Real Estate Manager

Real Estate Manager

Job description

The Real Estate Development Manager is responsible for executing Jack’s growth strategy within the assigned geographic area. This position is responsible for identifying, analyzing and validating potential new unit sites to meet growth targets by market. This position prepares and implements market and trade area studies to determine the feasibility of potential sites. This position presents potential sites and terms to a Real Estate Committee and finalizes contract terms for approved sites. The Real Estate Development Manager is responsible for managing the new unit development process from site selection through site approval, contract execution, construction drawing preparation and permitting and provides assistance to the Construction Manager throughout construction.

Essential Functions:

The essential functions in this job description are not all-inclusive of this job’s duties and responsibilities.

• Develop market penetration strategy in new markets, consistent with company’s expansion strategy. Strategy will be developed working closely with Director Development, Operations and Marketing.
• Conduct site tours for Operations and Senior Management review of potential sites.
• Manage an established network of real estate brokers to execute market specific penetration strategies and identify potential sites for new restaurant locations. Expand and develop the network as necessary in new markets.
• Standardize and continuously improve trade area and site selection criteria, sales forecasting and sales transfer models utilizing SiteZeus real estate analytics tool. Identify and continuously develop data resources for analyzing trade area sales generators.
• In Conjunction with the Director of Development and the Finance Department, create and continuously update methods for analyzing the sales performance of new restaurants. This analysis shall include the validation of the sales and sales transfer forecasts presented to the Real Estate Committee when site approval was acquired.
• Prepare and present new restaurant Site Approval Packages to the Real Estate Committee. The presentation shall include a sales forecast, a sales transfer forecast, an ROI analysis, maps, aerials and demographic data to support the site. The goal of the presentation is to gain the Real Estate Committee’s approval of the site and its related investment.
• Working with the broker network, negotiate basic business terms (LOI) of all potential sites.
• With outside legal representation, negotiate the lease or purchase agreement for the acquisition of approved sites.
• After the site acquisition contract is executed, set up and maintain a schedule for meeting critical deadlines within the inspection period of each deal. Ensure all parties associated with the development of a new restaurant are aware of the critical dates. Assist in any matters related to landlords, sellers, or governmental authorities.
• Manage all outside professionals such as brokers, attorneys, architects, civil engineers, geotechnical consultants, environmental consultants, and certain third-party vendors to complete “due diligence” efforts in determining site feasibility and acquisition of all required approvals to insure the timely development of new restaurants.
• Interface with governing agencies to access entitlement, permitting and zoning requirements. Represent the company in all required city meetings and public hearings.
• Provide to the Finance and Accounting Departments all information regarding the financial obligations associated with acquisition contracts.
• Ensure all information regarding our contract obligations is provided to all departments involved with the execution of those obligations. Place particular emphasis on assisting the Accounting Department in meeting all contract related monetary obligations.
• Assist Director of Development to advise senior management of pending lease expiration dates and renewal option exercise dates so that appropriate decisions may be made and executed in a timely fashion. Negotiate all lease renewals and lease restructuring required for replacement and remodel projects.
• Assist Director of Development with the management and updating of the new restaurant development pipeline schedule keeping all departments advised of new restaurant critical dates.
• Participate in weekly development department project status meetings and provide up to date reports regarding acquisition of sites and associated critical dates.
• Act as spokesperson for the Company in all communications with landlords and their representatives.

Job Requirements:

• Bachelor’s degree in Real Estate, Business or related field required
• Minimum five years of multi-unit real estate acquisition experience, preferably in the retail/hospitality environment with restaurant experience a plus.
• Demonstrated abilities in commercial real estate knowledge and experience.
• Commercial permitting and entitlement experience
• Excellent negotiating skills

Knowledge, Skills, and Abilities:

• Ability to demonstrate and teach Jack’s Mission, Values, and Culture
• Comprehensive knowledge of business and real estate
• Complete understanding of LOI, ground lease and purchase agreement documents
• Comprehensive knowledge of financial pro forma
• Knowledge of retail/hospitality industry and practices
• Strong communication (oral and written), presentation, facilitation, and training skills
• Strong computer/technology skills and proficient in Microsoft Office Suite
• Strong financial management and analytical sills
• Strong project management skills and ability to manage multiple projects
• Strong customer service and assessment skills
• Ability to provide leadership and forge strong relationships with all enterprise stakeholders
• Ability to develop/coach associates
• Ability to breakdown and solve complex problems independently
• Ability to confront difficult situations and resolve conflicts
• Ability to build consensus
• Ability to successfully manage people and organizations through influence rather than authority
• Ability to work positively and negotiate with others inside and outside the company
• Ability to think strategically
• Ability to embrace change and continuous learning
• Team player with outstanding interpersonal skills

Jack's in an Equal Opportunity Employer