Senior Real Estate Representative - Wakefern Food : Job Details

About Wakefern

Wakefern Food Corp. is the largest retailer-owned cooperative in the United States and supports its co-operative members' retail operations, trading under the ShopRite®, Price Rite®, The Fresh Grocer®, Dearborn Markets®, Fairway Markets®, Gourmet Garage®, and Di Bruno Bros.® banners.

Employing an innovative approach to wholesale business services, Wakefern focuses on helping the independent retailer compete in a big business world. Providing the tools entrepreneurs need to stay a step ahead of the competition, Wakefern's co-operative members benefit from the company's extensive portfolio of services, including innovative technology, private label development, and best-in-class procurement practices.

About You

Summary

As the Senior Real Estate Representative, you will support Wakefern and its Member companies with their long term growth objectives. This position assists the Real Estate Manager in coordinating, directing and achieving continued growth.

The Senior Real Estate Representative is responsible for the identification, development and lease negotiation of new retail locations (both ground up and the conversion of existing buildings) for all Wakefern banners. In this role, it is important to cultivate and maintain professional relationships with existing developers, brokers, landlords and co-tenants and establish new and influential contacts in the real estate field. The ability to evaluate initial site submissions from developers, brokers and landlords and assess strengths and weaknesses of site locations is core to this role. An essential skill for this position is the ability to negotiate business terms such as rent, various occupancy costs, co-tenancy, and restrictions/exclusives.

The Senior Real Estate Representative collaborates with numerous divisions/departments within the cooperative including Engineering (Construction & Design), Market Research, Indirect Procurement, Finance, Legal and Compliance to coordinate efforts to ensure growth opportunities come to fruition.

Essential Functions

• Maintain analytical and technical competence in the field of real estate, including site selection.
• Identify new site opportunities for Wakefern and its Members in our core market states.
• Complete extensive field analysis of all potential locations in the assigned geographical area.
• Assess the strengths and weaknesses of supermarket competition in their assigned geographical area.
• Assist Members in their assigned geographical area with plans for store expansions and remodels, possible lease modifications, negotiate amendments as well as proper and timely exercise of renewal options.
• Assist in the creation of pro forma projections for new and remodeled locations.
• Coordinate the preparation of all legal documents relative to an approved site. Actively engage in Lease negotiations.
• Attend and participate in all relevant internal meetings, including presenting locations to the Site Development Committee and other committees.
• Attend and participate in various real estate industry seminars and educational programs in order to stay current with industry trends and best practices. Attend GRU training and outside seminars as suggested by division leadership.
• Actively utilize and respond promptly to all critical date notices triggered by the Prolease lease management database with all vital and pertinent information to ensure project follow through.
• Participate in the evaluation of and provide real estate perspective on lease value and other various related factors on potential (competitor) store acquisitions.
• Survey and recommend new potential markets/states for Wakefern and its Member Companies.
• May be assigned additional responsibilities as necessary.

Additional Functions

• Ability to meet or exceed specific business metrics as identified in the Real Estate Bonus Incentive Program to include but not limited to:
• # of sites located
• # of sites approved
• # of leases negotiated

Qualifications

• College degree required. Concentration in Real Estate or Commercial Real Estate strongly desired. Commercial Real Estate License, a plus.
• A minimum of 10 years of commercial real estate experience required.
• Demonstrated ability to organize and manage multiple projects simultaneously and meet project deadlines. Strong problems solving skills are required.
• Understands and adheres to maintaining strict confidentiality.
• Strong written, verbal and interpersonal communication skills; ability to lead important meetings and establish actionable expected outcomes. Comprehends and conveys information clearly and effectively.
• Proficient technology skills to include: MS Office, Word, Excel, and Power Point with ability to be trained in various customized Real Estate programs.
• Proven customer service and teamwork skills with a willingness to assist others.

Working Conditions & Physical Demands

• Ability to drive long distances and sit in a car for extensive periods of time
• Ability to monitor computer screens for long periods of time
• Ability to travel within Wakefern trade area (10 states), including overnight travel up to 60%.
• Ability to work a hybrid schedule as established by the division

Competencies

• Communicate Effectively: Communicates thoughts and ideas in a well-organized manner, encouraging two way communication.
• Build Relationships: Creates cross functional partnerships through the development and maintenance of constructive and cooperative relationships.
• Stay Competitive: Demonstrates a mindset of continuous improvement while exhibiting passion and enthusiasm for their work.
• Embrace Change: Looks for new ways of working by supporting advancements in processes and technology.
• Develop You: Identifies and capitalizes on opportunities for personal and professional career growth.

Compensation

Commensurate with experience