Responsible for executing on the Company’s financial strategy, including evaluating joint venture investments, sale/leaseback opportunities, shopping center acquisitions/dispositions and competitive acquisition opportunities. Provide leadership over the Company’s lease restructuring activities and serve as national account representative to the largest landlords. Provide guidance to Alternative Profits in establishing complex partnerships with third-parties. Demonstrate the Company's core values of respect, honesty, integrity, diversity, inclusion, and safety.
Essential Job Functions
Manage the department’s extensive portfolio of joint venture shopping center investments to minimize return on invested capital. Evaluate new joint venture opportunities with sound financial underwriting techniques and execute on creating new development partnership transactions. Submit same to Capital Committee for approval
Lead team responsible for underwriting shopping center acquisition/disposition opportunities that arise from time to time, and execute on transactions as appropriate with aggressive negotiating to maximize value for the Company.
Partner with Asset Management Leader to restructure leases in order to deliver value to the Company, whether through expense control, capital contributions or increased flexibility in om leases. Implement consistent restructuring standards across the enterprise and ensure that all leases are appropriately evaluated for restructuring opportunities.
Provide "national account" services for the Company with our largest landlords, consistently evaluating our needs and our landlords' needs at our portfolio of leased stores with each, fostering win-win solutions at our portfolio of stores and maintaining our positive relationship with each landlord.
Evaluate our portfolio of owned real estate for sale/leaseback opportunities which fit our financial strategy. Use consistent underwriting techniques to ensure sound financial decision making for the Company. Establish best practices to move with speed. Build alignment around a sale/leaseback strategy with decision-makers and execute on sale/leaseback transactions as approved.
Provide financial underwriting support for in-market acquisition opportunities and market optimization/rationalization opportunities that arise from time to time.
Provide financial underwriting to support the evaluation of complex alternative profit partnership opportunities with third parties and partner with Alternative Profits team to structure the partnership transactions, as they arise from time to time.
Train, lead, and direct the work of internal and external resources in numerous areas of expertise and has a significant span of control.
Supervise and coach direct reports in the performance of their duties; complete performance reviews and provide feedback to direct reports.
Must be able to perform the essential functions of this position with or without reasonable accommodation.
Behaviors / Skills:
Some of the Leadership Behaviors needed to successfully perform this position are:
Puts the Customer First - Anticipates customer needs, champions for the customer, acts with customers in mind, exceeds customers' expectations, gains customers' trust and respect.
Communicates effectively and candidly - Communicates clearly and directly, approachable, relates well to others, engages people and helps them understand change, provides and seeks feedback, articulates clearly, actively listens.
Achieves results through teamwork - Is open to diverse ideas, works inclusively and collaboratively, holds self and others accountable, involves others to accomplish individual and team goals.
Leads through positive influence - Demonstrates strong character; builds partnerships; models a conscious balance between work and personal life; takes personal responsibility for own development; role models leadership qualities such as motivation, inspiration, passion, and trust.
Coaches and develops others - Develops and cares about associates, builds effective teams, helps people be their best, values and manages diversity, provides candid and constructive feedback.
Leads change and innovation - Challenges the status quo, embraces technology, puts forward creative ideas, champions and implements process improvements, gathers the ideas of others, demonstrates good judgment about which ideas will work
Executes with excellence - Is action-oriented, drives for results, sets clear expectations and milestones, reviews progress, acts decisively, solves problems, can be counted on to consistently meet or exceed goals.
Provides clear and strategic direction - Plans and organizes well, sets a clear and simple course of action, stays focused on the most important priorities, has the ability to visualize and plan for the future, understands the industry and marketplace.
Safety Awareness -Identifying and correcting conditions that affect employee safety; upholding safety standards.
Minimum Position Qualifications:
Bachelor's degree in business or real estate
At least ten (10) years of experience in commercial/retail property management, real estate leases, accounting, contractual obligations and legal liabilities, and sales experience; or equivalent combination of education and experience.
Ability to preserve the confidentiality of information
Excellent accuracy and attention to detail
Ability to organize and prioritize a variety of tasks/projects
Ability to travel 25% of time
Proficiency with standard business software, including Microsoft Office Suite, web browsers and email clients.
Ability to read and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from managers, clients, customers, and the general public.
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference and volume. Ability to apply concepts of basic algebra and geometry.
Ability to define problems, collect data, establishes facts and draw valid conclusions.
Excellent oral and written communication
Strong interpersonal skill and developing others.
Desired Previous Job Experience:
10 years' experience in real estate with another retailer or a real estate development company including experience in property management
Poline Associates is an international executive search firm specializing in the shopping center industry.We serve property owners, developers, retailers and service providers who are seeking remarkable talent and work to align them with candidates who are eager for new growth opportunities. Since 1979, our team has been connecting companies and candidates with a commitment to integrity and client satisfaction—making us the industry’s most trusted leader in recruitment.