Position Summary...
The Manager, Real Estate is responsible for determining real estate opportunities and executing, with other team members, the real estate management and development program for renovation and growth of current store portfolio. This individual will enable the optimization of Walmart Canada’s real estate within their region which includes but is not limited to renegotiating lease terms and rates, enforcing landlord maintenance commitments, cross-functionally supporting Format Development on renovation and capital program. The role will also support the strategic optimization of their region with store openings and closures on an as needed basis.
This role will also be the Real Estate department ‘lead’ on one or two cross departmental workstreams such as E-Comm roll-out, fixture warehouse in support of Relays, etc.
What you'll do...
- Manages real estate transactions and deal initiations for assigned geographic area by analyzing data; identifying site selection and asset sale options; conducting site selection and closure or relocation analysis; evaluating the financial impact of projects; providing recommendations on business decisions based on data; and supporting recommendation development on site selection/ closures projects for leadership.
- Manages existing operating portfolio for assigned geographic area by developing and communicating recommendations on improving site appearances and parking/ access issues; negotiating lease amendments with landlords; negotiating subleases, terminations, and purchase options; analyzing use restrictions and approving store uses to contribute to income generation for properties; conducting site visits; participating in contract negotiations with landlords, business partners and third parties; and securing approvals.
- Negotiate a variety of real estate transactions to support Remodel program as well as Omni-channel initiatives to support all renovation and investment program by concluding lease negotiations and be the main lead with Legal and Compliance; ensure all amendments are circulated internally to internal stakeholders (Finance, Facilities, Implementation, Construction, Design) to ensure alignment on capital expenditure and legal obligations;
- Assist Finance team with financial models to support projects business cases, preparing capital expenditure documentation in GRAND system; developing and implementing processes for approval of projects with internal business partners; and analyzing real estate documents to ensure projects are within approval parameters.
- Support Executive Real Estate trips to markets for introduction of sites and existing store projects.
- Independently present real estate negotiations or projects Format Development Strategy Meeting, Canadian Real Estate Committee and International Real Estate Committee Meetings to secure overall project and capital expenditure approvals
- Support Director and on occasion take the lead on new, closures, and relocation projects from inception to approval and support until grand opening to ensuring projects are proceeding as scheduled and on budget, by working with resources, including Real Estate Specialist, Senior Development Managers, Legal, Compliance, Brokers, Consultants, Developers and JV Partners.
Qualifications:
- Experience in Canadian Retail/Commercial Real Estate
- Strong Real Estate Finance background IRR, NPV, DCF – (ideally P&L & Balance Sheet as well)
- Excellent negotiation and communication skills
- Results driven with strong problem solving skills
- Strong team building and interpersonal skills
- Extensive network of existing developers / landowners
- Experience in Real Estate development application, and Planning
Minimum Qualifications...
Outlined below are the required minimum qualifications for this position. If none are listed, there are no minimum qualifications.
Age – 16 or older
Preferred Qualifications...
Outlined below are the optional preferred qualifications for this position. If none are listed, there are no preferred qualifications.
Walmart will accommodate the disability-related needs of applicants and associates as required by law.
Primary Location…
1940 Argentia Rd, Mississauga, ON L5N 1P9, Canada
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