What are the responsibilities and job description for the Real Estate Development Manager position at Drury Development Corporation?
Reporting Relationship: Reports to Director of Real Estate
Summary of Responsibilities:
- Coordinates activities related to the leasing and development of retail, restaurant, and other real estate for a large national real estate portfolio.
- Evaluates and assesses potential real estate acquisitions, dispositions, development, and redevelopment opportunities. Identifies needs for vacant or underperforming properties, prepares marketing materials for each property, and creates a development plan and targeted prospect list for each property.
- Develops and maintains professional relationships with key tenants, buyers, brokers, developers, landlords, attorneys, franchisees, and other real estate professionals on a regular basis.
- Works directly with prospective users/tenants to negotiate terms that support the project.
- Conducts and oversees real estate evaluations including site investigations (surveys, geotechnical, environmental, utilities, traffic studies, etc.), appraisal reports, feasibility studies, market and demographic analysis, and financial analysis including detailed budget and performance proformas.
- Engages government officials, utility companies and/or other major stakeholders for the purpose of acquiring permits, negotiating easements, and attending public meetings.
- Works with internal and external parties to determine and implement agreements necessary to support development and long-term operation of the property (e.g., utility easements, access easements, and other restrictive covenant agreements).
- Oversees procurement of various subcontracts for design, engineering, and construction services for construction projects. Reviews all construction plans and assists with implementation and execution of construction plans.
- Partners with internal management, including the executive Team, Legal, Accounting, Operations, Design, Construction, and assists in the preparation of deal summaries, lease abstracts, financial analyses, and internal Real Estate Committee memos.
- Travel around St. Louis and to Cape Girardeau regularly, with trips out of region as needed.