Manager, Real Estate - Lease Renewal

Overall Job Summary

This position is responsible for Optimizing, Negotiating and Renewing the existing Lease Portfolio for a defined region. This role is expected to take ownership of their defined region within the overall company portfolio. This includes organizing and coordinating feedback/data from operations, facilities and lease admin to determine the go forward strategy for all current locations. This role will evaluate the best course of action for each store and negotiate in the best interests of the company. This position will be responsible for creating Real Estate Packages and obtaining Real Estate Committee approval for lease extensions, modifications or cancellations and expansions. This role will also assist lease admin in negotiations with landlords, outside of the renewal process.

Essential Duties and Responsibilities (Min 5%)

• Negotiate favorable lease terms through facility improvement allowances, rent reductions, additional Options, language adjustments or improvements/additions to the facility etc.

• Manage the renewal pipeline to ensure adequate lease terms for stores while achieving annual savings.

• Manage the lease exit strategy and negotiation on all closed or vacant store buildings to reduce financial exposure and create revenue via store disposition.

• Partner with Merchandizing to tie the Fusion remodel decision into the portfolio renewal process, to ensure we are reinvesting in the right locations.

• Partner with the New Store Real Estate Directors on relocation opportunities and ensure there is adequate lease term to cover the entire the relocation process.

• Complete and prepare real estate packages for presentation to Real Estate Committee to ensure timely approval for lease extensions, expansions, store remodeling, and lease improvement.

• Coordinate with legal on all documents for lease extensions and lease modifications.

• Manage outside consultants and internal business partners to lease, sublease, or return to landlords unused store space to reduce expenses and/or create revenue.

• Manage external business partners to facilitate lease renewal negotiations.

• Track status and provide reporting on existing store locations, lease renewals, expansions and remodels.

• Partner with RE Systems team to transition the Renewal process from Excel into project management software.

• Work with 3rd party brokers to manage Sale Lease Back Process

Required Qualifications

Experience: 5+ years of experience in retail leasing. Retail experience is preferred.

Education: Bachelor's degree in Finance, Business, or related field is preferred. Any suitable combination of education and experience will be considered.

Preferred knowledge, skills or abilities

⦁ Knowledge of lease terminology and typical lease provisions

⦁ Strong communication and negotiation skills

⦁ Ability to read and interpret maps, plans, and blueprints

⦁ Proficient with Lease Admin Software such as Lucernex

⦁ Skilled at project management

⦁ Proficient in Microsoft Office.

⦁ Architectural plan reading skills

Working Conditions

• Normal office working conditions

Physical Requirements

• Sitting

• Standing (not walking)

• Walking

• Lifting up to 10 pounds

Disclaimer

This job description represents an overview of the responsibilities for the above referenced position. It is not intended to represent a comprehensive list of responsibilities. A team member should perform all duties as assigned by his/ her supervisor.