Real Estate Manager

Chipotle Mexican Grill; Chicago (IL); On-site; USD 121,000 - 171,000; Full time

Job summary

Chipotle Mexican Grill seeks a Regional Real Estate Manager to lead real estate development from site selection to restaurant openings across the designated geography. You will supervise a cross-functional team and manage relationships with landlords, brokers, and attorneys.

Expect frequent collaboration with Operations, Development Directors, and ELT to secure approvals and drive multi-year market plans. Travel across territories is required in a fast-paced environment.

Qualifications

• BA/BS or equivalent in education and experience in real estate, finance, or GIS.
• 5–8 years of experience in the field.
• Minimum of five years of experience with successful QSR real estate site selection in the designated region.
• Able to effectively manage people.
• Excellent written & verbal communication skills.
• Fast-paced, team-oriented environment.
• Highly organized and able to multi-task.
• Able to work independently with attention to detail and follow-through.
• Moderate overnight travel, heavy travel within territory.

Responsibilities

• Manage more than 20 new real estate projects each year from REAT approval to opening.
• Negotiate terms with landlords and coordinate with attorneys on contract status.
• Perform market research to assess real estate site opportunities and align with trade area priorities.
• Lead the Triad team (design & construction) as required.
• Oversee broker relationships and report site tours.
• Deliver executive level presentations to gain approval for new restaurant deals.
• Present market tours with senior leaders before approvals.
• Develop regional and market-level plans with Operations leadership, including multi-year outlook.
• Provide direction for re-zoning, variances, and other real estate development issues.
• Represent Chipotle in industry events and stay updated on real estate developments.

Skills

People management

Negotiation

Market research

Executive presentations

Strategic thinking

Cross-functional collaboration

MS Office

Education

BA/BS or equivalent

Tools

MS Office Suite

Real estate software

Job description

Food served fast does not have to be a typical fast-food experience.Chipotle has always done things differently, both in and out of our restaurants. We are changing the face of fast food, starting conversations, and directly supporting efforts to shift the future of farming and food. We hope you will join us as we continue to learn, evolve, and shape what comes next on our mission to make better food accessible to everyone.

THE OPPORTUNITY

The REM is a leader within the broader Development team. The REM will establish and execute a real estate development plan in their designated geography. They are a person who has the confidence of management to develop people, manage other members of the Triad in addition to outside brokers and consultants and demonstrates the strategic thinking that is needed to continue to grow at Chipotle. The REM is responsible for supervising the project from identifying the real estate project to opening of the restaurant.

WHAT YOU’LL DO

• Manage more than 20 new real estate projects each year while working with other members of the Triad in overseeing projects from REAT approval to opening, ensure all phases of projects are expedited and risks minimized, controlling the critical path of all transactions.
• Negotiate business terms and conditions of contracts with a variety of landlords from small investors to REITs while maintaining on-going communication with attorneys on contract status. Demonstrates a strong understanding of economic implications of all negotiated terms. Oversee and manage each deal from initial market plan through LOI to opening.
• Perform market research, both formal & informal, to assess real estate site opportunities while ensuring alignment with Development Director on trade area priorities. Ensure all real estate data in Chipotle’s project management system is up to date and accurate.
• Triad leader overseeing work of other Dev team members (design & construction) as required by the business.
• Oversee and manage numerous broker relationships including site prioritization, negotiation guidance and related site tour reporting.
• Deliver executive level presentations to Chipotle’s real estate ELT sub-committee to gain approval for proposed new restaurant deals. Prior to executive approval, organize and present market tours with the CDO, Development Director and Operations leadership.
• Manage and develop a regional and market level plan by collaborating with Operations leadership. A market plan encompasses a multi-year outlook for existing and new restaurant development. Present plans annually at the cross functional Market Planning meetings. Maintain close communications with Operations partners throughout the new store development process.
• Provide necessary direction & support for issues related to re-zoning, variances, and other technical real estate development issues.
• Represent Chipotle in industry settings, such as local/regional/national ICSC events; stay abreast of real estate issues and developments within the REM's region and within the industry.

WHAT YOU’LL BRING TO THE TABLE

• BA/BS or an equivalent in education and experience in real estate, finance, or GIS
• 5-8 Years of experience in field
• Minimum of five (5) years of experience with successful QSR real estate site selection in the designated region
• Able to effectively manage people.
• Expert knowledge of and ability to use a PC and MS Office Suite.
• Have excellent written & verbal communication skills.
• Can work in a fast-paced, team-oriented environment.
• Be highly organized and able to multi-task.
• Able to work independently with attention to detail, accuracy, documentation and follow-thru.
• Moderate overnight travel, heavy travel within territory

WHO WE ARE

Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. Chipotle has over 3,000 restaurants in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant company of its size that owns and operates all its restaurants. Chipotle is ranked on the Fortune 500 and is recognized on the 2022 list for Fortune's Most Admired Companies. With over 100,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. For more information or to place an order online, visit www.chipotle.com

PAY TRANSPARENCY

A reasonable estimate of the current base salary range for this position is $121,000-$170,500. You are also eligible for annual cash bonuses and equity awards based upon performance and other factors. Actual compensation offered may vary depending on skill level, experience, and/or education. Chipotle offers a competitive total rewards package, which includes medical, dental, and vision insurance, 401k, sick leave, vacation time, and much more. Visit https://jobs.chipotle.com/benefits

Chipotle Mexican Grill is an equal opportunity employer that values diversity at all levels. As a people-first company rooted in values, our purpose extends beyond serving nutritious food using real ingredients. It means hiring world-class individuals and fostering a culture that champions diversity, ensures equity, and celebrates inclusion. All qualified applicants, regardless of personal characteristics, are encouraged to apply.

Qualified applicants with disabilities may be entitled to reasonable accommodation under the terms of the Americans with Disabilities Act and/or certain state or local laws. Please contact [e-mail] if you need assistance or an accommodation due to a disability.