VP, National Real Estate Group, Northeast Region
Outfront Media Inc
Fairfield , CA 94533
Posted 4 months ago
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Company Information: OUTFRONT Medias strength is a balance of real estate and location-based advertising sales.
The many high traffic locations within the companys portfolio are the foundation upon which advertising sales are based. OUTFRONT manages over 400,000 individual sites surrounding some of the most iconic and valuable locations within the US and Canada. The media value at each of these sites is derived from local and national marketers desire to reach audiences with their specific message.
Location-based marketing has gained tremendous popularity as advertisers now appreciate the value of their message is, to a significant degree, dependent upon timing and context. If that message is delivered while a potential customer is more receptive (near a store or point of purchase, in traffic with little else to distract them or on a train with time to consider a product or service), it is more effective and thus more valuable. This value is now being measured and enhanced through technology and sophisticated analytics, some of which uses sensors resident on our displays.
OUTFRONTs real estate also provides other derivative revenue streams through telecommunications. OUTFRONT owns many sites and also manages properties on behalf of real estate partners. These partner relationships can take several forms but are principally either long-term leases or, to a lesser extent, sales representation agreements.
The companys relationships with site owners must be maintained by superior client service. These relationships will evolve over time as we use additional technology and provide partners with new revenue opportunities. It is equally important that we find additional strategic locations and form new relationships with real estate owners.
Job Description: Responsible for Northeast Real Estate (RE) development efforts focusing primarily on securing new or relocation sites and upgrading existing sites. Manage key strategic RE partner relationships with whom a substantial number of existing site agreements reside and new opportunities are potentially created.
This responsibility is distinct from the companys ongoing asset management efforts around its many 1000s of existing site arrangements. Evaluate and develop a strategic growth plan along with existing RE development efforts and identify individuals that can move between Asset Management and Development. Identify which markets need dedicated focus/individuals and which markets can be managed through shared resources or backfilling support or RE functions as necessary.
Must understand the value of each potential location and also the network and opportunities for growth that these sites create together. Understand the make-up and turnover of the regions assets, and develop strategic direction for asset development. Work with General Managers to support and supplement local RE reps in lease negotiation and asset development.
Lead Training & Development of local RE reps. Develop and maintain many strategic, high profile relationships within the company. Manage alternate channel development (landmark and joint venture) and pursue acquisitions.
Work with government affairs, local markets, and legal team as needed. Develop dashboard for reporting the following: lease expirations, renewal status, negotiations, and pipeline of opportunities.
Bachelors Degree 10+ years experience in Real Estate acquisitions, management, and development, specifically, identifying and qualifying potential new leads.
Strong knowledge of negotiating real estate leases, the trade-offs involved with deal making and a sense of value for each element of an arrangement (purchases, partnerships, representation & operational agreements). Must be able to lead diligence efforts, as required. Zoning and permitting experience, political or lobbying experience and, ideally, a basic understanding of local municipal code and state regulatory issues affecting the OOH industry. Strong presence in order to represent OUTFRONT with large real estate developers (Related, etc.) and small owners alike.
Establish priorities for strategic targeting of markets/sites based upon their potential advertising value, and in consultation with senior real estate and sales management teams. Working knowledge of new display technology, or the ability to learn it, as youll be working with Real Estate, Digital and Operations teams to get cost estimates for constructing new displays Analytic leader and strategic spokesperson with regards to real estate and development. Ability to raise the companys profile within and amongst the appropriate real estate market constituencies.
Must be very team-oriented and work with the Asset Management team who maintain existing leases involving on-going client maintenance for the majority of the companys partners, and take on many of the relationships developed by this new effort. Constantly track trends and inventory in markets and submarkets. Proactive and responsive to client and management needs.
Strong project management capabilities and the ability to manage and resolve various issues. Strong organizational, mentoring, communication and team building skills. Establish a development philosophy around OUTFRONT markets.
The philosophy should include, but is not limited to the following elements: OUTFRONT Principles of Development Top 25 Markets (NFL Markets) Markets that offer Transit and Billboard opportunities Markets that compliment National Ad sales Sites that can take advantage of an expanding product set: Cellular Experiential Digital displays WIFI Data & Audience Analytics To all Recruitment Agencies:
OUTFRONT Media LLC does not accept agency and unsolicited resumes. Please do not forward resumes to our OUTFRONT Media employees or any other company location. OUTFRONT Media is not responsible for any fees related to unsolicited resumes.
OUTFRONT Media Is An Equal Opportunity Employer All applicants shall receive equal consideration without regard to race, color, religion, gender, marital status, gender identity or expression, sexual orientation, national origin, age, veteran status or disability. Please refer to the OUTFRONT Media Affirmative Action policy statement.