Director of Real Estate & Store Portfolio Management

Overview

AKIRA is an expanding fast‑fashion retailer with 40+ locations and an aggressive plan to grow to 100+ stores over the next several years. We are seeking a Director of Real Estate who will fully own our national store portfolio‑strategy, renewals, site selection, negotiations, analytics, and landlord relationships. This role centralizes work historically divided among ownership and third‑party brokers (Savills) and provides AKIRA with a single accountable leader to manage a large and increasingly complex portfolio.

This is a high‑impact role that directly influences AKIRA's profitability, growth velocity, and long‑term footprint.

Location: Chicago, IL
Job Type: Full‑Time, Onsite
Reports to: COO

• Portfolio Strategy & Planning
  • Build a 3–5 year real estate roadmap for AKIRA as we scale from our current 40+ stores.
  • Analyze regional performance, co‑tenancy trends, demographic shifts, mall traffic, and fashion ZIP heat maps to direct expansion or exits.
  • Develop and maintain a portfolio scorecard using standardized metrics (e.g., occupancy cost %, sales PSF, EBITDA contribution, renewal risk).
  • Present quarterly recommendations to COO and ownership.
• Lease Administration & Renewals
  • Fully manage all lease expirations, options, renewals, rent escalations, and amendment negotiations.
  • Maintain a proactive 24‑month renewal calendar and internal notification system.
  • Perform financial modeling on renewals (rent changes, CAM/NNN impacts, ROI on remodels).
  • Ensure timely execution of all lease documents.
• Market Expansion & Site Selection
  • Identify new markets and high‑potential locations using AKIRA's customer density, mall traffic, demographic match, and fashion ZIP scoring method.
  • Conduct site tours, prepare comparative site matrices, and present recommendations.
  • Partner with brokers (including Savills) to source and vet opportunities.
• Deal Structuring & Negotiation
  • Lead all negotiations with landlords for new stores, renewals, relocations, short‑term pop‑ups, and rent abatements.
  • Secure favorable TI packages, free rent periods, caps on CAM increases, and co‑tenancy protections.
  • Coordinate with legal on lease review, risk identification, and redline management.
  • Compare deals against industry benchmarks to ensure competitiveness.
• Cross‑Functional Execution
  • Work closely with Construction, Finance, Operations, and Store Leadership on openings, remodels, and closures.
  • Partner with Finance to ensure accurate occupancy cost budgeting and forecasting.
  • Provide detailed turnover requirements and timelines to Construction & Ops.
• Vendor & Broker Management
  • Oversee Savills and all other real‑estate partners; set expectations, KPIs, and reporting cadence.
  • Hold brokers accountable to delivering actionable market intel and competitive deal terms.
  • Evaluate whether external brokerage workload should be expanded, replaced, or brought in‑house.
• Store Performance Analytics
  • Build and maintain dashboards on store health:
    • Sales PSF
    • Occupancy costs
    • Year‑1 ramp curves
    • Portfolio profitability clusters
    • Risk of decline (traffic shifts, anchor closures, competitive encroachment)
  • Recommend relocations or closures based on data and financial modeling.
• Executive Communication & Alignment
  • Create succinct, data‑backed decks for ownership, COO, and board‑level review.
  • Provide monthly reporting: renewals, risks, landlord issues, new deals, and market trends.
  • Represent AKIRA professionally with landlords, developers, and national REIT contacts.

• 5+ years in retail real estate, ideally with a multi‑unit specialty retailer (50–200 stores).
• Strong experience managing high‑velocity renewals, lease negotiations, and multi‑market expansion.
• Advanced financial modeling skills (occupancy cost %, NPV of lease, break‑even impact, EBITDA uplift).
• Demonstrated success negotiating rent reductions, TI, abatements, and early termination strategies.
• Competency in reading redlines, coordinating with legal, and managing lease execution processes.
• Strong relationships in the landlord community a plus (e.g., Simon, Brookfield, Macerich, WS, Kimco).
• Highly organized with ability to manage 50+ concurrent timelines and lease events.
• Data‑oriented and comfortable using scoring frameworks, GIS, and demographic tools.

• 0 missed renewals or escalation deadlines.
• 10–15% average improvement in renewal terms vs. legacy deals at similar locations.
• Full real estate roadmap created identifying markets for 40→80 store growth.
• Proactive communication on portfolio risks (anchor closures, declining malls, lease cliffs).
• Reduced reliance on ownership for real estate decision‑making.
• Faster deal cycle times from LOI → executed lease.

• Salary range: $100,000–$140,000 Plus Bonus based on experience
• Medical, dental, vision, life, disability
• 401(k), FSA/HSA, transit benefits
• Generous employee discount