Real Estate Manager

Five Guys • Alexandria, VA

3d • $135,000 - $150,000 • Hybrid

About The Position

The Real Estate Manager leads real estate activity within an assigned territory to support Five Guys' company and franchise development objectives, including new restaurants and relocations. This role develops market-level real estate strategies, maintains a qualified development pipeline, evaluates and negotiates prospective sites, and advances site recommendations through the internal approval process. Working closely with franchisees, brokers, landlords, Operations, Market Planning, Design, and Construction, the Real Estate Manager helps protect site quality, deal economics, and the successful delivery of approved locations in accordance with Five Guys standards.

Requirements

• Bachelor's degree in Business Administration, Real Estate, Finance, or a related field; equivalent relevant experience may be considered.
• Six to eight years of commercial real estate or related experience, including significant responsibility for site selection, transaction management, and lease negotiations.
• Five to seven years of experience supporting development in a franchise environment; restaurant, QSR, or fast-casual experience is strongly preferred.
• Working knowledge of real estate strategy, market analysis, development feasibility, lease economics, budgeting principles, and contractual arrangements is required.
• Strong written, verbal, interpersonal, documentation, and presentation skills are required, including the ability to clearly communicate business terms, risks, open issues, recommendations, and complex real estate information to franchisees, brokers, landlords, Operations, Legal, Design, Construction, and senior leadership.
• Strong quantitative reasoning and business math skills, including the ability to understand lease economics, occupancy costs, development costs, budgeting principles, and related financial considerations.
• Sound judgment, critical thinking, and independent reasoning to evaluate complex real estate and development issues, clarify ambiguity, influence without direct authority, and recommend practical solutions.
• Ability to build cross-functional relationships, resolve issues, manage competing priorities and deadlines, and escalate matters appropriately.
• Advanced proficiency with Microsoft Office applications is required, along with the ability to learn and effectively use mapping, pipeline, reporting, and real estate management systems.

Nice To Haves

• Restaurant, QSR, or fast-casual experience is strongly preferred.

Responsibilities

• Develops and executes real estate strategies for assigned markets and territories in alignment with annual development plans and growth priorities.
• Partners with Market Planning and Operations to identify priority trade areas, whitespace, infill opportunities, relocations, and potential market impacts.
• Directs approved brokerage partners and proactively sources opportunities to maintain a qualified pipeline sufficient to support opening goals.
• Serves as the primary real estate resource for assigned franchisees; establishes expectations, conducts recurring pipeline reviews, and holds franchisees and brokers accountable for development schedules and commitments.
• Evaluates trade areas and sites using demographics, traffic patterns, access, visibility, competition, co-tenancy, activity generators, occupancy costs, development costs, and internal mapping tools.
• Conducts market tours and site inspections; prepares complete, timely site evaluation materials and presents recommendations through the internal site approval process.
• Engages Design and Construction early to assess utilities, prototype fit, landlord scope, constructability, and other feasibility considerations.
• Leads letters of intent and business-term negotiations, including rent, tenant improvement allowances, landlord work, delivery conditions, exclusivity, signage, options, kick-out rights, and commencement provisions.
• Maintains accurate deal records, milestones, forecasts, and status reporting; identifies transaction and schedule risks early, coordinates cross-functional resolution, and escalates material issues with clear recommendations.
• Supports asset-management initiatives, including relocations, encroachment reviews, market impact analysis, and other portfolio optimization efforts.
• Builds productive relationships with franchisees, brokers, landlords, developers, vendors, and internal partners while consistently demonstrating Five Guys values and ethical business practices.
• Performs other related duties as assigned.

What This Job Offers

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