VP, Real Estate Development

Advance-Auto-Parts; Raleigh (NC); On-site; USD 220,000 - 320,000; Full time

Benefits offered by this job

Health & wellness benefits

Job summary

Advance Auto Parts, headquartered in Raleigh, NC, seeks a VP of Real Estate Development to lead end-to-end growth, site selection, and construction for new stores. This executive will drive capital-efficient expansion with strong cross-functional collaboration and a focus on brand standards and operational excellence.

The role requires deep expertise in retail development, large-scale programs, and leadership of directors across Real Estate Development, Construction, and Lease Administration.

Qualifications

• 15+ years of progressive leadership experience in retail real estate development, construction, or related fields.
• 7+ years of executive leadership experience managing leaders-of-leaders.
• Proven expertise in site selection, deal negotiation, construction management, and capital planning.
• Experience managing complex budgets and capital investment portfolios.
• Strong financial acumen including investment analysis, ROI evaluation, and capital allocation.

Responsibilities

• Lead the company's multi-year new store growth strategy and market expansion.
• Oversee site acquisition, lease negotiations, and purchase transactions with rigorous financial underwriting.
• Direct construction planning and delivery, ensuring safety, schedule, and budget adherence.
• Manage annual operating and capital budgets and establish governance for development activities.
• Foster partnerships across Real Estate, Operations, Finance, Supply Chain, Legal, and HR; build leadership pipelines.

Skills

Strategic leadership

Market analysis

Site selection

Negotiation

Finance acumen

Stakeholder management

Team development

Education

Bachelor's degree in Real Estate/Business/Engineering

MBA or related field (preferred)

Job description

Job DescriptionThe Vice President, Real Estate Development is responsible for leading the company's end-to-end new store development strategy and execution. This executive leader oversees all aspects of market expansion, site selection and acquisition, construction, lease administration, and disposition to ensure the successful delivery of the company's growth objectives.Reporting to the SVP, Corporate Finance and Real Estate, the VP leads a team of Director-level leaders responsible for Real Estate Development, Construction, and Lease Administration & Disposition. The role serves as a key strategic partner to Operations, Finance, Merchandising, Supply Chain, Legal, and Executive Leadership to identify growth opportunities, optimize capital investments, and deliver new stores on time, on budget, and aligned with the company's brand and operational standards.This role requires a highly strategic and results-oriented executive with deep expertise in real estate development, construction management, capital planning, and large-scale team leadership.Location & Work Availability:This position is Hybrid (4 days in office, 1 day remote), based at our corporate headquarters in Raleigh, North Carolina.Key Responsibilities:Enterprise Growth & Development StrategyDevelop and execute the company's multi-year new store growth strategy.Lead market analysis and site selection efforts to identify opportunities for expansion and maximize return on invested capital.Establish long-range development plans aligned with enterprise growth objectives.Partner with executive leadership on market prioritization, investment decisions, and strategic growth initiatives.Develop and maintain a robust pipeline of development opportunities across all markets.Real Estate DevelopmentOversee all site acquisition activities, including market identification, land acquisition, lease negotiations, and purchase transactions.Ensure rigorous financial analysis and investment underwriting for all development opportunities.Lead relationships with brokers, developers, landlords, municipalities, and external development partners.Oversee entitlement, zoning, permitting, and governmental approval processes.Balance growth objectives with financial discipline and risk management considerations.Construction & Project DeliveryProvide executive oversight for construction planning and execution across the portfolio.Ensure projects are delivered safely, on schedule, within budget, and according to company standards.Monitor capital expenditures and construction budgets while driving cost efficiency and accountability.Lead contractor, consultant, architect, and vendor relationships.Champion continuous improvement in project management, construction delivery, and operational processes.Financial & Capital ManagementDevelop and manage annual operating and capital budgets.Monitor portfolio performance and investment returns.Establish metrics, reporting, and governance processes for development and construction activities.Drive disciplined capital allocation and investment decision making.Deliver accurate forecasts and executive-level reporting.Leadership & Organizational DevelopmentLead, coach, and develop Director-level leaders and their organizations.Build a high-performing culture focused on accountability, collaboration, innovation, and execution excellence.Establish scalable organizational structures and operating processes to support growth.Develop succession plans and leadership pipelines across all functional areas.Foster strong partnerships across Real Estate, Operations, Finance, Supply Chain, Legal, and HR.Certifications, Experience, and Education:Bachelor's degree in Real Estate, Business, Engineering, Construction Management, Architecture, Finance, or related field or experience equivalent. Master's degree (MBA or related field), preferred.15+ years of progressive leadership experience in retail real estate development, construction, or related fields.7+ years of executive leadership experience managing leaders-of-leaders.Proven success leading large-scale, multi-site development programs.Demonstrated expertise in site selection, deal negotiation, construction management, and capital planning.Experience managing complex budgets and capital investment portfolios.Strong financial acumen, including investment analysis, ROI evaluation, and capital allocation.Exceptional leadership, communication, negotiation, and stakeholder management skills.Willingness to travel as needed to support development and construction activities.Preferred Qualifications:Experience leading development programs in a multi-unit retail organization.Experience managing national real estate and construction portfolios.Knowledge of retail store planning, design standards, and opening processes.Experience supporting aggressive growth and transformation initiatives.Benefits Summary:We believe in supporting our Team Members and those they love through comprehensive health & wellness benefits. Learn more here: https://jobs.advanceautoparts.com/us/en/benefitsCompany Overview:Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of January 3, 2026, Advance operated 4,305 stores primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The Company also served 809 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.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 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.California Residents click below for Privacy Notice:https://jobs.advanceautoparts.com/us/en/disclosures