Director of Real Estate
Apply NowCompany: MANCINI'S SLEEPWORLD
Location: Livermore, CA 94550
Description:
SUMMARY:
The Director of Real Estate is responsible for leading the strategic growth and development of Mancini's Sleepworld's retail real estate portfolio. The role is responsible for developing and executing strategic initiatives to support company growth plans. This role requires extensive expertise in real estate site selection, development of strategic growth plans in existing and new markets, lease negotiations, construction project management, portfolio management, and strong leadership skills to ensure alignment with the organization's long-term goals. The Director will work across multiple departments, lead our facilities manager, and external partners to oversee real estate transactions, construction, project execution, and ensure the successful growth and redevelopment of the organization's real estate footprint.
KEY DUTIES AND RESPONSIBILITIES:
The following reflects management's definition of essential functions for this job but does not restrict the tasks that may be assigned. Management may assign or reassign duties and responsibilities to this job at any time due to reasonable accommodation or other reasons.
Strategic Real Estate Planning: Lead the development of long-term real estate strategies that align with the organization's business goals. Including identifying strategic retail locations, portfolio analysis based on market conditions and trends, develop relationships with brokers and landlords, utilizing market analysis, trends and research tools to maximize growth and business goals. Own the new store opening process.
Project Management: Oversee the day-to-day execution of real estate projects, including construction, and the management of existing store development needs. Ensure timely delivery of projects within budget, while ensuring all projects comply with local, state, and federal regulations, including zoning laws and environmental guidelines.
Stakeholder Collaboration: Collaborate with senior leadership, finance, legal, design, facilities maintenance, and marketing teams to ensure real estate strategies align with overall business objectives. Provide oversite and direction to facilities management to govern existing store maintenance needs, and coordinate with external stakeholders such as landlords, developers, contractors, architects, vendors, and consultants.
Property Acquisition and Development: Identity and secure real estate opportunities that support organizational growth.
Lease Management: Lead negotiations for LOI and lease agreements with an understanding of lease language including basic understanding of lease accounting trigger dates (e.g., lease signing date, possession date, commencement date), renewals, expansions, CAM audits, and lease terminations. Work closely with legal and leasing teams to ensure favorable lease terms and minimize operational risk. Manage existing location lease renewals, and establishment of new lease agreements for new locations. Manage relationships with property owners, landlords, and developers to foster positive partnerships.
Financial Oversight: Develop and manage real estate project budgets, forecasts, and financial models. Partner with finance to provide input into new store proformas and refresh ROI models. Monitor and track expenses to ensure projects are delivered within budget. Provide financial reporting to stakeholders, outlining key project metrics and financial performance. Work with Operations to determine sales and cannibalization forecasts on new stores and the existing real estate portfolio.
Preventative Maintenance: Establish preventative maintenance programs to enhance property longevity and performance by scheduling and managing routine inspection and maintenance on all building systems (i.e. HVAC) and equipment to identify areas in need of refurbishment, repairs, and renovations. Coordinate with facility managers, vendors, and contractors to ensure compliance with building standards, energy efficiency, and safety regulations.
Documentation and Reporting: Maintain accurate records of real estate transactions, contracts, permits, drawings, and project documentation. Provide regular progress reports to stakeholders, highlighting key milestones, challenges, and achievements.
Must be located in the Bay Area.
QUALIFICATIONS:
Bachelor's degree in real estate, business administration, or related field.
Minimum of 5-8 years of experience for a national/regional retailer with demonstrated success in directing ongoing growth plan building to build a pipeline to allow for up to 10 site openings per year.
Proven history in overseeing multiple real estate transactions from site selection through to opening.
Demonstrated strong knowledge of property management principles, leasing, and regulatory requirements, including real estate laws, regulations, zoning, and environmental policies.
Excellent lease negotiation and contract management skills.
Financial acumen with experience in budgeting, financial modeling, expense management, and reporting.
Strong problem-solving and analytical skills, with the ability to make sound decisions under pressure.
PHYSICAL/MENTAL REQUIREMENTS:
While performing the duties of this job, the employee is frequently required to:
Manage multiple large-scale projects simultaneously.
Analyze and interpret complex financial, legal, and market data.
Communicate effectively with diverse internal and external stakeholders.
Maintain diligence and accuracy in a fast-paced environment.
The Director of Real Estate is responsible for leading the strategic growth and development of Mancini's Sleepworld's retail real estate portfolio. The role is responsible for developing and executing strategic initiatives to support company growth plans. This role requires extensive expertise in real estate site selection, development of strategic growth plans in existing and new markets, lease negotiations, construction project management, portfolio management, and strong leadership skills to ensure alignment with the organization's long-term goals. The Director will work across multiple departments, lead our facilities manager, and external partners to oversee real estate transactions, construction, project execution, and ensure the successful growth and redevelopment of the organization's real estate footprint.
KEY DUTIES AND RESPONSIBILITIES:
The following reflects management's definition of essential functions for this job but does not restrict the tasks that may be assigned. Management may assign or reassign duties and responsibilities to this job at any time due to reasonable accommodation or other reasons.
Strategic Real Estate Planning: Lead the development of long-term real estate strategies that align with the organization's business goals. Including identifying strategic retail locations, portfolio analysis based on market conditions and trends, develop relationships with brokers and landlords, utilizing market analysis, trends and research tools to maximize growth and business goals. Own the new store opening process.
Project Management: Oversee the day-to-day execution of real estate projects, including construction, and the management of existing store development needs. Ensure timely delivery of projects within budget, while ensuring all projects comply with local, state, and federal regulations, including zoning laws and environmental guidelines.
Stakeholder Collaboration: Collaborate with senior leadership, finance, legal, design, facilities maintenance, and marketing teams to ensure real estate strategies align with overall business objectives. Provide oversite and direction to facilities management to govern existing store maintenance needs, and coordinate with external stakeholders such as landlords, developers, contractors, architects, vendors, and consultants.
Property Acquisition and Development: Identity and secure real estate opportunities that support organizational growth.
Lease Management: Lead negotiations for LOI and lease agreements with an understanding of lease language including basic understanding of lease accounting trigger dates (e.g., lease signing date, possession date, commencement date), renewals, expansions, CAM audits, and lease terminations. Work closely with legal and leasing teams to ensure favorable lease terms and minimize operational risk. Manage existing location lease renewals, and establishment of new lease agreements for new locations. Manage relationships with property owners, landlords, and developers to foster positive partnerships.
Financial Oversight: Develop and manage real estate project budgets, forecasts, and financial models. Partner with finance to provide input into new store proformas and refresh ROI models. Monitor and track expenses to ensure projects are delivered within budget. Provide financial reporting to stakeholders, outlining key project metrics and financial performance. Work with Operations to determine sales and cannibalization forecasts on new stores and the existing real estate portfolio.
Preventative Maintenance: Establish preventative maintenance programs to enhance property longevity and performance by scheduling and managing routine inspection and maintenance on all building systems (i.e. HVAC) and equipment to identify areas in need of refurbishment, repairs, and renovations. Coordinate with facility managers, vendors, and contractors to ensure compliance with building standards, energy efficiency, and safety regulations.
Documentation and Reporting: Maintain accurate records of real estate transactions, contracts, permits, drawings, and project documentation. Provide regular progress reports to stakeholders, highlighting key milestones, challenges, and achievements.
Must be located in the Bay Area.
QUALIFICATIONS:
Bachelor's degree in real estate, business administration, or related field.
Minimum of 5-8 years of experience for a national/regional retailer with demonstrated success in directing ongoing growth plan building to build a pipeline to allow for up to 10 site openings per year.
Proven history in overseeing multiple real estate transactions from site selection through to opening.
Demonstrated strong knowledge of property management principles, leasing, and regulatory requirements, including real estate laws, regulations, zoning, and environmental policies.
Excellent lease negotiation and contract management skills.
Financial acumen with experience in budgeting, financial modeling, expense management, and reporting.
Strong problem-solving and analytical skills, with the ability to make sound decisions under pressure.
PHYSICAL/MENTAL REQUIREMENTS:
While performing the duties of this job, the employee is frequently required to:
Manage multiple large-scale projects simultaneously.
Analyze and interpret complex financial, legal, and market data.
Communicate effectively with diverse internal and external stakeholders.
Maintain diligence and accuracy in a fast-paced environment.