At Five Below our growth is a result of the people who embrace our purpose: We know life is way better when you are free to Let Go & Have Fun in an amazing experience, filled with unlimited possibilities, priced so low, you can always say yes to the newest, coolest stuff! Just ask any of our over 20,000 associates who work at Five Below and they’ll tell you there’s no other place like it. It all starts with our purpose and then, The Five Below Way, which is our values and behaviors that each and every associate believes in.
It’s all about culture at Five Below, making this a place that can inspire you as much as you inspire us with big ideas, super energy, passion, and the ability to make the workplace a WOWplace!
Position Summary
The Real Estate Portfolio Manager is responsible for overseeing the strategic and operational management of the company’s real estate portfolio. This role requires extensive collaboration with Store Operations, Lease Administration, Construction, Design, and Finance teams to develop and execute comprehensive strategies for existing store locations. Key responsibilities include evaluating and implementing store repositioning, expansions, rent restructurings, remodels with landlord contribution, and lease extensions.
The Portfolio Manager also manages day-to-day real estate store actions, partnering with cross-functional teams to address time-sensitive issues and ensure alignment with overall business objectives. Success in this role requires exceptional relationship management, financial acumen, and the ability to influence and communicate effectively across all levels of the organization.
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Key Responsibilities
Portfolio Strategy & Financial Management
· Monitor, financial evaluation, and reporting of stores with upcoming lease actions.
· Develop and execute strategic plans for existing store locations.
· Conduct field visits to assess market conditions, have in depth discussions with operations and regional dealmakers to analyze rental trends, and identify alternative location opportunities.
· Prepare and present comprehensive strategy plans to Real Estate leadership.
Negotiation & Transaction Management
· Negotiate lease renewals, extensions, expansions, relocations, tenant allowance for remodels, and rent restructurings with landlords.
· Collaborate with market brokers and regional dealmakers to implement repositioning strategies.
· Partner with Lease Administration and Legal Counsel to finalize all required legal documentation in accordance with lease terms.
Cross-Functional Collaboration
· Work closely with Construction, Design, Facilities, and Finance teams throughout the lease action evaluation process.
· Prepare detailed store approval packages, financial analyses, and other supporting documentation.
· Present proposed store actions (relocations & expansions) at REC meetings.
· Maintain frequent communication with operational partners and deliver periodic presentations on portfolio strategies and priorities.
Relationship Management & Industry Engagement
· Develop and maintain strong relationships with key developers, brokers, and landlords.
· Represent the company at select regional and national ICSC conventions.
· Ensure consistent, professional communication with all internal and external stakeholders.
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Qualifications
· Bachelor’s or Master’s degree in Business Administration, Real Estate, Finance, or a related field preferred.
· 7+ years of experience in retail real estate, with proven success in portfolio or asset management.
· 5+ years of experience negotiating leases, contracts, and related legal documents.
· 4+ years of experience managing relocations, expansions, and lease restructure initiatives, including a proven track record of negotiating landlord contributions for remodels.
· Strong proficiency in Microsoft Excel and familiarity with lease database systems.
· Exceptional communication, presentation, analytical, and problem-solving skills.
· Demonstrated ability to manage multiple priorities, navigate ambiguity, and adapt to changing business needs.
· Strong understanding of real estate principles, market analysis, and related legal considerations.
· Highly organized, detail-oriented, and self-motivated, with a commitment to meeting deadlines.
· Must be able to travel as needed.
Explore our benefits site to discover all the perks and support we offer! From health coverage to financial and personal wellness, we've got you covered—check it out today! benefits.fivebelow.com/public/welcome
Five Below is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, age, national origin, disability, protected veteran status, gender identity or any other factor protected by applicable federal, state, or local laws.
Five Below is committed to working with and providing reasonable accommodations for individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please submit a request and let us know the nature of your request and your contact information. crewservices.zendesk.com/hc/en-us/requests/new
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