Vice President of Development

VICE PRESIDENT, DEVELOPMENT

Overview

Hyde Development, a family-owned commercial real estate developer based in Minneapolis MN, has garnered positive acclaim for its work across the United States, particularly in Minnesota and Colorado. Co-founded by Paul and Mac Hyde in 2012, the company focuses on developing, acquiring, and operating industrial real estate in the Midwest and Mountain states. Hyde’s projects span over 8 million square feet and are noted for their innovative, sustainable approaches.

The Vice President of Development position plays a vital role in the company as Hyde seeks to grow its portfolio in both new and existing markets. The Vice President of Development will be responsible for executing new development projects from start to finish, as well as overseeing the acquisition and disposition process when needed. This role offers a unique opportunity to work directly with the CEO to identify and enter new markets, foster strategic partnerships, and drive Hyde’s growth. The ideal candidate will bring expertise in development, acquisitions, financing, and leasing while leveraging their leadership skills to shape Hyde’s expansion strategy, build internal and external collaborations, and enhance the company’s presence in key markets. This role involves up to 75% travel.

Key Responsibilities

Acquisition: Identify and Close on Development Sites

• Partner with the CEO to identify new markets and assess opportunities for strategic expansion.
• Develop a deep understanding of “Hyde” type development site criteria.
• Work with brokers to source and evaluate development sites that align with Hyde’s growth strategy.
• Lead negotiations to put properties under contract (LOI, PA) in collaboration with legal teams and sellers.
• Manage the due diligence process to ensure sound investment decisions.
• Coordinate project setup, tracking reports, budgets, schedules, logistics plans, and corporate reporting.
• Conduct research to support all development functions, including market analysis, impact fees, utility costs, and entitlement strategies.

Development: Manage and Execute the Development Process

• Collaborate with the broker team to align developments with market demand and company growth objectives.
• Work with the design and construction team to develop plans that optimize cost, quality, and speed to market.
• Obtain pricing from the construction team for financial modeling and decision-making.
• Serve as the primary developer representative in City Council meetings and approval processes.
• Create and refine development pro formas in collaboration with the Analyst team.
• Manage loan closings and construction loan draws.
• Represent Hyde’s values and strategic objectives in all development projects.
• Attend weekly GC construction meetings as the Owner’s Representative, ensuring alignment with project goals.

Leasing: New Development

• Partner with the CEO to shape collaboration with external brokerage teams and internal stakeholders to enhance leasing strategy.
• Select and onboard high-caliber brokers who align with Hyde’s culture and values.
• Negotiate and execute new development Listing Agreements to maximize leasing success.
• Integrate leasing assumptions into project design and pro forma modeling.
• Drive leasing processes to meet or exceed financial and operational targets.
• Demonstrate creativity, transparency, and flexibility in dealmaking, ensuring a win-win approach.
• Navigate and manage change effectively in dynamic market conditions.

Financing: Ensure Financially Successful Projects

• Work closely with the CEO and financial partners to develop capital strategies for new market entry.
• Collaborate with Analysts to integrate land pricing, leasing assumptions, construction costs, and financial drivers into project pro formas.
• Engage with capital markets brokers and debt brokers to secure financing for strategic initiatives.
• Negotiate term sheets for both debt and equity financing.
• Lead successful project financing closures, ensuring all contingencies are met.
• Manage change orders, draw requests, and financial reporting.
• Foster long-term relationships with financing partners who align with Hyde’s strategic growth goals.

Industry Engagement: Build and Maintain Relationships

• Work alongside the CEO to enhance Hyde’s industry presence through strategic networking and thought leadership.
• Attend and represent Hyde at industry events, ensuring strong visibility in target markets.
• Develop and maintain relationships with the brokerage community to facilitate future opportunities.
• Serve as a Hyde representative on industry panels and speaking engagements.
• Proactively schedule and attend networking meetings with key stakeholders.

Qualifications

• Bachelor’s degree required, preferably in a finance or real estate related discipline.
• Minimum 10 years of relevant development experience in the commercial real estate field.
• Ability to excel in high-pressure situations.
• Ability to form meaningful relationships with contractors, vendors, brokers stakeholders, and City officials.
• Understanding of the real estate development process and each party’s role.
• Ownership of the project and its outcomes, both financial and non-financial outcomes.
• Long term vision and a focus on what is best for the company, tenants, partners and the community.

Characteristics

Trust Building

• Establishes trust with clients, partners, and team members through transparent communication and reliable execution.
• Maintains confidentiality when handling sensitive business information.
• Acts with integrity, adhering to ethical standards in all interactions.

Humility

• Acknowledges the expertise of others and seeks opportunities for collaborative problem-solving.
• Values feedback and demonstrates a willingness to learn from experiences.
• Leads with humility, putting the needs of the team and organization above personal recognition.

Relationship Development

• Cultivates strong relationships with clients, tenants, investors, and stakeholders within the industrial real estate sector.
• Listens attentively to understand the unique needs and preferences of each party involved.
• Collaborates effectively with internal teams and external partners to drive successful outcomes.

Excellence

• Sets high standards for property management, leasing, and development activities.
• Pays meticulous attention to detail to ensure the quality and safety of industrial real estate assets.
• Pursues innovative solutions to optimize property performance and enhance tenant satisfaction.

Expertise

• Demonstrates deep knowledge of industrial real estate market trends, regulations, and best practices.
• Stays informed about emerging technologies and industry advancements to remain competitive.
• Shares expertise with colleagues and mentors junior team members to foster professional growth.

Discernment

• Exercises sound judgment in evaluating investment opportunities and assessing property risks.
• Identifies strategic growth opportunities aligned with the organization's long-term objectives.
• Anticipates market fluctuations and adapts business strategies accordingly to mitigate potential challenges.

Respect

• Treats all stakeholders with respect and professionalism, regardless of background or status.
• Promotes diversity and inclusivity within the workplace and community.
• Upholds fair and equitable practices in all business dealings.

Success Orientation

• Sets ambitious goals for property acquisition, leasing, and revenue generation.
• Monitors key performance indicators and adjusts strategies to optimize outcomes.
• Celebrates achievements and milestones, fostering a culture of recognition and motivation.

Hard Working

• Demonstrates a strong work ethic and dedication to achieving business objectives.
• Takes initiative to overcome obstacles and deliver results under tight deadlines.
• Goes above and beyond to exceed client expectations and drive organizational success.

Community Engagement

• Actively participates in industry associations, networking events, and community outreach programs.
• Represents the organization as a responsible corporate citizen, contributing to local economic development initiatives.
• Demonstrates a commitment to environmental sustainability and social responsibility in industrial real estate practices.