Real Estate Director, Retail Salary
A Real Estate Director, Retail earns an average salary of $118,559 per year. Most people in this job have more than five years' experience in related jobs. A skill in Strategic Planning is associated with high pay for this job.
Job Description for Real Estate Director, Retail
Any company or corporation which depends on brick-and-mortar retail outlets, stores, and franchises will typically have a real estate director of retail to handle key elements of the physical acquisition of assets onto which these properties can be built. The real estate director will typically help site new locations, negotiate lease or property sales transactions, and ensure that necessary property maintenance systems and agreements are implemented and upheld.Read More...
One of the first priorities of a real estate director is to ensure that the company has a strong set of parameters for likely locations for future retail stores. It is an old but well-regarded truth in retail that any problem at an under-perfoming store can be resolved, EXCEPT its location. The real estate director ensures that the company's stores are set up for success by creating demographic analyses and profiles of successful stores within both the company and the retail sector in general. Additionally, this director must be aware of the requirements and limitations of the company's typical store blueprints, and may need to work occasionally with the company's site developers and architects to ensure that any and all real estate under consideration is acceptable.
After locations are identified, the real estate director negotiates lease agreements or purchase arrangements with landlords or property owners. The director's goal is to secure the most company-friendly leases or purchase prices, which may require working with a finance director or department. Finally, the real estate director will help ensure utilities are online and ready and facilitate the ongoing upkeep of property by securing any required maintenance agreements for items like landscaping, snow plowing, window washing, and so on.
To work as a real estate director of retail, a person must typically possess a college degree in Business Management and have practical experience in real estate negotiation and acquisition. Applicants must have excellent analysis skills and strong knowledge of market factors which may affect the value of land or facilities to be leased or purchased. A real estate director will typically work in an office, but the job's demands are also likely to create significant travel requirements.
Real Estate Director, Retail Tasks
- Monitor and maintain adherence to deadlines and budgets.
- Establish goals, review and evaluate internal processes, and report any results.
- Coordinate site selection and oversee deal making processes for new projects, relocations, or lease renewals.
- Identify, research, and pitch properties that align with company criteria and specifications.
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