- Conducts and/or performs in-depth economic and market analysis to identify specific areas for new development, which considers the location of existing restaurants, placement of competition, potential market penetration and demographics.
- Reviews sites to determine availability, cost, zoning requirements, local ordinances and acceptability to the company and seller/leaser. Requests variances and/or exemptions from zoning laws, when necessary. Provides budgeted timelines for acquisition of real estate and entitlements to construction phase.
- Manages the real estate broker network, if applicable, within the assigned territory to facilitate the identification and timely acquisition of quality sites for future development.
- Investigates and analyzes recent commercial real estate activity on potential development areas to determine the fair market value of proposed sites.
- Completes economic evaluations of each proposed site; obtains preliminary site plans, construction cost estimates and projected sales estimates with the assistance of Planning, Engineering, Operations, Finance, and Legal departments.
- Directs preparation and/or prepares all information for the Real Estate Site Package for new store development, lease renewals and excess property; obtains approvals from management. Submits Real Estate Site Packages to Director of Development for review and approval. Presents site packages to R.E.A.C.
- Negotiates all terms of property acquisitions and leases with property owner; works closely with Legal and Real Estate to ensure compliance with all legal and Company requirements. Submits documentation of terms/conditions to Real Estate and Legal for preparation of contracts and leases.
- Provides supervision of certain other development staff including orientation, coaching, mentoring, performance appraisals, problem solving discussions and other appropriate supervisory activities.
- Supports the development and preparation of capital budgets and long term forecasting for new store development.
- Manages department General and Administrative Expense (G&A) Budgets and other accounting and finance department requirements.
- Manages existing store lease renewal process, real estate land acquisitions by municipalities/ government and lease restriction conflict resolutions. Assists Property Management with other existing store property management issues.
- Performs other job related activities and special projects as assigned.
- B.S./B.A. degree in a related field
- 7 years or more related experience in a corporate real estate position, with emphasis in retail site acquisition and development planning in a multi-location environment
- Previous restaurant industry experience an asset
- Extensive knowledge of real estate and development processes, site plan engineering, market and economic analysis/evaluation, marketing, financial and land evaluation, zoning laws, local ordinances, leases and contracts
- Strong communication and negotiation skills
- Strong analytical and management skills
Some travel required, approximately 25% overnight and 75% day travel.
This job requires a bachelor's degree and 7 years of experience.
Michigan Talent - 3 years ago
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Canada's leading quick-service restaurant brand, Tim Hortons operates a chain of more than 4,000 coffee and donut shops across the...