Reporting to the Sr. Director of Development, the Sr. Real Estate Asset Manager oversees Peet's lease renewals and new store development. Sr. Real Estate Asset Manager should be experienced in all facets of acquisition, administration, relocation and disposition of leased/owned property. Skills to include commercial, retail leasing, subleasing and disposition with planning, tracking, evaluating and reporting on the performance of lease portfolio. Ability to work with a wide variety of corporate functions to assist in the development of short and long-range real estate requirements. Skilled in negotiating million-dollar, complex real estate agreements. Experienced in overseeing tenant improvement projects and familiarity with construction practices. You will use the same extraordinary selectivity we use to source our coffees and teas to manage our real estate portfolio and find sites of uncompromising quality. The Real Estate Asset Manager builds relationships with our outside brokers, real estate developers and landlords in a professional manner which ensures the quality of Peet's brand experience. This is a full-time exempt role.
Manage current real estate assets by taking a proactive approach by anticipating lease renewals and terminations and all critical dates in property tax appeals.Develop business justification and recommendations for presentation to user groups and executive management team for approval.
Ability to work with a wide variety of corporate wide functions to assist in the development of short and long range real estate requirements.
Assist with the strategic planning for the growth of the Peet's new stores growth, including financial analysis, market information, offering terms and conditions, marketing materials, contract review, and negotiations.
Review and update real estate best practices, forms and documents and enhancements to the real estate database that will improve the quality of real estate delivery. Develop benchmarking standards, and key metrics and update periodically.
Partner with project and construction management for field projects and oversee conformance to lease requirements such as obtaining landlord consent, negotiating restoration requirements
Maintain excellent relationships with internal customers, senior management, legal, tax, risk management, landlords, vendors, consultants, and outside brokers throughout the U.S.
Integral part of real estate market planning process to identify high potential trade areas and target priority projects within them
Develop relationships and manage external brokers and developers to source Peet's development opportunities by market.
Perform demographic analysis on potential sites to ensure they meet targeting criteria and sales forecast.
Run pro-forma financial analysis on prospective sites to ensure they meet/exceed our return on investment criteria.
Analyze new store opening trends and refine trade area selection and site criteria accordingly.
Partner with Peet's construction team to negotiate tenant improvements and meet site infrastructure requirements for HVAC, power, plumbing, ADA, health & building codes.
Track and provide reporting to senior leadership on the status/progress of development of new store locations, trade area penetration, lease renewals and remodels.
Secure additional term required to amortize remodel capital when appropriate.
Other responsibilities as assigned by the Sr. Director of Development.
A minimum of 10-15+ years in commercial or corporate retail real estate development in expanding ideally either specialty or food concepts.
Leadership skills in real estate negotiations and excellent written/verbal communications.
Proven experienced deal maker
Strong analytical skills in both financial, analytical and demographics.
A thorough understanding of construction and permitting process.
Exceptional negotiation and follow-through skills with legal contracts.
Results orientation and experience delivering store period plans.
Ability to work independently and as part of a shared resource team.
Ability to travel as needed.
Property management and lease renewal skills with extensive experience in lease provision negotiations is required.
Passion for coffee & tea, or specialty food is desirable.
Peet's Coffee & Tea