Sr Real Estate Manager- East

REI•Seattle, WA

44d•Remote

About The Position

The Senior Real Estate Manager- East is accountable for executing REI's retail store strategy related to physical store growth, portfolio optimization, and portfolio management in the Eastern region by facilitating site selection, acquisition and development of new store site locations, relocations, downsizing, expansions, lease renewals, and store closures that meet the criteria and objectives of the REI real estate strategy. Additionally, the Senior Real Estate Manager will be responsible for leasing and other projects and transactions related to non-retail corporate real estate including offices, design centers, and distribution centers. The Senior Real Estate Manager must possess a solid understanding of commercial real estate principles and practices (particularly leasing and purchasing), as well as a working knowledge of the various disciplines involved in the store development process, from market analysis to store opening and through post-opening performance analysis. This role is responsible for collaborating with key internal stakeholders including Legal, Finance, Design, Construction, Property Management, Facilities, and Store Operations and leading projects from site selection through store opening. The ideal candidate is a creative and proactive problem-solver, natural relationship-builder, planner, and strategic thinker. This role requires thorough and advanced knowledge of retail market analysis, market planning, site selection, and deal negotiation. The ideal candidate has a demonstrated ability to lead cross-functional projects, motivate and manage brokers, think strategically, and foster productive relationships with landlords and developers. The ability to stay organized, manage time and priorities effectively, lead a dynamic workstream of various projects in various stages of development, and to influence outcomes in the best interest of REI, is critical to success in this role.

Requirements

Minimum 10 years of experience in a retail real estate environment, preferably with mid-size or big-box anchor tenants located in neighborhood, power, or regional shopping centers.
Must be located in Central or Eastern time zone
Demonstrated knowledge/skill in market planning and implementation for new locations, relocations, expansions, and market optimization.
Extensive knowledge of real estate development process including broker management, negotiation, real estate contracts, demographic analysis, financial analysis, site plans and zoning.
Experience blending analytical information including store performance, statistical modeling, and geographic analyses with market and site qualities to determine the best market strategy and store locations.
Computer skills including MS Office (Word, Excel, PowerPoint, Teams), SmartSheet, BluBeam, and GIS systems.
Strong organizational skills with high attention to detail with experience working in a fast-paced environment.
Uses business knowledge, innovative thinking, and sound judgment in the solution of problems or the pursuit of business opportunities
Preferred location is to work remote within the assigned territory and with access (1-hour drive or less) to a major airport to facilitate the need for travel related to this role.
Travel up to 30% required.

Responsibilities

Responsible for the overall workstreams required to build and deliver a pipeline of new locations, relocations, and expansions.
Serve as the primary dealmaker in all real estate transactions; must have strong negotiation skills and be a creative problem-solver; demonstrates sound judgement and expected to foster win-win solutions in the best interest of the company.
Responsible for leading a cross-functional team to facilitate new store site selection, site evaluation, site approval, and lease negotiation processes.
Prepare new sites for approval in real estate committee including alignment on strategy and specific sites with the Stores Regional Directors.
Be the market expert in the assigned territory through regular market visits to investigate new sites, evaluate relocations, stay in-tune with retail development and shopping patterns including traffic and retail patterns, population growth, and demographic trends.
Provide consistent and effective feedback to the Market Research, Construction, Finance, Store Design, and Legal departments regarding project updates and timelines to allow for efficient and effective project planning and execution.
Partner with Property Management and Facilities to maximize shopping center operations and act as the escalation point to resolve landlord-related issues.
Collaborate with Design, Construction, Retail Operations and Legal (both internal and external counsel) to ensure the resolution of site-specific issues.
Partner with Construction to qualify specific site specifications with respect to construction costs and merchandising requirements.
Participate in Real Estate pipeline review meetings to prioritize tasks as needed; as the business owner, responsible for driving Real Estate specific deliverables to achieve critical milestone dates.
Manage and continually optimize REI's real estate broker network to ensure alignment on strategy and methods of execution, to ensure high levels of service, coordination of activities associated with potential sites, and document control throughout negotiations.
Partner with Market Research to create, interpret, and utilize trade area maps and demographics at a market and trade area level to target optimal new and relocation store opportunities.
Develop and maintain strong relationships with developers to promote the REI brand and facilitate the desirability of REI as a quality preferred tenant. Communicate new and relocation store objectives and strategies to preferred developer partners to deliver sites that support REI's market strategy at a national level.
Foster productive and direct relationships with key landlords including attending national and regional ICSC events to foster relationships and build networks with current landlords, prospective landlords/developers, and other industry/retailer peers.
Leveraging landlord contacts and relationships to resolve issues and disputes related to existing stores.