Director of Real Estate Development

1 week ago

Austin, United States Torchy's Tacos Full time

Director of Real Estate Development
The Torchy's legacy began in Austin, Texas in 2006 with an idea, a dedicated executive chef, and a food trailer, now operating in more than 115 locations across multiple states. OUR MISSION: Be Damn Good. OUR VISION: Serve people the Best Damn Tacos. OUR WHY: Passion. OUR MOTTO: Devil is in the details.


Here’s what we need:
The Director of Real Estate Development is responsible for leading and driving the strategic growth and development of Torchy's Tacos' real estate portfolio. This high-impact role ensures the successful identification, acquisition, and development of new restaurant locations that meet organizational goals for sales and traffic. This role reports directly to the VP of Development and serves as a thought-leader in our company growth strategy.


What you’ll be doing:

• Strategic Site Selection and Development: Lead the strategic site selection process to ensure new sites meet organizational expectations for sales and traffic. Perform detailed market analysis, site visits, and high-stakes negotiations with property owners and developers.
• Market and Competitive Analysis: Maintain a comprehensive understanding of all current and future markets, including monitoring existing real estate values, competitor expansion patterns, and demographic trends to inform strategic decisions and ensure site selection supports high performance.
• Financial Analysis and Proposal Development: In partnership with the Finance team, develop sophisticated analyses to evaluate the viability and strategic value of potential sites. Develop and present detailed site Proposal Packages, including Site Attributes, Analytics Reports, Proforma, and Market Partner Surveys to the Development Approval Committee (DAC) consisting of Senior Leadership and Board Members.
• Pipeline and Calendar Management: Oversee the real estate development calendar and pipeline. Organize, prioritize, and report the inflow of site opportunities to the DAC Committee, ensuring alignment with strategic objectives.
• High-Level Negotiation: Lead negotiations for Letters of Intent (LOI) and contract terms, working closely with Legal Counsel to finalize lease terms and monitor lease movement.
• Broker and Developer Network Management: Manage the Real Estate Broker and Master Broker networks across the country, ensuring close alignment with Torchy’s development strategy. Cultivate and manage relationships with key Local and National Developers and Landlords through network events such as ICSC and other market events and visits.
• Cross-Functional Collaboration: Coordinate with all departments to communicate site delivery schedules, opening timelines, and deal pipeline updates. Ensure seamless integration of new locations into the company's operations.
• Lease Management: Oversee the management of the existing lease database and all lease renewals. Make and present timely lease renewal recommendations based on store performance and physical trade zone changes and constraints.
• Team Leadership: You will provide leadership to members of the real estate development team – providing mentorship, guidance, and support to ensure alignment with the company’s strategic goals.
• Strategic Decision Making: Conduct buy versus lease analysis and make strategic recommendations to leadership to optimize the company's real estate portfolio.


How you’ll do it:

• Leadership: You will inspire and guide the real estate development team, providing clear strategic direction and fostering a collaborative environment to achieve high-impact results.
• Communication: You will effectively communicate complex information and strategic plans to stakeholders at all levels, ensuring alignment and understanding across departments.
• Negotiation: You will leverage your strong negotiation skills to secure favorable terms in high-stakes deals, building and maintaining key relationships with brokers, developers, and landlords.
• Analytical Thinking: You will apply your analytical skills to interpret market data, financial analyses, and performance forecasts, making data-driven decisions that align with the company’s strategic goals.
• Problem-Solving: You will demonstrate agility and creativity in addressing challenges that arise during site selection and development, finding innovative solutions to drive success in a dynamic environment.


QUE-SO…here’s what you’ll need:

Minimum Qualifications:

• Bachelor’s degree in Real Estate, Business Administration, or related field OR equivalent work experience
• 10+ years’ experience in the Real Estate industry, including analysis, development, and marketing of commercial land and real estate project management, preferably within the restaurant industry.
• Valid driver’s license required
• Proven experience in a leadership/mentorship role.
• Excellent verbal and written communication skills, presentation skills, and strong
persuasion skills.
• Strong computer proficiency; Excellent in MS Office applications.
• Ability to travel 50-60% of the year.
• Strong attention to detail and good time management.
• Strong understanding of Construction Work Letter requirements and construction process and timelines.


Physical Requirements:

• Ability to conduct site visits and walk properties.


Travel:
• Travels 50-60% of the time.


Work Location:
• Hybrid role with a combination of in-office and remote work, and significant travel for site
visits and meetings

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