Director, Real Estate

Hy-Vee Food Stores • West Des Moines, IA • 8h ago

Additional Considerations (if any):

At Hy-Vee our people are our strength. We promise "a helpful smile in every aisle" and those smiles can only come from a workforce that is fully engaged and committed to supporting our customers and each other.

Job Description:

Job Title: Director, Real Estate

Department: Real Estate

Pay Type: Salary

Revision Date: 02/2026

Job Summary:

The Director, Real Estate is responsible for leading the strategic planning, site selection, acquisition, leasing, and disposition of real estate assets to support the company's growth and operational objectives. This role drives market analysis, negotiates complex real estate transactions, and manages relationships with landlords, developers, brokers, municipalities, and internal stakeholders. The Director ensures that real estate strategies align with long-term financial goals, brand standards, and market expansion plans while maximizing portfolio value and minimizing risk.

Reporting Relationships:

Accountable and Reports to: VP, Store Development, Real Estate

Direct Reports: None

Key Responsibilities:

Develop and execute the company's real estate strategy to support new store growth, relocations, remodels, and portfolio optimization.

Identify, evaluate, and secure new sites through market analysis, demographic research, and competitive assessments.

Lead negotiations for leases, land purchases, renewals, extensions, and dispositions, ensuring favorable financial and operational terms.

Structure and negotiate letters of intent, purchase agreements, lease amendments, and related legal documents in partnership with internal and external counsel.

Manage relationships with brokers, developers, landlords, attorneys, and municipal officials to facilitate successful transactions.

Oversee due diligence activities including site feasibility, zoning, environmental studies, and entitlement processes.

Collaborate with Store Development, Construction, Finance, and Operations teams to align real estate initiatives with company objectives and timelines.

Prepare financial analyses, pro formas, and investment models to evaluate site viability and return on investment.

Monitor market trends, economic conditions, and competitive activity to inform strategic decision-making.

Manage lease administration strategy including renewals, rent escalations, co-tenancy provisions, and critical date tracking.

Support capital planning processes through long-term portfolio planning and forecasting.

Present real estate opportunities and portfolio updates to executive leadership.

Ensure compliance with local, state, and federal regulations related to property acquisition and development.

Identify and mitigate real estate-related risks, including financial, legal, and operational exposures.

Education and Experience:

Bachelor's degree in Real Estate, Business Administration, Finance, or related field required.

Minimum of 8-10 years of progressive experience in commercial real estate, site selection, and lease negotiation, preferably within retail or grocery environments.

Demonstrated experience negotiating complex real estate transactions and managing multi-site portfolios.

Strong financial acumen with experience building pro formas and evaluating investment returns.

Physical Requirements:

Ability to travel frequently to market sites and company locations.Ability to conduct site visits, including walking properties and undeveloped land.Ability to sit for extended periods while working at a computer.

Knowledge, Skills, Abilities and Worker Characteristics:

Excellent written and verbal communication skills required.

Commitment to the Hy-Vee Mission and a willingness to promote the values of the company.

Strong interpersonal skills. An ability to relate to and interact with other people in a friendly, professional manner.

Ability to identify problems, develop and execute solutions.

Working Conditions:This position operates in both office and field environments. Travel is required for site visits, market tours, and meetings with external partners. Work may include evenings or extended hours to support negotiations or project deadlines.

Financial Responsibility:

Responsible for managing significant capital investments related to land acquisition, lease commitments, and portfolio transactions.

Provides financial analysis and recommendations that impact long-term company growth and profitability.

Confidentiality:

Maintains strict confidentiality regarding real estate negotiations, financial data, strategic growth plans, and proprietary company information.

Are you ready to smile, apply today.

Employment is contingent upon the successful completion of a pre employment drug screen.

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