Director, Asset Management

JOB SUMMARY

The Director, Asset Management provides strategic and operational leadership for the Company's real estate portfolio, including stores, distribution facilities, and excess property. This role is accountable for developing and executing the long-term portfolio strategy, maximizing asset value, reducing occupancy risk, aligning stakeholders and ensuring disciplined management of lease and property obligations. The Director leads and develops the Asset Management team, directs internal and external partners, and presents portfolio recommendations and major transactions to senior management.

Strategic Portfolio Leadership

• Develop, recommend, and execute the Company's long-term real estate portfolio strategy in alignment with enterprise priorities, financial objectives, and operating needs.
• Establish annual and multi-year Asset Management priorities, performance measures, approval protocols, and reporting for the portfolio.
• Use market, financial, lease, and operating data to identify value-creation opportunities, occupancy risks, critical lease events, and recommended actions.
• Lead portfolio reviews and present strategies, major transactions, financial implications, and risk-mitigation recommendations to senior management and approval committees.

Team Leadership and Functional Oversight

• Lead, coach, and develop Asset Management team members, including Asset Manager(s) and Lease Administrators as assigned; set priorities, allocate work, establish accountability, and support succession and capability development.
• Provide direction and approval guidance for negotiations, issue resolution, and transaction execution; serve as the executive escalation point for complex landlord, tenant, and portfolio matters.
• Create consistent processes, controls, tools, and documentation standards that improve portfolio visibility, decision quality, compliance, and execution speed.
• Direct and evaluate third-party service providers, including lease administrators, brokers, attorneys, tax consultants, appraisers, and other real estate advisors.

Transactions and Value Optimization

• Lead and oversee the negotiation of lease renewals, amendments, restructurings, terminations, and other complex business and legal agreements.
• Direct the sale, lease, or sublease of excess property and lead the Company's sale-leaseback program, including evaluation of alternatives, business terms, approvals, and execution.
• Oversee real estate strategy and transactions for distribution facilities and other non-store assets.
• Ensure major portfolio decisions are supported by rigorous financial analysis, scenario planning, market insight, and clearly documented business cases.

Portfolio Administration, Compliance, and Risk Management

• Oversee any third-party lease administration and ensure the accuracy and timeliness of lease abstracts, critical dates, payments, notices, options, reporting, and related controls.
• Direct the management of Company tenants and income-producing leases, including compliance, landlord obligations, receivables, renewals, and issue resolution.
• Oversee the payment, review, appeal, and contest of real estate taxes and coordinate related external advisors.
• Monitor and resolve portfolio risks involving lease compliance, operating expenses, insurance, property obligations, and other occupancy-related matters in partnership with Legal, Finance, Accounting, Operations, Facilities, and Supply Chain.

Cross-Functional and External Leadership

• Lead cross-functional teams of internal and external attorneys, finance professionals, operators, facilities and construction partners, brokers, consultants, and other subject-matter experts and assure alignment across operations and facilitates on decisions impacting portfolio
• Maintain strong relationships with landlords, tenants, brokers, lenders, municipalities, and industry partners; represent the Company at public meetings and industry events.
• Serve as the primary source of portfolio guidance for internal stakeholders and ensure real estate questions and issues are addressed accurately, consistently, and promptly.

• Bachelor's degree required; MBA or J.D. preferred.
• 10+ years of progressively responsible corporate or retail real estate experience, including management of a large, geographically diverse portfolio; big-box retail and shopping center experience preferred.
• Demonstrated success developing portfolio strategy and executing complex lease renewals, restructurings, relocations,…