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.
At Cresco, we aim to lead the nation’s cannabis industry with a focus on regulatory compliance, product consistency, and customer satisfaction. Our 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, we will operate with the same level of professionalism and precision in each new market we move in to.
Cresco Labs is seeking a SVP 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 be a member of the executive leadership team of Cresco Labs and oversee the strategy, execution, and budget across the Real Estate Department nationally. This role will have responsibility across all site selection and acquisition processes, including location identification and qualification, negotiation, and exchange of purchase or lease agreements for all retail and manufacturing properties for the organization. The ideal candidate will be a strong project manager with high business acumen, leading projects to deliver new stores, facilities, expansions and remodels on time and in budget.
CORE JOB DUTIES
- Collaborate with Executive Team to determine target Retail Store and Cultivation/Manufacturing/Production Facility openings.
- Work with Public Relations, Marketing, and Store Operations to determine Retail Opening dates for boots on the ground, soft openings, and grand openings
- Weigh relationships between store operations/logistics and new markets. Leverage presence of existing field strength for expansion and present recommendations to the Executive Team
- Supervise daily activities and production operations of both site-based and remote staff within retail stores and facilities.
- 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 the status of all development activities
- Manage deliverables and communication between team members, consultants and attorneys to ensure timely openings for new stores, expansions, or build-outs
- Represent Cresco Labs to local governmental entities and the public, including facilitating community meetings and public hearings
- Evaluate information within existing markets to qualify and refine success criteria (demographics, drive time radius, population, etc.)
- Identify opportunity markets within expansion consideration states and 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
REQUIRES SKILLS AND EXPERIENCE
- Minimum of a Bachelor's Degree or equivalent work experience
- 10+ years of progressive commercial real estate experience, preferably in high-volume retail and manufacturing/production facility site selection in a rural environment.
- Minimum of 5 years leading and managing a team
- 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.