Director of Development (Raleigh-Durham-Chapel Hill Area)

Macdonald & Company has been retained by an established, privately held real estate investment and development firm to appoint a Director of Development to its growing development team.

The firm has a long-standing track record across retail, mixed-use and master-planned development and is actively expanding its presence throughout the Southeast and Mid-Atlantic.

This individual will play an integral role in identifying, sourcing and executing new development opportunities, with particular emphasis on retail and mixed-use projects anchored by national and regional tenants. The position offers exposure across the full development lifecycle, from initial deal sourcing and underwriting through acquisition, entitlements, design, financing, construction, leasing and eventual delivery or disposition.

A major component of the position will be proactively generating new opportunities and developing relationships with brokers, retailers, landowners and sellers throughout the region.

Key Responsibilities

• Identify and proactively source new retail, mixed-use and land development opportunities throughout target Southeast and Mid-Atlantic markets.
• Generate both on- and off-market opportunities through direct relationships with land and retail brokers, retailers, property owners and sellers.
• Build and maintain relationships with national and regional retailers and anchor tenants to create tenant-led, anchor-driven and build-to-suit development opportunities.
• Maintain an active pipeline of prospective deals and evaluate opportunities against the firm's investment criteria.
• Perform initial financial analysis and underwriting of prospective acquisitions and developments.
• Prepare and present investment opportunities to senior leadership.
• Negotiate LOIs and assist with purchase and sale agreements relating to land and site acquisitions.
• Coordinate due diligence alongside internal teams, legal counsel and third-party consultants.
• Support and manage zoning and entitlement processes, including interaction with municipalities and preparation of responses and presentations.
• Lead day-to-day coordination of projects through entitlement and early design.
• Partner with leasing teams to secure anchor and tenant commitments that support and de-risk prospective developments.
• Participate in the negotiation of retail leases, including anchor and junior-anchor transactions.
• Build and maintain project financial models and development budgets using Excel and/or Argus Enterprise.
• Evaluate market fundamentals, comparable transactions, demographics, traffic patterns, competitive supply and other factors relevant to site selection and underwriting.
• Participate across design, construction, leasing and property-management activities as projects progress toward completion.
• Prepare investment materials and project updates for partners, investors and senior leadership.
• Coordinate with lenders, partners, legal counsel and other stakeholders through project financing and closing.
• Help manage projects through lease-up, rent commencement, budget reconciliation and final close-out.

Experience & Qualifications

• 5+ years of relevant commercial real estate development, acquisitions or investment experience, with direct retail development experience strongly preferred.
• Demonstrated experience identifying and executing retail anchor-driven development opportunities.
• Existing relationships with land brokers, retail brokers, retailers, landowners and/or sellers across the Southeast and Mid-Atlantic are highly desirable.
• Experience with grocery-anchored retail, open-air shopping centers, town centers and/or mixed-use development.
• Understanding of anchor and shop-tenant requirements and the role tenant commitments play in driving development opportunities.
• Working knowledge of retail lease economics and structures, including anchor and junior-anchor leases, percentage rent, co-tenancy, exclusives, CAM and tenant improvement allowances.
• Strong financial modeling and underwriting capabilities using Excel and Argus Enterprise.
• Experience evaluating sites and trade areas using demographics, traffic counts, competitive supply and retail demand.
• Familiarity with zoning and entitlement processes.
• Strong analytical and problem-solving ability with excellent attention to detail.
• Highly motivated, entrepreneurial and comfortable proactively creating opportunities rather than relying solely on marketed deal flow.
• Strong communication and relationship-building skills.
• Ability to manage multiple active opportunities and projects simultaneously.
• Bachelor's degree required; advanced degree in business, real estate or a related discipline is advantageous.
• Willingness to travel throughout the region as required.