Position Head of Real Estate
Company Confidential Client
Location Chicago, IL
Reporting Relationship Chief Growth Officer
Our client is a high growth, private equity-backed health services company headquartered in the Chicago area.
The Head of Real Estate will lead the Real Estate function and manage the existing portfolio and aggressively drive the short-term business goals alongside long-term strategic objectives.
The individual will lead and support all Real Estate-related aspects of the Company’s growth strategy and he/she will be responsible for the hands-on leadership of the department and a broad range of initiatives related to the acquisition of and building/redevelopment of new facilities.
KEY RESPONSIBILITIES AND DUTIES
Responsibilities will include managing the new deal pipeline, all aspects of site deployment as well as the incorporation of acquired locations.
The Head of Real Estate will lead all activities related to market planning, footprint strategy, the negotiation of leases, store design and layout, construction, and permitting.
The Real Estate team is currently comprised of 10 team members.
The business is at an inflection point in advance of the next stage of growth and it will be vital that this individual will be a recognized business builder and that he/she is engaged and energized to build an adaptable and scalable Real Estate function to support the business.
Strategic Oversight of the Real Estate Function
• Full end-to-end management of the Real Estate function, including leading the site selection and negotiation of all lease and related document terms and conditions, project management of all development and redevelopment projects, including optimization of lease portfolio and the ownership of a strategic market growth plan - it is essential that the qualified individual is capable of managing and growing a considerable pipeline of activity in order to scale past the current pace of growth (~70 new facilities per year) to more than 100 new facilities per year.
• Develop an understanding of the markets, including the drivers of demands and the review of the lease portfolio. Rebalancing existing markets and looking at markets that are not covering the trade areas; understanding the Company’s ability to take that share. Supporting the research demand information and proactively directing management towards best potential new sites.
• Ownership of the Real Estate lease renewal process including balancing the lease portfolio, establishing a leasing strategy and managing all real estate transactions.
• Lead the Real Estate Committee, which is comprised of senior leaders and responsible for authorizing the footprint plan, portfolio changes, de novo site selection, and underwriting.
• Participate in short and long-term planning for the Real Estate function including organizational structure, staffing/team building requirements and ongoing training.
• Optimize processes, tools and technology to continuously improve the Real Estate function.
• Mentor, inspire, and instruct members of the Real Estate team and their colleagues as it relates to a broad range of real estate areas including construction and transactional matters. Lead in the establishment and enhancement of best practices to enable the achievement of business goals and the execution of corporate strategies.
• Act as key partner to the Corporate Office team on all real estate matters related to the growth strategy, via mergers and acquisitions, construction and redevelopment projects.
• Be accountable for the management of the Real Estate function's operating and capital budgets and the approval of expenses.
• Partner closely with Legal and Operations teams on all Real Estate issues.
PROFESSIONAL EXPERIENCE /QUALIFICATIONS
Our client is seeking a strategic and seasoned Real Estate executive with significant deal and site deployment experience.
Experience in multi-location Real Estate build out programs is required including experience in the market planning; site selection; construction; deal-making; negotiating; and, budgeting for a minimum of a 75 facilities per year build out program.
This individual must be a strong and visionary leader and a team player with a desire to drive best-in-class performance.
In addition, key attributes of a successful candidate will include the following:
• Demonstrated experience in Commercial Real Estate with a background managing site development in a high growth environment and, ideally, with inline and grocery anchored retail store portfolio including related site construction.
• Highly organized and able to prioritize and manage time efficiently and the ability to work effectively in a fast-paced, deadline driven environment.
• A high level of accountability and an ability to effectively work with the Senior Leadership team, landlords, leasing brokers, direct reports and peers.
• A high degree of discretion in managing sensitive and confidential information.
• Willingness to work smart and hard in a challenging and fast paced/ dynamic environment.
• Ability to work independently and collaboratively as a leader and a trusted colleague.
• Deliver results while building organizational and team member capability and foster individual learning and career growth
• Ability to work under time constraints and handle sensitive data and multi-task so that deadlines can be met.
• Knowledge of deal flow and experience with store ground up construction and redevelopment
• Exceptional oral and written communication skills.
A BA/BS degree is required, and a Masters/MBA is desirable for this position.
We are prepared to offer a market-competitive executive compensation package, comprising of a base salary, plus bonus and performance incentives.
- Project Management
- Property Management