The Vice President Real Estate Acquisition reports to the Senior Vice President Facilities and Security and is responsible for all company property acquisitions, including due diligence, to support the company’s growth, organically and through merger and acquisitions. This includes land and property purchases, leases, licenses and other agreements required to grow the company’s branch, ATM and regional office/ancillary facility network in a large and rapidly expanding service area. The position is also responsible for managing all property dispositions, subleases and other agreements to dispose of or utilize unproductive real estate assets. An Asset Manager reports to the position.
ESSENTIAL JOB FUNCTIONS
- Manage and drive the property site selection process with an established national brokerage platform and select senior leadership to identify and procure the best sites available to support the company’s branch, ATM, regional office and ancillary facility expansion programs, including comprehensive, proactive, timely and recurring reviews of markets of interest through site/market visits and demographic analysis.
- Lead property acquisition and disposition negotiations with input and assistance from select senior leadership, brokers, Legal, Insurance and outside counsel. This includes the negotiation of business and operational terms for all Letters of Intent (LOI), Purchase and Sale Agreements (PSA), Leases, Subleases, Licenses and other agreements to control or dispose of real estate assets.
- Complete all due diligence required to vet potential property acquisitions during the Inspection Period under a PSA or prior to lease execution under a lease. For purchases this includes coordination of survey and title matters with Legal and outside counsel, procurement and review of geotechnical report(s), procurement and review of environmental report(s), review of Seller property documents, review of easements, covenants and restrictions and other matters impacting the property. For mergers and acquisitions, coordinate title review of owned properties with Legal and outside counsel, review lease documents for leased facilities, complete environmental review of owned properties and complete property condition assessments with architects/engineers for owned properties and leased properties, depending on lease term.
- Manage the site plan approval process for land purchases within the PSA Inspection Period, working with civil engineers and architects to develop site and architectural plans in conformance with local code/zoning/ordinances acceptable to the company, municipal jurisdiction and applicable developers, architectural review boards, development tenants and owners’ associations. This includes the vetting and availability of development rights, concurrency, impact fees, signage rights and other entitlements and matters impacting property and development.
- Upon completion of Due Diligence and Site Plan Approval within the PSA Inspection Period, the position will manage the closing/purchase process with Legal and outside counsel and retain all property records required under the company’s records retention policy. Upon completion of due diligence under Lease transactions, the position will move the Lease to execution, manage all aspects of document retention required by the company’s records retention policy and track and monitor all pertinent lease terms, including the processing of payments, exercising of options and other pertinent business terms, rights and obligations. For mergers and acquisitions, integrate property records and lease administration within the department.
Incumbent is expected to demonstrate each of the following Company Excellence behaviors in performing the duties and responsibilities of their job:
- Focus: Focus your full attention by carefully listening to and observing client or member.
- Connect: Consistently be friendly and approachable. Demonstrate your care.
- Understand: Listen empathetically and ask questions (70%/30% rule).
- Counsel: Recommend solutions based on your member’s needs and objectives.
- Advance: Ensure that member’s expectations were exceeded.
- Verify necessary follow-up actions.
- 10+ years of relevant experience in real estate acquisitions/dispositions and due diligence – preferably office and retail - purchases and ground leases.
- Broad knowledge of current industry trends and developments.
- Significant experience leading projects and organizing resources, including assigned special projects.
- Experience in managing retail and office construction, including site development, design, space planning, etc., from project inception through occupancy.
- Strong leadership and negotiation skills with business and technical groups including ability to share knowledge resolve conflict and build consensus among many stakeholders.
- Ability to read, comprehend, negotiate, edit, finalize and execute legal and other complex real estate documents including consultant contracts.
- Proficiency in reading surveys, conceptual drawings, site plans and architectural, engineering, and construction drawings.
- Ability to participate in expansion and M&A activities with internal stakeholders and external consultants.
- Significant real estate due diligence and transaction management experience.
- Relevant real estate construction experience (retail and office), including land parcel, outparcel and inline development.
- Familiarity with accepted building practices, materials and techniques, common and general code requirements American Disabilities Act (ADA) requirements, mechanical systems and components and permitting processes and requirements.
- Successful track record of leading projects and project teams in a dynamic, fast paced environment.
- Broad knowledge of financial terms and principles, including the ability to conduct financial analysis and prepare budgets and forecasts
- Positive outlook, strong work ethic, and responsiveness to all internal and external stakeholders.
- Comfortable with ambiguity and willing to take well-reasoned steps in new endeavors.
- Business acumen, with excellent analytical and problem-solving skills.
- Ethical and effective handling of sensitive, confidential and proprietary information
EDUCATION & CERTIFICATIONS:
- Bachelor’s degree required, with a concentration in Real Estate, Finance, Accounting or other related field of study. MBA or JD preferred.
- CCIM, CRE, SIOR or similar certifications preferred