Senior Director, Leasing
Blue Rock search has partnered Subway, a leading global QSR Franchisor to identify their next Sr. Director of Leasing. This individual will lead a small, dedicated team that oversees all aspects of the Brand’s leasehold portfolio globally (w/60+% of the footprint in North America) in assisting our franchisee real estate development and lease management process to create maximum value for the restaurant owner while managing risk for both the franchisee and Brand.
Responsibilities include, but are not limited to:
- Manage new lease creation and renewal processes with either broker-led or internal teams.
- Develop and own the real estate strategy for franchisees and the processes within the Brand.
- Apply innovation and forward-thinking to keep the process simple.
- Manage all critical dependencies with other stakeholders.
- Collaborate with and inspire internal and external stakeholders needed to modernize our approach. *Internal: finance, legal, operations, development, etc. *External: small-unit owners, multi-unit owners, institutional investors, brokers, etc.
- Navigate complex leasing scenarios to mitigate risk and/or reposition or enhance the Brand’s position.
- Advise team on lease policy development and application across different stakeholder groups.
- Translate and decipher lease programs with the finance and legal teams for proper accounting and risk mitigation.
- Deliver new restaurant & existing location performance analysis in terms of real estate headwinds and tailwinds.
- Spearhead initiatives to transition leasehold portfolio from head/tail model to franchisee direct lease with step-in rights for the Brand.
- Manage lease impacts for any coordinated restaurant remodeling programs across Finance, Operations and Development.
- Adapt to an ever-changing market landscape. Thinking one step ahead, and willing to test new channels & technologies as retail/consumer behavior evolves.
- Consider real estate market trends, competitive landscape, consumer behavior and trends to conduct quantitative / qualitative analysis and ensure we are incorporating the right real estate strategy into our operational plans.
A typical day might Include:
- Building & maintaining relationships with franchisees, field management teams (BDAs in Subway lingo), vendors, agencies, brokers, and internal teams.
- Analyzing field data from top to bottom performing restaurants from a real estate effectiveness POV, including sales, profits, demographics, location, and competitor data then identifying trends and drawing conclusions.
- Investigating and managing real estate and leasing opportunities for partnership programs with the likes of Wal-Mart, Circle K and others across the globe.
- Developing team members to stretch their thinking to find new ways of creating value through real estate and leasing strategy for our franchisees.
Skill and abilities required:
- Must be a creative analytical thinker and thrive in a fast-paced environment, prioritize, and oversee multiple simultaneous projects, and work well with cross functional teams
- 10+ years of experience in real estate and leasing portfolio management
- 10+ years of experience in leasing within a QSR, retail or a related commercial real estate portfolio
- Track record of managing within a complex franchise environment with 1,000’s of franchisees is a plus
- Ability to simplify complex situations and subjects into easy-to-understand concepts and action items
- Bachelor’s or advanced degree (preferred)
- International experience a plus
- Deep engagement competency and ability to work with multiple, disparate stakeholders to achieve the best outcome that balances both the needs of the franchise community and the franchisor
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