Sr. Real Estate Development Manager

Advance Auto Parts Inc.; Raleigh (NC); On-site; USD 120,000 - 160,000; Full time

Job summary

Advance Auto Parts, Inc. is seeking a Sr. Real Estate Development Manager to own growth, portfolio optimization, and real estate cost management across markets.

You will identify opportunities, assess LOIs, and coordinate with Operations, Construction, and Legal to ensure feasibility and alignment with strategic goals. This role requires 75% travel, strong negotiation and relationship-building skills, and a solid real estate financial background to analyze P&L, cap rates, and development

Qualifications

• Experience in market or real estate development for retail.
• Strong negotiation and relationship-building skills.
• Ability to travel 75% and work independently.
• Proficient with Lucernex and MS Office.

Responsibilities

• Travel frequently to evaluate sites and meet brokers.
• Collaborate with Real Estate Analytics to refine strategy.
• Engage brokers and developers; review listings and assess opportunities.
• Coordinate with Operations, Construction and Legal for feasibility and execution.
• Lead LOI negotiations and manage site documentation through development lifecycle.
• Oversee site plans and prepare site packages for Real Estate Committee review.

Skills

Negotiation

Communication

Relationship-building

Travel readiness

Attention to detail

Real estate finance

Cross-functional collaboration

Education

Bachelor's degree in real estate, business, finance or similar

Tools

Lucernex

Microsoft Office

Job description

Job Summary:

The Sr. Real Estate Development Manager is accountable for all aspects of physical growth, portfolio optimization, and real estate cost management in the manager’s assigned geographic territory. This role is critical in identifying, evaluating, and advancing new real estate opportunities across multiple markets and serves as the key liaison between the Real Estate team and field operations, ensuring alignment between strategic goals and on-the-ground execution. This role will be responsible for working with property owners, developers, brokers, municipalities, and all internal teams to implement the strategies in the assigned markets.

What will you do?

• Market Travel & Site Evaluation: Travel extensively to target markets to evaluate potential sites, meet with brokers, and assess real estate opportunities.
• Strategic Planning & Feedback: Collaborate with the Real Estate Analytics team to review market roadmaps and provide field-based insights to refine strategy.
• Broker & Developer Engagement: Build and maintain strong relationships with real estate brokers and preferred developers. Coordinate property tours, review listings, and assess ground-up development opportunities.
• Cross-Functional Collaboration: Partner with Operations, Construction, and Legal teams to align on site selection, development feasibility, and project execution.
• Site Identification & Negotiation: Source new properties (existing buildings, ground-up developments, etc.) and lead the negotiation of Letters of Intent (LOIs) with property owners.
• Administrative & System Management: Maintain accurate records in Lucernex, including landlord and site information, and manage documentation throughout the development lifecycle.
• Project Oversight: Oversee site plans, architectural drawings, and visual documentation. Prepare comprehensive site packages for Real Estate Committee review.
• Handoff & Relationship Management: Transition approved sites to the Construction team while maintaining ongoing relationships with brokers, landlords, and other stakeholders throughout lease negotiation and build-out phases.

Qualifications:

• Prior experience in market development and real estate negotiations
• Strong negotiation, communication, and relationship-building skills
• Proficiency in real estate systems (e.g., Lucernex) and Microsoft Office Suite
• Ability to travel frequently and work independently in a fast-paced environment
• Demonstrated consistent attention to detail with high accuracy
• Strong real estate financial background with ability to understand a P&L and ability to calculate figures and amounts such as square footage, interest, commissions, development cap rates, and percentages
• Demonstrated success in cross-functional collaboration, both internally and externally, to achieve shared goals

Certifications, Experience, and Education:

• Certifications: CCIM (Certified Commercial Investment Member) Designation and/or Real Estate Agent or Broker License preferred, not required
• Experience: 5-7 years of experience in market or real estate development for a retail organization; and Education: Bachelor’s degree in real estate, business, finance or similar field of study; or equivalent combination of education and/or experience

Location & Work Availability:

This position requires 75% travel and will be located within or in close proximity to the assigned market.

Benefits Summary:

Benefits: Advance Auto Parts offers a comprehensive health and wellness benefits program to improve the way of life for our Team Members and those who mean the most to them: their families.

Company Overview:

Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installers and do-it-yourself customers. As of December 28, 2024, Advance operated 4,788 stores primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 934 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at www.AdvanceAutoParts.com.

Equal Opportunity Employer Statement:

We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age national origin, religion, sexual orientation, gender identity, status as a veteran and basis of disability or any other federal, state, or local protected class. We comply with all applicable federal, state, and local laws.

Compensation Range:

120,000.00 USD and 160,000.00 USD salary for a new team member.

Additional Benefits Information:

Find out more by visiting: Advance Auto Parts-Home California Residents. Click below for Privacy Notice: https://jobs.advanceautoparts.com/us/en/disclosures