Real Estate Manager

Five Guys Enterprises; Phoenix (AZ); On-site; USD 90,000 - 140,000; Full time

Job summary

Five Guys Enterprises seeks a Real Estate Manager to drive real estate activity across selected territories, shaping market strategies, maintaining a robust pipeline, and evaluating sites for new restaurants and relocations. You will present recommendations to internal approvals, collaborating with franchisees, brokers, and operations teams.

Collaborations with Design, Construction, Legal, and Operations will assess feasibility, negotiate terms, and ensure successful delivery of locations while

Qualifications

• Bachelor's degree or equivalent experience in real estate or finance.
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• Six to eight years in commercial real estate with site selection and lease negotiations.
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• Five to seven years supporting development in a franchise environment.

Responsibilities

• Lead market real estate strategies and maintain a developed development pipeline.
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• Evaluate trade areas and sites using demographics, traffic, access, and costs.
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• Negotiate terms with landlords and lead letters of intent.

Skills

Market analysis

Negotiation

Financial modelling

Communication

Education

Bachelor's degree in Business Administration, Real Estate, Finance, or related field

Tools

Microsoft Office

Real estate management systems

Mapping software

Job description

The Real Estate Manager leads real estate activity within an assigned territory to support Five Guys' company and franchise development objectives, including new restaurants and relocations. This role develops market-level real estate strategies, maintains a qualified development pipeline, evaluates and negotiates prospective sites, and advances site recommendations through the internal approval process. Working closely with franchisees, brokers, landlords, Operations, Market Planning, Design, and Construction, the Real Estate Manager helps protect site quality, deal economics, and the successful delivery of approved locations in accordance with Five Guys standards.

Essential Duties and Responsibilities

• Develops and executes real estate strategies for assigned markets and territories in alignment with annual development plans and growth priorities.
• Partners with Market Planning and Operations to identify priority trade areas, whitespace, infill opportunities, relocations, and potential market impacts.
• Directs approved brokerage partners and proactively sources opportunities to maintain a qualified pipeline sufficient to support opening goals.
• Serves as the primary real estate resource for assigned franchisees; establishes expectations, conducts recurring pipeline reviews, and holds franchisees and brokers accountable for development schedules and commitments.
• Evaluates trade areas and sites using demographics, traffic patterns, access, visibility, competition, co-tenancy, activity generators, occupancy costs, development costs, and internal mapping tools.
• Conducts market tours and site inspections; prepares complete, timely site evaluation materials and presents recommendations through the internal site approval process.
• Engages Design and Construction early to assess utilities, prototype fit, landlord scope, constructability, and other feasibility considerations.
• Leads letters of intent and business-term negotiations, including rent, tenant improvement allowances, landlord work, delivery conditions, exclusivity, signage, options, kick-out rights, and commencement provisions.
• Maintains accurate deal records, milestones, forecasts, and status reporting; identifies transaction and schedule risks early, coordinates cross-functional resolution, and escalates material issues with clear recommendations.
• Supports asset-management initiatives, including relocations, encroachment reviews, market-impact analysis, and other portfolio optimization efforts.
• Builds productive relationships with franchisees, brokers, landlords, developers, vendors, and internal partners while consistently demonstrating Five Guys values and ethical business practices.
• Serves as the primary real estate resource for assigned franchisees; establishes expectations, conducts recurring pipeline reviews, and holds franchisees and brokers accountable for development schedules and commitments.
• Performs other related duties as assigned.

Qualifications Guidelines

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Education/Experience

• Bachelor's degree in Business Administration, Real Estate, Finance, or a related field; equivalent relevant experience may be considered.
• Six to eight years of commercial real estate or related experience, including significant responsibility for site selection, transaction management, and lease negotiations.
• Five to seven years of experience supporting development in a franchise environment; restaurant, QSR, or fast-casual experience is strongly preferred.
• Working knowledge of real estate strategy, market analysis, development feasibility, lease economics, budgeting principles, and contractual arrangements is required.

Language Ability

Strong written, verbal, interpersonal, documentation, and presentation skills are required, including the ability to clearly communicate business terms, risks, open issues, recommendations, and complex real estate information to franchisees, brokers, landlords, Operations, Legal, Design, Construction, and senior leadership.

Math Ability

This position requires strong quantitative reasoning and business math skills, including the ability to understand lease economics, occupancy costs, development costs, budgeting principles, and related financial considerations.

Reasoning Ability

The position requires sound judgment, critical thinking, and independent reasoning to evaluate complex real estate and development issues, clarify ambiguity, influence without direct authority, and recommend practical solutions. The role must be able to build cross-functional relationships, resolve issues, manage competing priorities and deadlines, and escalates material issues with clear recommendations.

Computer Skills

Advanced proficiency with Microsoft Office applications is required, along with the ability to learn and effectively use mapping, pipeline, reporting, and real estate management systems.

Supervisory Responsibilities

This position requires no supervisory experience.

Physical Demands

This position operates in both office and field environments and requires frequent travel within the assigned territory and occasional travel elsewhere, generally 40%-50% depending on business needs. The role routinely requires working at a computer and visiting active or prospective restaurant sites, including construction environments.

Special Requirements/Certification

None

Work Location and Onsite Attendance

Work location and onsite attendance requirements will be determined by the company in accordance with company practice and business needs.

Additional Information

The above job description is not intended to be an all-inclusive list of duties and standards of the position. Incumbents will follow any other instructions, and perform any other related duties, as assigned by their supervisor, policy and company management.

Equal Opportunity Employer

Equal Opportunity Employer

Know Your Rights

This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.