Director - Real Estate

Penske•Tempe, AZ

3h•Hybrid

About The Position

Penske is seeking a Director of Real Estate who will provide strategic leadership and operational oversight of the organization’s portfolio of over 1,200 owned and leased properties. This role is responsible for developing and executing real estate strategies that align with the goals of the business, support growth, and optimize costs. The Director of Real Estate collaborates closely with various departments including Finance, Operations, Legal, Business Development, Risk Management, Facilities, Environmental, Fuels, and Maintenance, as well as external stakeholders such as landlords, developers, brokers, economic development authorities, and contractors. This position requires a strategic and proactive candidate who can balance long-term real estate planning with practical, cost-effective solutions to industrial real estate challenges. This position is open to considering candidates in Tempe/Phoenix, AZ; Dallas, TX; or Cleveland/Beachwood, OH. This role requires frequent travel, expected to account for approximately 25% of work time. When not traveling, the role is expected to work on-site at the corporate/regional office 4 days per week, consistent with our standard in-office expectations. In-office schedules may flex based on travel demands and business needs. The position is not eligible for relocation assistance.

Requirements

Strategic leadership and operational oversight of a portfolio of over 1,200 owned and leased properties.
Developing and executing real estate strategies that align with business goals, support growth, and optimize costs.
Collaboration with Finance, Operations, Legal, Business Development, Risk Management, Facilities, Environmental, Fuels, and Maintenance departments.
Working with external stakeholders such as landlords, developers, brokers, economic development authorities, and contractors.
Balancing long-term real estate planning with practical, cost-effective solutions.
Frequent travel, approximately 25% of work time.
On-site work at the corporate/regional office 4 days per week when not traveling.
Team leadership of real estate transaction professionals.
Mentorship to direct reports and extended team members.
Building team capabilities in real estate strategy, transactions, and portfolio management.
Establishing clear goals, performance metrics, and development plans for team members.
Developing and executing comprehensive corporate real estate strategies aligned with business growth objectives and operational requirements.
Implementing the company’s strategic vision through management of real estate transactions.
Forecasting space needs based on business projections and market opportunities.
Staying ahead of market trends and industry best practices.
Conducting portfolio analysis to optimize real estate footprint for cost-effectiveness and strategic positioning.
Leading site selection processes for new locations.
Overseeing all real estate transactions, including lease negotiations, acquisitions, and dispositions.
Evaluating potential properties based on business requirements, market demographics, accessibility, operational needs, and cost-effectiveness.
Leading due diligence efforts, including financial analysis, risk assessment, and site evaluations.
Negotiating favorable lease agreements, purchase contracts, and other real estate documentation.
Ensuring compliance with zoning laws, regulatory requirements, and environmental considerations.
Strong financial aptitude in evaluating real estate opportunities and portfolio decisions.
Analyzing real estate costs and identifying cost savings opportunities.
Developing ROIs, New Facility Justifications, and Lease vs. Own analyses.
Maintaining and cultivating industry relationships with external stakeholders.
Collaborating with field operations teams to understand facility needs and operational requirements.
Partnering with Facilities, Environmental, Fuels, and other corporate departments.
Supporting executive leadership with market insights, portfolio updates, and strategic recommendations.
Excellent communication and interpersonal skills.

Responsibilities

Actively lead a team of high-performing real estate transaction professionals, ensuring a culture of accountability, collaboration, and continuous improvement.
Provide direction and mentorship to direct reports and extended team members.
Build team capabilities in real estate strategy, transactions, and portfolio management.
Establish clear goals, performance metrics, and development plans for team members.
Develop and execute comprehensive corporate real estate strategies aligned with business growth objectives and operational requirements, implementing the company’s strategic vision through management of real estate transactions.
Partner with cross-functional teams to forecast space needs based on business projections and market opportunities.
Stay ahead of market trends and industry best practices to identify new opportunities for innovation and efficiency.
Conduct portfolio analysis to optimize Penske’s real estate footprint, ensuring cost-effectiveness and strategic positioning.
Lead site selection processes for new locations and oversee all real estate transactions, including lease negotiations, acquisitions, and dispositions.
Evaluate potential properties based on business requirements, market demographics, accessibility, operational needs, and cost-effectiveness.
Lead due diligence efforts on prospective properties, including financial analysis, risk assessment, and site evaluations.
Negotiate favorable lease agreements, purchase contracts, and other real estate documentation, in coordination with Penske’s Legal Department.
Ensure compliance with zoning laws, regulatory requirements, and environmental considerations.
Demonstrate strong financial aptitude in evaluating real estate opportunities and portfolio decisions.
Analyze real estate costs and identify opportunities for cost savings.
Partner with financial analysis team to develop ROIs, New Facility Justifications, and Lease vs. Own analyses.
Maintain and cultivate industry relationships with external stakeholders, including brokers, developers, landlords, and other institutional owners of industrial properties.
Collaborate with field operations teams to understand facility needs and operational requirements.
Partner closely with Facilities, Environmental, Fuels, and other corporate departments to ensure real estate strategies and projects are fully integrated and compliant with regulatory and corporate requirements and are aligned with enterprise objectives.
Support executive leadership with market insights, portfolio updates, and strategic recommendations.
Demonstrate excellent communication and interpersonal skills.