______________________________________________________________________________________________________ Title: Director of Real EstateJob Code: Supervisory Code: (Y or N) Job Type: Full Time Business Unit: Corporate Services Department: Real Estate Reports To: VP, Real Estate ___________________________________________________________________________________________________________________
Overview: The Director of Real Estate will be charged with executing the Real Estate strategy of Macy’s Inc. across a specific region of the country. The Director will take a leadership role in establishing and executing a “real estate-centric” strategic plan for Macy’s portfolio of assets. The goal of all efforts will be to maximize and monetize the value of Macy’s real estate portfolio while preserving the flexibility for the operating retail business through development/redevelopment initiatives and large scale joint ventures. There will be a broad range of deals to work on including, new stores, lease renewals/renegotiations, disposition of closed stores, shopping center redevelopments, outparcel leasing, and a variety of real estate responsibilities on non-store assets. The Director will need to have the interpersonal and communication skills to lead projects through our internal partners in construction, research, legal and finance. He/she will manage external relationships with the development community and be responsible for negotiating deal terms and maintaining proper documentation in collaboration with our legal partners.
•Responsibility for management and development of Macy’s Real Estate Assets, including negotiations for new store transactions, dispositions, proposed redevelopments and store leases. •Work with Senior Vice President and Vice President to determine value of individual assets and analyze the potential for development and redevelopment, conceptualizing the highest and best use for the assets and assessing the physical feasibility of such re-use as well as the cost of redevelopment versus asset sale •Demonstrate capacity to evaluate real estate investments on a financial proforma basis. •Oversee relationships with multiple partners. Establish working groups on select projects, move projects forward and quickly address challenges. •Develop and maintain relationships with key real estate owners, developers, brokers, bankers and consultants. •Assist in the negotiation and administration of a wide range of real estate legal documentation including Operating Agreements, Purchase and Sale Agreements and Leases. •Develop and implement Asset Utilization strategies. •Coordinate property management activities with Macy’s Stores Organization.
Education/Experience •Bachelor's degree in Business Administration •MBA or JD preferred •Minimum of 7 - 10 years of retail real estate experience
Language Skills •Ability to read, write, and interpret instructional documents such as reports and procedure manuals. Excellent written and verbal communication skills.
Mathematical Skills •Basic math functions such as addition, subtraction, multiplication, and division.
Reasoning Ability •Must be able to work independently with minimal supervision.
Physical Demands •This position requires regular walking, standing, hearing, and talking. May occasionally be required to stoop, kneel, or crouch. Vision abilities include close vision, color vision, depth perception, and ability to adjust focus.
Other Skills •Strong knowledge of and work experience with department store or "big box" retailing in shopping malls or lifestyle centers. •Strong knowledge of negotiation strategy and standard forms of anchor transactions. •Excellent oral and written communication skills. Work Hours•Ability to work a flexible schedule based on department and store/company needs. Travel up to 50% of the workweek.
___________________________________________________________________________________________________________ This job description is not all inclusive. In addition, Macy's, Inc. reserves the right to amend this job description at any time. Macy’s, Inc. is an Equal Opportunity Employer, committed to a diverse and inclusive work environment. Updated Date: