What are the responsibilities and job description for the Real Estate Manager (Southeast) position at Planet Fitness?
Overview
The Manager, Real Estate supports the Vice President of Development Corporate Clubs with site sourcing and site selection for Planet Fitness retail locations. The Manager is regionally assigned to ensure all ICSC events, brokerage networks, REITs, and LLs consider Planet Fitness as the first priority for our required space.
The Real Estate Manager will ensure all ICSC events, brokerage networks, REITs, and Landlords consider Planet Fitness as the first priority for our required space.
Specific Regions this position will cover: SE Florida, Orlando, Atlanta, Charlotte
Responsibilities
• Manages the Real Estate process from selection to lease execution for corporate owned locations within assigned region.
• Sources and qualifies site opportunities by analyzing and validating demographic, zoning, cost, and other pertinent market information within a territory to ensure compliance with Planet Fitness’s criteria as well as the “quality” of the sites.
• Manages and updates market development plans. Travels to required market areas to visually inspect and evaluate proposed sites and existing stores. Maintains awareness of all site & new development opportunities in defined market areas.
• Has a strong understanding of the respective markets; retail trends, patterns, traffic flow, demographics, potential market shifts, and retail closures that could become future opportunities.
• Researches and identifies potential issues and risks associated with each site (Zoning, variance requirements, restrictions etc.) that can impact the deal and communicates recommendations to the internal team.
• Negotiates LOIs and Leases for all new clubs and relocations. Reviews contracts for accurate representation of agreement, timelines, obligations, easements, entitlements, signage rights, earnest money, and costs.
• Completes Site Approval Package for proposed new clubs and relocations and presents to Real Estate Committee.
• Closely interacts with Design & Construction team to ensure correct LOI and Lease language, and new club buildouts and relocations are completed on time and on budget.
• Works with Lease Administration team on Estoppels, and SNDAs and other landlordrelated issues.
• Utilizes GIS system (Tango) for demographic and site analysis.
• Utilizes proforma financial model to ensure deal metrics and returns are met.
• Manages a network of real estate brokers and develops/maintains relationships with landlords and developers.
• Manages and tracks all deals and provides updates to team on a weekly basis.
• Attends regional trade shows and conventions to include ICSC, Retail Live, etc.
• Other duties as requested, directed, or assigned.
Physical Demands• Repetitive motion of wrists, hands, and fingers in activities such as typing, filing, pinching, and grasping.
• Sedentary office work, sitting majority of the time with occasional repetitive standing, bending, and twisting.
• Occasional lifting, pushing, or pulling of objects up to 25lbs.
• No hazardous or significantly unpleasant conditions (typical office environment).
• Average hearing and voice projection abilities to participate in phone/web communications, one-on-one conversations, and large group meetings.
• High visual demand, with ability to view close-up and color documents and spreadsheets, both in print format and on computer screens.
Qualifications
• Bachelor’s Degree (Business Management or Real Estate preferred) and/or 10 years of Commercial Real Estate experience, preferably in retail and/or restaurant development.
• Proven background in real estate site selection and market analysis with a progressive track record in handling complex real estate transactions
• Detailed understanding of Lease and LOI terms as well as financial modeling and financial performance metrics.
• Strong knowledge of the real estate process, building plans and specifications, site plans and LOD, contracts, and other real estate development transactions
• Skilled negotiator
• Demonstrated organization and project management skills
• Self-starter with an ownership mentality and a strong sense of drive and urgency to meet goals
• Strong interpersonal skills
• Excellent stage presence and comfort presenting to large groups of people
• Demonstrated ability to troubleshoot problems, resolve conflicts, and set direction
• Exhibit comfort and ease working in a fast-paced, ever-changing, deadline-driven environment
• Approximately 50% travel within defined area of responsibility
