Sr. Real Estate Development Manager

Job Description

Job Summary:

The Sr. Real Estate Development Manager is accountable for all aspects of physical growth, portfolio optimization, and real estate cost management in the manager's assigned geographic territory. This role is critical in identifying, evaluating, and advancing new real estate opportunities across multiple markets and serves as the key liaison between the Real Estate team and field operations, ensuring alignment between strategic goals and on-the-ground execution. This role will be responsible for working with property owners, developers, brokers, municipalities, and all internal teams to implement the strategies in the assigned markets.

What will you do?

• Market Travel & Site Evaluation: Travel extensively to target markets to evaluate potential sites, meet with brokers, and assess real estate opportunities.
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• Strategic Planning & Feedback: Collaborate with the Real Estate Analytics team to review market roadmaps and provide field-based insights to refine strategy.
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• Broker & Developer Engagement: Build and maintain strong relationships with real estate brokers and preferred developers. Coordinate property tours, review listings, and assess ground-up development opportunities.
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• Cross-Functional Collaboration: Partner with Operations, Construction, and Legal teams to align on site selection, development feasibility, and project execution.
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• Site Identification & Negotiation: Source new properties (existing buildings, ground-up developments, etc.) and lead the negotiation of Letters of Intent (LOIs) with property owners.
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• Administrative & System Management: Maintain accurate records in Lucernex, including landlord and site information, and manage documentation throughout the development lifecycle.
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• Project Oversight: Oversee site plans, architectural drawings, and visual documentation. Prepare comprehensive site packages for Real Estate Committee review.
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• Handoff & Relationship Management: Transition approved sites to the Construction team while maintaining ongoing relationships with brokers, landlords, and other stakeholders throughout lease negotiation and build-out phases.

Qualifications:

• Prior experience in market development and real estate negotiations
• Strong negotiation, communication, and relationship-building skills
• Proficiency in real estate systems (e.g., Lucernex) and Microsoft Office Suite
• Ability to travel frequently and work independently in a fast-paced environment
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• Demonstrated consistent attention to detail with high accuracy
• Strong real estate financial background with ability to understand a P&L and ability to calculate figures and amounts such as square footage, interest, commissions, development cap rates, and percentages
• Demonstrated success in cross-functional collaboration, both internally and externally, to achieve shared goals

Certifications, Experience, and Education:

• Certifications: CCIM (Certified Commercial Investment Member) Designation and/or Real Estate Agent or Broker License preferred, not required
• Experience: 5-7 years of experience in market or real estate development for a retail organization; and
• Education: Bachelor's degree in real estate, business, finance or similar field of study; or equivalent combination of education and/or experience

Location & Work Availability:

This position requires 75% travel and will be located within or in close proximity to the assigned market.

Benefits Summary:

We believe in supporting our Team Members and those they love through comprehensive health & wellness benefits. Learn more here: https://jobs.advanceautoparts.com/us/en/benefits

Compensation Range
The good faith estimate for this role is between 120,000.00 USD and 160,000.00 USD salary for a new team member.

The rate offered depends on a number of factors, including geographic location, experience in retail, automotive knowledge, education, leadership roles, and other skillsets ideal for this position and shift differential (if applicable).

Benefits: Advance Auto Parts offers a comprehensive health and wellness benefits program to improve the way of life for our Team Members and those who mean the most to them: their families. Find out more by visiting:

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