Sr Real Estate Manager

Grocery Outlet; Los Angeles (CA); On-site; USD 115,000 - 135,000; Full time

Benefits offered by this job

Annual Bonus Program

Equity

401(k) Profit Sharing

Medical, Dental, Vision & More

Job summary

Grocery Outlet is seeking a Senior Real Estate Manager to lead market analysis, site selection, and development for new stores and relocations across multiple states. You will collaborate with internal teams and external partners to drive on-time, on-budget store openings and renewals, while negotiating favorable lease terms and overseeing financial projections.

Ideal candidates have 3+ years of Retail Real Estate experience, a relevant degree, and proven negotiation success.

Qualifications

• 3+ years Retail Real Estate experience.
• Bachelor’s degree in Real Estate, Finance, Business or related field preferred.
• Proven track record negotiating complex leases from inception to final execution.

Responsibilities

• Support and management of market analysis, site selection, transaction, project approvals and development processes.
• Identify, inspect, track and evaluate potential sites and competitors within trade areas.
• Coordinate evaluation of data related to trade areas and sites (population, incomes, education, visibility, competition).
• Negotiate lease renewals, store expansions and subleases; develop negotiated deal terms and financial forecasts.
• Oversee information for new store site presentations to the Real Estate Committee.

Skills

Negotiation

Analytical skills

Communication

Leadership

Cross-functional collaboration

Market analysis

Education

Bachelor’s degree in Real Estate, Finance, Business

Job description

• Our Mission: Touching lives for the better
• Our Vision: Touching lives by being the first choice for bargain-minded consumers in the U.S.

About Grocery Outlet

• Our Mission: Touching lives for the better
• Our Vision: Touching lives by being the first choice for bargain-minded consumers in the U.S.
• Our Values & Behaviors: Achievement, Diversity, Entrepreneurship, Family, Fun, Integrity & Service

About the Team:

Our Store Development team’s mission is to open high-quality stores, on time and on budget. Opening stores across 8 states, the talent and dedication within our close-knit group combined with consistent collaboration allows us to maintain a fast-paced schedule and accomplish our goals while having fun. Successful members of our team are observant and passionate about what they do.

About the Role:

The Senior Real Estate Manager will support and execute, under the guidance of a Senior Director of Real Estate, the analysis, selection, negotiation, and development processes associated with Grocery Outlet’s new store, relocation and expansion program. The Senior Real Estate Manager will report to the Senior Director of Real Estate.

Responsibilities Include

• Support and management of market analysis, site selection, transaction, project approvals and development processes utilizing personal effort and leveraging consultants, brokers, third party partners and other market resources as necessary
• Identify, inspect, track and evaluate potential sites, existing stores and competitors within various trade areas
• Coordinate evaluation of pertinent data related to trade areas and sites, i.e. population density, incomes, education levels, site visibility, competition, co-tenancy, and growth trends
• Evaluate store site locations for availability, property value, access, zoning, development obstacles, timing, etc.
• Negotiate business points for sites approved by the company as lease renewals, store expansions, modifications, and surplus store space available for sublease
• Develop and evaluate negotiated deal terms, store revenue projections and store development investment and operating costs in partnership with internal finance professionals for the completion of financial forecasts related to specific transactions
• Oversee collection, assembly and accuracy of information required for new store site presentations to the Grocery Outlet Real Estate Committee
• Coordinate with company internal and outsourced counsel legal documents required to lease, renew, or sublease properties
• Facilitate communication between transaction management, landlords, construction, legal and architecture internal and/or external partners to complete projects on time and on budget
• Coordinate communication between Real Estate Department staff, outside brokers, Regional Operations Managers and the Real Estate Committee participants to analyze and define existing and targeted trade areas
• Present to the Grocery Outlet Real Estate Committee recommended new sites, relocations, lease extensions, leases renewals, store remodels, landlord dispute resolution and other matters
• Maintain excellent working relationships with real estate brokers, owners, landlords, attorneys, architects, and real estate representatives of other retail tenants
• Represent Grocery Outlet to government officials, municipal authorities, neighborhood groups, and other interested parties relative to the establishment and operation of Grocery Outlet retail stores
• Participate in the development and implementing of the Strategic Plans, Goals and Objectives of Grocery Outlet Inc.
• Perform other duties as assigned

About The Pay

• Base Salary Range: $115,000 - $135,000 Annually
• Annual Bonus Program
• Equity
• 401(k) Profit Sharing
• Medical, Dental, Vision & More
• Final compensation will be determined based upon experience and skills and may vary based on location

About You

• 3+ years Retail Real Estate experience
• College degree in Real Estate, Finance, Business, or related field preferred
• Proven track record of negotiating complex Leases from inception to final execution
• Proven experience working with or for multi-unit retailer expansion or a multi-retail asset Landlord
• Excellent organizational, analytical, written, and oral communication skills required
• Ability to lead a collaborative process across the Grocery Outlet organization with internal and external stakeholders
• An understanding of the workings of the commercial real estate community
• A basic understanding of construction and property management
• Ability to read and interpret documents such as safety rules, operating and maintenance instructions and procedure manuals as well as municipal codes and regulation
• Ability to write routine reports and correspondence
• Ability to calculate figures and amounts such as discounts, interest, and volume
• Ability to apply concepts of basic algebra and geometry
• Ability to apply common sense understanding to carry out instructions furnished in written, oral or diagram form
• Ability to deal with problems involving several variables in situations
• Ability to deal tactfully and effective with brokers, landlords, attorneys, architects, local government officials, sub-lessors, vendors, independent operators, and all Grocery Outlet employees

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