The Senior Vice President and Managing Director - Retail Division is responsible for achieving our client’s retail development goals and objectives. This person must be a highly competent, multi-faceted retail real estate professional. This person must be actively engaged in the retail real estate industry. They will have demonstrated experience in forecasting changes and trends in the retail industry. The incumbent will have effectively developed and managed strategic plans for successful and sustainable retail development projects.
Core competencies encompass retail market intelligence, research-driven site identification, and acquisition; establishing and managing joint venture partnerships; cultivating and maintaining excellent retail tenant relationships and structuring deals that are consistent with our client’s strategic business growth plans.
Core activities include: (1) conceptualization of site layout and building design, (2) pre-development and land development entitlement process, (3) development of merchandising and leasing plans, (4) proforma development and management, (5) marketing and leasing (including LOI, lease negotiations, and tenant co-ordination)
The incumbent will have demonstrated strong expertise in the following: (1) negotiating purchase and sale agreements, (2) financing, including governmental funding and market debt, (3) liquor license acquisition, (4) negotiating joint venture, professional service, REA & cross-easement, and condominium agreements, and (5) asset management, lease administration, and operational management of the retail projects.
This position will focus on the development/acquisition of high-quality, well designed, commercially successful grocery-anchored neighborhood/specialty shopping centers in and around our client’s headquarters, as well as in other markets where their grocery relationships lead them. Many of these developments will be the catalyst for mixed-use developments that will be synergistic to other of our client’s asset classes such as multi-family, hospitality, and office.
The Senior Vice President and Managing Director - Retail Division will promote a positive image for our client in both the communities it does business and the retail real estate industry and conduct activities in a manner that is consistent with the objectives, policies, and philosophy of our client and its culture and brand.
EXPERIENCE, TRAINING, AND/OR EDUCATION REQUIRED:
This position requires broad knowledge, understanding, and experience in retailing and retail real estate development, retail real estate research (particularly in the grocery space), research-driven market and site selection, merchandising and leasing analysis, legal documentation, financial analysis, project management, the investment real estate marketplace, and the capital stack of equity and debt formation.
Specific areas of required knowledge and understanding include asset valuation and pricing strategies, retail brokerage, construction management, leases, and other real estate agreements, contracts, due diligence, financial statement analysis, marketing, mortgage banking, negotiating skills, partnerships, preparation of proformas, governmental funding, offering memoranda, property and asset management, survey and title review and closing transactions.
Required training and education includes a B.A. or B. S. degree. Required experience is at least ten (10) years in the real estate aspects of retailing or retail real estate development.
Experience in both the retailer and developer sides of retail real estate development is highly desirable.
LICENSE, CERTIFICATES OR REGISTRATIONS DESIRABLE/REQUIRED:
An advanced degree(s) or coursework in real estate, finance, general management or law is highly desirable, but not required.
ICSC (International Council of Shopping Centers) designations: CRRP (Certified Retail Real Estate Professional), CRX (Certified Retail Executive), CDP (Certified Development, Design & Construction Professional), CLS (Certified Leasing Specialist) are desirable, but not required.
DIMENSIONS (SALES VOLUME, TOTAL EMPLOYEES REPORTING, PAYROLL, ETC.):
No direct reports; however, this position will heavily interface with many disciplines and co-workers on our client’s team including architecture, construction, finance, accounting, tax, legal and marketing/communications, as well as third-party consultants in grocery industry research, retail real estate brokers and attorneys.
Development or acquisition/redevelopment of two or more investment-grade grocery-anchored projects (neighborhood, specialty or mixed-use) over the next three-five years.
REPORTING RELATIONSHIPS (UPWARD AND DOWNWARD):
This position reports to the President and Chief Operating Officer.
This position will interface on a regular basis with Ownership, Executive Management, and the companies Investment Committee and Board of Directors.
ESSENTIAL JOB FUNCTIONS:
Fundamental job requirements, which an individual must be able to perform in order to accomplish the basic duties of the job.
Responsible for achieving the established goals, within the established budgets and proformas through efficient planning, direction and coordination, of team and resources.
Develop extensive network of relationships with brokers, competitive peer companies, owners of potential retail development sites in our client’s primary target markets, and sources of new business.
Responsible for establishing direct relationships with national and regional retailers. Primary responsibility for securing anchor tenants for retail developments.
Develop and cultivate retail equity partner contacts for potential joint venture projects. Operate as primary contact between our client and their respective partners.
Develop and maintain retail market information, including supply, demand, and market demographics/psychographics and consumer behavior trends in the target markets. Prioritize market analysis in order to achieve development targets.
Identify development opportunities that meet the criteria for successful retail development projects. Oversee the due diligence and acquisition of suitable sites.
Present to the Investment Committee and Board of Directors acquisitions, dispositions and development opportunities for approval and capital funding, and regularly report on the performance of those projects relative to pro forma.
Coordinate with other members of our client’s development team on land acquisition and the development approval process, produce design consistent with market demands/budget guidelines, and prepare project schedules that will achieve development targets and generate acceptable financial returns for our client, and if a joint venture, our client’s partners. Lead or support the CST (Client Service Team) framework.
Engage consultants or outside organizations as necessary and prudent, to aid in accomplishing development targets.
Promote a favorable image of our client with customers and endeavor in all activities and associations to further the interest of our client.
MARGINAL JOB FUNCTIONS:
Duties performed by the job which are not critical to the successful completion of the essential job functions:
Will serve on and may chair various company committees as appointed.
Promote the interests and favorable image of our client. Support and sustain the values of our client’s core philosophy.
Other projects and duties as assigned by the President and Chief Operating Officer of our client.
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.