The Estee Lauder Companies Executive Director, Corporate Real Estate in Melville, New York
Executive Director, Corporate Real Estate
Brand: Estée Lauder Companies Corporate Departments
The Executive Director Real Estate and Construction functions as the central point of control and management for real estate and construction transactions.
The responsibilities of the Executive Director are global and touch all functional departments of the organization that occupy ELC owned and/or leased facilities world-wide inclusive of corporate offices, affiliates’ administrative and field sales offices, manufacturing, distribution and research and development facilities. This role will report to the Head of Global Corporate Real Estate
Working as a partner in the business process, the Executive Director develops cost effective real estate solutions in alignment with the needs of the business including parameters for location, lease vs. own, length of lease term, financial commitment, exit strategies and operating expense budgets all of which influence the scope, timing and cost of strategic business decisions.
In addition, the Executive Director will lead corporate real estate lease administration.
- Corporate Real Estate Portfolio Strategy
o Manage / coordinate a global team of ELC and external real estate professionals responsible for transacting and maintaining ELC’s global corporate real estate portfolio.
o Develop and manage collaborative relationships with ELC Brands, Regions and Functions, to determine real estate requirements and provide information relative to market conditions, anticipated costs, transaction viability and expected timelines
o Co-manage and share accountability for global corporate real estate budget with business owners
o Develop strategies for the management of the financial impact of real estate to minimization real estate expenses and enhance the optimization of operating expenses vs. square feet of facilities occupied.
o Align real estate transactions with ELC strategy, business objectives and desired transactional parameters
o Collaborate with the CRE CoE Lead as well as Brand, Regional, Affiliate and Function executives to develop 1, 3, and 5-year real estate plans
o Implement and maintain global occupancy monitoring
o Maintain and improve real estate portfolio performance with respect to aligning real estate administration and property management with the portfolio strategy and space needs of ELC Brands, Regions and Functions
- Corporate Real Estate Transaction Management
o Responsible for all corporate real estate transactions, globally
o Manage the transaction process end-to-end, including strategy development, project planning, team assembly, overseeing market surveys and tours, coordinating site visits, alternative comparison, developing the negotiating strategy, leading negotiations, document review, approval preparation, signing, and close out reporting
o Manage brokers, coordinate financial analyses, partner with legal resources, and guide documents through the approval process
o Negotiate real estate legal agreements with assistance from real estate service providers, Legal Counsel, and Finance Managers
- Facilities Construction Management
o Direct and manage high priority construction projects from conception to finished facility or structure, interfacing with internal stakeholders and external architects and construction professionals.
o Oversee global portfolio of construction projects to ensure timescales, designs/specifications, quality and costs are achieved within approved parameters
o Ensure compliance with corporate standards and procedures related to design approval and during the delivery process
- Corporate Real Estate Compliance and Approval Process Management
o Create, update and control compliance with CRE Policies and Procedures to ensure compliance
o Ensure compliance with ELC real estate policies, applicable laws and regulations within the CRE portfolio by working with Real Estate Legal Counsel and the Real Estate Compliance Director
- Corporate Lease Maintenance / Administration
o Manage global ELC lease administration teams
o Resolve major occupancy issues with landlord
o Review annual rent and operating expense adjustments for conformance with lease provisions
o Portfolio maintenance and annual 10K Real Estate reporting
o Manage work activities and team responsible for real estate portfolio administration and database management
o Oversee / manage critical dates on leased properties and kick off all projects within 18- 20 months of any critical date
o Identify opportunistic lease extensions, renewals, and terminations for review with Exec Mgmt. and Tenant
o Provide guidance to lease administration team and support and drive the creation and implementation of global lease administration best practices and processes.
o Drive resolution of significant abstraction issues portfolio wide.
Real estate management skills – involving transaction management and property management in a corporate environment (incl. valuation, markets, deal structuring, property management, lease administration, and principles of real estate law)
Real estate financial skills – proficiency in real estate financial analysis, discounted cash flows and analysis of real estate market data. Understanding and working knowledge of real estate investment principles. Understanding of commercial real estate financial principles
Excellent negotiation skills – ability to incorporate key business terms in a lease
Strong people leadership and change management skills required
Global mindset and willingness to travel internationally required
Minimum Education level:Bachelor’s degree in Business Management, Real Estate or related discipline required, Masters/MBA desired
Minimum Years of Experience:10 plus years of professional experience (5 at the executive level) in a real estate transaction management role in a large, corporate environment
% Travel Time: 30%
Licenses or Certifications:Certified Property Manager (CPM), MCR or CCIM designation preferred, Current or past NY real estate license desired
Required Language Proficiency: English
Job: Finance & Accounting
Primary Location: Americas-US-NY-Melville
Job Type: Standard
Shift: 1st (Day) Shift
Travel: Yes, 25 % of the Time
We are an equal opportunity employer. Minorities, women, veterans, and individuals with disabilities are encouraged to apply. Job Number: 170190