Summary:

In this role you will be responsible for an assigned territory. You will be ensuring minimization of lease expenses and protection of profitability of existing store base. The position will direct activity of outsourced lease negotiators, brokers, developers, and others for a varied set of real estate transactions. Candidate will also be expected to track all assets, transactions, associated savings and/or revenue stores to ensure timely/effective completion of all transaction types. Develop and maintain cooperative working relationships with Landlords, Attorneys, Brokers and associations to facilitate completion of real estate transaction.

Duties and Responsibilities:

Manage Store Portfolio for Lease Renewals and Extensions following corporate strategy. This includes the following:

• Manage all Right of Way / Domain Takings / Easement Requests
• Manage portfolio of lease renewals
• Monitoring assets in portfolio and reporting.
• Direct actions of outsourced reps, including training/coaching, review of negotiation strategy, estimated market values and anticipated results.
• Gain approval for approach/targets.
• Research appraised value, tax information, etc. to determine fair market value.
• Determine a stores importance to Network Plan and get guidance from Operations.
• Able to negotiate leases, amendments as needed.
• Able to write/review short documents, or work w/ counsel on large agreements on complex issues.
• Follow company policy and procedures in securing renewal approvals.
• Participate in the cross-functional review of underperforming stores and contribute to store closure decisions.
• Negotiate lease cancellations and buy-outs.
• Market property for sale and continually monitor the marketability of the property.
• Collaborate cross-functionally in Network Planning, Operations, Planning, & other departments.
• Alert the team to threats and opportunities to the store base: expiring leases, potential closures.
• Analyze rents in all stores for savings opportunities or extensions.
• Contribute to store growth through awareness of Relocation/Rebuild opportunities.
• Prepare stores for negotiation by working with outside Property Managers to resolve outstanding issues, tactical repairs or gaining approval for capital improvements.
• Be responsive to Management. This includes: Track and monitor activities, regularly reporting on results and progress of duties.
• Manage Additional & Alternative Real Estate Program Sets for Revenue Generation following corporate strategy. Position will be expected to:
  • Generate revenue through alternative real estate transactions
  • Actively manage existing real estate portfolio with network of external brokers and partners
  • Identify and create new sources of revenue streams leveraging both owned and leased properties.
  • Create short and long range plans for revenue growth
  • Track and report to management periodic progress towards goals
  • Create any and all guidelines, training documents, process documents for existing and new programs.
  • Hold external partners (brokers, developers, business partners) accountable. This will include hiring and firing as needed.
  • Must be able to create, review, and implement contracts that would provide revenue, services, or any such other contract that will benefit the business.
  • Collaborate with internal partners to gain alignment for new or existing program.
  • Collaborate with external entities (municipalities) to advance success at the transaction level

Education/Skills

• Education: Bachelors/4 Yr. Degree required or equivalent experience
• Experience: Minimum 10 Retail/Commercial Real Estate
• Expert knowledge of real estate contracts
• Strong project management skills, including data query for tracking/reporting
• Strong financial skills, able to articulate financial arguments and evaluate program / deal viability
• Strong knowledge of market values across real estate spectrum
• Expert level communicator / Presenter

If an hourly or salary range is included in this ad it represents the range 7-Eleven in good faith believes is the range of compensation for this role at the time of this posting. The Company may ultimately pay more or less than the posted range. This range is only applicable for jobs to be performed in this state. This range may be modified in the future. No amount is considered to be wages or compensation until such amount is earned, vested, and determinable under the terms and conditions of the applicable policies and plans. The amount and availability of any bonus, commission, long-term incentive compensation, benefits, or any other form of compensation and benefits that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company's sole discretion, consistent with the law.

For a general description of all benefits 7-Eleven is offering in the US for the position, please visit this link.