Director Real Estate Portfolio Management

The pay range is $135,000.00 - $243,000.00

Pay is based on several factors which vary based on position. These include labor markets and in some instances may include education, work experience and certifications. In addition to your pay, Target cares about and invests in you as a team member, so that you can take care of yourself and your family. Target offers eligible team members and their dependents comprehensive health benefits and programs, which may include medical, vision, dental, life insurance and more, to help you and your family take care of your whole selves. Other benefits for eligible team members include 401(k), employee discount, short term disability, long term disability, paid sick leave, paid national holidays, and paid vacation. Find competitive benefits from financial and education to well-being and beyond at https://corporate.target.com/careers/benefits.

About us:

Working at Target means helping all families discover the joy of everyday life. We bring that vision to life through our values and culture. Learn more about Target here.

A role in Real Estate means the opportunity to develop and drive Target's market-based growth strategies by identifying, acquiring and developing extraordinary guest-facing properties. You'll use your negotiation skills to execute competitive and risk-balanced transactions. You'll be a key player on the team that manages the lifecycle of our stores, site selection of new properties, the scope of remodels and existing property portfolio negotiations and property disposition.

Foundationally, the Director, Real Estate Portfolio Management (RPM) develops and implements strategy for Target Corporation's existing store real estate portfolio which maintains or enhances the value, integrity, flexibility and viability of the company's real estate assets. This work includes cooperation with internal and external partners to prioritize investments across remodels, new stores, and other potential uses of capital.

The Director, RPM will hire, develop and retain a highly qualified negotiation team in RPM to support organizational goals, as well as be responsible for overseeing and executing responses to internal and external requests relating to existing real estate issues, including participating in and at times managing portfolio initiatives.

Furthermore, the Director RPM will:

• Direct the negotiation of all pertinent real estate legal documents governing existing stores including implementation and coordination of activities necessary to enhance the company's rights, obligations, approvals and entitlements relating to modification of shopping center developments.
• Hire, develop and retain a RPM negotiation team consisting of RPM Negotiators and Analyst(s) to deliver measurable value and consistently operate in an active and strategic manner regarding real estate matters, including creation and direction of training programs to enhance staff knowledge and professional development.
• Build a culture of accountability, agility, enterprise before individual or team mindset, and creative solutioning
• Establish, develop and maintain cooperative working relationships with shopping center developers, landlords and real estate counterparts in other retail companies.
• Develop geographic regional expertise, including site and market knowledge, demographic changes, synergistic co-tenancy and competition activity to create value across our portfolio through expansions, relocations, remodels, closures, sales of excess property, and improved guest experience at our sites.
• Direct the work of external consultants, engineers and legal counsel to ensure performance benchmarks and brand standards are met or exceeded.
• Serve as business decision maker for litigation counsel for private actions and public takings affecting the company's real estate portfolio.
• Develop strategy and lead process for city assessments or takings through condemnation or eminent domain proceedings.
• Provide direction regarding analysis of developer requests, balancing business objectives against business risks to create strategic opportunities for leverage in unrelated negotiations including identifying store expansion opportunities and/or existing restrictions.
• Provide oversight and direction on the negotiation of terms and conditions affecting retail locations for the purchase or extension of leased locations.
• Manage the seamless integration of new stores into the existing store portfolio.
• Build productive and trusting relationships with internal partners (including Property Management, Legal, Store Design, Construction Project Management, Product, Data, Store Operations, Finance, Government Affairs, etc.).
• Develop strategy for Developer/Landlord led real estate initiatives, to enable negotiation team to exercise influence and provide oversight over these external entities which ensures brand standards are met or exceeded
• Forge partnerships with internal departments (including Strategy & Operations, Finance, Property Management, Legal, Store Design, Construction Project Management, etc.) and represent Real Estate on evaluation and resolution of factors impacting existing stores, including investment prioritization and allocation, remodels, order pick-up, drive-up, and other current and future strategies.
• Ensure integrity of real estate records and information entered into numerous databases to facilitate the timely follow-up on critical dates, the generation of up-to-date internal reports, and produce a reliable source of information from which senior leadership may base corporate planning and strategy, and the establishment and improvement of processes which govern these records, information, and reporting.

About you:

• Four-Year College Degree, JD or MA preferred
• 7-10 years total experience·
• 7 years of Commercial Real Real Estate experience, retail preferred
• Deep Real Estate Law knowledge
• Demonstrated Team Leadership experience
• Professional knowledge and competency with advanced real estate contract principles and terminology
• Proficient in Microsoft Office Suite
• Excellent oral, written, analytical and organizational skills·
• Team player with excellent interpersonal skills who is self-directed, detail-oriented and has strong time management skills

This position will operate as a Hybrid/Flex for Your Day work arrangement based on Target's needs. A Hybrid/Flex for Your Day work arrangement means the team member's core role will need to be performed both onsite at the Target HQ MN location the role is assigned to and virtually, depending upon what your role, team and tasks require for that day. Work duties cannot be performed outside of the country of the primary work location, unless otherwise prescribed by Target. Click here if you are curious to learn more about Minnesota.

Benefits Eligibility

Please paste this url into your preferred browser to learn about benefits eligibility for this role: https://tgt.biz/BenefitsForYou_F

Americans with Disabilities Act (ADA)

In compliance with state and federal laws, Target will make reasonable accommodations for applicants with disabilities. If a reasonable accommodation is needed to participate in the job application or interview process, please reach out to candidate.accommodations@HRHelp.Target.com. Non-accommodation-related requests, such as application follow-ups or technical issues, will not be addressed through this channel.