VP, Real Estate Development

Advance Stores Company•Raleigh, NC

19h•Hybrid

About The Position

The Vice President, Real Estate Development is responsible for leading the company's end-to-end new store development strategy and execution. This executive leader oversees all aspects of market expansion, site selection and acquisition, construction, lease administration, and disposition to ensure the successful delivery of the company's growth objectives. Reporting to the SVP, Corporate Finance and Real Estate, the VP leads a team of Director-level leaders responsible for Real Estate Development, Construction, and Lease Administration & Disposition. The role serves as a key strategic partner to Operations, Finance, Merchandising, Supply Chain, Legal, and Executive Leadership to identify growth opportunities, optimize capital investments, and deliver new stores on time, on budget, and aligned with the company's brand and operational standards. This role requires a highly strategic and results-oriented executive with deep expertise in real estate development, construction management, capital planning, and large-scale team leadership.

Requirements

Bachelor's degree in Real Estate, Business, Engineering, Construction Management, Architecture, Finance, or related field or experience equivalent.
15+ years of progressive leadership experience in retail real estate development, construction, or related fields.
7+ years of executive leadership experience managing leaders-of-leaders.
Proven success leading large-scale, multi-site development programs.
Demonstrated expertise in site selection, deal negotiation, construction management, and capital planning.
Experience managing complex budgets and capital investment portfolios.
Strong financial acumen, including investment analysis, ROI evaluation, and capital allocation.
Exceptional leadership, communication, negotiation, and stakeholder management skills.
Willingness to travel as needed to support development and construction activities.

Nice To Haves

Master's degree (MBA or related field), preferred.
Experience leading development programs in a multi-unit retail organization.
Experience managing national real estate and construction portfolios.
Knowledge of retail store planning, design standards, and opening processes.
Experience supporting aggressive growth and transformation initiatives.

Responsibilities

Develop and execute the company's multi-year new store growth strategy.
Lead market analysis and site selection efforts to identify opportunities for expansion and maximize return on invested capital.
Establish long-range development plans aligned with enterprise growth objectives.
Partner with executive leadership on market prioritization, investment decisions, and strategic growth initiatives.
Develop and maintain a robust pipeline of development opportunities across all markets.
Oversee all site acquisition activities, including market identification, land acquisition, lease negotiations, and purchase transactions.
Ensure rigorous financial analysis and investment underwriting for all development opportunities.
Lead relationships with brokers, developers, landlords, municipalities, and external development partners.
Oversee entitlement, zoning, permitting, and governmental approval processes.
Balance growth objectives with financial discipline and risk management considerations.
Provide executive oversight for construction planning and execution across the portfolio.
Ensure projects are delivered safely, on schedule, within budget, and according to company standards.
Monitor capital expenditures and construction budgets while driving cost efficiency and accountability.
Lead contractor, consultant, architect, and vendor relationships.
Champion continuous improvement in project management, construction delivery, and operational processes.
Develop and manage annual operating and capital budgets.
Monitor portfolio performance and investment returns.
Establish metrics, reporting, and governance processes for development and construction activities.
Drive disciplined capital allocation and investment decision making.
Deliver accurate forecasts and executive-level reporting.
Lead, coach, and develop Director-level leaders and their organizations.
Build a high-performing culture focused on accountability, collaboration, innovation, and execution excellence.
Establish scalable organizational structures and operating processes to support growth.
Develop succession plans and leadership pipelines across all functional areas.
Foster strong partnerships across Real Estate, Operations, Finance, Supply Chain, Legal, and HR.