Job Description: Retail Real Estate Manager
Position Overview:
The Retail Real Estate Manager is responsible for overseeing the real estate operations for retail locations within our organization. This role requires strong leadership, strategic thinking, and exceptional negotiation skills to ensure the successful management of our retail real estate portfolio. The Retail Real Estate Manager will work closely with internal stakeholders and external partners to identify, evaluate, and secure suitable retail spaces to drive business growth and maximize profitability.
Key Responsibilities:
1. Develop and implement real estate strategies:
- Identify and evaluate potential retail locations based on market research and analysis.
- Collaborate with the senior management team to develop a real estate strategy aligned with the company's growth objectives.
- Monitor industry trends and competitor activities to identify potential opportunities and challenges.
2. Site selection and acquisition:
- Conduct detailed site evaluations to determine the suitability of potential retail locations.
- Negotiate lease terms, rental rates, and other financial aspects with property owners and landlords.
- Manage lease agreements, ensuring compliance with legal requirements and company policies.
- Coordinate with legal and finance teams to finalize lease documentation.
3. Lease administration and portfolio management:
- Oversee the administration of lease agreements, including renewals, extensions, and terminations.
- Conduct regular property inspections to ensure compliance with lease terms and conditions.
- Collaborate with property management teams to address maintenance issues and optimize property performance.
- Develop and maintain a comprehensive database of retail property information, lease terms, and rental rates.
4. Financial analysis and budgeting:
- Prepare financial analyses, including pro forma statements, cash flow projections, and return on investment calculations.
- Assist in developing annual budgets for real estate-related expenses, such as lease payments, property taxes, and utilities.
- Monitor and analyze financial performance of each retail location, providing recommendations for cost-saving measures and profitability enhancement.
5. Vendor and stakeholder management:
- Build and maintain strong relationships with real estate brokers, landlords, and other external partners.
- Collaborate with internal teams, such as operations, finance, and legal, to ensure alignment and effective communication.
- Conduct regular meetings with stakeholders to address concerns, provide updates, and discuss future plans.
Required Skills and Qualifications:
1. Education:
- Bachelor's degree in business administration, real estate, or a related field. A Master's degree is preferred but not required.
2. Experience:
- Minimum of 5 years of experience in retail real estate management or commercial real estate.
- Proven track record of successfully negotiating lease agreements and managing retail real estate portfolios.
- Strong knowledge of real estate laws, regulations, and industry best practices.
3. Technical Skills:
- Proficient in financial analysis and budgeting.
- Familiarity with lease administration software and real estate management systems.
- Excellent computer skills, including MS Office Suite (Word, Excel, PowerPoint).
4. Soft Skills:
- Strong negotiation and communication skills.
- Exceptional analytical and problem-solving abilities.
- Detail-oriented and highly organized.
- Ability to work independently and make sound decisions.
- Excellent leadership and team management skills.
This job description outlines the primary responsibilities, skills, and qualifications required for the Retail Real Estate Manager role. It is not intended to be an exhaustive list of all duties and responsibilities, but rather a comprehensive overview.