Director of Real Estate

Unclassified - Chicago, IL

Full-time - Director

Chicago, IL

About the position

F1 Arcade is the world's first official Formula 1® social entertainment venue, where high-octane excitement meets exceptional hospitality! Each meticulously designed venue features up to 90 state of the art full motion F1 racing simulators, a world-class food menu and open kitchen, an enormous cocktail and champagne bar, along with private and semi-private event spaces, perfect for all group sizes. Whether or not you're a racing fan, this is a social gaming experience like no other. The Director of Real Estate will be responsible for overseeing the site selection and acquisition process for new venues across the United States. This role requires a strategic approach to identify and evaluate potential locations, ensuring they align with customer data, financial hurdles, and market strategy. The Director will conduct thorough market research, demographic analysis, and benchmarking of similar concepts, as well as perform in-person site assessments to determine the viability of potential locations. In addition to site selection, the Director will lead negotiations with landlords, property owners, and brokers to secure Letters of Intent (LOIs) and lease agreements. This involves developing and presenting proposals that align with the company's objectives and financial targets. The role also includes financial modeling and analysis, where the Director will work closely with finance and construction teams to create comprehensive financial models to evaluate potential sites, including pro forma analysis, cost projections, and ROI assessments. Detailed reports and recommendations will be provided to senior management based on data analysis and in-person market visits. Project management is a key aspect of this position, as the Director will oversee the real estate process from initial site identification to final deal closure. This includes coordinating with internal teams and consultants, such as legal, finance, construction, and operations, to ensure successful execution and integration of new venues. Building and maintaining strong relationships with key stakeholders, including real estate brokers, developers, and community leaders, is essential. The Director will also represent the company at industry events and forums, staying informed about market trends, real estate developments, and the competitive landscape to provide strategic insights and recommendations that guide the company's expansion strategy across the U.S.

Responsibilities

• Identify and evaluate potential locations for new venues across the US.
• Conduct thorough market research, demographic analysis, and benchmarking similar concepts.
• Lead negotiations with landlords, property owners, and brokers to secure LOIs and lease agreements.
• Develop and present proposals that align with company objectives and financial targets.
• Work with finance and construction teams to create comprehensive financial models for potential sites.
• Provide detailed reports and recommendations to senior management based on data analysis and market visits.
• Oversee the real estate process from initial site identification to final deal closure.
• Coordinate with internal teams and consultants to ensure successful execution and integration.
• Build and maintain strong relationships with key stakeholders, including real estate brokers and community leaders.
• Stay informed about market trends and provide strategic insights for the company's expansion strategy.

Requirements

• Minimum of 5+ years of experience in real estate management.
• Proven track record of successfully negotiating retail, restaurant, and commercial leases focused on brand expansion.
• Experience in the social entertainment or hospitality industry is a plus.
• Bachelor's degree in Real Estate, Business Administration, Finance, or a related field.
• Advanced degree or professional certifications (e.g., CCIM, SIOR) are advantageous.
• Proven problem-solving capabilities with creative solutions.
• Strong analytical and financial modeling skills.
• Excellent negotiation and communication abilities, both verbally and written.
• Proficiency in real estate software and tools.
• Ability to manage multiple projects and priorities effectively.
• Proven ability to work independently and as part of a team.
• Willingness to travel extensively across the U.S.

Nice-to-haves

• Experience in the social entertainment or hospitality industry is a plus.
• Advanced degree or professional certifications (e.g., CCIM, SIOR) are advantageous.