HQ-Real Estate Manager

Genuine Parts Company - Atlanta, GA

Full-time - Mid Level

Atlanta, GA

Motor Vehicle and Parts Dealers

About the position

The Real Estate Manager at NAPA Headquarters is responsible for leading the new store expansion strategy, which includes site searches and contract negotiations. This role involves extensive travel across the US to evaluate potential store locations and conduct market analysis to assess profitability and impact on existing stores. The position is crucial for driving GPC's bottom line and requires a candidate with significant experience in retail site selection and strong negotiation skills.

Responsibilities

• Develops and implements market planning, lease negotiations, and lease execution in several markets nationwide resulting in new store openings.
• Interfaces with landlords, developers, real estate professionals, store operations, and senior management to effectuate strategies by opening new stores.
• Engages brokers to help implement new store expansion strategy including managing broker relationships, bringing in new sites, drafting letters of intentions, and creating brief summaries of deal.
• Acts as a liaison between company and broker on issues regarding real estate.
• Identifies markets and trade areas for strategic store placements by performing market analysis including evaluating market competitors and projecting market sales and volume.
• Reviews current company footprint including proximity to company stores, evaluating how new store will affect other store profitability and determining if the new store would add to bottom line.
• Utilizes financial models and store operating proformas to predict stores performance and determine store profitability.
• Drafts and negotiates letters of intent, leases, and related documents by working with landlords.
• Negotiates contract terms and landlord responsibilities.
• Reviews and approves documents for accuracy and works with legal to create finalized document.
• Explains real estate and lease circumstances to field managers as needed including lease interpretation as questions arise.
• Works with field operations team to prepare real estate approval packages for all new and relocated sites, including executive summary, proformas, competitor information, market data, etc.
• Estimates property value by researching and analyzing property information for market comps, acquisitions, and financial audits.
• Conducts ad hoc analysis quickly with high degree of accuracy including calculating market rents for upcoming store purchases, producing reports for senior and executive team, as well as reports relating to market value comparative analysis and subleases.
• Performs other real estate tasks as directed.

Requirements

• 7+ years of experience with retail site selection in a multi-unit corporate environment development in high growth situations.
• Experience developing and following Real Estate and/or Development and Construction department procedures.
• Ability and experience in estimating retrofit and build out costs.
• Experience in the managing of refurbishments or construction projects is a plus.
• Bachelor's degree or equivalent, preferably in real estate, business administration, or related field.
• Proficiency with the Microsoft Office Suite (Excel, Word, and PowerPoint).
• Understanding of real estate laws, practices, calculations and experience in the negotiation of real estate contracts.
• Strong analytical skills including the ability to perform market analysis, calculate figures amounts relating to real estate leases and related occupancy costs (e.g., taxes, insurance and common area costs).
• Strong attention to detail.
• Proven track required in identifying, securing, and delivering sites in multiple metropolitan markets required in a fast paced work environment.
• Knowledge of the process of taking site form market research and planning through to the final lease negotiation and site permitting.
• Proven record with managing multiple cross functional business relationships with internal and external parties.
• Project management skills with a structured, methodical, and analytical work approach.
• Independent worker who is flexible and reliable with strong communicative skills and a hands-on work approach.
• Ability to prioritize and handle multiple assignments at any given time while maintaining commitment to deadlines.
• Must possess advanced negotiation skills and the ability to verbally express thoughts in a logical, persuasive manner.