What are the responsibilities and job description for the Director of Development (Commercial Real Estate Ground-up Development) position at Phillips Edison & Company?
The Director of Development will source and direct all activities necessary to expedite and complete all ground-up developments. These developments are expected to include, but may not be limited to, single tenant buildings, multi-tenant outparcel buildings, and potentially an entire shopping center and/or mixed-use development.
Essential Duties and Responsibilities:
Essential Duties and Responsibilities:
- Provide technical leadership and strategic execution for all ground-up development opportunities
- Collect, analyze, and report on real estate, building and development trends and issues
- Assist VP Development in preparing development reports and updates for the executive team
- Coordinate developments with PECO departments including leasing, construction, finance, and legal.
- Build and maintain relationships with 3rd party Consultants, Attorneys and General Contractors.
- Act as the “owner” of the development process, coordinating all activities related to the entire life cycle of each development, including:
- Create conceptual site plans for pursuit sites (engaging 3rd party consultants as necessary), with feedback from leasing and portfolio management
- Work with portfolio management and leasing to refine site plans
- Create cost estimate for execution of site plan
- Engage leasing team to develop rent and tenant improvement assumptions for site plan
- With finance and portfolio management, create proforma budget using the leasing and cost assumptions developed
- Develop conceptual delivery schedule
- Set up and maintain project files (including proforma, design documents, schedules, contracts)
- Identify and summarize local zoning/municipal approval process(es) and budget required for each milestone.
- Facilitate utility feasibility and budget impact.
- Develop Marketing materials with Consulting Team.
- Lead initial feasibility review (engaging legal and portfolio management teams)
- Work with leasing team on all LOI’s and Leases, providing guidance on work letter, and ensuring economics are in line with budget assumptions
- Select and engage consultants to create budget level design package
- Identify and track outside General Contractor pricing updates
- With finance and portfolio management, refine pursuit level budget
- Begin entitlement process on a case-by-case basis
- Communicate regularly throughout the process
- Progress design and construction drawings
- Prepare bid package
- Take entitlements through the issuance of building permits.
- Own the construction process, including timeline and budget, making regular construction site visits
- Work with leasing team on all LOI’s and Leases, providing guidance on work letter, and ensuring economics are in line with budget assumptions
- Oversee Project Manager(s) executing on tenant buildout and handoff process
- Must be able to travel up to 25-50% of the work week.
- Bachelor’s degree from an accredited institution in Business, Real Estate, Finance, or Construction Management strongly preferred. An MBA degree is a benefit.
- Minimum 10 years of progressively responsible experience in retail real estate project development, asset management and/ or financial analysis.
- A strong working knowledge of the retail development process, with specific expertise in grocery anchored neighborhood and community shopping center projects.
- Ideal candidate has strong understanding of the conceptual budgeting, scheduling and process as they relate to grocery anchored development projects.
- Candidate will have the ability to manage several medium and large ground-up development projects and major re-development projects simultaneously.
- Excellent verbal and written communication skills, professional manner and computer literacy (MS Office required, Argus strongly preferred).
- Highly organized with strong analytical skills and industry network.
