Director, Development

Senior Director of Development Transactions

Location:

San Diego (Del Mar Heights) headquarters. Monday through Thursday in‑office, remote on Friday.

• Identify development and redevelopment opportunities, including pad leasing, outparcel build‑to‑suit, asset repurposing, big‑box demising, and other projects with tenants, brokers, developers, and vendors.
• Draft, review, and prepare Letters of Intent and other transaction documents.
• Coordinate day‑to‑day execution of potential investment‑related transactions, including confidentiality agreements and non‑disclosure agreements.
• Analyze, delegate, and review transaction structures, economics, and property underwriting, including market evaluation, store‑level performance, tenant analysis, and CC&R/REA analysis.
• Manage transaction process and information flow between internal groups (Research, Legal, Accounting, Investment Committee) and external partners (brokers, developers, tenants/clients).
• Prepare, review, and manage Investment Committee materials and transaction summaries, and present proposed transactions to leadership.
• Communicate with tenants/clients and developers to negotiate lease amendments, term sheets, profit sharing, and reciprocal easements.
• Review proposed development budgets and valuation analyses for development projects as part of deal sourcing and validation.
• Engage in proactive discussions with brokers and developers regarding incremental value‑creation opportunities within the portfolio.
• Review plans and budgets for building layout and negotiate appropriate fees based on the opportunity type.
• Participate in site visits and meetings related to development projects with tenants/clients, developers, and outside brokers.
• Research and track new redevelopment and business development opportunities, maintaining coverage of potential sellers and market contacts.
• Establish protocol and standards for project handoff at transaction completion to the Development Operations team, ensuring critical actions are completed.
• Oversee project tracking, quarterly reporting, and development spend forecasting; establish financial reporting processes to meet department deadlines.
• Complete special projects and duties as assigned.

• Bachelor’s degree from a four‑year college or university with a finance or real estate background, or equivalent work experience.
• Minimum 10+ years of experience in commercial real estate, specifically retail and/or industrial transactions and/or development.
• In‑depth understanding of budgeting, cash flows, and financial analysis for real estate development projects.
• Proficient in MS Office Suite.
• Self‑starter with the ability to source and close deals across all transaction stages.
• Strong written, verbal, and negotiation skills, capable of communicating complex issues to leadership, tenants/clients, developers, and brokers.
• Skilled in analyzing complex matters, assessing risk, and recommending practical solutions.
• Creative, resourceful, and strategic problem solver with strong attention to detail and accuracy.
• Ability to manage multiple priorities, adapt to changing assignments, work under pressure, and meet deadlines.
• Comfortable taking initiative and leading through ambiguity with limited direction.
• Able to read, analyze, and interpret routine to complex legal and business documents.
• Professional, collaborative, and effective at building strong working relationships.
• Additional preferred qualifications: MBA or MS in a related field; CA Department of Real Estate Salesperson or Broker license.

• Pay range: $123,251 – $156,389 – $189,099.
• Annual discretionary bonus and stock award may be offered.
• Best‑in‑class benefits package including healthcare, dental, and vision insurance for employees and eligible dependents.
• 401(k) retirement plan with a company match of 50% up to 6% of eligible compensation.
• Generous PTO accrual, 12 paid holidays, and paid volunteer time.

This role is subject to enhanced compliance and disclosure requirements comparable with those of a regulated financial services organization, including conflict of interest disclosures and personal trading policies.

Realty Income is an Equal Opportunity Employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.

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