Manager Real Estate Portfolio

Job Summary:

Provides insight to support strategy into the new and existing store base within assigned region. Develops and maintains knowledge of regional market trends and makes recommendations to create financial value. Focuses on maximizing financial performance, identifies and executes opportunities to to increase efficiencies. Preserves and increases earnings to achieve the highest portfolio value while mitigating risk through successful negotiation of property disposition, lease and financial restructuring activities. The Real Estate Portfolio leaders will work closely with our Operations market leaders and cross functionally with Walgreen Co enterprise leadership.

Job Responsibilities:

• Manages real estate assets of over 500 stores, which account for over $250 million in rent expense.
• Develops and executes individual strategies for each asset in portfolio with focus on creating and generating the maximum value for the Walgreen Company.
• Conducts market and sub-market analysis on rents, demographics, supply & demand, sales comparables, lease comparables to create informed data driven strategies, programs and methods to maximize the financial and operational return on assigned real estate portfolios.
• Maintains and manages data within the asset management database with emphasis on reviewing and managing performance metrics to guide future strategies.
• Collaborates with internal and external resources to negotiate rent reductions for existing stores.
• Prepares monthly asset management reports to align with division strategy and objectives to track progress and further drive value creation activities.
• Contributes and executes Annual Capital Plan for each asset to increase portfolio value.
• Manages portfolio of existing assets to ensure optimal leasing strategy.
• Maintains active involvement in the real estate, legal, and financial fields that relate to Walgreens’ business, including industry networking and continuing education groups (i.e. ICSC, CCIM, etc.)
• Directs internal and external resources to property execute disposition process.

About Walgreens
Founded in 1901, Walgreens ( proudly serves nearly 9 million customers and patients each day across its approximately 8,500 stores throughout the U.S. and Puerto Rico. Walgreens has approximately 220,000 team members, including nearly 90,000 healthcare service providers, and is committed to being the first choice for pharmacy, retail and health services, building trusted relationships that create healthier futures for customers, patients, team members and communities.

Basic Qualifications

• Bachelor's degree and at least 2 years of experience in healthcare industry OR High School Diploma / GED and at least 7 years of experience in the real estate industry.
• Experience applying financial principals and concepts for underwriting real estate investments (RR, NPV, Cap Rate, ROIC, Cost of Capital, EVA, etc.)
• Experience presenting and reporting on project plans and cost benefit analyses to appropriate stakeholders, executives and senior management.
• Knowledge of store-level details, including lease terms, financial performance.
• Experience in negotiating real estate contracts (including lease renegotiations, property disposition, vacant property subleases).
• Experience in applying advanced quantitative and analytical skills.
• Experience in identifying operational issues and recommending and implementing strategies to resolve problems.
• At least 1 year of direct leadership, indirect leadership and/or cross-functional team leadership.
• Willing to travel up to 25% of the time for business purposes (within state and out of state).

Preferred Qualifications

• MBA in Real Estate, Finance, Economics, or Development.
• Experience in managing external resources (landlords, brokers, contractors) to develop strategies that meet department goals within budget and established timelines.
• CFA , CPA , JD

We will consider employment of qualified applicants with arrest and conviction records.

The Salary below is being provided to promote pay transparency and equal employment opportunities at Walgreens. The actual hourly salary within this range that you will be offered will depend on a variety of factors including geography, skills and abilities, education, experience and other relevant factors. This role will remain open until filled. To review benefits, please click here jobs.walgreens.com/benefits. If you are applying on a job board or unable to click on the link, please copy and paste this URL into your browser jobs.walgreens.com/benefits

Salary Range: $102800 - $164400 / Salaried