Manager Real Estate

CAVA - Washington, DC

Full-time - Mid Level

Washington, DC

Food Services and Drinking Places

About the position

At CAVA, we are on a mission to make it deliciously simple to eat well and feel good every day. Our Mediterranean heritage guides us in perfecting how to eat and live, and we prioritize authenticity, curiosity, and the pursuit of excellence in everything we do. As a Real Estate Manager for the Great Lakes region, you will play a crucial role in our fast-growing culinary brand, which includes a portfolio of fast-casual restaurants and a packaged goods line dedicated to fresh, Mediterranean-inspired cuisine. This position is not just about managing real estate; it's about being part of a team that is passionate about finding quality locations and securing the best deals to fuel our ambitious growth plans. In this role, you will execute and influence a 5-year strategic development plan for every designated market area (DMA) in your assigned territory. You will leverage data analytics, local market knowledge, and collaboration with real estate brokers and cross-functional team members to validate and refresh the development plan annually for high-growth DMAs. Your responsibilities will include evaluating and tiering all identified trade areas, managing relationships with real estate brokers, and ensuring CAVA is top of mind among landlords and developers for new site opportunities. You will also negotiate letters of intent (LOIs) for identified sites, conduct site approval tours, and build comprehensive site packages for presentation to the real estate committee for approval. As a key player in our expansion efforts, you will work closely with landlords and cross-functional teams to complete due diligence on approved sites, resolve any issues, and negotiate leases efficiently. Your ability to prepare and present key financial metrics will be essential for securing final approvals. Additionally, you will monitor the ongoing needs of existing restaurants and provide real estate input where necessary, establishing and managing broker relationships to support our growth objectives.

Responsibilities

• Execute on and influence a 5-year strategic development plan for every DMA in assigned territory.
• Complete refresh of the development plan annually for high growth DMAs.
• Leverage data analytics, local market knowledge, real estate brokerage, and cross-functional team members to validate the development plan.
• Evaluate and tier all identified trade areas (Tier 1, 2, and 3).
• Complete a stack ranking of trade areas in order of priority for development.
• Manage real estate brokers in assigned region to elevate CAVA among landlords and developers.
• Identify high-profile, high-quality sites for new CAVA restaurants in conjunction with real estate brokers.
• Negotiate LOIs for identified sites with a focus on deal economics, tenant improvement allowance, and landlord work letter.
• Conduct site approval tours with leadership.
• Build site packages for all sites with an executed LOI and present to the real estate committee for REC 1 approval.
• Work with landlords and cross-functional teams to complete comprehensive due diligence on REC1 approved sites.
• Resolve any open issues/questions in a timely manner to keep projects on schedule for REC 2 approval.
• Work with outside counsel to negotiate leases efficiently and timely.
• Prepare and present key financial metrics (CapEx, CoC returns) to the real estate committee for final REC2 approval.
• Monitor ongoing needs of existing restaurants and provide real estate input where needed.
• Establish and manage broker relationships.

Requirements

• 4 years of Real Estate site selection experience
• Bachelor's degree in business, Real Estate, or a similar field
• Ability to manage a high volume of projects at once
• Highly motivated and organized
• Strong interpersonal and networking skills
• Eagerness to join a growing company and help build a brand.

Benefits

• Competitive salary, plus bonus and long-term incentives
• Early Wage Access
• Unlimited PTO, paid parental leave, plus paid opportunities to give back to the community
• Health, Dental, Vision, Telemedicine, Pet Insurance plus more
• 401k enrollment with CAVA contribution
• Company-paid STD, LTD, Life and AD&D coverage for salaried positions
• Free CAVA food
• Casual work environment
• Opportunity to be on the ground floor of a rapidly growing brand