What are the responsibilities and job description for the Senior Manager, Real Estate position at Red Lobster?
Overview
The Senior Real Estate Manager plays an important role in optimizing the value of the existing restaurant real estate portfolio by managing the lease renewal program, resolving property issues, supporting department cost savings initiatives, reviewing various 3rd party requests and supporting the Real Estate team. The Real Estate Senior Manager interacts directly with outside parties including landlords, developers and neighboring property owners, real estate brokers, municipalities and vendors, as well as Facilities, Legal, Operations and other RSC departments. ROLE AND RESPONSIBILITIES:-Identify upcoming lease renewals, present to Real Estate Committee for approval and manage the overall lease renewal process by tracking renewal dates, negotiating lease modifications (additional term, rent reduction, etc) in advance of the renewal notice date
- Partner with legal to ensure renewal letters are sent on time-Work with established broker network to obtain comparables and market data for lease renewal analysis
-Negotiate lease modifications upon request such as adding additional options, rent reductions, etc
- Review and recommend deregulated utilities contracts in conjunction with our 3rd party utilities vendor
-Track and address high volume water/sewer usage
-Create and maintain various spreadsheets including lease renewals, lease extensions, property management and facilities issues requests-Research and address property and facility issues, including maintenance issues, condemnations, visibility issues, signage requests and parking concerns with landlords, developers, neighboring property owners, municipalities and other 3rd parties; partner with Facilities, Legal and Operations to resolve issues as needed
-Maintain and update property disposition information as needed including MVAs, listing agreements, property management agreements and due diligence information as requested
-Work with local vendors and brokers to ensure proper maintenance of disposition properties including landscaping and alarm monitoring as requested
-Review disposition LOIs/termination proposals and make recommendations
-Assist Design/Construction and Facilities team in obtaining landlord approvals when needed
-Assist Facilities team in processing permit applications and various other documents related to facilities projects-Provide department support as needed, including responding to general department inquiries and coordinating document execution
REQUIRED TECHNICAL SKILLS:-Minimum 7 years’ experience in commercial real estate development, property management or real estate law -Highly proficient in Microsoft Office, Outlook, Word, Excel and Power Point-Strong knowledge of commercial, corporate retail real estate functions including common real estate and legal terminology, forms and practices-Ability to interact and communicate professionally and effectively, influence others and build strong relationships at all levels-Ability to identify issues, think strategically, and act decisively to resolve issues -Excellent organizational and prioritization skills; ability to multi-task and work in a fast-paced environment
REQUIRED EDUCATION:-Bachelor's degree in real estate, legal studies, business, finance or related field. Equivalent training or experience may be considered.OTHER KEY QUALIFICATIONS:-Flexible; ability to adapt to changing business environments-Self-motivated; ability to work independently
-Knowledge of commercial, corporate real estate market
-Negotiating experience required