Recently named one of Entrepreneur magazine’s Top 100 Cannabis Leaders, Cresco Labs is one of the largest vertically-integrated multi-state cannabis operators in the United States. Cresco is built to become the most important company in the cannabis industry by combining the most strategic geographic footprint with one of the leading distribution platforms in North America. Employing a consumer-packaged goods (“CPG”) approach to cannabis, Cresco’s house of brands is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted national brands including Cresco, Remedi and Mindy’s, a line of edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside*, Cresco’s national dispensary brand is a wellness-focused retailer designed to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco has launched the industry’s first national comprehensive Social Equity and Educational Development (SEED) initiative designed to ensure that all members of society have the skills, knowledge and opportunity to work in and own businesses in the cannabis industry.
Cresco aims to lead the nation’s cannabis industry with a focus on regulatory compliance, product consistency, and customer satisfaction. Their operations bring legitimacy to the cannabis industry by acting with the highest level of integrity, strictly adhering to regulations, and promoting the clinical efficacy of cannabis. As Cresco grows, they will operate with the same level of professionalism and precision in each new market they move in to.
Cresco Labs is hiring a Director of Real Estate to contribute to the success of our organization by developing and executing strategic market plans for new and existing markets.
In this position you will oversee the site selection and acquisition process including location identification and qualification, negotiation, exchange of purchase or lease agreements. This role will be responsible for the oversite of both project management and finances in an effort to deliver new stores on time and on budget for projects across the United States.
CORE JOB DUTIES
- Evaluate information within existing markets to qualify and refine success criteria (demographics, drive time radius, population, etc.)
- Identify opportunity markets within expansion consideration states
- Review future expirations and option periods for existing markets.
- Scrutinize State and local regulations and zoning codes to determine jurisdictional requirements
- Collaborate with Executive Team for probable market renewals, closings, and timing of disclosure.
- Negotiate occupancy costs, exclusivity, tenant allowance, utility details, exterior allowances, etc. and be firm on deal-breakers.
- Cultivate strong relationships with landlords and leasing agents.
- Work with Executive Team to determine target openings.
- Work with Public Relations, Marketing, and Store Operation to determine dates for Boots on the Ground, soft openings, and grand openings.
- Manage deliverables and communication between team members, consultants and attorneys to insure timely openings
- Weigh relationship between store operations/logistics and new markets. Leverage presence of existing field strength for expansion.
- Present recommendations to Executive Team.
- Supervise daily activities and production operations of both site-based and remote staff.
- Collaborate with cross-functional teams to create project deadlines, administer and amend leases, and manage other real estate activity
- Prepare regular reports and updates on status of all development activities
- Represent Cresco Labs to local governmental entities and the public, including facilitating community meetings and public hearings
REQUIRES SKILLS AND EXPERIENCE
- Minimum of a bachelor's degree or equivalent work experience
- 10+ years of progressive real estate experience, preferably in high-volume retail or manufacturing/production facility site selection in a rural environment
- Ready, willing and able to travel around 30-50% of the time
- Knowledge of real estate acquisition and lease process, real estate and contract law (negotiating complex lease provisions), retail real estate markets, real estate valuation, development entitlement processes and best practices of real estate project management
- Proven leadership and commitment to team development
- Strong project management, negotiation, and financial analysis skills
- Proven resilience in high-stress situations
- Effective, efficient and growth mindset
- Excellent negotiation skills
- Focused with the ability to make effective presentations
- Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint) and similar software
- Must be 21 years of age or older to apply
- Must comply with all legal or company regulations for working in the industry
“Cresco Labs is an Equal Opportunity Employer and all applicants will be considered without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, or disability status. “