Position: Summer Internship, Real Estate Department
FUNCTION: New Store Growth
DEPARTMENT: Real Estate
PROJECT NAME: Mock Real Estate Committee (REC) Presentation
The Real Estate intern will gain exposure to the new store site selection process from the initial site review through lease execution, as well as portfolio management for existing stores. The intern will work with internal partners from Real Estate, Lease Administration/Legal, Construction, Design, Repair & Maintenance, and Store Operations. The intern will also work with external partners, including brokers, architects, and landlords.
Over the ten weeks, the intern will rotate through the following areas of the department:
Three (3) weeks: shadow a dealmaking team for a new store territory
Two (2) weeks: shadow another dealmaking team for a new store territory
Two (2) weeks: shadow Portfolio Manager & portfolio management function
One (1) week: shadow Senior Real Estate Analyst & market research function
One (1) week: shadow Lease Administration & Legal team
One (1) week to complete new store presentation
The objective is for the intern to gain the necessary skill set to understand the reasoning why Five Below should open a new store in a set location. The rotation through the different areas of the department will give the intern necessary exposure to gain such skill set.
The intern will present a new store deal in a mock Real Estate Committee (REC) meeting consisting of members from Real Estate, Lease Administration, and Store Operations. Similar to actual committee meetings, members will ask questions during the presentation and the intern will need to answer any said question to justify their logic behind opening the new store. The mock presentation will be a good indication of their interest in pursuing a career in retail real estate and their comprehension of the profession.
Commutable to WoWToWN - Philadelphia, PA
Willing to learn and grow in a fast paced environment
Ability to multi-task
Communicate effectively across all functions
Proficient in Microsoft Office
Self-starter who takes initiative
Must be able to work on a full-time basis for 10 weeks from June 2019 through to August 2019
Targeted Class Level: Sophomore or Junior
GPA Requirement: 3.0 or higher preferred
Desired or preferred degree concentration: Real Estate, Finance, Economics, Statistics, and/or Marketing
Additional Salary Information: This is a paid internship
About Five Below Inc.
The Philadelphia-based company is one of the fastest growing retailers in the country with over 600 stores in 32 states. The Company cut the ribbon on approximately 100 new stores and entered the Los Angeles market, on top of opening 87 stores in 2016. Catering to teens, pre-teens and their parents, Five Below carries an ever-evolving and exciting assortment of cell phone cases and chargers, remote control cars, yoga pants, graphic tees, nail polish, footballs and soccer balls, tons of candy and seasonal must-haves for Easter, Halloween, Christmas and more. Everything, everyday, is just $5 and below. Its stores are a vibrant, colorful and high-energy destination. Five Below products are grouped into one of eight in-store worlds: Style, Room, Sports, Tech, Crafts, Party, Candy and Now. Five Below’s assortment features brands such as Lego®, Wilson®, Hasbro™ Peeps® Disney® Marvel® Frozen, Despicable Me, Avengers Star Wars™.
Five Below was founded in 2002 by David Schlessinger, creator and founder of Encore Books and Zany Brainy along with Tom Vellios, former CEO of Zany Brainy, and current Chairman of Five Below. In early 2015, Joel Anderson, the former CEO of WalMart.com..., was named CEO and President of Five Below. The Company (NASDAQ: FIVE) has achieved astounding growth, including a current string of 37 consecutive quarters of positive comparable stores sales growth (from Q2, 2006 to present).
Five Below is poised to grow rapidly driven by a unique approach to targeting the teen and pre-teen customer with an edited assortment of trend-right, high quality merchandise that fosters universal appeal. With a highly differentiated shopping experience that delivers exceptional value within the $1-$5 pricing model, customers have a deep appreciation for the brand. There is a long runway for growth with compelling and consistent store performance backed by an experienced and passionate senior management team.