Description : Real Estate and Lease Contract Specialist. Company : VSP Global. Location : Remote

Responsible for adding new stores to achieve growth plan and financial return goals. Optimize the profitability of the existing fleet for assigned area through occupancy savings, managing to the department occupancy budget. New Store Growth:

• Real Estate Strategy: Travel to metropolitan ‘areas of interest’ as developed by internal analytics to assess market dynamics and competitive landscape and to identify potential opportunities and challenges.

• Site Selection and Pipeline Development: Select sites within the identified ‘areas of interest’ that have the characteristics that lead to successful new locations.

• Deal Negotiation: Negotiate complex letters of intent, addressing both economic terms such as rent, additional landlord charges, rent commencement, space delivery, and renewal options, as well as non-monetary legal clauses including co-tenancy failure, exclusive use, lease assignment, continuous operations, store hours, use clause and non-disturbance agreements. Minimize risk by negotiating early termination clauses for flexibility and maximize future profitability by negotiating multiple renewal options.

• Broker and Landlord Networking: Evaluate, interview, and hire best-in-class brokers, changing out ineffective brokers when necessary. Direct and manage the work of real estate brokers within assigned areas of responsibility for efficient deal-making and positive word of mouth within the industry. Maintain and develop strong relationships with top non-mall landlords to gain first-hand knowledge of space availability and to help ensure partnership when resolving disputes. Responsible for conducting annual portfolio reviews.

• Real Estate Committee (REC): Present new stores, relocations, renewals, and closures applicable to assigned areas. Assemble Real Estate packages and highlight key elements essential for decision-making. Provide a thorough deal overview and conduct a financial review. Initiate conversations with leadership and partners to gain alignment prior to REC.

• Cross-Functional Partnership: Regularly interact with Legal, Store Operations, and Construction to ensure smooth deal flow and resolve Real Estate issues as they arise for new stores and the existing fleet.

Existing Fleet Optimization:

• Market Planning: Evaluate upcoming lease events by analyzing existing lease terms, store performance, trade area dynamics, and competitive landscape. Develop and recommend strategies for each upcoming lease event to maximize profitability and lease flexibility. Lead annual market planning meetings for designated Real Estate territory by delivering recommendations and collaborating with leadership and other partners to establish Real Estate plans and alignment for upcoming lease actions.

• Lease Event Management: Track all upcoming critical dates (lease expirations, option notice dates, termination options), ensuring ample lead time to finalize negotiations prior to critical date expiration. Maximize negotiation leverage by having in-depth knowledge of market dynamics and prevailing rental rate trends. Manage 3rd party leasing company to deliver early on assigned lease events. Review and approve submitted 3rd party deals, ensuring EBITDA and occupancy percentage metrics are in line or below internal and market benchmarks along with appropriate lease control and achievement of non-economic standards. Handle negotiations directly with landlords in cases when direct communication is more effective.

• Relocations: Utilize relocations in accordance with the market planning process to reposition the fleet as trade area and shopping center quality changes over time. In some renewal cases, relocation opportunities are to compare to existing occupancy costs, which may be acted upon or used as leverage. Ensure attractive returns on relocations.

• Closures: Partner with Finance and leadership to help determine close locations that are incrementally not profitable and have no reasonable path toward profitability. Process closures in a timely manner.

Job Specifications T ypically has the following skills or abilities: Bachelor’s Degree in a related field or equivalent experience Minimum ten years of experience in retail leasing or development Proficient in Microsoft Word, Excel, and PowerPoint and experience with project management software Knowledge of retail leasing language/lease terms and capable of negotiating lease business terms (percentage rent basis, exclusive use, radius restrictions, etc.) Requires up to 50% travel Experienced with store life cycle concepts and systems Experienced negotiator with both large developers and individual landlords #LI-REMOTE #LI-VISIONCARE Compensation range for the role is listed below. Applicable salary ranges may differ across markets. Actual pay will be determined based on experience and other job-related factors permitted by law. As a part of the compensation package, this role may include eligible bonuses, equity and commissions. For more information regarding VSP Vision benefits, please click here . Salary Ranges: $100,000.00 - $157,500.00 VSP Vision is an equal opportunity employer and gives consideration for employment to qualified applicants without regard to age, gender, race, color, religion, sex, national origin, gender identity, sexual orientation, disability or protected veteran status. We maintain a drug-free workplace and perform pre-employment substance abuse testing. Notice to Candidates: Fraud Alert - Fake Job Opportunity Solicitations Used to Collect Fees/Personal Information.
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