Job DescriptionSR Real Estate Market ManagerThis is a Remote position that does require Travel. About the roleThis position is primarily responsible for the execution of the company's real estate strategies in assigned business region, working directly with our broker network to identify, negotiate, and execute leases for new stores, relocations, and expansions. This position must leverage a large quantity of data and analytics to develop sound strategies, working with both internal and external resources to align on market recommendations. This position must carefully coordinate lease renewal terms to align with lease expirations on relocating stores to limit risk of operations and minimize overlapping lease terms. The position can initially expect to produce 25-30 real estate transactions annually, depending on available capital and business conditions, eventually ramping up to 40-50 deals per year. Provide leadership, mentoring and training to team members, being the subject matter expert in real estate transactions and strategic market development strategies. The position will play a significant role in the expansion of our new store concepts, developing market entry strategies that secure high profile, high traffic locations as we expand the brands. Provide support to the asset management team on renewals with market data and occasionally negotiate lease renewals when needed.
Responsibilities20% Partner with the Market Planning Analyst and Analytics partners to develop strategic plans for all major markets in assigned region for Sally, BSG, and Happy Beauty Co. targeting store closures, relocations, and identify top quartile opportunities for new stores.
20% Work directly with in-market real estate brokers to execute on our strategic plans with a focus on stores with higher average store sales and profitability potential. Tour markets with brokers and business partners to validate strategies while meeting directly with landlords to advance negotiations and secure locations.
10% Utilize Analytics and Market Planning platform to run scenarios in markets to validate strategic plans, utilizing sales forecasts for new stores and relocation targets.
30% Actively negotiate letters of intent with landlords on new stores and relocations, running proformas to validate the highest and best use of corporate capital, securing tenant improvement allowances and other incentives, and secure downside protections.
10% Present all new stores, relocations, and proposed store closings to the Real Estate Committees for approval, communicating the strategy being pursued and all relevant aspects of the deal terms negotiated.
10% Coordinate with the Asset Management Transaction Team and Project Management Team to manage lease renewal terms to align with targeted opening dates for relocations, minimizing overlap and risk to operations
Knowledge, skills & abilities requirements- Bachelor's degree in finance, Real Estate, or related field.
- 7-10 years' experience working in Retail Real Estate, with in-market experience across a broad geographical region.
- Must have experience in negotiating letters of intent, including economic terms, legal clauses, and downside protections.
- Strong network of landlord contacts, regularly attending national and regional ICSC deal making conferences, maintaining relationships with key players with our larger national landlords.
- Travel required to tour markets, coordinate with brokers and store operations partners to review trade area, evaluate existing stores, and validate key site criteria.
- Process and analyze a significant amount of data in developing strategies.
- Experience working with sales forecasting platforms and demographic data a plus.
- Ability to manage multiple transactions simultaneously.
- Excellent PC, Microsoft Excel, PowerPoint, and analytical skills
Competencies & attributes- Analytical skills- interpret and report on market and consumer data
- Must be a self-starter who can work well within various situations (from well defined to unstructured) and proactively identify business improvement areas
- Excellent communication skills, both oral and written with all levels of management
- Ability to interact at all levels in the organization
- Ability to work with others to achieve desired results
- Ability to handle confidential information
- Ability to work autonomously
- Possesses leadership abilities and able to mentor others
Working conditions & physical requirementsThe work environment involves everyday risks or discomforts which require normal safety precautions typical of such places as offices, meeting and training rooms, retail stores, and residences or commercial vehicles, e.g., use of safe work practices with office equipment, avoidance of trips and falls, observance of fire regulations and traffic signals, etc. The work area is adequately lit, heated, and ventilated.
The work is sedentary. Typically, the employee may sit comfortably to do the work. However, there may be some walking; standing; bending; carrying light items such as papers, files, books, small parts; using a keyboard, driving an automobile, etc. No special physical demands are required to perform the work.
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