Director of Real Estate & Store Portfolio Management
AKIRA
Chicago, IL
Business Management / Project / Planning, Sales / Marketing
In 2002, AKIRA opened the doors to its first women's clothing boutique in Chicago. Since then, the company has extended its reach to 40+ stores across the United States, as well as a thriving eCommerce business (shopAKIRA.com). AKIRA is extremely well-poised for sustained growth as we continue to build a nationally recognized brand.
AKIRA's culture has one very large, distinct difference from other high fashion competitors: Other-Worldly Customer Service and Fanatical, Obsessive Attention to the consumer's needs and desires. The core principle for all employees at AKIRA is to Act and Think Like an Owner, and this belief can be reflected across all areas of the company.
Position: Director of Real Estate & Store Portfolio Management
Location: Chicago, IL
Position Overview
AKIRA is an expanding fast-fashion retailer with 40+ locations and an aggressive plan to grow to 100+ stores over the next several years. We are seeking a Director of Real Estate who will fully own our national store portfolio-strategy, renewals, site selection, negotiations, analytics, and landlord relationships. This role centralizes work historically divided among ownership and third-party brokers (Savills) and provides AKIRA with a single accountable leader to manage a large and increasingly complex portfolio.
This is a high-impact role that directly influences AKIRA's profitability, growth velocity, and long-term footprint.
Key Responsibilities
Portfolio Strategy & Planning
- Build a 3–5 year real estate roadmap for AKIRA as we scale from our current 40+ stores.
- Analyze regional performance, co-tenancy trends, demographic shifts, mall traffic, and fashion ZIP heat maps to direct expansion or exits.
- Develop and maintain a portfolio scorecard using standardized metrics (e.g., occupancy cost %, sales PSF, EBITDA contribution, renewal risk).
- Present quarterly recommendations to COO and ownership.
- Fully manage all lease expirations, options, renewals, rent escalations, and amendment negotiations.
- Maintain a proactive 24-month renewal calendar and internal notification system.
- Perform financial modeling on renewals (rent changes, CAM/NNN impacts, ROI on remodels).
- Ensure timely execution of all lease documents.
- Identify new markets and high-potential locations using AKIRA's customer density, mall traffic, demographic match, and fashion ZIP scoring method.
- Conduct site tours, prepare comparative site matrices, and present recommendations.
- Partner with brokers (including Savills) to source and vet opportunities.
- Lead all negotiations with landlords for new stores, renewals, relocations, short-term pop-ups, and rent abatements.
- Secure favorable TI packages, free rent periods, caps on CAM increases, and co-tenancy protections.
- Coordinate with legal on lease review, risk identification, and redline management.
- Compare deals against industry benchmarks to ensure competitiveness.
- Work closely with Construction, Finance, Operations, and Store Leadership on openings, remodels, and closures.
- Partner with Finance to ensure accurate occupancy cost budgeting and forecasting.
- Provide detailed turnover requirements and timelines to Construction & Ops.
- Oversee Savills and all other real estate partners; set expectations, KPIs, and reporting cadence.
- Hold brokers accountable to delivering actionable market intel and competitive deal terms.
- Evaluate whether external brokerage workload should be expanded, replaced, or brought in-house.
- Build and maintain dashboards on store health:
- Sales PSF
- Occupancy costs
- Year-1 ramp curves
- Portfolio profitability clusters
- Risk of decline (traffic shifts, anchor closures, competitive encroachment)
- Recommend relocations or closures based on data and financial modeling.
- Create succinct, data-backed decks for ownership, COO, and board-level review.
- Provide monthly reporting: renewals, risks, landlord issues, new deals, and market trends.
- Represent AKIRA professionally with landlords, developers, and national REIT contacts.
- 5+ years in retail real estate, ideally with a multi-unit specialty retailer (50–200 stores).
- Strong experience managing high-velocity renewals, lease negotiations, and multi-market expansion.
- Advanced financial modeling skills (occupancy cost %, NPV of lease, break-even impact, EBITDA uplift).
- Demonstrated success negotiating rent reductions, TI, abatements, and early termination strategies.
- Competency in reading redlines, coordinating with legal, and managing lease execution processes.
- Strong relationships in the landlord community are a plus (e.g., Simon, Brookfield, Macerich, WS, Kimco).
- Highly organized with ability to manage 50+ concurrent timelines and lease events.
- Data-oriented and comfortable using scoring frameworks, GIS, and demographic tools.
- 0 missed renewals or escalation deadlines.
- 10–15% average improvement in renewal terms vs. legacy deals at similar locations.
- Full real estate roadmap created identifying markets for 40→80 store growth.
- Proactive communication on portfolio risks (anchor closures, declining malls, lease cliffs).
- Reduced reliance on ownership for real estate decision-making.
- Faster deal cycle times from LOI → executed lease.
AKIRA offers competitive benefits for full-time employees, including Medical, Dental, Vision, Pet Insurance, Life, LTD, FSA/HSA/Dependent Care FSA, Flex Transit (CTA), 401(k), and a generous employee discount. We’re committed to internal growth, providing meaningful development and career advancement opportunities.
Compensation
At AKIRA, we are committed to fair and transparent compensation practices. Compensation for this position will be determined based on experience, qualifications, and other job-related factors. Additional compensation and benefits may also apply and will be discussed during the hiring process
At AKIRA, we believe in breaking down the barriers of the traditional retail experience and embracing the individuality of both our team and our clients. We’re on the lookout for extraordinary individuals who thrive on creativity, innovation, and pushing the boundaries of what's possible.
Join our team and become part of a culture that values diversity, fosters personal growth, and encourages out-of-the-box thinking.
About the company
Company website•Retail Apparel and Fashion
AKIRA first opened in 2002 as a single women’s clothing boutique in the trendy Bucktown/Wicker Park neighborhood of Chicago and is owned by Eric Hsueh, Erikka Wang, Sarah Hughes, Gordon Liao and Mark Ricard. Over the years, AKIRA has expanded to over 40 stores, a thriving eCommerce website, and an expanding wholesale business. AKIRA now has stores in over 12 states with more on the way and offers a full line of women’s clothing, footwear, and accessories.
At AKIRA, we believe in breaking down the barriers of the traditional retail experience and embracing the individuality of both our team and our clients. We’re on the lookout for extraordinary individuals who thrive on creativity, innovation, and pushing the boundaries of what's possible.
Join our team and become part of a culture that values diversity, fosters personal growth, and encourages out-of-the-box thinking.
We know that true success lies in the hands of passionate individuals who take risks, challenge conventional norms, and provide unforgettable experiences for our clients. With our unique product, we strive to be at the forefront of the fashion industry, setting new trends and redefining what it means to be fashionable.
But it's not just about the product. We are committed to creating a supportive and inclusive environment where our employees can thrive and be themselves, always. We believe that by empowering our team members, we can foster a sense of ownership and pride, ensuring that everyone has the opportunity to make a significant impact on our brand's journey. If you’re ready to launch a rewarding career that combines your love for fashion and your entrepreneurial spirit, you’ve come to the right place.