Director Real Estate Operations (59608)

AAA Northeast • North Providence, RI

13d • $147,500 - $191,000 • Onsite

About The Position

In collaboration with the executive leadership, directs the real estate activities and portfolio management of AAA Northeast properties. Oversees assessment of location, site acquisition, disposition, and leasing of buildings, and land, and portfolio management. Conducts buy versus lease analysis and make recommendations to executive leadership. Inspects new properties to ensure they meet organizational expectations, and negotiates contract terms as needed upon purchase or lease agreement (both tenant and landlord). Creates and implements management policies for portfolio of real estate assets, which includes commercial office, industrial, and retail properties. Oversees portfolio management at investment properties with tenants and/or vacant leasable space. Manages tenant relationships throughout tenant's lease term and manages landlord relationships at leased locations. Collaborate with Facilities & Building Services oversight of property development or construction. The Club's portfolio comprises approximately 63 leased locations, and 40 owned locations, both providing support for our Branch and Automotive Services business lines, and for corporate offices.

Requirements

• Bachelor's Degree Real Estate, Finance, Business Administration, Economics or related field required or 6-8 years of additional relevant experience required
• 10+ years direct experience with real estate transactions including evaluation, sale, leasing and management of owned and leased properties. required
• 10+ years direct experience negotiating lease terms and relevant experience reviewing legal documents. required
• Background and comprehension of the real estate industry and, in particular, investment management, with a solid understanding of asset management for value maximization. required
• Ability to effectively build relationships with stakeholders and negotiate with the Club’s best interest in mind. required
• Experience working with and managing multiple asset types. required

Nice To Haves

• Master's Degree Real Estate, Finance, Business Administration, Economics or related field preferred

Responsibilities

• Manage the Club’s real estate strategic planning process, including long-range portfolio planning, footprint optimization, market prioritization, and alignment of real estate decisions with AAA Northeast’s operations, business strategies, membership needs, and growth objectives.
• Lead and oversee negotiations related to property acquisitions, dispositions, renewals, relocations, subleases, and leasing efforts, including transactions in which AAA Northeast acts as either tenant or landlord.
• Oversee the asset management function for AAA Northeast’s real estate portfolio, including day-to-day operations of the company’s non-core real estate assets, tenant and landlord obligations, property performance, risk exposure, and portfolio documentation.
• Collaborate with respective business leaders (primarily Branch Operations, and Automotive Services) regarding their space needs and identify corresponding properties, either for lease or to purchase, that meet their needs.
• Prepare comprehensive market, site feasibility, and evaluation packages and proposals, including book and cash flow financial models, IRR and NPV calculations, budgets, lease-versus-own analyses, ownership and investment comparisons, and executive-ready recommendations.
• Work in concert with and maintain effective working relationships with internal stakeholders and departments, including Finance and Accounting, Legal, Facilities & Building Services, Insurance, local management, and individual business leaders, to ensure coordinated decision-making, compliance, and execution.
• Coordinate with local management to ensure smooth transitions when opening new Club locations, and work in concert with Facilities & Building Services for rehabilitation and build-outs to meet AAA Northeast design standards, schedules, and timelines. Throughout this process, act as primary intermediary with both landlords and tenants.
• Manage zoning approval process for Club and attend meetings and/or hearings for new sites.
• Develop and maintain effective working relationships with external stakeholders, including landlords, tenants, brokers, community partners, consultants, municipalities, and other parties, while representing AAA Northeast professionally in all real estate opportunities.
• Prepare annual operating and capital budgets for the real estate portfolio, monitor performance against approved plans, identify cost-control and savings opportunities, and ensure disciplined stewardship of company resources.
• Oversee collections for tenants at investment properties and ensure that the Club’s rental obligations are met at leased locations.
• Work together with Finance department on annual expense reconciliations for tenants and landlords.
• Lead and direct the work of employees and project resources, including responsibility for hiring, performance management, development, and other personnel actions; contribute to strategic planning, direction, and goal setting for the department or function in collaboration with senior management; and establish departmental policies, practices, and procedures that have a significant impact on the organization.

Benefits

• Medical coverage with employer contributions covering up to 93% of the premium cost, plus dental and vision options.
• 6% company match on 401(k) retirement plan contribution, with contributions fully vested and made every pay period
• 3 weeks’ vacation, 12 holidays, 8 sick days, 48 hours of volunteer time annually
• Free AAA membership, insurance discounts, travel commission refund, up to $625 in Wellness Incentives, up to $6k in tuition reimbursement, and more!
• Competitive base pay, annual bonus opportunities, and for certain roles, additional monthly and/or quarterly incentive compensation.

What This Job Offers

• Job Type: Full-time
• Career Level: Director