Summary of Job Scope and Expectations:
The Senior Real Estate Manager is responsible for analysis and recommendation of potential real estate development projects to Cherng Family Trust's Real Estate Site Acquisition Committee (RESAC). This position works with Panda Express Real Estate Managers and local brokers to identify and get approval for new development opportunities. The Real Estate Manager will build a network of national/regional tenants and local brokers to lease CFT properties. The Cherng Family Trust (CFT) is a privately-held real estate development and investment firm. CFT is actively engaged in the acquisition, development, construction, leasing, and management of real estate properties within major metropolitan markets in the United States. CFT's portfolio is currently comprised of over 800 commercial properties from coast to coast. . Essential Functions: The essential functions in this job description are not all-inclusive of this job's duties and responsibilities. Reliable and dependable attendance is required.
Descriptions • Recommends potential real estate development projects to CFT's Real Estate Site Acquisition Committee. Works with Panda Real Estate Managers, Design Managers, construction team, and local brokers to identify, design and get approvals for new developments in Pre RESAC and RESAC. (20%) • Builds a network with national/regional tenants and works with local brokers to lease up CFT properties. (10%) • Understands land cost, construction cost and rental income in multiple markets in order to prepare pro-forma and develop recommendations for CFT developments. (10%) • Independently negotiates purchase and lease LOIs, leases, and lease renewals and works with Real Estate Attorney to resolve conflicts. Independently negotiates lease assignments, lease restructures, rent reductions, and buy-outs. Reviews potential tenant credit, business plan, and business financials. Reviews potential tenant credit, business plan, and business financials. (10%) • Works closely with construction team to develop project timelines and coordinate space turnover to tenants. (10%) • Works closely with consultants, architects, and local municipalities to gain entitlement for CFT developments. (10%) • Works closely with property management team to monitor delinquent tenants and recommend plans of action. (5%) • Negotiates subleases and lease terminations on behalf of Panda Express for under-performing stores. (5%) • Develops and coaches the Leasing Associate and/or the Associate Real Estate Manager and elevates performance to support CFT's strategies. (15%) • Attends ICSC Conferences and other related real estate conferences and events. Attends and speaks at city hearings to support CFT developments as necessary. (5%)
• Bachelor's degree in Real Estate or Business or related field required; advanced degree (MBA) preferred • Minimum five years of real estate-related experience with increasing management responsibility, preferably in the retail/hospitality environment • Successful completion of annual store training
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