Senior Real Estate Manager
LOCATIONS: Remote, United States
Taco Bell is instituting a COVID-19 vaccination mandate for health and safety reasons. Effective January 3, 2022, Taco Bell requires that corporate employees are fully vaccinated against COVID-19 as a condition of employment, subject to reasonable accommodation as required by law.
Who is Taco Bell?
Taco Bell Corp., a subsidiary of Yum! Brands, Inc. (NYSE: YUM), is the world’s largest Mexican-inspired quick service restaurant (QSR) brand. From breakfast to late night, Taco Bell serves customizable tacos,burritosand quesadillas, among othercraveablechoices like theCrunchwrapSupreme®and Nacho Fries. Taco Bell offersa wide variety ofplant-based menu itemsand was the first QSR brand 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 over 7,000 restaurants, as well as through its mobileanddesktoptouchpointsandviadelivery ordering services. Internationally, Taco Bell has over 600 restaurants, with plans to add 2,000 more restaurants in the next decade.Much of Taco Bell’s everlasting appeal with its fans and legendary connection in lifestyle culture are rooted incutting-edge, buzzy marketing campaigns. From helicoptering 10,000 Doritos Locos Tacos to residents of remote Bethel, Alaska, to selling out “The Bell Hotel”—aTaco Bell-themed resort hotel—in less than two minutes, the brand continues to pushindustryboundaries.
Taco Bell is equally focused on creating a positive impact on the world in fresh ways through Food, People and Planet initiatives. One example is through supporting theTaco Bell Foundation, which encouragesrestaurant team membersand fansto pursuetheireducationalpassions through programs such as the Live Más Scholarship.According to Harris Poll, Taco Bell has been named America’s Best Mexican-Food Restaurant for two back-to-back years and has been named “Most Innovative Company” byFast CompanyandtoppedEntrepreneur’s“Franchise 500”listfor two years in a row.
About the Job:
As the Senior Real Estate Manager, you will lead the team of Company Real Estate Managers and will report to the Director of Field 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 Sr Real Estate Manager is charged with building the overall pipeline for Taco Bell. This position requires the exercise of discretion and independent judgment in the performance of the various duties. In this role you will:
- Lead the team of Company Real Estate Managers
- Deliver a robust pipeline of deals that 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
- Partner with SD&A on recent COM opening performance and returns and create new success criteria based on learnings
- Partners with Market Planning on DMA strategies
- Partner with SD&A and A&D teams on site selection for new test concepts
- Secure quality sites within desired trade areas that meet/beat the fair market value
- Schedule regular field visits to completely understand trade area and site alternatives
- Schedule and lead timely and thorough site rides with Company Development Leader and Operations partners
- Leverage negotiation skills to coach REM’s on best practices to secure deal terms.
- Provide project management leadership and discipline to the approval process
- Develop complete comprehension of financial model imperatives
- Participates in 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
- 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 knowledge and thought leadership for Market Planning in their DMA’s
Is This You?
- Must be fully vaccinated against Covid-19, subject to reasonable accommodations. Proof of vaccination is required.
- At least 7+ years of 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 the Real Estate community (brokers, attorneys, city officials, and general contractors) is 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 Flex 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, Booster gas delivery
- Onsite gym with fitness classes
- 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 fromYum! 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.)
*Please note that some perks/amenities may not be available and/or may be modified at the Company’s sole discretion during the COVID-19 temporary work-from-home period.
Benefits at Yum!
Most of the employee programs and benefits are applicable in the U.S. Internationally, benefits are tailored by market and role. Check with your hiring team to see which ones apply to your job in your market.