$80K — $100K *
Manage and market sale of excess property. Ensure Lowe’s gets the highest market value for each property at a profit higher than current book values. Review all existing sites, where a carveout can be created, while not sacrificing Lowe’s operations, but placing a use that will create more traffic complimentary to Lowe’s store operations. Manage al outside brokers and consultants in negotiations with buyers/landlords from initial deal through execution of all legal documents. Coordinate with Operations, Engineering and Construction, Facilities and Legal.
• Support Corporate Facilities with needs for office space for Regional offices or store support facilities. Identify all relocation possibilities for each regional office, while reducing annual occupancy expenses at each office. Manage process The Real Estate manager will manage the process from site selection, deal negotiation, REC approval and final document negotiation. Ensure all business partners are involved in process to insure full support. Each Real Estate Manger will work directly with the Regional Vice President of the region.
• Coordinate with Lowe’s Supply Chain the optimal deployment of new distribution facilities that will support Lowes optimal growth of its supply chain network. Manage site selection through documentation negotiation. Responsible for Project Management of each location from Site Selection through lease execution. Manage all activities of outside brokers. Annual Rent budgets at each location, typically exceed $1MM.
• Build and promote strategic partnerships within the commercial real estate industry, both retail and industrial disciplines, among landlords, developers, and brokers. Manage all outside brokers and consultants.
• Conduct site tours for operations and Senior Management review of potential sites.
• Manage and prepare all REC/CAC documents for committee review of all new locations for retail and non-retail locations. Coordinate with all business partners to get all relevant information in for review as it relates to each location.
• Ensure that every transaction is within Lowe’s financial guardrails and Internal Rate of Return, meets all operational needs and is fully vetted with all relevant business partners.
• Support the Maintenance Supply Headquarter business in expansion of branches to a national presence in the US. Work with the business and Lowes Market Insight team to identify future markets for expansion. Manage outside brokers. Negotiate real estate terms from onset through lease execution. Ensure every deal meets Lowes ROIC and IRR financial hurdles.
• Bachelor’s Degree preferably in Business Administration, Real Estate, Engineering, Architecture, or Construction
• 7 years’ experience as a Real Estate Acquisition Manager working with multiple sites in a large retail real estate firm, preferably big-box
• 7 years’ experience in real estate managing negotiations of $10M+ in purchases or leases
• 7 years’ experience in managing and negotiating multiple deals from market reviews through lease execution
• 5 years’ experience in disposition of Corporate Real Estate – retail/supply chain
• 3 years’ experience in lease renegotiations
Valid through: 4/3/2021