Your Impact

The primary purpose of the Real Estate Manager – Property Management is to manage a portfolio of real estate assets as assigned to maximize its long term value through implementation of policies, procedures, and programs. The Real Estate Manager - Property Management will be the primary real estate partner and liaison with store operations, landlords, third parties and internal Real Estate, Engineering and Construction (REEC) departments to realize year over year improvements in cost control, quality, service, and business alignment.

What You Will Do

• Within an assigned geographical area, renegotiation of leases, targeting existing locations with notice dates of 5 years or less. Locations will be reviewed for potential rent reductions, while ensuring that location will be accretive to Lowes long term financial feasibility. Responsible for analyzing full market background, including but not limited to, historical market conditions, current shifts in retail or demographics, potential relocations, potential closures, and ultimate financial effect to the market. Manage a group of outside consultants throughout the negotiations. Collaborate with Operations, Market Insights, Facilities and Legal (including review of original lease provisions against current lease provisions).

• Reviews and evaluates existing stores within the assigned region for changes in local ordinances, real estate, ancillary and other such agreements affecting operations

• Primary point of contact for internal customers, property owners, landlords and third parties for questions and issues related to the Company’s real estate assets.

• Negotiates, prepares and coordinates execution of real estate documents with interested parties that are in the best interest of the Company and in accordance with company guidelines.

• Maintains and controls divisional financial budget process (forecast and actual) for Common Area Maintenance (CAM) expenses and reconciliations to control/reduce costs and deliver upon the Company’s business objectives

• Develops, maintains and manages portfolio calendar of events and tasks

• Administers ancillary agreements such as Easements, Covenants, Conditions and Restrictions agreements (ECCRs) and subleases that impact the Company’s real estate to ensure obligations are met and to protect the Company’s interests.

• Supports store operations initiatives and management through review, analysis and communication of the company’s rights and obligations related to use and operation of the real estate.

• With support of other departments in the division, reviews, tracks and manages reimbursement obligations to ensure timely collection.

• Coordinates frequently with internal partners, including, Legal, Site Incentives, Excess Property, Engineering & Construction, Property Tax, Capital Asset Accounting, Finance, Public Relations, Facilities Maintenance and Supply Chain to effectively manage the Company’s real estate assets.

• Assists the Property Administration role to maintain the integrity of the Location Management System to ensure information is current and accurate as a business management tool

• Assists developing and implementing recommendations to position the property to achieve the highest value consistent with business objectives

• Performs due diligence for ECCR amendments, estoppel requests and other third party requests.

• Prepares and presents Property Management matters, proposals and projects requiring senior management approval.

• Review notices received from regulatory and other authorities for potential impact on the Company’s real estate assets and assists store operations in addressing any issues.

• Adheres to departmental operational guidelines and procedures in the management of the Company’s real estate assets.

• Individual Contributor

Minimum Qualifications

• Bachelor's Degree Preferably in Business Administration, Real Estate, Engineering, Architecture, or Construction and 5-7 Years 5 years Commercial property management or related experience, preferably with multiple retail and/or big-box sites

• 5-7 Years 5 years Experience in managing negotiations of occupancy costs for 100 + sites

Preferred Skills/Education

• Experience managing CAM audits and reconciliations

• Certified Property Manager (CPM)-IREM

• Certified Commercial Investment Member (CCIM)

About Lowe’s

About Lowe's

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2024 sales of more than $83 billion, Lowe’s operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit Lowes.com.

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Starting rate of pay may vary based on factors including, but not limited to, position offered, location, education, training, and/or experience. For information regarding our benefit programs and eligibility, please visit our benefits page.

Lowe's hourly remote associates cannot reside in Alaska, California or Hawaii. Lowe's salaried remote associates cannot reside in Alaska or Hawaii.

Lowe’s is an equal opportunity employer and administers all personnel practices without regard to race, color, religious creed, sex, gender, age, ancestry, national origin, mental or physical disability or medical condition, sexual orientation, gender identity or expression, marital status, military or veteran status, genetic information, or any other category protected under federal, state, or local law.

Qualified applicants with arrest or conviction records will be considered for Employment in accordance with applicable laws, including the Los Angeles County Fair Chance Ordinance for Employers, the Los Angeles Fair Chance Ordinance, the San Francisco Fair Chance Ordinance, and the California Fair Chance Act.

Lowe’s believes that conviction records may have a direct, adverse, and negative relationship to the following job duties: accessing company property, assets, information and products; partnering, supervising, and regularly working with other Lowe’s employees; and adhering to and monitoring compliance and safety guidelines.