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Senior Director of Real Estate

Salary
Competitive
Employment
Full Time
Work Place
Office
Real Estate Field
Location
New York
 NY
Postal Code
10001
Country
United States

This job is no longer active.

Description


POSITION SUMMARY: 

The Senior Director of Real Estate (SDRE) is an executive leader responsible for developing and executing retail store and shopping center growth strategy and optimizing company owned real estate assets. This critical role leads and directs the site selection team to analyze the existing portfolio of retail stores/shopping centers, develop analytical tools for new markets/sites, source new store locations, oversee real estate purchase and lease contracts, and transition projects to Property Development and Operations. The company’s new store growth objective is to open at least 10 net new retail stores per year with a preference to own more than 50% of new retail stores/shopping centers. The SDRE must be able to act swiftly and decisively in pursuit of extraordinary value, a core tenet of all company leadership. The SDRE manages all company owned/controlled real estate assets including third party tenant leasing and will, in the near future, assume oversight for Property Development (construction, property management and lease administration). This responsibility is focused around maximizing third party tenant NOI, while maintaining high occupancy, along with identifying “value add” opportunities including redevelopments, partnerships and other strategic projects aimed to optimize the portfolio and/or improve store profitability. The asset management objective relative to company owned real estate, is to improve profitability while maintaining expense and capital budgets, increasing overall asset value.  

The current portfolio consists of 142 retail store locations, of which 78 are company owned assets including 280 third party tenant spaces totaling approximately 2,600,000 square feet, as well as a number of affiliated real estate investments.  This responsibility manages an operating budget of approximately 40 million dollars per year and a capital budget in excess of 10 million dollars per year.

The SDRE reports directly to the CFO but has significant interaction with the CEO and principal owners, VP of Operations, Director of Property Development, Legal Counsel, and Senior Management.  This leader must demonstrate confidence in their convictions, but be willing to engage company leadership in a collaborative approach to key-decision making. The SDRE must have strong relationships across multiple states within the retail commercial real estate community including brokers, tenants, government officials, legal counsel, architectural and engineering and other consultants.

 

 

ESSENTIAL DUTIES AND RESPONSIBILITIES:

  • Provide overall strategic direction and leadership to achieve Company retail store and shopping center growth objectives, embracing OKRs

  •  Manage retail store growth and third party tenant leasing teams and, within one-year, future management of teams involved in property development and lease administration

  • Develop and implement metrics for performance management to drive accountability, reward success and build interdepartmental team dynamics

  • Embrace continuous improvement and incorporate into training and development of all teams

  • Continuously explore, test and implement emerging technologies to improve site selection, enhance real estate operations and boost profitability

  •  Evaluate the performance of the existing portfolio of stores and recommend renovate /relocate/close decisions

  • Oversee the preparation and presentation of all store and shopping center investment proposals to company ownership including market analysis, competitive analysis, sales forecasts, financial proformas, risks and any alternative use possibilities

  •  Lead the Real Estate team in the timely execution of approved deals including new ownership sites, store leases and tenant leases

  •  Oversee the transition of executed deals to Property Development in a timely and efficient manner and present budget vs. actual reporting on pre-opening and build-out costs within 8 weeks of project completion

  • Develop and maintain a robust, cross functional, postmortem process for real estate projects to drive continuous improvement and stakeholder accountability.

  • Lead the development of property-level income and expense budgets and implement budget vs. actual reporting to drive accountability

  • Travel to new markets and new store sites, as needed

  •  Oversee all ICSC events, brokerage networks, landlord and third party tenant relationships

  • Serve as a trusted advisor and subject matter expert for all real estate matter

 

EDUCATION AND EXPERIENCE:

  • +10 years of commercial real estate experience in acquisitions, asset management and construction, with a primary focus on retail. Shopping center development and/or national discount retail store experience preferred

  •  +10 years of direct experience with commercial real estate transactions including site identification, evaluation, sale, leasing and management of owned and leased properties 

  •  +10 years of direct experience negotiating lease terms, working with brokers and legal counsel and reviewing legal documents required. Proficient in financial, legal and lease language and terms

  • +5 years of experience attracting, leading and developing high performing teams through strategic direction, continuous development and commitment to a shared vision and values

  • Experience with modern market research tools and other technologies to improve site selection and operational efficiency

  • Working knowledge of health and safety regulatory agencies (OSHA, EPA, etc.) required

  • Knowledge of applicable real estate laws and multi-site real estate requirements 

  • Bachelor's degree in Real Estate, Finance, or Business required. Master of Business Administration preferred

  • Proficient in MS Office, Scheduling, and Google platform (i.e. sites, slides, drive, docs, sheets)

 

ATTRIBUTES:

  •  Leadership: You are a strategic thinker and leader in your everyday work. You pride yourself on developing future leaders; you have direct experience managing, training and elevating team members to greater responsibilities

  • Passionate: You demonstrate hunger and ambition in the work that you take on, always striving for extraordinary results

  • Risk / Reward:  You understand the value of taking calculated risks in pursuit of your goals; you act swiftly and decisively when you see a great opportunity and you aren’t afraid to take responsibility for your actions.

  • Team Oriented:  You understand that strong teams outperform strong individuals and promote the success of your team above personal gain or recognition.  

  • Effective Communicator: You communicate professionally and candidly; you understand the importance of communication in building a culture of trust and respect.

  • Analytical: You use logical reasoning and data to measure, analyze, adjust and continuously improve your operations. You have strong problem-solving skills.

  • Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

 

WORK ENVIRONMENT:

  • Work primarily in a climate controlled environment with minimal safety/health hazard potential. Sedentary, sitting, and computer use.

  • Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

 

This job description does not list all the duties of the job.  You may be asked by supervisors or managers to perform other job duties and tasks, some of which may be essential to the position.  Leadership has the right to revise this job description at any time.  The job description is not a contract, either express or implied.  You are an at-will employee, meaning either you or the Company may terminate your employment at any time, with or without notice.

 

Job Sector


 

Experience


10+ to 15 years


This job is no longer active.

Technology / Market Research Retail New York Full Time NY Investment Management, Leasing, Research/Market Analysis Senior Director of Real Estate other