Description
We are seeking an experienced VP of Real Estate and Development to manage the expansion of new restaurant locations for our brand, Starbird. The VP will be based at our SF Bay Area Support Center and oversee the comprehensive real estate strategy, construction management, and corporate and franchise new restaurant pipeline development throughout the United States.
The Vice President of Real Estate and Development will play a key role in developing and executing strategic plans to facilitate sustainable growth, streamline processes to save time, reduce complexity, and maximize capital returns. Collaborating closely with senior leadership across the organization and with our franchise partners, the vice president of Real Estate and Development will devise strategies for entering new markets and support the successful construction of new restaurants.
This role involves close collaboration with external contractors and the internal Starbird team to assist in new restaurant projects, renovations, and other repair and maintenance tasks.
Furthermore, this individual will contribute to evaluating the construction requirements for the pipeline of new restaurant real estate and offering initial support for franchise partners during construction while managing daily operations and responsibilities.
Key Responsibilities: Maintain a comprehensive understanding of Starbird's leasing needs, market trends, competition, and other factors impacting real estate decisions.Meet financial targets for new stores, attain a favorable return on invested capital (ROIC), and drive cost reductions.Oversee the entire store construction process to ensure that performance commitments, including opening dates and financial goals, are achieved.Conduct market tours, create proformas, prepare letters of intent, negotiate leases, manage renewals, expansions, relocations, and potential closures.Evaluate new store spaces for layout, identify potential challenges, adhere to design standards, and minimize costs.Secure necessary permits and approvals and meet regulatory requirements.Draft and submit restaurant budgets based on work scope and resource needs, and effectively manage construction projects to ensure timely and within-budget completion of new restaurants.Issue timely progress updates on costs and timelines.Ensure compliance with pertinent building and safety codes.Select and oversee relationships with subcontractors and suppliers.Coordinate project activities among architects, designers, engineers, and subcontractors.Requirements: Bachelor's degree in Real Estate, Business Administration, Finance, or a related field strongly preferred.A minimum of 10 years of experience in real estate, asset management, or a related field with a proven track record of successful large-scale projects.Experience in supporting the development of a franchise system.Must be an experienced organizational leader with great leadership, sales, presentation, and professional communications skills.Strong financial acumen, analysis, problem-solving, negotiating, and influencing skills.Strong understanding of real estate markets, zoning laws, property management, and real estate finance.Experience in negotiating and managing contracts and leases.Some restaurant experience.Excellent communication skills, both written and oral, with all levels of the organization, including management, peers, and clients.Demonstrated leadership skills with the ability to manage and mentor a team.Ability to create and manage budgets, financial reports, and financial modeling.Experience working with architects, contractors, and other stakeholders in the construction process.Strong analytical and problem-solving skills.Willingness to travel as needed for site visits, meetings, and project oversight.Experience with site due diligence.Ability to manage multiple projects simultaneously and meet deadlines under pressure.If you are the right fit for this position and meet the qualifications and requirements listed above, we encourage you to apply.
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