Director of Real Estate

Position: Director of Real Estate


Reports to: VP of Development


Department: Real Estate/Development


Purpose: Contributes to Excel Fitness' success by negotiating new club openings and relocations in Excel's enterprise markets. Responsible for all existing club asset management through negotiating renewals, amendments and enforcing lease terms in all escalated facilities matters.


Duties and Responsibilities:

• Management role responsible for comprehensive new store development and strategic existing club plans to align with goals of Excel and Planet Fitness.
• Manages real estate relationships with multiple brokerage organizations while coordinating team of architects, general contractors, facilities maintenance, attorneys, operators to execute organizational real estate goals.

• Leads team effort required to prepare for real estate committee presentations for new clubs, relocations and expansions for the assigned region.

• Prepares real estate presentations for negotiated new clubs, renewals, expansions, renovations and remodels. Which includes developing proformas exceeding company EBITDA/IRR targets, market due diligence, favorable lease terms, and optimal site plan configurations.

• Negotiates, reviews and approves Letters of Intent associated with new club locations, existing commercial leases, and amendments.

• Manages the execution of lease documents for all new clubs, lease extensions and amendments required for existing club asset base. Approves lease changes prior to execution.

• Responsible for touring executive team on all proposed new club locations throughout region.

• Oversees brokerage teams site ride presentation formats to ensure regional consistency.

• Supports Planet Fitness Headquarters relationship to maintain high standards of the franchisor relationships through effective communication.

• Collaborates with the Construction and Operations teams to assure timely openings, relocations, expansions and major remodels of facilities within budget constraints and in conformance with lease agreements.

• Collaborates with Facilities as the primary contact for lease enforcement on existing asset base.

• Develops procedures to streamline processes to ensure efficiency and rapid results.

• Works with Construction and Facilities to properly align renewal terms or seek landlord participation in all major renovations.

Qualifications:

• Bachelor's degree in business, construction or related field required. Equivalent related work experience or combination of experience and education may be considered in lieu of Bachelor's degree.

• At least 10 years of experience in commercial development, business, real estate, urban planning or a related field required, preferably for a non-profit, government agency or private financial institution.

• At least 10 years of experience in real estate site selection and lease negotiation required.

• At least 5 years of experience in a role managing a construction team with 10 or more concurrent projects or units in a large box retail environment required.

• Strong knowledge of commercial/retail real estate lease documents and leasing process.

• Ability to read and interpret documents such as policy and procedure manuals.

• At least 5 years of experience using MS Outlook, MS Excel, and project or construction management program(s), such as MS Project, Primavera or Timberline systems required.

• Strong analytical and problem-solving skills.

• Ability to work independently in a demanding, fast-paced environment.

• Ability to manage others.

• Strong project management skills.

• Capable of adapting quickly in a rapidly-changing environment, manage multiple, complex projects for national retail industry and negotiate.

• Knowledge of lease administration and renewal processes, legal requirements and procedures.

• Strong communication, presentation and interpersonal skills.

• Strong knowledge of commercial evaluation metrics.

• Ability to balance multiple priorities and deadlines.

• Strong computer aptitude and ability to learn new applications.

• Ability to apply knowledge of multidisciplinary business principles and practices to achieve successful outcomes in cross-functional projects and activities.

Supervisory Responsibility: This position has no supervisory responsibilities.


Budgetary Responsibility: Provides input for the preparation of the capital budget regarding Real Estate activities, plans, and programs.


Work Environment: This job primarily operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. While performing the duties of this job, the employee will frequently inspect the project and may be exposed to ongoing construction. The noise level in those work conditions may range from moderate to loud.


Physical Demands: The physical demands described here are representative of those that a Team Player must meet to successfully perform the essential functions of this job.

• Regularly required to talk and hear.

• Frequently required to sit; stand; walk; use hands to finger, handle or feel; and reach with hands and arms.

• Occasionally required to climb, balance, stoop, kneel, crouch or crawl.

• Must frequently occasionally lift and move objects up to 50 pounds.

• Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception and ability to adjust focus.

Position Type/Expected Hours of Work: This is a full-time, exempt position. Under the Regulations, Part 541, an exempt Team Player is one who is not entitled to the minimum wage or overtime pay protections of the Fair Labor Standards Act (FLSA).


Standard work days and hours are Monday through Friday, between 8:00 a.m. and 5:00 p.m. This position may work outside of normal business hours, including evenings and weekends.


Travel: 50% travel is expected for this position. Must be willing to travel based on company need to all locations and work sites, as necessary within a reasonable timeframe, either by driving or flying. Overnight trips will be necessary when traveling outside of the local area.


EEO Statement: Excel Fitness is an Equal Opportunity Employer. We are committed to the policy of equal employment opportunity in recruitment, hiring, career advancement, and all other employment practices.


Other Duties: Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the Team Player for this job. Duties, responsibilities, and activities may change at any time with or without notice.

Equal Opportunity Employer
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