Real Estate Manager
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Job Description
Real Estate Manager supporting new store growth strategy and portfolio management for Bridgestone retail locations across the US. Responsibilities include site selection, contract negotiations, and financial analysis.
Responsibilities:
- 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
- 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
- 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
- Prepare and present new store site packages for approval at Real Estate Committee
- Other responsibilities and duties as assigned by real estate leadership.
Requirements:
- 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
- BS or BA required (business or real estate preferred)
- Nice to Have: Lucernex Software knowledge and/or experience.
Benefits:
- A supportive and engaging onboarding experience to ensure a smooth transition into our team.
- The opportunity to develop and grow, through training and regular mentorship.
- Corporate Social Responsibility activities.
- A truly global, dynamic and challenging work environment.
- Agility and work/life effectiveness and your long-term well-being.
- A diverse and inclusive team.
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