Description
Job Summary:
Penske Transportation Solutions is seeking a Vice President of Real Estate responsible for leading and executing the company's real estate strategy including managing a portfolio of over 1,200 owned and leased properties and fueling growth by executing on new properties at the right time, in the right market, at the right price. This executive has responsibility for leased and owned property management, acquisitions, divestitures, establishing initiatives to optimize the portfolio and overseeing effective implementation of our Integrated Workplace Management System (IWMS).
The VP of Real Estate has consistent collaboration and communication with officers and leaders in field operations, finance, business development, legal, marketing, risk management, facilities, environmental, remarketing, IT, and maintenance as well as a host of other external parties including developers, owners/landlords, economic development authorities, attorneys, surveyors, appraisers, real estate brokers, consultants, and contractors. The position will provide leadership and direction to 4 direct reports and a total team of 20 associates.
Qualified candidates for this role will have 15+ years' experience in corporate real estate, commercial real estate, or real estate development, with at least 5 years in an executive leadership role including oversight of direct and indirect reports. This role reports to the Senior Vice President of Fuels and Facilities Services. The role is based in the corporate office in Reading, PA.
Job Responsibilities:
• Develop and execute a comprehensive real estate strategy aligned with the company's business objectives.
• Oversee all real estate transactions, including site selection, lease negotiations, acquisitions, and dispositions.
• Manage and optimize a diverse real estate portfolio, ensuring cost-effectiveness, operational efficiency, and strategic growth.
• Lead real estate development projects, including new construction, renovations, and expansions.
• Partner with Finance to develop budgets, forecasts, and financial models for real estate investments.
• Establish relationships with key external stakeholders, including landlords, developers, brokers, and regulatory agencies.
• Ensure compliance with all regulatory requirements, zoning laws, and environmental considerations.
• Lead a high-performing real estate team, fostering a culture of accountability, collaboration, and continuous improvement.
• Stay ahead of market trends and industry best practices to identify new opportunities for innovation and efficiency.
• Collaborate with Legal to review contracts and mitigate risks associated with real estate transactions.
• Oversee the optimization of our Integrated Workplace Management System (IWMS), IBM Tririga, for use in Real Estate and other groups across the enterprise.
• Other projects as assigned
Qualifications:
• Bachelor's degree in Real Estate, Business, Finance, Legal, or a related field; MBA or advanced degree preferred.
• 15+ years of experience in corporate real estate, commercial real estate, or real estate development, with at least 5 years in an executive leadership role.
• Strong expertise in real estate transactions, financial modeling, leasing, and site selection.
• Demonstrated ability to develop and execute real estate strategies that drive business success with a proven track record of practical, cost effective, and creative solutions to real estate challenges
• Excellent negotiation, analytical, and problem-solving skills.
• Proven leadership experience with the ability to manage and develop teams.
• Strong understanding of real estate law, zoning regulations, and industry compliance standards.
• Exceptional communication and interpersonal skills with the ability to influence senior leadership and external partners.
• Executive presentation skills required
• Cross functional leadership skills and the ability to build relationships across the organization required
• Strategic and critical thinking required
• Must have financial aptitude and strong networking skills
• Regular, predictable, full attendance is an essential function of the job
• Willingness to travel as necessary, work the required schedule, work at the specific location required, complete Penske employment application, submit to a background investigation (to include past employment, education, and criminal history) and drug screening are required.
Physical Requirements:
• The physical and mental demands described here are representative of those that must be met by an associate to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• The associate will be required to: read; communicate verbally and/or in written form; remember and analyze certain information; and remember and understand certain instructions or guidelines.
• While performing the duties of this job, the associate may be required to stand, walk, and sit. The associate is frequently required to use hands to touch, handle, and feel, and to reach with hands and arms. The associate must be able to occasionally lift and/or move up to 25lbs/12kg.
• Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception and the ability to adjust focus.
Penske is an Equal Opportunity Employer
About Penske Transportation Solutions
Penske Transportation Solutions is the umbrella brand for Penske Truck Leasing, Penske Logistics, Epes Transport Systems, Penske Vehicle Services, and related businesses. Our businesses provide innovative transportation, supply chain and technology solutions to keep the world moving forward. Visit GoPenske.com to learn more.
About Penske Truck Leasing/Transportation Solutions
Penske Truck Leasing/Transportation Solutions is a premier global transportation provider that delivers essential and innovative transportation, logistics and technology services to help companies and people move forward. With headquarters in Reading, PA, Penske and its associates are driven by a dedication to excellence and a commitment to customer success. Visit Go Penske to learn more.
Job Category: Executive
Job Function: Real Estate & Facilities
Job Family: General Administration
Address: 100 Gundy Drive
Primary Location: US-PA-Reading
Employer: Penske Truck Leasing Co., L.P.
Req ID: 2503873
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