Director, Development

Realty Income is seeking an experienced Senior Director of Development Transactions to identify and negotiate development and redevelopment opportunities and support the Development Department by sourcing deals, managing the Steering Committee, and expanding business development efforts.

Responsibilities

• Source and pursue domestic and international development and redevelopment opportunities, including pad leasing, outparcel build-to-suit, asset repurposing, big-box demising, and opportunities with tenants, brokers, developers, and outside vendors.
• Draft, review, and prepare Letters of Intent for management review.
• Coordinate day-to-day execution of potential investment-related transactions (preparation of confidentiality agreements / NDAs, letters of intent).
• Analyze, delegate, and review transaction structures, economics, and property underwriting (market evaluation, store-level performance, tenant analysis, CC&R/REA analysis, etc.) and prepare Investment Committee materials.
• Manage transaction process and information flow between internal groups (Research, Legal, Accounting, Investment Committee) and external groups (brokers, developers, tenants/clients).
• Prepare, review, and manage Investment Committee spreadsheets and transaction summaries, and present proposed transactions to leadership.
• Communicate with tenants/clients and developers to negotiate lease amendments, term sheets, profit sharing, and reciprocal easements.
• Review proposed development budgets and valuation analyses for projects.
• Engage in proactive discussions with brokers and developers about incremental value-creation opportunities and negotiate appropriate fees.
• Use product knowledge and relationships to work with SVPs, VPs, and AVPs in identifying business needs.
• Research and track new redevelopment and business development opportunities, maintain coverage of potential sellers and market contacts, and build relationships with developers, tenants, brokers, sponsors, bankers, etc. to support deal sourcing.
• Establish protocols & standards for project handoff to Development Operations and maintain limited involvement to ensure critical actions are understood.
• Oversee project tracking, quarterly reporting, and development spend forecasting; establish financial reporting processes to meet department deadlines and evaluate enterprise-level reporting and data management applications.
• Complete special projects and duties as assigned.

Qualifications

• Bachelor’s degree in finance, real estate, or related field (or equivalent work experience).
• Minimum 10+ years of experience in commercial real estate, specifically retail and/or industrial transactions and/or development.
• In depth understanding of budgeting, cash flows, and financial analysis for real estate development projects.
• Proficient in MS Office Suite.
• Self-starter with ability to source and close deals across all transaction stages.
• Strong written, verbal, and negotiation skills, and ability to communicate complex issues to leadership, tenants, developers, and brokers.
• Skilled in analyzing complex matters, assessing risk, and recommending practical solutions.
• Creative, resourceful, and strategic problem solver with strong attention to detail and accuracy.
• Able to manage multiple priorities, adapt to changing assignments, work under pressure, and meet deadlines.
• Comfortable taking initiative and leading through ambiguity with limited direction.
• Ability to read, analyze, and interpret routine to complex legal and business documents.
• Professional, collaborative, and effective at building strong working relationships.

Additional Preferred Qualifications

• MBA or MS in a related field.
• California Department of Real Estate Salesperson or Broker license.

Location & Work Arrangement

Position based in San Diego (Del Mar Heights) headquarters. Monday through Thursday in-office; remote Friday.

Compensation

Base pay range: $123,251 – $156,389 – $189,099. Higher offers may be considered for exceptional candidates. Eligible for annual discretionary bonus and stock award. Total compensation based on experience, skills, performance, and market data.

Benefits

Healthcare, dental, vision insurance for employees and eligible dependents. 401(k) plan with company match of 50% up to 6% of eligible compensation. Wellness, financial, and work/lifestyle benefits, generous PTO accrual, 12 paid holidays, and paid volunteer time.

Compliance

Subject to enhanced compliance and disclosure requirements comparable with a regulated financial services organization, including conflict of interest disclosures and personal trading policies.

Equal Opportunity

Realty Income is an Equal Opportunity Employer. We celebrate diversity and are committed to an inclusive environment. If you require accessibility support to submit your application or other reasonable accommodations, please contact or call . This contact is only for disability accommodations.