Director of Real Estate Assets at Gannett in Gannett, Virginia

Job Description:

The Director of Real Estate Assets plays a crucial role in managing and optimizing lease-related activities within the Gannett organization. This person looks over a long-term planning horizon and, working across numerous departments, creates a plan for optimizing the company's use of each premise in terms of occupancy, rent paid, potential alternative spaces, and opportunities for sub-leasing and other forms of aligning the cost base with current and future utilization. Success is defined as planning for an optimal level of space as dictated by company policy and local needs, as well as bringing the cost structure in line with market conditions and the target level of space.

Base Salary: $140,000 - $160,000 annually

Duties and Responsibilities

• Oversee the master list of all offices, distribution centers, production centers, and other real estate to provide and build out a target plan for each location in terms of space needed, timing of any changes, and levers to pull (e.g., potential for sublease; anticipated changes at lease end)

• Prioritize locations most in need of realignment to match local needs with the space utilized and related costs. Dive deep into the local situations to assess utilization, how the space is meeting employees' needs, viable alternatives, and other diagnostic assessments of each leased facility

• Develop and implement action plans to realize the upside (e.g., potential to sublease space and/or investments with high ROI to optimize the outcome; alternative use for Gannett internal needs)

• Collaborate with other real estate team members to create near-term, tactical optimization plans based on renewal timing and opportunities to improve the economics of leases

• Work with senior Gannett leaders across departments to build out our longer-term real estate strategy, guidelines, and ways to align our actual leased space with the vision for an evolving digital news company

• Quantify the savings and ROI of any needed investments

Required Qualifications

Education Bachelor's Degree in Business Administration, Real Estate, or a related field or an acceptable equivalent combination of education and work experience.

Experience Minimum 10 years experience in real estate portfolio management or similar field

Desired Competencies and Skills

• Familiarity with the mechanics of leased arrangements and broader real estate portfolio management; strong preference for direct experience in real estate management or leasing experience

• Strong quantitative skills and comfort with data analysis

• Ability to drive bottom-line, data-driven conclusions and ability to gain input across multiple departments to craft a unified recommendation

• Flexibility and creativity in thinking to ensure planning and outcomes that can vary significantly by location

• Posses deep industry knowledge and the capability to manage large-scale operations effectively

• Track record of successful property portfolio management

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The annualized base salary for this role will range between $103,500 and $213,000. Base compensation is reflective of many factors, including, but not limited to, the market in which one lives/works, individual education level, skills, certifications and experience. Note: variable compensation is not reflected in these figures and based on the role, may be applicable.
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