Job Details
Position: Chief Development Officer
Reports to: Chief Executive Officer
Location: On site in Massachusetts-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 C Store, QSR or 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.