Sr. Real Estate Development Manager

Advance Stores Company•Raleigh, NC

6d•$120,000 - $160,000

About The Position

The Sr. Real Estate Development Manager is accountable for physical growth, portfolio optimization, and real estate cost management within an assigned geographic territory. The role identifies, evaluates, and advances real estate opportunities across multiple markets and serves as a liaison between the Real Estate team and field operations to align strategic goals with on-the-ground execution. The manager works with property owners, developers, brokers, municipalities, and internal teams to implement strategies in assigned markets. The role requires extensive travel to target markets to evaluate potential sites, meet brokers, and assess opportunities. It collaborates with Real Estate Analytics on market roadmaps; builds broker and developer relationships; coordinates property tours and reviews listings; and works with Operations, Construction, and Legal on site selection, feasibility, and execution. The manager sources existing properties and ground-up development opportunities, negotiates Letters of Intent, maintains site and landlord records in Lucernex, oversees site plans and architectural drawings, and prepares site packages for Real Estate Committee review. Approved sites are handed off to Construction, with stakeholder relationships maintained through lease negotiation and build-out. The position requires 75% travel and is located within or close to the assigned market. The stated salary range is $120,000–$160,000. Advance Auto Parts describes its health and wellness benefits as comprehensive; further details are provided through its benefits website.

Requirements

Prior experience in market development and real estate negotiations.
Strong negotiation, communication, and relationship-building skills.
Proficiency with real estate systems such as Lucernex and the Microsoft Office Suite.
Ability to travel frequently and work independently in a fast-paced environment.
Consistent attention to detail and high accuracy.
Strong real estate financial background, including ability to understand a P&L and calculate figures such as square footage, interest, commissions, development cap rates, and percentages.
Demonstrated success in cross-functional collaboration, internally and externally, to achieve shared goals.
5–7 years of experience in market or real estate development for a retail organization.
Bachelor’s degree in real estate, business, finance, or a similar field, or an equivalent combination of education and experience.
Ability to travel 75% and be located within or close to the assigned market.

Nice To Haves

CCIM (Certified Commercial Investment Member) designation.
Real Estate Agent or Broker License.

Responsibilities

Travel extensively to target markets to evaluate potential sites, meet with brokers, and assess real estate opportunities.
Collaborate with the Real Estate Analytics team to review market roadmaps and provide field-based insights to refine strategy.
Build and maintain relationships with real estate brokers and preferred developers; coordinate property tours, review listings, and assess ground-up development opportunities.
Partner with Operations, Construction, and Legal teams on site selection, development feasibility, and project execution.
Source properties, including existing buildings and ground-up developments, and lead negotiations of Letters of Intent with property owners.
Maintain accurate landlord and site information in Lucernex and manage documentation throughout the development lifecycle.
Oversee site plans, architectural drawings, and visual documentation.
Prepare comprehensive site packages for Real Estate Committee review.
Transition approved sites to the Construction team and maintain relationships with brokers, landlords, and other stakeholders through lease negotiation and build-out.