DOLLAR GENERAL

DIRECTOR, LEASE COMPLIANCE & RENEWALS

Requisition ID
2022-252900
Job Location (Posting Location) : Address
100 MISSION RDG
Job Location (Posting Location) : City
GOODLETTSVILLE
Job Location (Posting Location) : State/Province
TN
Job Location (Posting Location) : Postal Code
37072
Category
Real Estate

Company Overview

Dollar General Corporation has been delivering value to shoppers for more than 80 years. Dollar General helps shoppers Save time. Save money. Every day.® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at everyday low prices in convenient neighborhood locations. Dollar General operates more than 18,000 stores in 47 states, and we’re still growing. Learn more about Dollar General at www.dollargeneral.com.

 

General Summary:

The Director ensures compliance by all parties in the discharge of contractual obligations established by real estate leasing contracts. Provides strategic direction for risk/impact of compliance related issues, cost recovery, selection of vendors, negotiation/resolution of disputes involving lease contract interpretation and serves as company representative in depositions involving real estate litigation/arbitration. Oversees the company’s lease portfolio and strategically optimizes a BATAR (best alternative to relocation) on an individual lease and portfolio-wide basis. Protects the performing asset base and maximizes value through short term strategy, program development and execution, and direct negotiations in order to meet company objectives.

Job Details

Lease Compliance for existing store portfolio of stores:

  • Develops policies and procedures to continually improve performance and conform to contractual obligations of individual lease agreements.
  • Directs the activities of the Lease Compliance team and Property Managers to ensure timely landlord compliance of contractual lease obligations, such as building and grounds repairs, co-tenancy compliance, Condemnation proceedings, right-of-way easement requests, etc.
  • Escalates landlord repair issues to emergency self-help status and ensures recovery of expenses as provided by lease contracts.
  • Provides direction and oversight to ensure the accuracy and timely quality of data maintained in the Lease Administration platform (Lucernex).
  • Directs the handling and disposition of requests for exemptions to contractual rights outlined in the lease agreements.
  • Directs the proper handling and disposition of lease defaults to ensure protection and preservation of company assets.
  • Directs the handling, investigation and disposition of claims from parties alleging violation of rights resulting from the operation of our stores.
  • Serves as company representative and/or witness in lease related depositions, litigation, arbitration.
  • Manages activity associated with the company’s surplus property portfolio to include disposition through early termination negotiations or sublease agreements, property maintenance and repairs, and lease retirement obligations at lease expiration.

Lease Renewal activity for existing store portfolio of stores:

  • Leads the effort to coordinate strategic analysis and planning to protect performing lease assets taking into consideration, market forces, competitive pressures, new store cannibalization, budgetary goals and historical leasing trends.
  • Successfully executes and achieves targeted objectives for expiring leases ensuring adequate term, favorable rent-to-sales ratio, compatible use to comply with merchandising objectives, and competitive positioning. 
  • Develops cross-departmental relationships in order to leverage synergies that increase the overall value of the company and the department.
  • Directs and manages the activities of external vendors in targeted initiatives aimed at reducing the company’s occupancy expense and related EBITDA impact.
  • Directs the effort to ensure that resources are appropriately allocated by identifying locations which may restrict remodels and /or product expansions. 

Qualifications

  • Exceptional problem-solving skills (quantitative, analytical, and strategic)
  • Ability to negotiate financial deal points and legal/lease language
  • Strong oral and written communication skills
  • Ability to interact comfortably with senior executives, external professionals, attorneys, and third parties
  • Strong project and team management skills
  • Ability to simultaneously manage multiple projects and priorities
  • Ability to create complex analyses and presentations
  • Exceptional knowledge and understanding of the retail industry, field real estate and operations concepts, practices and procedures.
  • Advanced knowledge and understanding of finance concepts (EBITDA, gross margin, etc) and ability to interpret store financial statements, historical data and market research information. 

Work Experience and/or Education:

Bachelor’s degree required.  Master’s degree in business or finance, or law degree preferred, or equivalent experience.  At least 10 years of experience in retail, with some management experience in lease administration for a Fortune 500 company.  Professional certifications such as CCIM, MCR, CPM, etc. highly desirable.

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