Real Estate Director
The Real Estate Director will support and assist the VP of Real Estate with negotiating high profile and complex real estate transactions and related agreements, ensuring protection of Company's interests. Review and negotiate all real estate and site development opportunities, including REA amendments, development consents, and real estate sales. Along with directing and managing the Company’s existing real estate asset portfolio and real estate corporate strategy objectives.
Primary Responsibilities:
- Responsible for all Real Estate activities related to new store development and the existing portfolio, including negotiations, legal documentation, and market research.
- Leads and participates in the development of long range strategic real estate plans with VP – Real Estate and senior management.
- In collaboration with Finance and Area Research, coordinates the development of appropriate materials and support information for monthly Real Estate Committee meetings and presents real estate proposals to JCP senior leadership team as well as JCP ownership for approval.
- Creates and maintains appropriate reports, schedules, etc. to ensure that critical action dates are met for the protection of the Company’s real estate assets, as well as tracking for all site development projects and land sale opportunities.
- Collaborates with store/field operation in relationships with landlords and developers, new market and store development and advises them real estate matters.
- Collaborates with Legal department in negotiation of all lease and property documents, including new store leases, lease amendments, REA amendments, consent agreements, purchase/sale agreements, etc. ensuring compliance with the proposed business terms.
- Coordinates with Store Construction in obtaining store modernization cost estimates, new store cost estimates, and advice regarding physical aspects of site and store layout.
- Collaborates with Lease Administration team to resolve property management or lease issues with landlords.
- Collaborates with Finance partners to develop new store proformas, relocation/downsize proformas, and financial analysis for lease renewals, store closing, store buyouts, etc.
- Lead process to assess, negotiate and contract for IBO and warehouse space as needed.
Core Competencies & Accomplishments:
- 8-15 years' experience in negotiating retail LOI’s and leases, Reciprocal Easement Agreements, and related real estate documents; prior site development experience preferred.
- Proficiency in Microsoft Office and ability to learn latest programs. Experience with Lucernex (lease administration software) preferred.
- College degree in finance, accounting, business administration, or other relevant subject area. Law degree or MBA highly desirable.
- Must have strong leadership, strategic, management, negotiation, and execution skills.
- Must be able to understand and negotiate complex business and legal agreements, ability to perform basic financial analysis, work with Senior Management and possess oral and written communications, critical thinking and negotiating skills.
Enjoy a rewarding career at JCPenney Corporate, where we offer a competitive benefits package, a vibrant work environment, and the opportunity to make a difference at one of America's most iconic retailers.
- Generous benefits: Medical/dental/vision insurance starting on day one, term life insurance, paid vacation/holidays, 401(k) Savings Plan with company match, and an associate discount on JCPenney merchandise.
- On-site amenities: Daycare, Grab & Go Store, Coffee Shop, the Local Kitchen, fitness center, free garage parking, golf simulator, arcade, pickleball courts, and vibrant co-working spaces, meeting rooms and wellness rooms.
- Exciting location: Our corporate office is located in the heart of Legacy West, a vibrant new development in Plano, Texas, with plenty of shopping, dining, and entertainment options.
- Opportunities for growth and development: We are committed to helping our employees grow their careers and develop their skills. We offer a variety of training and development programs, as well as opportunities for advancement.
- Collaborative and supportive culture: We believe in creating a workplace where everyone feels valued and respected. We encourage teamwork and collaboration, and we are always looking for ways to support our employees' success.
About JCPenney:
JCPenney is the shopping destination for diverse, working American families. With inclusivity at its core, the Company’s product assortment meets customers’ everyday needs and helps them commemorate every special occasion with style, quality and value. JCPenney offers a broad portfolio of fashion, apparel, home, beauty and jewelry from national and private brands and provides personal services including salon, portrait and optical. The Company and its 50,000 associates worldwide serve customers where, when and how they want to shop – from jcp.com to more than 650 stores in the U.S. and Puerto Rico. In 2022, JCPenney celebrates 120 years as an iconic American brand by continuing its legacy of connecting with customers through shopping and community engagement. Please visit JCPenney’s Newsroom to learn more and follow JCPenney on Facebook, Instagram, Twitter and LinkedIn.
For more opportunities to join our team please visit our careers page.
