Director, Real Estate - US West

Lululemon Athletica; Vancouver; Hybrid; CAD 157,000 - 207,000; Full time

Job summary

An established industry player is seeking a dynamic Director of Real Estate to lead their Store Development team. This pivotal role involves overseeing a talented group of real estate professionals, managing leasing activities, and driving strategic growth in the Western Region. The ideal candidate will possess a wealth of experience in retail real estate, exceptional negotiation skills, and a strong ability to mentor and develop future leaders. With a commitment to fostering a positive and inclusive workplace, this role offers the opportunity to make a significant impact while enjoying a hybrid work arrangement that balances in-person collaboration with remote flexibility.

Benefits

Extended health and dental benefits

Paid time off

Savings and retirement plan matching

Generous employee discount

Fitness & yoga classes

Parenthood top-up

Development course offerings

Mentorship programs

Leadership series

Qualifications

• 10+ years of real estate leasing experience, preferably in retail.
• Proven leadership in managing real estate teams and portfolios.

Responsibilities

• Lead a team managing real estate deals and negotiations.
• Develop and execute strategic plans for real estate growth.

Skills

Real Estate Leasing

Team Leadership

Negotiation Skills

Financial Acumen

Strategic Planning

Education

Bachelor's Degree in Business or Real Estate

Job description

who we are

lululemon is an innovative performance apparel company for yoga, running, training, and other athletic pursuits. Setting the bar in technical fabrics and functional design, we create transformational products and experiences that support people in moving, growing, connecting, and being well. We owe our success to our innovative product, emphasis on stores, commitment to our people, and the incredible connections we make in every community we're in. As a company, we focus on creating positive change to build a healthier, thriving future. In particular, that includes creating an equitable, inclusive and growth-focused environment for our people.

about this team

The Store Development Real Estate team is directly responsible for the physical store growth and portfolio management through leasing activities & lease actions. Reporting to the SVP, Store Development, this role will oversee and lead a team of real estate professionals responsible for a specific territory that together consists of over 200 stores, which is half of the United States fleet of stores. In collaboration with the VP of Retail Operations West, they will be responsible for development of the strategic, long range market plan for the region. This Director role will ensure that their team delivers upon sourcing sites, negotiating leases and supporting the opening of major capital investment projects on time and meets the financial and strategic objectives of the company. They will be responsible to resolve portfolio wide landlord negotiations effectively, efficiently and within leasing guidelines that drives overall value and benefit to the company.

This is a key leadership role and will be responsible for developing the team into future leaders and subject matter experts who are considered to be best in class in the industry. This position will require travel with approximately 15-25% of their time being spent in market.

a day in the life: what you’ll do

• Manage senior team of real estate deal makers, providing the coaching & guidance needed to ensure lease terms meet company standards.
• Key liaison for senior management in the landlord & broker community, resolving portfolio wide conformity lease issues and specific final leasing deal points.
• Collaborate with leadership in Retail Operations to resolve any store issues and concerns that impact day to day operations.
• Develop the long-range strategic plan for the real estate growth of the Western Region portfolio and ensure execution of the plan to deliver profitable financial results that meet and/or exceed corporate governance metrics.
• Drive their portfolio to deliver upon Annual Operating Plan (AOP) targets (on time and within parameters) and Long Range Plan (LRP), working in partnership with Store Construction, Store Planning, Design, Financial Planning, Retail Operations and other key departments.

qualifications

• 10+ years real estate leasing experience, with a strong preference representing retail tenants.
• 10+ years of leading real estate professionals and teams, responsible for leasing real estate and managing a portfolio of stores.
• Expert knowledge of lease language & related legal documentation specific to retail real estate.
• Must be confident and concise in storytelling/presenting to Sr Executives (CEO, President and BoD) that is supported with proficient financial acumen.
• Strategic, people-focused leader who can develop and mentor teams and getting them to excel in their role.
• Must have strong and proven work ethic, operating with utmost integrity.
• Expert negotiation skills and tactics, who can articulate a compelling argument and drive negotiations to a favourable conclusion.
• Must be able to collaborate and enroll others with a desire for constant self-improvement and learning.

must haves

• Acknowledge the presence of choice in every moment and take personal responsibility for your life.
• Possess an entrepreneurial spirit and continuously innovate to achieve great results.
• Communicate with honesty and kindness and create the space for others to do the same.
• Lead with courage, knowing the possibility of greatness is bigger than the fear of failure.
• Foster connection by putting people first and building trusting relationships.
• Integrate fun and joy as a way of being and working, aka doesn’t take yourself too seriously.

Additional Notes
Authorization to work in Canada is required for this role.

Compensation and Benefits Package

lululemon’s compensation offerings are grounded in a pay-for-performance philosophy that recognizes exceptional individual and team performance. The typical hiring range for this position is from $157,400 - 206,600 CAD annually; the base pay offered is based on market location and may vary depending on job-related knowledge, skills, experience, and internal equity. As part of our total rewards offering, permanent employees in this position may be eligible for our competitive annual bonus program and equity offerings, subject to program eligibility requirements.

At lululemon, investing in our people is a top priority. We believe that when life works, work works. We strive to be the place where inclusive leaders come to develop and enable all to be well. Recognizing our teams for their performance and dedication, other components of our total rewards offerings include support of career development, wellbeing, and personal growth:

• Extended health and dental benefits, and mental health plans.
• Paid time off.
• Savings and retirement plan matching.
• Generous employee discount.
• Fitness & yoga classes.
• Parenthood top-up.
• Extensive catalog of development course offerings.
• People networks, mentorship programs, and leadership series (to name a few).

workplace arrangement

This role is classified as Hybrid under our SSC Workplace Policy:

In-person collaboration is important, and much of the role can be performed remotely. Work is performed onsite at least 3 days per week.