Position: Chief Development Officer
Reports to: Chief Executive Officer
Location: MA-Middlesex, Norfolk, Worcester County
General Summary:
The Chief Development Officer is an innovative executive responsible for leveraging data-driven, actionable insights and recommendations to cultivate new business opportunities, develop strategic business plans, and expedite the company's evolution and growth. They lead real estate and construction activities, including land/building acquisitions, leasing, design, construction, and maintenance of site locations. This position is responsible for acquisition/disposition strategy, lease negotiation/administration, asset management, property repairs and maintenance, market analysis, permitting, and redevelopment activities.
Responsibilities:
- Sets overall real estate development direction and strategy based on business objectives
- Builds the future development pipeline and oversees site selection through acquisition
- Maximizes the performance and value of real estate assets through strategic planning and improving net operating income through leasing, lease terminations, acquisitions, and disposition of real estate assets
- Prepares and executes strategic portfolio business growth plans, budgets, and financial forecasts
- Determines and articulates the business and financial rationale to support real estate transactions
- Evaluates and provides direction and approval to Facilities Development & Maintenance staff responsible for construction efforts regarding planning, design, and completion of all projects, including new construction, retrofits, renovations, remodels, signage, and maintenance
- Creates, designs, and implements architectural construction design on all new and remodel construction efforts as required and approved by the company
- Prepares and maintains budgets, forecasts, and reports financial performance relating to all construction, architectural, surveying, and final execution of all store construction functions
- Builds general contractors and architects relationships to perform on new store retrofit and remodel projects through rigorous and consistent vetting via the Scorecard process
- Oversees and participates collaboratively in negotiations for all contracts with general contractors and administers company billing procedures
- Ensures that investment analysis, due diligence, and legal & regulatory analysis meet corporate expectations
- Leads the structuring of all real estate deals, including negotiating, reviewing, and advising on commercial leases and related documents
· Conducts comprehensive research on prospective site selections and property acquisitions.
· Builds financial model including sensitivity analysis, IRR, DCF, NPV, ROI calculations, demographic research, and lease economic analysis, including effective net rents
· Expands into new markets by developing, maintaining, and growing relationships with major developers, other prospective real estate sellers/lessors, and real estate brokers
· Participates in the M&A process from due diligence to post-closure along with other divisional stakeholders
- Evaluates the existing store portfolio's performance and recommends renovation/relocation/closure decisions
· Manages sublease administration processes, providing direction and planning for all subleased properties
- Monitors team performance and results and implements continuous improvements to maximize productivity, profitability, and service
· Retains, recruits, and manages a team of real estate professionals with an appropriate balance of skills and experiences; establishes work plans, performance objectives, and goals; regularly reviews team performance; provides professional development and training opportunities to cultivate staff skills
QUALIFICATIONS
· Experience as a proven senior executive in the retail industry and/or business organization of relevant size and complexity; evidence of developing progressive business policies and practices that advance the strategic goals of the organization
· +10 years of progressive commercial real estate and construction experience in acquisitions and asset management with a primary focus on retail. Shopping center development and/or national discount retail store experience preferred
· +10 years of direct experience with corporate and commercial real estate transactions, including site identification, evaluation, sale, leasing, and management of owned and leased properties
· +10 years of direct experience negotiating lease terms, working with brokers and legal counsel, and reviewing legal documents
· Executive-level skill in managing, controlling, and operating a portfolio related to Retail Stores and Construction Industries preferred but not required
· Strong initiative, innovation, and entrepreneurial spirit
Exceptional oral and written communication skills, negotiation skills, and a proven ability to collaborate and galvanize stakeholders to work together. Stellar public speaking and presentation skills
· Demonstrated leadership skills, including coaching and developing others, delegation, managing mutual expectations, and building organizational talent
BS/BA in Engineering, Business or Law, MBA preferred
ATTRIBUTES:
· Leadership: You are a strategic thinker and leader in your everyday work. You pride yourself on developing future leaders; you have direct experience managing, training, and elevating team members to greater responsibilities
· Passionate: You demonstrate hunger and ambition in the work that you take on, always striving for extraordinary results
· Risk / Reward: You understand the value of taking calculated risks in pursuing your goals; you act swiftly when you see a great opportunity and aren’t afraid to take responsibility for your actions.
· Team Oriented: You understand that strong teams outperform strong individuals and promote your team's success above personal gain or recognition.
· Effective Communicator: You communicate professionally and candidly; you understand the importance of communication in building a culture of trust and respect.
· Analytical: You use logical reasoning and data to measure, analyze, adjust, and continuously improve your operations. You have strong problem-solving skills.
Job Type: Full-time
Pay: $275,000.00 - $300,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Employee discount
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Parental leave
- Referral program
- Tuition reimbursement
- Vision insurance
Schedule:
- 8 hour shift
- Monday to Friday
Application Question(s):
- Do you have 10 years of progressive commercial real estate and construction experience in acquisitions and asset management with a primary focus on retail?
- Do you have 10 years of direct experience negotiating lease terms, working with brokers and legal counsel, and reviewing legal documents?
- Do you have executive-level skill in managing, controlling, and operating a portfolio related to Retail Stores and Construction Industries?
Education:
Ability to Commute:
- Norfolk County, MA (Preferred)
Ability to Relocate:
- Norfolk County, MA: Relocate before starting work (Required)
Work Location: In person