Real Estate Manager, Albertsons, Lanham, MD
Albertsons -
Lanham, MD,
US
Real Estate Manager
Date Posted: 2024-06-14
Job description
Job Description
About the company
Albertsons Companies is at the forefront of the revolution in retail. With a fixation on raising the bar with innovation and building belonging through our culture, our team is rallying our company around a unique purpose: to create joy around each table and inspire a healthier tomorrow for every community.
Albertsons Companies is one of the largest food and drug retailers in the United States, with over 2,200 stores in 34 states and the District of Columbia. Our well-known banners include Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets, and Balducci's Food Lovers Market. We support our stores with 22 distribution centers and 19 manufacturing plants.
Placing a premium on adaptability, safety and family well-being, our work model, Presence with a Purpose, offers a hybrid work environment between remote work and office time. A one-size-fits-all approach does not apply to everyone, and teams are empowered to make decisions best for them.
Bring your flavor
Building the future of food and well-being starts with you. Join our team and bring your best self to the table. #LI-KM2
What you will be doing
The Real Estate Manager (REM) represents the Company in strategic real estate decisions and transactions within their assigned geography. The REM has responsibility for optimizing the entire real estate portfolio within their division/territory to boost overall store sales and profitability and identifies and assists in evaluating and executing upon opportunities for new leased and owned store locations, store expansions, remodels, and fuel centers to make growth recommendations to Division and Executive Management. In addition, the REM engages in surplus property marketing efforts, negotiations and deals for closed stores and asset dispositions.
The position will be based in Malvern, PA.
Main responsibilities
The salary range is $95,400 to $123,900 annually. Starting salary will vary based on criteria such as location, experience, and qualifications. There may be flexibility for exceptional candidates.
A copy of the full job description can be made available to you.
What we are searching for
Strategy and Planning
Portfolio Optimization
Store Growth
Leadership and Communication
We believe the successful candidate has these qualifications and experience:
PHYSICAL ENVIRONMENT:
What is it like at Albertsons?
Our 290,000 associates have a passion for great service and building lasting relationships with our customers. Through a companywide focus on innovation, we are continually enhancing our digital and product offerings, making it easy for customers to get what they need, wherever they are.
Albertsons is an Equal Opportunity Employer
This Company is an Equal Opportunity Employer, and does not discriminate on the basis of race, gender, ethnicity, religion, national origin, age, disability, veteran status, gender identity/expression, sexual orientation, or on any other basis prohibited by law. Consistent with applicable state and local law, the Company will consider for employment qualified applicants with arrest and conviction records.
We endeavor to make this site accessible to any and all users. If you would like to contact us regarding the accessibility of our website or need assistance completing the application process, please contact us at 1-888-###-####(option #4).
About the company
Albertsons Companies is at the forefront of the revolution in retail. With a fixation on raising the bar with innovation and building belonging through our culture, our team is rallying our company around a unique purpose: to create joy around each table and inspire a healthier tomorrow for every community.
Albertsons Companies is one of the largest food and drug retailers in the United States, with over 2,200 stores in 34 states and the District of Columbia. Our well-known banners include Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets, and Balducci's Food Lovers Market. We support our stores with 22 distribution centers and 19 manufacturing plants.
Placing a premium on adaptability, safety and family well-being, our work model, Presence with a Purpose, offers a hybrid work environment between remote work and office time. A one-size-fits-all approach does not apply to everyone, and teams are empowered to make decisions best for them.
Bring your flavor
Building the future of food and well-being starts with you. Join our team and bring your best self to the table. #LI-KM2
What you will be doing
The Real Estate Manager (REM) represents the Company in strategic real estate decisions and transactions within their assigned geography. The REM has responsibility for optimizing the entire real estate portfolio within their division/territory to boost overall store sales and profitability and identifies and assists in evaluating and executing upon opportunities for new leased and owned store locations, store expansions, remodels, and fuel centers to make growth recommendations to Division and Executive Management. In addition, the REM engages in surplus property marketing efforts, negotiations and deals for closed stores and asset dispositions.
The position will be based in Malvern, PA.
Main responsibilities
- Works with the Director and Retail Management finding and analyzing individual real estate opportunities and in the development of comprehensive strategic real estate plans for Division. Develops strong market knowledge of competitor and customer dynamics, our store performance, traffic, and residential growth.
- Initiates and completes real estate transactions of varying types and degrees of difficulty and coordinates due diligence, entitlements, legal documentation, project coordination and project tracking on applicable asset management tracking systems.
- Prepares high quality and accurate financial analysis and investment packages for Real Estate Committee utilizing in-house tools such as Excel, Arc/GIS, and PowerPoint. Develops a good understanding of retail P&L statements and financial metrics and application of comparable store analysis.
- Collaborates with team attorney to finalize deal documentation such as leases, purchase agreements and reciprocal access agreements
- Engages with real estate brokers and other 3rd party consultants to market surplus properties and negotiate deals.
- Works closely with the design and planning team and construction manager to obtain governmental approvals and shepherds projects through to store opening. Acts as a primary contact for inquiries regarding information on the project.
- Represents the company and communicates and negotiates with governmental entities in connection with the Company's real estate activities.
- Stays well versed on market dynamics in assigned territory including current and future changes to public infrastructure, residential growth, competition and demographics. Understands basic forecasting methodologies including gravity and analogue models.
- Understands and stays current on company policies relative to the negotiation of legal documents.
The salary range is $95,400 to $123,900 annually. Starting salary will vary based on criteria such as location, experience, and qualifications. There may be flexibility for exceptional candidates.
A copy of the full job description can be made available to you.
What we are searching for
Strategy and Planning
- Proactive self-starter with an owner/investor/developer attitude.
- Exercises strategic thought with ability to influence and develop real estate plans and strategy.
- Expertise in real estate concepts, documentation, and the experience to close deals with limited supervision.
- Possesses an established real estate network which enables the candidate to be resourceful and get to solutions quickly.
Portfolio Optimization
- Well-developed market analysis skills and financial skills able to understand retail P&Ls and apply financial modeling techniques and critical analytical frameworks to solve for effective real estate decisions and outcomes.
- Dealmaker with strong negotiation skills with the ability to negotiate multi-million dollar transactions to a successful conclusion.
- Analyzes and makes recommendations for underperforming real estate assets (e.g., closing, lease re-negotiation)
- Understands standard financial statements and can assess potential credit worthiness of companies.
Store Growth
- Knowledge of local and regional real estate activities.
- Knowledge of land use regulations and the political and governmental processes governing real estate development.
- Creates, manages, and executes the development plan to meet portfolio returns and goals.
- Working knowledge of Design including fixture plans, site plans, and project development plans.
- Proficiency in Arc/GIS and MS Office: Word, Excel, Outlook and PowerPoint.
Leadership and Communication
- Ability to partner with and influence retail and Executive Management.
- Team player able to build relationships with local retail management and lead internal and external teams in a fast-paced retail real estate environment.
- Integrity and professionalism to represent the Company's interests to outside investors, professionals and vendors as well as teammates.
- Excellent communication skills both written and verbal.
- Acts in a competent, professional, and timely manner.
- Acts with appropriate urgency and creativity on all matters.
We believe the successful candidate has these qualifications and experience:
- 3 -5 years of extensive and relevant experience in corporate real estate, shopping center development, and/or real estate with major multi-unit retailer; grocery background and MidAtlantic area knowledge preferred, but not required.
- Bachelor's degree required with emphasis in a related field such as Real Estate, Finance, Geography, Civil Engineering or General Business. MBA helpful.
- The position coordinates and collaborates with various disciplines within the Company including Store Operations, Finance, Design, Construction, Maintenance, Legal, Property Management and Corporate Development.
- Real estate brokers, developers, investors, attorneys, government officials, retailers, landlords and design and engineering professionals.
PHYSICAL ENVIRONMENT:
- Most work is performed in a temperature-controlled office environment, frequently touring stores and sites on foot and driving cars and vans.
- May sit for long periods of time at desk or computer terminal.
- May use computer, calculator, keyboard, telephone, and other office equipment in the course of normal workday.
- Stooping, bending, twisting, and reaching may be required in completion of job duties.
- 25% - 50% travel depending upon assigned territory.
What is it like at Albertsons?
Our 290,000 associates have a passion for great service and building lasting relationships with our customers. Through a companywide focus on innovation, we are continually enhancing our digital and product offerings, making it easy for customers to get what they need, wherever they are.
Albertsons is an Equal Opportunity Employer
This Company is an Equal Opportunity Employer, and does not discriminate on the basis of race, gender, ethnicity, religion, national origin, age, disability, veteran status, gender identity/expression, sexual orientation, or on any other basis prohibited by law. Consistent with applicable state and local law, the Company will consider for employment qualified applicants with arrest and conviction records.
We endeavor to make this site accessible to any and all users. If you would like to contact us regarding the accessibility of our website or need assistance completing the application process, please contact us at 1-888-###-####(option #4).