Real Estate & Property Management
The Real Estate Manager supports the execution of the Company’s new store growth strategy and portfolio management within an assigned geographical territory. This role assists with site selection, contract negotiations, development activities, financial analysis, portfolio management, and cross functional coordination to support new store development and existing asset optimization. This position works closely with developers, brokers, landlords, and maintain strong partnership with internal stakeholders such as construction, market planning, finance, operations, and legal. Gather and provide ad hoc insights and analysis of markets, competition, and financial trends for existing stores.
The candidate must reside in the following states: MI, OH, KY, VA, WV, PA, NY, NJ, DE, MD, CT, RI, MA, NH, VT ME.
- Manage a defined territory maintaining a strong market knowledge and an understanding of new store opportunity points, trends, competition, emerging markets, and other factors that drive informed real estate decisions
- Work closely with the asset management team to have thorough understanding of upcoming lease expirations of existing stores within the defined territory, and assist with decisions or transactions associated with lease renewals or lease restructuring
- Partner with Market Planning to identify priority trade areas and source sites accordingly to maintain an active pipeline of prospective sites within the assigned territory
- Identify and acquire (whether through a BTS program, self-development, or acquisition) real estate for new store locations in trade areas that fit the organization’s profile for strategic growth which requires effective negotiation skills, advanced financial acumen, and the ability to effectively manage a broad network of developers and brokers.
- Within the assigned territory, assist with the management and tactical oversight of portfolio matters within our fleet of existing real estate assets including lease renewals, subleases, easements, license agreements, acquisitions, dispositions, and surplus management.
- Work closely with construction department and development partners on all aspects of new site due diligence including interfacing with local jurisdiction throughout entitlement process
- Evaluate totality of new store investment to ensure financial return requirements are achieved including sales projection, land cost, building construction cost, site development cost, lease cost, goodwill, FF&E cost, etc…
- Fully negotiate all LOIs to achieve desired strategic outcomes and further partner with legal team to complete any required leases, purchase agreements and other related transactional documents, providing business direction and approval where necessary to complete transactions.
- Manage a network of 3rd party developers and brokers to support growth and financial targets
- Partner with environmental, health, and safety to identify and solve complex environmental matters that pertain to the completion of desired transactions.
- Prepare and present new store site packages for approval at Real Estate Committee
- Other responsibilities and duties as assigned by real estate leadership.
- BS or BA required (business or real estate preferred)
- At least 8 years of real estate experience focused on real estate development, transactional, and portfolio management
- Strong real estate technical knowledge, process knowledge, and experience with site selection and development for retail stores
- Strong knowledge of real estate transactional and contractual documents including leases, purchase agreements, due diligence, and construction contracts
- Ability to read and understand construction drawings and scope of work for tenant improvements
- Advanced financial acumen
- Proficient with preparing and presenting PowerPoint presentations to Sr. Leadership. Excellent verbal and written skills.
- Ability to collaborate and operate independently in a hybrid work environment with travel required 60% of time.
- Corporate experience within a real estate department for a national retailer (or similar) required
- Work effectively and professionally with attorneys, paralegals, brokers, and other internal and external partners
