Senior Real Estate Manager, Retail Portfolio, And Lease Strategy (Hybrid, Seattle)

Job Description

The Lease Strategy Program Manager is a key member of the Real Estate and Store Development team, who will oversee the existing leased retail Real Estate portfolio. This role's responsibilities include developing and maintaining portfolio leasing strategy, negotiating lease renewals, working cross-functionally to understand portfolio needs and opportunities, Real Estate document management, landlord requests and approvals, and other portfolio related duties. This role is a key partner to Nordstrom internal stakeholders that engage with our Real Estate portfolio such as Construction, Facilities, Finance, Store and Regional Teams, Risk Management, etc. as well as the primary point of contact for the Landlords of our existing portfolio. The ideal candidate is a self-starter who thrives in a fast-paced, dynamic environment and has a deep knowledge of the leasing process and a passion for Real Estate. Outstanding project management and communication skills, both written and verbal are required.

A day in the life…

• Lead end-to-end lease renewal negotiations for Nordstrom Real Estate portfolio.
• Develop and execute negotiation strategies that optimize lease economics - rent, term, options, co-tenancy, exclusives, and other key business terms.
• Manage the full renewal timeline from early lease analysis and market research through execution of final documents.
• Evaluate lease expirations, options, and critical dates to prioritize and sequence renewals across the portfolio.
• Engage and build productive working relationships with external vendors and brokers, as well as landlords and their representatives, including institutional owners, REITs, and private developers
• Partner with Finance, Store Operations, Facilities, and Construction & Design to understand the operational and strategic needs of each location.
• Work with internal legal counsel to draft, review, and finalize lease documents, amendments, and related agreements.
• Collaborate with Store Planning on sales trends, four-wall economics, and capital requirements to inform renewal decisions.
• Present renewal recommendations and deal summaries to senior leadership
• Coordinate with Lease Administration to ensure all critical dates, obligations, and lease data are accurately tracked and maintained.
• Maintain a deep understanding of market conditions, competitive set, and landlord dynamics across key markets.
• Identify opportunities to improve portfolio performance through lease restructuring, right-sizing, or disposition.
• Support site dispositions, co-tenancy enforcement, and lease termination negotiations as needed.
• Contribute to long-range portfolio planning efforts, including scenario analysis and strategic recommendations on store footprint.

You own this if you have…

• Minimum 6-8 years of commercial Real Estate experience, with a meaningful focus on retail lease negotiation.
• Demonstrated track record of leading complex, multi-party lease negotiations with measurable outcomes.
• Strong financial acumen; ability to model lease economics, analyze occupancy cost, and build business cases.
• Excellent interpersonal and communication skills, with the ability to influence stakeholders at all levels.
• Collaborative working style with experience navigating cross-functional environments.
• High attention to detail and ability to manage multiple transactions simultaneously in a deadline-driven setting.
• Proficiency with Real Estate data tools, lease management systems, and Microsoft Office suite.
• Bachelor's degree required; focus in Real Estate, Finance, Business, or related field preferred.

We've got you covered…

Our employees are our most important asset and that's reflected in our benefits. Nordstrom is proud to offer a variety of benefits to support employees and their families, including:

• Medical/Vision, Dental, Retirement and Paid Time Away

• Life Insurance and Disability

• Merchandise Discount and EAP Resources

A few more important points...

The job posting highlights the most critical responsibilities and requirements of the job. It's not all-inclusive. There may be additional duties, responsibilities and qualifications for this job.

For Los Angeles or San Francisco applicants: Nordstrom is required to inform you that we conduct background checks after conditional offer and consider qualified applicants with criminal histories in a manner consistent with legal requirements per Los Angeles, Cal. Muni. Code 189.04 and the San Francisco Fair Chance Ordinance. For additional state and location specific notices, please refer to the Legal Notices document within the FAQ section of the Nordstrom Careers site.

Applicants with disabilities who require assistance or accommodation should contact the nearest Nordstrom location, which can be identified at www.nordstrom.com.

Please be mindful that there may be legal notices and requirements related to this job posting that are specific to your state. Review the Career Site FAQ's for relevant information and guidelines.

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Pay Range Details

The pay range(s) below has been provided in compliance with state specific laws. Pay ranges may be different for other locations.

Pay offers are dependent on the location, as well as job-related knowledge, skills, and experience.

$110,500.00 - $183,000.00 Annual

This position may be eligible for performance-based incentives/bonuses. Benefits include 401k, medical/vision/dental/life/disability insurance options, PTO accruals, Holidays, and more. Eligibility requirements may apply based on location, job level, classification, and length of employment. Learn more in the Nordstrom Benefits Overview by copying and pasting the following URL into your browser: https://careers.nordstrom.com/pdfs/Ben_Overview_17-19.pdf