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Form of workJob Summary:
This position manages a portfolio of real estate assets as assigned to maximize its long-term value through implementation of policies, procedures, and programs. This position will be the primary real estate partner and liaison with store operations, landlords, third parties and internal Real Estate, Engineering & Construction and Retail Facilities Maintenance departments to realize year over year improvements in cost control, quality, service, and business alignment.
Key Responsibilities:
Reviews and evaluates existing stores within the assigned region for changes in real estate, ancillary and other such agreements affecting operations.
Primary point of contact for internal customers, property owners, landlords and third parties for questions and issues related to the Company’s real estate assets.
Negotiates, prepares and coordinates execution of real estate documents with interested parties that are in the best interest of the Company and in accordance with company guidelines.
Maintains and controls divisional financial budget process (forecast and actual) for Common Area Maintenance (CAM) expenses and reconciliations to control/reduce costs and deliver upon the Company’s business objectives.
Administers ancillary agreements such as Easements, Covenants, Conditions and Restrictions agreements (ECCRs) and subleases that impact the Company’s real estate to ensure obligations are met and to protect the Company’s interests.
Supports store operations initiatives and management through review, analysis and communication of the company’s rights and obligations related to use and operation of its real estate.
With support of other departments in the division, reviews, tracks and manages reimbursement obligations to ensure timely collection.
Coordinates frequently with internal partners, including, Legal, Site Incentives, Excess Property, Engineering & Construction, Property Tax, Capital Asset Accounting, Finance, Public Relations, Retail Facilities Maintenance and Supply Chain to effectively manage the Company’s real estate assets.
Partners with the Property Administration role to maintain the integrity of the Location Management System to ensure information is current and accurate as a business management tool.
Assists developing and implementing recommendations to position the property to achieve the highest value consistent with business objectives.
Performs due diligence for ECCR amendments, estoppel requests and other third-party requests.
Prepares and presents Property Management matters, proposals and projects requiring senior management approval.
Review notices received from regulatory and other authorities for potential impact on the Company’s real estate assets and assists store operations in addressing any issues.
Adheres to departmental operational guidelines and procedures in the management of the Company’s real estate assets.
Required Experience/Education:
- Bachelors Degree in Business Administration, Real Estate, Engineering, Architecture, or Construction
- 5 years experience in managing negotiations of occupancy costs for 100+ sites
5 years experience in commercial Property Management or related experience, preferably with multiple retail and/or big-box sites
Preferred Experience/Education:
Experience managing CAM audits and reconciliations
Certified Property Manager (CPM) or Certified Commercial Investment Member (CCIM) designation
About Lowe's
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 17 million customer transactions a week in the U.S. With total fiscal year 2022 sales of over $97 billion, approximately $92 billion of sales were generated in the U.S., where Lowe's operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.
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Starting rate of pay may vary based on factors including, but not limited to, position offered, location, education, training, and/or experience. For information regarding our benefit programs and eligibility, please visit our benefits page.
Lowe’s is an equal opportunity employer and administers all personnel practices without regard to race, color, religious creed, sex, gender, age, ancestry, national origin, mental or physical disability or medical condition, sexual orientation, gender identity or expression, marital status, military or veteran status, genetic information, or any other category protected under federal, state, or local law.
