Director, Asset Management & Real Estate

The Director of Asset Management & Real Estate will oversee the company’s restaurant real estate portfolio, focusing on maximizing asset value, managing lease renewals, negotiations and driving strategic growth. This role is responsible for evaluating existing locations, negotiating landlord contributions for renovation projects, and partnering with cross-functional teams to ensure alignment of financial, operational, and legal objectives.

ESSENTIAL REQUIREMENTS & KEY RESPONSIBILITIES

Asset Management

·       Lead all aspects of asset management, including annual asset planning, lease renewals, extensions, relocations, and restaurant closures.

·       Create and maintain lease abstracts for all active and future locations.

·       Abstract and review Declarations, Covenants, Conditions & Restrictions (CC&Rs), Easements, and Reciprocal Easement Agreements (REAs).

·       Review and document Title Commitment Schedule BII Exceptions.

·       Prepare comprehensive lease renewal packages at least 12 months prior to lease expiration, including Broker’s Opinion of Value (BOV), Financial Assessments, Operational Assessments, and Building Assessments.

·       Analyze renewal data and develop recommendations to:

·       Exercise options

·       Negotiate additional tenure or split terms

·       Close at the end of term or pursue early termination

·       Negotiate renewal terms and finalize agreements with landlords.

·       Maintaining the database and tracking milestones through Smartsheet’s.

·       Present renewal packages and recommendations to the Executive Leadership Team for approval and ensure timely legal processing and execution.

Due Diligence & Real Estate Operations

·       Oversee due diligence for existing and prospective restaurant locations in collaboration with Design, Construction, and Operations teams.

·       Order, track, and manage due diligence reports, including:

·       ALTA Surveys

·       Title Commitments and Policies

·       Phase I & II Environmental Reports

·       Asbestos and Geotechnical Reports

·       Site Investigation Reports and BOVs

·       Lead the preparation and presentation of restaurant investment proposals.

·       Evaluate existing restaurant portfolio performance to recommend renovations, relocations, or closures.

·       Develop and maintain postmortem processes for real estate projects to improve accuracy, accountability, and cost control (budget vs. actual reporting).

·       Partners with Legal to ensure Liquor and Business licenses are obtained for each new location.

Strategic Leadership & Collaboration

·       Partner with Legal and Finance to identify and implement a real estate management software solution for leases, amendments, and estoppels.

·       Continuously explore and implement technologies to improve site selection and enhance real estate operations.

·       Initiate new restaurant development, including market planning, broker engagement, site selection, lease negotiation, and due diligence coordination.

·       Build and maintain strong relationships with landlords, brokers, and third-party partners.

·       Serve as a trusted advisor and subject matter expert on all real estate matters.

·       Travel to new markets and restaurant locations as needed.

REQUIRED SKILLS AND EDUCATION

·       Minimum 5 years of progressive experience in commercial real estate, with an emphasis on restaurant asset management and leasing.

·       Proven track record in lease negotiations, site selection, and portfolio performance optimization.

·       Strong financial acumen and ability to analyze complex asset portfolios.

·       Proficient in real estate, financial, and legal terminology.

·       Experience using market research tools and software for site selection and performance analytics.

·       Excellent communication, negotiation, and stakeholder management skills.

·       Strategic and analytical mindset

·       Strong negotiation and relationship management

·       Cross-functional collaboration and leadership

·       Financial and operational acumen

·       Results-oriented with a focus on value creation and growth

PHYSICAL DEMANDS

The Director, Asset Management and Real Estate is expected to be able to perform the job functions with or without reasonable accommodation. Physical demands include: 

·       Remaining in a stationary position for extended periods

·       Bending, squatting, and lifting (up to 25 lbs.)

·       Occasional movement inside the office to access file cabinets, office machinery, etc.

·       Constantly operates both kitchen and office (ex. computer) equipment