Director, Real Estate

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Posted Date
02-13-2023
Job ID
27029
Job Function
Real Estate
REI City
Issaquah
REI State
Washington
REI Location
Issaquah HQ
Remote Eligible
Yes
Please visit the Covid-19 Hiring Updates before applying
What's cool about this job

Reporting to the DVP of Physical Place the Director, Real Estate will be responsible for REI’s Real-Estate strategy and execution.  This includes:

-        Real-Estate Strategy - Collaborating closely with the REI’s Retail and Experiences teams to develop multi-year real-estate strategies that encompasses new locations, renewals, closures and moves aligned with business growth, capital expenditure, and cost management goals.

-        Real-Estate Analytics - Working with internal and external partners to build and optimize quantitative models to guide new location evaluation, expand our list of suitable locations, and build pipelines that meet the organizations strategic goals and economic targets.

-        Real-Estate Economics – Work with Finance, Business, Store Design, and Construction teams to ensure inputs into our new store pro-formas are enabling REI to meet its strategic growth and economic goals.

-        New Format Development Support - Partnering with business teams to support the development of new format (e.g. stores, experience centers, signature camps) opportunities through development of supporting real-estate strategies. Utilizing innovative strategies to reduce risk and cost in new format test.

-        New Real-Estate Execution – Developing and managing a nationwide network of brokers to identify and build a sustainable pipeline of viable locations to achieve REI’s real-estate strategies.

-        Portfolio Management and Optimization - Assessing locations for lease renewal, moves and closures and negotiating deals for the same.  

-        Real-Estate Reporting - Providing comprehensive updates and reports on status of all aspects of the RE process to effectively track and communicate status to internal stake holders driving transparency and confidence in the team’s progress.

-        Real-Estate Innovation – Introducing new ideas, innovations, and best practices into all of the above to ensure REI continues to execute at a high level in this critical and highly strategic aspect of operations.

REI is transforming multiple areas of our operating model as part of our multiyear strategic plan and this role will be an integral part of that transformation.   


Bring your passion and expertise

Leading the Way

·        Identifies and communicates key responsibilities and practices to ensure the organization promotes confidence in leadership, and teamwork to achieve business results.

·        Supports the implementation of company programs, procedures, methods and practices to promote REI key messages.

·        Challenges and inspires employees to achieve business results.

·        Ensures employees adhere to legal and operational compliance requirements.

·        Oversees training and development of employees directly and indirectly managed and makes effective staffing choices.

·        Conducts and ensures the completion of performance reviews.

·        Provides coaching, direction and leadership support to employees in order to achieve department, company and customer results.

·        Establishes and maintains visibility within the department.

·        Monitors operational statistics, reports trends, variances and issues, and takes appropriate action.


Your Planning & Navigating Requirements 

·        Develop and execute comprehensive real estate strategy including new store growth, remodels, relocations, based on REI’s vision and strategic plan.

·        Establish appropriate analytical competencies, tools, processes and systems to enable effective market planning, sales forecasting, competitive benchmarking and strategic development.

·        Define and implement a data driven, market prioritization and store site selection criteria using key financial, operational and real estate inputs; develop profitable, replicable and reliable decision-making model.

·        Monitor developments and act as primary resource for market trends, current events, industry activity and competitor location information.

·        Articulate clear and compelling vision and effectively lead your own as well as cross-functional teams in developing strategies and implementing all real estate and development related initiatives.

·        Ensure close alignment with short and long term business strategies.

·        Spearhead new store strategy and lead Real Estate Committee(REC) meetings with key stakeholders.

·        Build strong and collaborative relationships within the retail tenant, developer and landlord communities.

·        Participate as appropriate in industry councils and groups.

·        Lead development and implementation of new store and remodel strategies to optimize the company’s portfolio and position the co-op for long-term growth and sustainability.

·        Enhance profitability of real estate portfolio through optimization initiatives focused on increased productivity, remodels, rationalization, relocations and portfolio negotiations designed to lower overall occupancy costs.

·        Develop and manage robust real estate budgets.

·        Develop financial reporting and maintain financial discipline for all real estate expenditures.

·        Conduct ongoing asset profitability analysis to ensure maximum ROI of new and existing real estate portfolio.

·        Ensure internal alignment and strict maintenance of timelines with eye toward achieving target return on investment.

·        Refine and develop new processes as appropriate to enhance lease administration and portfolio management functions; streamline evaluation and decision-making process and guidelines for all lease renewals, extensions, and other lease actions.

·        Develop clear short and long term perspective on all real estate assets.

·        Attract, develop and retain exceptional, diverse talent, Ensure department and individual priorities are clearly articulated and that development plans are in place for all team members.

As required by applicable Pay Transparency laws, REI provides a range of compensation for roles that may be hired in locations under these requirements. Factors that may be used to determine your actual salary may include a wide array of factors, including: your specific skills and experience, geographic location or other relevant factors. 

The pay for this role is: $137500 - $233900 per year . 
At REI we offer an enviable work environment that Fortune Magazine has recognized on the "100 Best Places to Work" list since the award's inception – 23 years in a row! Sure, we work hard, but it’s balanced with time off to play—a strategy that works for us as we continue to grow and thrive. Want to enjoy a workplace where you can be yourself, be heard and be respected while having a job that challenges you? This is the place.

With more than 160 retail locations (and growing), REI offers unique competitive benefits to its more than 15,000 employees, including healthcare, gear and apparel discounts, free equipment rentals and challenge grants to help employees reach personal outdoor goals, generous retirement plan contributions, public transit subsidy, adoptions assistance, paid sabbaticals, and more.

REI is an Equal Opportunity Employer

Posting Range
$137500 - $233900 per year
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NEW YORK CORRECTION LAW
ARTICLE 23-A, Section 753
LICENSURE AND EMPLOYMENT OF PERSONS PREVIOUSLY CONVICTED OF ONE OR MORE CRIMINAL OFFENSES

§753. Factors to be considered concerning a previous criminal conviction; presumption.

1. In making a determination pursuant to section seven hundred fifty-two of this chapter, the public agency or private employer shall consider the following factors:

(a) The public policy of this state, as expressed in this act, to encourage the licensure and employment of persons previously convicted of one or more criminal offenses.

(b) The specific duties and responsibilities necessarily related to the license or employment sought or held by the person.

(c) The bearing, if any, the criminal offense or offenses for which the person was previously convicted will have on his fitness or ability to perform one or more such duties or responsibilities.

(d) The time which has elapsed since the occurrence of the criminal offense or offenses.

(e) The age of the person at the time of occurrence of the criminal offense or offenses.

(f) The seriousness of the offense or offenses.

(g) Any information produced by the person, or produced on his behalf, in regard to his rehabilitation and good conduct.

(h) The legitimate interest of the public agency or private employer in protecting property, and the safety and welfare of specific individuals or the general public.

2. In making a determination pursuant to section seven hundred fifty-two of this chapter, the public agency or private employer shall also give consideration to a certificate of relief from disabilities or a certificate of good conduct issued to the applicant, which certificate shall create a presumption of rehabilitation in regard to the offense or offenses specified therein.

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