New York City, NY
Taco Bell Corp., a subsidiary of Yum! Brands, Inc. (NYSE: YUM), is the nation’s leading Mexican-inspired quick service restaurant (QSR) brand. From breakfast to late night, Taco Bell serves made-to-order and customizable tacos and burritos, among other craveable choices, and is the first QSR restaurant to offer American Vegetarian Association (AVA)-certified menu items. Taco Bell and its more than 350 franchise organizations proudly serve over 42 million customers each week through nearly 7,000 restaurants across the nation, as well as through its mobile, desktop and delivery ordering services.
Overseas, Taco Bell has over 400 restaurants, with plans to add 2,000 more restaurants internationally within the next decade. The brand encourages its fans to “Live Más” and connects with them through sports, gaming and new music via its Feed The Beat® music program. Taco Bell also provides education opportunities and serves the community through its nonprofit organization, the Taco Bell® Foundation™, and connects fans with their passions through programs such as the Live Más Scholarship program. In 2016, Taco Bell was named as one of Fast Company’s Top 10 Most Innovative Companies in the World.
About the Job:
As the Real Estate Manager, you will report directly to the National Director of Development and partner with the Operations leadership team (Division Leaders, Company Operations Leaders and Area Coaches) to leverage the best sites at a competitive business advantage. The position also closely partners with the Construction Managers (CM) and site consultants to ensure the successful timing of the opening of the restaurant.
The Real Estate Manager is charged with building the overall pipeline for Taco Bell. This position requires the exercise of discretion and independent judgement in the performance of the various duties. In this role you will:
Deliver a robust pipeline of deals which allow for properly paced and sequenced openings
Consistently apply strategic imperatives in site selection and development and thoroughly research all deal and site components vs. success criteria
Secure quality sites within desired trade areas that meet/beat fair market value
Schedule regular field visits to completely understand trade area and site alternatives
Schedule and lead timely and thorough site rides with Director of Development and Operations partners
Negotiate and prepare quality deals and submittal packages which are submitted per target approval dates
Provide project management leadership and discipline to the approval process
Develop complete comprehension of financial model imperatives
Participates on weekly project management calls with CMs and consultants to move projects forward
Serve as point person to quickly resolve open issues with landlords and/or developers
Monitor the ongoing progression of construction projects to obtain key learning for future deals
Provide timely and complete support as requested for Change of Scope/Cost Overrun (COS/COR) submittals.
Monitor performance of restaurant openings to obtain key learning’s
Provide real estate management service to Franchise for all executed TDS (Taco Bell Development Services) projects
Provide functional leadership and customer responsiveness to Ops partners on all real estate related matters
Extensive use of the “How We work Together2” principles in all aspects of our daily business
Demonstrate DMA (Designated Market Area) knowledge and thought leadership for Market Planning in their DMA’s
Is This You?
- 5 to 7 years Quick Service Restaurant or chain retail development experience in a multi-site, field-based organization (e.g. retail, hospitality or restaurant).
- Master of Business degree a plus but not required
- Must have broad strategic and analytical skills
- Must possess very strong interpersonal, communication, influence and negotiation skills
- Proven ability to handle challenges in a fast pace field-based environment with complex and multiple tasks and deadlines
- Ability to deal with Real Estate community (brokers, attorneys, city officials and general contractors) a must
Why Taco Bell?
We truly believe that where you work matters, and we know a thing or two about what makes employees happy. Join us on our mission of feeding people’s lives with más!
- Year round half-day Fridays
- Free snacks, drinks and bagel & donut Fridays
- Onsite childcare through Bright Horizons
- Onsite dining center and game room (yes, there is a Taco Bell inside the building)
- Onsite dry cleaning, laundry services, carwash, salon services
- Onsite gym with fitness classes and personal trainer sessions
- 4 weeks of vacation per year plus holidays and time off for volunteering
- Tuition reimbursement and education benefits
- Discounts for life’s adventures (ex: theme parks, wireless plans, etc.)
- Generous parental leave for all new parents and adoption assistance program
- Opportunity to taste test new products
- 401(k) with a 6% matching contribution from Yum! Brands with immediate vesting
- Comprehensive medical and dental including prescription drug benefits and 100% preventive care
- Healthcare and dependent care flexible spending accounts
- Opportunities to support the Taco Bell Foundation’s educational initiatives and programs.
- Recognition based culture and unique, fun events year round (recess at work, Halloween Spooktacular, employee art show benefiting Taco Bell Foundation, etc.)