Real Estate Manager
The primary purpose of the Real Estate Manager – Property Management is to consistently and timely perform the projects and daily tasks necessary to meet the department Functional Plan goals for a large portfolio of real estate assets and to maximize the long term value through implementation of policies, procedures, and programs. The Real Estate Manager - Property Management will be the primary partner and liaison with operations multi-unit managers and internal Real Estate, Engineering and Construction departments to realize year over year improvements in cost-control, quality, service, and business alignment.
- Reviews and evaluates existing stores within the assigned region for changes in local ordinances, real estate, ancillary and other such agreements affecting operations
- Primary point of contact for owners and landlords for questions and issues.
- Negotiates real estate agreements as necessary with interested parties that, in the best interest of the company and in accordance with corporate guidelines.
- Maintains and controls divisional financial budget process (forecast and actual) for common area maintenance and reconciliations that reduces cost and delivers business objectives
- Develops, maintains and manages portfolio calendar of events and tasks
- Administers ancillary agreements such as Easements, Covenants, Conditions and Restrictions agreements (ECCR) and any requirements, obligations or payment schedules contained therein that impact stores to ensure obligations are met and the company’s interests are protected.
- Supports store operations management through analysis and communication of the company’s obligations related to use and operation of the store.
- Reviews and tracks location documentation to make certain all reimbursement obligations have been captured
- Performs reviews and approval of annual lease reconciliation, payables and receivables
- Coordinates with internal partners in Site Incentives, Excess Property, Engineering and Construction (E&C), Facilities, Distribution and Supply Chain to leverage economies of scale
- Assists the Property Administration role to maintain the integrity of the Location Management System to ensure information is current and accurate as a business support tool
- Assists Senior Real Estate Manager – Property Management in developing and implementing recommendations to position the property to achieve the highest value consistent with business objectives
- Performs due diligence for ECCR amendments and estoppels request from developers/landlords
- Provides input and support to the Senior Real Estate Manager – Property Management and Director Property Management for proposals, projects, and documentation requiring approval with senior management
- Works with the Director Property Management to ensure appropriate expense control of properties.
- Review public notices received from regulatory and other authorities for potential impact on the company’s real estate assets and assist store operations in minimizing any negative impact.
- Adheres to all departmental operational guidelines and procedures to include use of technology systems such as Location Management, Asset Management, Incident Management and Central Repositories
- Responsible for special projects assigned to the department as desired by company management.
- Bachelor's Degree in Preferably in Business Administration, Real Estate, Engineering, Architecture, or Construction
- 5 years of experience as a Property Manager working with multiple sites in a large retail property management firm, preferably big-box
- 5 years of experience in real estate managing negotiations of $10M+ occupancy costs of 100 + sites
- Master's Degree in Real Estate Law
- Certified Property Manager (CPM) or Certified Commercial Investment Member (CCIM) designation
- 3 years of experience in big box property management
- 3 years of experience managing CAM audits and reconciliations
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 18 million customers a week in the United States and Canada. With fiscal year 2018 sales of $71.3 billion, Lowe’s and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ approximately 300,000 associates. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.
Lowe’s is an equal opportunity affirmative action employer and administers all personnel practices without regard to race, color, religion, sex, age, national origin, disability, sexual orientation, gender identity or expression, marital status, veteran status, genetics or any other category protected under applicable law.