Position Summary: Working in collaboration with other team members, the Director of Development will coordinate and oversee the company’s new and existing site growth plans by actively managing real estate site selection, entitlement, design, and construction activities of the portfolio companies of Private Equity and Capital Partners divisions.
The Director of Development is focused on delivering high-quality work, on time and on budget; will administer & coordinate strategic growth initiatives for new units, real estate acquisition and/or leases, lease administration, new store design, renovation, management of permitting & zoning issues and construction. This includes managing reporting, budgets, and schedules to provide clear, concise, and timely information and data to inform sound strategic and economic decisions for the Executive Committee of the company. The position will report to the Co-Founders/Partners.
Essential Duties and Responsibilities include the following (other duties may be assigned):
Collaborate closely with the executive team to determine optimal new store locations and markets nationwide.
Develop deep market knowledge for each market Company has assets and seek out new markets where it may have an opportunity to expand.
Coordinate and manage national tenant representation broker network to identify key sites in markets it has chosen to develop.
Monitor competition for each portfolio company and develop strategies to best compete within a given market.
Develop deep local real estate owner relationships to maximize available new stores and development opportunities.
Lead and coordinate key real estate development teams: real estate site selection, development, and construction.
Oversee preparation of standard Real Estate Committee packages and analysis of sites recommended for approval by Executive Committee.
Supervise and coordinate all aspects of Company’s land acquisitions and leases including land and building PSA negotiations and ground lease negotiations utilizing outsourced lawyers and paralegal professionals.
Plan, supervise and coordinate the due diligence investigation process for all new locations with Development Team.
Review, provide input and coordinate development budgets for each project.
Assist in building team to monitor critical dates on leased assets and manage real estate cost from initial term through all option periods.
Work closely with Development Team to coordinate the programmatic, schematic design, design development & construction document phases of the design process for new store locations.
Lead, manage & coordinate team of company’s external design partners including architects, engineers, and others.
Lead the process to identify, specify, procure the Equipment, Fixtures & Signage for each project.
Plan, supervise and manage the team to support all aspects of the company’s construction activities including plan review, contractor selection, bidding, construction management & payment.
Identify, select, and manage high quality General Contractor and Sub-contractor partners for each project.
Develop and manage capital expenditure budgets for all projects (seek & identify value engineering opportunities).
Responsible for the coordination & installation of all equipment, fixtures, and signage.
Daily responsibilities include, but are not limited to:
Maintain broad overview knowledge of major markets (trends, drivers, rents, values, etc.) to support sound assessment of site selection, unit operations and expansion plans.
Prepare weekly tracking reports of pipelines, sites in development, sites under construction, and opening dates.
Work closely with internal financial analysts and asset managers to prepare internal and external reports as needed, including, but not limited to, EMD requirements, development budget, contract critical dates timelines, etc.
Organize and manage due diligence rooms during development and continued operations of each asset.
Assess performance of the assets relative to original underwriting strategies, business plans and market conditions.
Work closely with unit level operations team on on-going real estate needs for each asset both owned and leased.
Qualifications & Experience
The ideal candidate for this position will thrive in a highly entrepreneurial, social, fast-moving environment. This self-starter candidate should be an enthusiastic team player, offer innovative ideas and have the ability to manage multiple priorities. Strong experience in the retail asset class is essential, including experience and skill with the site development process. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Bachelor or Master’s Degree in finance, real estate, or a related field.
7+ years’ experience in a multi-unit, retail, or commercial expansion program.
Demonstrated leadership ability, team management and people skills.
Excellent organizational and reasoning skills.
Understanding of core business disciplines including real estate development and retail unit operations, investment principles, team building, and relationship building.
Strong problem-solving, analytical, and quantitative skills including advanced proficiency in industry standard software.
Ability to interpret complex legal documents such as retail ground leases and purchase and sale agreements.
Proven ability for writing and presentation skills, with the ability to analyze and present data clearly and concisely.
Must be able to form and sustain strong relationships and work well in a collaborative team.
Problem-solving mindset with the ability to drive results.
Detail oriented, capable of managing multiple work streams simultaneously, while being extremely professional and service oriented.
Ability to travel as required for effective oversight of assets.
Professional presence to interact with executive management.
Ability to balance multiple projects simultaneously with demanding deadlines in a small team environment.
Ability to operate with a high degree of flexibility and to adapt to changing demands.
Self-starter and can work well with limited direction.
Initiative, resourcefulness, strong attention to detail, reliable.
Poline Search Partners 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.