Real Estate Manager (CFT)
At Panda, we all share a common mission: "Deliver exceptional Asian dining experiences by building an organization where people are inspired to better their lives." We invest in our people because great people run great operations that will exceed our guests' expectations. Talk to any of our associates and you will experience a culture dedicated to its mission and our five fundamental values- Proactive, Respect/Win-Win, Growth, Great Operations, and Giving.
Panda Restaurant Group includes the original Panda Inn fine dining restaurants, Panda Express, our Gourmet Chinese food concept served in a fast casual environment, and Hibachi San, our Japanese grill concept. The family owned and operated company is still run by founders Andrew and Peggy Cherng.
Panda offers competitive benefits and rewarding opportunities, from entry-level positions to management. We have restaurant positions available nationwide and support center positions in Rosemead, CA. Come join the nation's largest and fastest growing Asian restaurant company.
Summary of Job Scope and Expectations:
The Real Estate Manager is responsible for recommending potential real estate development projects to CFT's Real Estate Site Acquisition Committee. This position builds a network with national/regional tenants and works with Panda Express Real Estate Managers and local brokers to identify development opportunities. The Real Estate Manager determines the market rent for properties tenant mix.
The essential functions in this job description are not all-inclusive of this job's duties and responsibilities. Reliable and dependable attendance is required.
- Recommends potential real estate development projects to CFT's Real Estate Site Acquisition Committee. Works with Panda Express Real Estate Managers and local brokers to identify development opportunities.
- Builds a network with national/regional tenants and works with local brokers to determine the market rent comps and appropriate tenant mix.
- Understands land cost, construction cost and rent income and runs pro-forma as basis for development recommendations.
- Independently negotiates purchase and lease LOIs and leases and lease renewals and works with Real Estate Attorney to resolve conflicts.
- Works closely with construction team to coordinate space turnover to tenants.
- Develops and coaches the Leasing Associate and/or the Associate Real Estate Manager and elevates performance to support CFT's strategies.
- Reviews potential tenant credit, business plan and business financials.
- Works closely with property management team to monitor delinquent tenants and recommend plans of action.
- Independently negotiates lease assignments, lease restructures, rent reductions and buy-outs.
- Negotiates subleases and lease terminations on behalf of Panda Express for underperforming stores.
- Attends ICSC Conferences and other related real estate conferences and events.
- Bachelor's degree in Real Estate or Business or related field required; advanced degree (MBA) preferred
- Minimum five years of finance and real estate-related experience with increasing management responsibility, preferably in the retail/hospitality environment
- Successful completion of annual store training
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