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Real Estate Portfolio Manager The candidate will be responsible for lease management, property management and excess property management. Will also be responsible for completing negotiations on all real estate sales, purchases, contract renewals, extensions, consents, and waivers. Report to the Chief Development Officer. Manage PH corporate lease renewals and extensions 2-3 years ahead of lease expiration. Drive strategy, and gain internal alignment around, business terms for corporate leases to provide optimal deal economics and long-term profitability of the store. Address site/facility issues to enhance customer service, sales and profitability of PH restaurants. Improve brand position by elimination of any legacy percentage rent leases, contingent liability/guarantees, unfavorable termination rights, and other unfavorable lease terms. Manage the PH Franchise Sublease/Lease Renewal and Contingent Lease Liability Renewal Programs. Manage de-identification, routine maintenance and major repairs in conjunction with Facility Leader for corporate restaurants. Manage maintenance contractor relationships; source vendors, negotiate contracts and fee structures, and ensure all deferred lease maintenance issues are resolved in a timely manner. Partner with Development, Operations and Finance to ensure relocations, renegotiations and lease terminations are coordinated internally. Direct evaluation process of condemnation opportunities/risks; collaborate with Legal team to ensure receipt of awards from city/state, as appropriate. Conduct comprehensive Property Management Release, including Lease and Title research, and the completion of required consents and notifications and/or lease term requirements as required for the PH remodel pipeline. Prepare legal agreements and documentation for all lease actions. Manage all responses to rights of first refusal. Handle scrapes and rebuilds. Purchase or lease additional land as necessary. Source and manage broker relationships, contracts and fee structures. Perform portfolio, and individual deal, valuation through evaluation of Broker Opinion of Value, to include market analysis, trends and condition of real estate. Evaluate and negotiate all offers based upon, as appropriate, net book value, reserves, competition, timing, market trends, facility condition, security concerns, etc. Ensure Legal, Title and Environmental due diligence requirements are satisfied; to include, lease documents, title & exceptions, deeds and memorandums, site plans, surveys, environmental materials & confidentiality agreements. Manage the negotiating and drafting of purchase/sale agreements, lease terminations, sublease agreements. Ensure timely closing on fee sales, cessation of obligations on lease terminations, sublease rent start dates. Project manage roles of Broker/Buyer/Landlord/Subtenant, Title & Legal Departments to drive deal closure. Negotiate lease terminations directly with Landlordâ€™s on select leases. Manage NFA & Excess Property Reserve reporting of gains, losses and program expenses (period/quarterly). Develop and distribute Marketing Lists to real estate community. Manage de-identification, routine maintenance and major repairs for closed corporate restaurants. Manage 3rd Party Subtenants, Lease Expirations/Renewals, Collections, Lease Terminations, Work out settlements, Default Notices and Evictions. BA/BS degree is required. Degree in Real Estate/Paralegal Studies, Real Estate license is preferred. Must have 5+ years of experience in commercial real estate management (direct experience in QSR or Quick Casual franchise concept preferred). Proven track record of reviewing/negotiating contracts, and closing deals that drive profitability is required. Demonstrated proficiency in related areas, including lease administration, property management/accounting, and legal (commercial real estate and contract) is needed. Working knowledge of lease management systems (Lucernex, etc.) is essential. Should have working knowledge of development-related systems including Site Intel and proficient in the full MS Office Suite.
Req. ID: 89824BR
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