markets and territories in alignment
with annual development plans and growth priorities.
• Partners with Market Planning and Operations to identify priority trade areas, whitespace, infill
opportunities, relocations, and potential market impacts.
• Directs approved brokerage partners and proactively sources opportunities to maintain a qualified
pipeline sufficient to support opening goals.
• Serves as the primary real estate resource for assigned franchisees; establishes expectations,
conducts recurring pipeline reviews, and holds franchisees and brokers accountable for
development schedules and commitments.
• Evaluates trade areas and sites using demographics, traffic patterns, access, visibility,
competition, co-tenancy, activity generators, occupancy costs, development costs, and internal
mapping tools.
• Conducts market tours and site inspections; prepares complete, timely site evaluation materials
and presents recommendations through the internal site approval process.
• Engages Design and Construction early to assess utilities, prototype fit, landlord scope,
constructability, and other feasibility considerations.
• Leads letters of intent and business-term negotiations, including rent, tenant improvement
allowances, landlord work, delivery conditions, exclusivity, signage, options, kick-out rights, and
commencement provisions.
• Maintains accurate deal records, milestones, forecasts, and status reporting; identifies transaction
and schedule risks early, coordinates cross-functional resolution, and escalates material issues
with clear recommendations.
• Supports asset-management initiatives, including relocations, encroachment reviews, market impact analysis, and other portfolio optimization efforts.
• Builds productive relationships with franchisees, brokers, landlords, developers, vendors, and
internal partners while consistently demonstrating Five Guys values and ethical business
practices.
• Serves as the primary real estate resource for assigned franchisees; establishes expectations,
conducts recurring pipeline reviews, and holds franchisees and brokers accountable for
development schedules and commitments.
• Performs other related duties as assigned.
Qualifications Guidelines:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The
requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable
accommodation may be made to enable individuals with disabilities to perform the essential functions.
Education/Experience:
• Bachelor's degree in Business Administration, Real Estate, Finance, or a related field; equivalent
relevant experience may be considered.
• Six to eight years of commercial real estate or related experience, including significant
responsibility for site selection, transaction management, and lease negotiations.
• Five to seven years of experience supporting development in a franchise environment;
restaurant, QSR, or fast-casual experience is strongly preferred.
• Working knowledge of real estate strategy, market analysis, development feasibility, lease
economics, budgeting principles, and contractual arrangements is required.
Language Ability:
Strong written, verbal, interpersonal, documentation, and presentation skills are required, including the
ability to clearly communicate business terms, risks, open issues, recommendations, and complex real
estate information to franchisees, brokers, landlords, Operations, Legal, Design, Construction, and senior
leadership.
Math Ability:
This position requires strong quantitative reasoning and business math skills, including the ability to
understand lease economics, occupancy costs, development costs, budgeting principles, and related
financial considerations.
Reasoning Ability:
The position requires sound judgment, critical thinking, and independent reasoning to evaluate complex
real estate and development issues, clarify ambiguity, influence without direct authority, and recommend
practical solutions. The role must be able to build cross-functional relationships, resolve issues, manage
competing priorities and deadlines, and escalate matters appropriately.
Computer Skills:
Advanced proficiency with Microsoft Office applications is required, along with the ability to learn and
effectively use mapping, pipeline, reporting, and real estate management systems.
Supervisory Responsibilities:
This position requires no supervisory experience.
Physical Demands:
This position operates in both office and field environments and requires frequent travel within the assigned
territory and occasional travel elsewhere, generally 40%-50% depending on business needs. The role
routinely requires working at a computer and visiting active or prospective restaurant sites, including
construction environments.
Special Requirements/Certification:
None
The above job description is not intended to be an all-inclusive list of duties and standards of the position.
Incumbents will follow any other instructions, and perform any other related duties, as assigned by their
supervisor, policy and company management.
Work location and onsite attendance requirements will be determined by the company in accordance with company
practice and business needs.