Manager, Real Estate Portfolio

Walgreens Boots Alliance - Riverwoods, IL

Full-time - Mid Level

Riverwoods, IL

10,001+ employees

Health and Personal Care Retailers

About the position

The Real Estate Portfolio Leader at Walgreens is responsible for managing a portfolio of over 500 stores, focusing on maximizing financial performance and creating value through strategic real estate decisions. This role involves analyzing market trends, negotiating leases, and collaborating with various stakeholders to enhance the overall portfolio value while mitigating risks. The position requires a strong understanding of financial principles and the ability to execute strategies that align with the company's objectives.

Responsibilities

• Manages real estate assets of over 500 stores, accounting for over $250 million in rent expense.
• Develops and executes individual strategies for each asset in the portfolio to maximize value for Walgreens.
• Conducts market and sub-market analysis on rents, demographics, supply & demand, and sales comparables to inform strategies.
• Maintains and manages data within the asset management database, focusing on performance metrics.
• Collaborates with internal and external resources to negotiate rent reductions for existing stores.
• Prepares monthly asset management reports to align with division strategy and track progress.
• Contributes to and executes the Annual Capital Plan for each asset to increase portfolio value.
• Manages the portfolio of existing assets to ensure optimal leasing strategy.
• Maintains involvement in real estate, legal, and financial fields related to Walgreens' business.
• Directs resources to execute the property disposition process.

Requirements

• Bachelor's degree and at least 2 years of experience in the healthcare industry, or a High School Diploma/GED with at least 7 years of experience in the real estate industry.
• Experience applying financial principles and concepts for underwriting real estate investments.
• Experience presenting and reporting on project plans and cost-benefit analyses to stakeholders and senior management.
• Knowledge of store-level details, including lease terms and financial performance.
• Experience in negotiating real estate contracts, including lease renegotiations and property disposition.
• Experience applying advanced quantitative and analytical skills.
• Experience in identifying operational issues and implementing strategies to resolve them.
• At least 1 year of direct or indirect leadership experience.