Real Estate Acquisition Manager

Title: Real Estate Acquisition Manager

Chicago, IL

Position May Require Future Relocation

QuikTrip is looking for candidates with Corporate real-estate site selection and acquisition experience.

Primary Purpose Of Job:

This position will assist the Regional Director of Real Estate or Division Real Estate Manager in identification of potential store locations. Manage the acquisition of approved locations and assist with obtaining the necessary zoning, variances, plan approvals and permits for the construction of new stores and store projects to meet the goals of the Strategic Plan. Control professional service and development costs on all projects and represent the company’s interests in the local real estate and development community.

Major Functions:

Maintain a sufficient number of locations for review and approval by the Regional Director of Real Estate or Division Real Estate Manager to achieve the goals of the Strategic Plan.

• Develop and maintain expert knowledge of each box and area as assigned.
• Identify and research potential sites.
• Prepare Site Approval packages per the guidelines.
• Develop an acquisition strategy for placing a site under contract.
• Obtain the correct location.
• Control land costs.
• Expedite the acquisition process.
• Meet the productivity goals of site approvals that are established for the current fiscal year.
• 25%

Negotiate all deals to the company’s utmost benefit.

• Employ perseverance and a sense of urgency.
• Utilize creative real estate strategies.
• Maintain a network of skilled, production-oriented real estate brokers.
• Understand the basic real estate values in the market.
• Meet productivity goals of contracts signed that are established for current fiscal year.
• 25%

Assist the Real Estate Project Manager in the representation of the company on zoning, planning, variance and permitting issues.

• Meet with state, county and city planning, zoning and engineering departments.
• Attend relevant public meetings.
• Understand the area's political arena.
• Develop and maintain professional relationships with utility companies, governmental agencies, elected officials, developers, brokers, investors, landlords, attorneys, consultants and title companies.
• Participate in various public initiatives that benefit the company.
• 10%

Assist the Real Estate Project Manager in overall project management.

• Conduct a handoff of project information.
• Assist with the development, implementation and maintenance of the critical path.
• Assist with development strategies involving:
• Site development process.
• Satisfaction of federal, state, and local municipal requirements.
• Retention of QuikTrip standards for site development.
• Profitability of location.
• Limitation of dead deal costs.
• Provide timely project reporting and tracking, pursuant to the current store development standard and procedures.
• 5%

Prepare and manage contracts, leases, easements and development agreements.

• Ensure all such documents are completed timely, accurately and serve the best interests of the company.
• Coordinate with local attorney or QuikTrip General Counsel or Corporate Counsel.
• Review with the Director of Real Estate or Division Real Estate Manager.
• Ensure all deadlines are met in a timely manner.
• Review and prepare documents for close of escrow.
• Ensure Title Insurance policy and commitment are correct and meet the standard and procedures.
• 15%

Coordinate documents between Sellers, Neighbors, and Store Development personnel.

• Easements.
• Escrow Agreements.
• Development Agreements.
• Utility plans.
• Property dimensions.
• Miscellaneous documents.
• 10%

Assist the Division Real Estate Manager, Regional Director of Real Estate or Vice President of Real Estate with special projects.

• Manage the Sale Lease Back Program as needed and negotiate with existing Landlord’s for potential store buy-back purchases to facilitate redevelopment of our new store prototype.
• Manage the Surplus Property Program as needed
• Manage operating store lease extensions, right of first refusals, amendments and other requirements as outlined in the operating store leases.
• Provide updates to the project owner.
• 5%

Maintain open, ongoing communication with construction personnel.

• Attend pre-bid and pre-construction meetings as needed.
• Ensure accurate preparation of bid and construction documents.
• Provide details of all design, permitting, utility, signage, landscaping and potential construction issues.
• Provide ongoing assistance to the Construction Manager in the areas of issue/conflict resolution and cost control.
• 5%

Position In Organization:

Reports to: Regional Director of Real Estate or the Division Real Estate Manager

Relationships:

Inside the Company : Store Development, Corporate Counsel, Store Development Accounting, and Operations staff.

Outside the Company : Brokers, developers, surveyors, engineers, architects, governmental officials, attorneys, investors, property owners and other consultants.

Position Specifications:

Required Education: College degree in Real Estate, Business or Engineering or equivalent experience.

Desired Education: Advanced degree in Business or Engineering.

Required Experience : Two to three years’ experience in site selection and commercial real estate acquisition and/or development.

Desired Experience : Three to Five years’ experience in a commercial real estate acquisition and/or development.

Required Skills: Layout site plans, estimate construction costs, excellent negotiation skills, communications and organizational skills. Personal computer skills. Critical thinking and problem-solving skills.

Desired Skills: Experience in site selection, contract and lease negotiation and project management.

Additional Criteria:

This position requires the employee to be available by phone and/or email and/or have accessibility to calendar, contacts and data while out of the office. Proficiency in job functions is expected within two years of starting this role.

Must be able to travel, extensively at times, to existing QT markets and/or RSN regions in order to perform functions related to site selection, acquisition and development of sites.

Starting Salary: $125,400 - $172,000