Phone: (415) 730 3121 erickelly61[at]gmail.com
Utilize 20 years experience in real estate, construction, property/facility management, budget control and cost saving to maximize portfolio profitability.
Bally Total Fitness 2010 to 2012
Bally Total Fitness is a privately held company based in Chicago, IL with 280 locations throughout the US.
Vice President, Real Estate
Responsible for all facets of 6 person development department including expense and CapEx budgeting, strategic planning, site selection, proforma development and model validation, construction budgeting and management, site approval to the Board. Reported to the President/ CEO.
Developed and executed profit and loss analysis of portfolio performance resulting in an action plan for each store to determine conversion; relocation; sale or closure. Sold 4 vacant and 9 operating locations for $10 million.
Created unique site selection criteria, plans and specs for two new prototype facilities: a 40,000 sqft big box and 18,000 sqft value concept including ground-up prototype with preferred developer.
Identified site, signed lease and opened new 40,000sqft prototype within first 9 months with the company.
Filled development pipeline with 23 Board approved locations.
Signed leases and opened 4 locations to be in first 18 months with company.
Rebuilt development department after a 5 year hiatus from development including in-house staff, broker/developer network, architects, general contractors, national account vendors and diligence/legal.
ORCHARD SUPPLY HARDWARE, INC. -- 2007 to 2008
Orchard Supply Hardware is an 85 store, privately held chain specializing in home improvement and repair. The stores are located throughout California and average 55,000 sqft. Annual sales near $1 billion.
Vice President, Store Planning and Real Estate
Responsible for all facets of 10 person development department including expense and CapEx budgeting, strategic planning, site selection, proforma development and model validation, construction budgeting and management, site approval to the Board, and property/facilities management. Reported to the President/ CEO.
Developed facilities audit and capital repair & maintenance program resulting in $5 million in savings.
Identified more than $10 million in lease transaction savings.
Revamped management of the portfolio of owned and leased locations with improved CAM, insurance and tax budgeting and reconciliation. Restructured the department. Revised all standardized documentation.
LA FITNESS INTERNATIONAL, LLC. - 2006 to 2007
LAF is a privately held company based in Irvine, CA with 200 locations in 19 states and Canada averaging 45,000 sqft.
Senior Vice President, Real Estate
Responsibility for the strategic planning, site analysis, proforma development and market entry into Canada. Reported to the Chief Real Estate officer.
Signed15 deals in 8 months
24 HOUR FITNESS, INC. - 1999 to 2006
24 Hour Fitness, Inc. is a privately held company based in San Ramon, CA with 380 locations in 16 states. Stores ranged in size from 2,000 sqft to more than 100,000 sqft. Annual sales exceeded $1 billion
Senior Vice President, Development - 2002 to 2006
Responsible for all facets of 30 person corporate development department. Direct reports included VP Real Estate, VP Construction, VP Architecture, VP Acquisitions, VP Facility Management and Purchasing and Director of Property Management. Reported to the President
Developed annual 1, 3, 5 year growth plans. Responsible for new store goals and performance vs. forecast. Store growth ramped to 50 annually. Approved all final project proformas and budgets
Selected, built/acquired, and opened 162 stores. Completed approximately 15-20 major remodels per year.
Created unique site selection criteria, plans and specs for six 24 Hour prototypes including Signature Clubs, partnerships with a select group of athletes: Magic Johnson; Andre Aggasi; Shaq and Lance Armstrong
Developed ground-up prototype and preferred developer program doubling ground-up construction
Implemented cost saving construction initiatives, including forward buying, alternate materials, comprehensive RFP for all major components. Undertook a national accounts policy realizing savings of approximately 5%. Achieved Overhead/Profit & Retention percentages of 5% and 5% respectively.
Executed profit and loss analysis of portfolio performance resulting in a three year action plan for each existing store to determine recommended remodel, relocation, expansion or closure.
Created new strategic planning models for site selection and revenue forecasting using market demand/penetration, demographic/psychographic data (ESRI).
Vice President, Real Estate & Construction 1999-2002
Managed seven real estate and construction staff. Reported to the SVP Development
Established retail brokerage network in each market. Created first corporate three-year strategic growth plan.
Selected, built/acquired, and opened 46 new stores and approximately 15 major remodels per year.
Implemented cost control initiatives realizing $20 million in savings in two years.
Reorganized property management and lease administration resulting in more than $1 million in savings.
BEVERAGES and MORE!, INC - 1996 to 1999
BevMo is a privately held specialty food, wine and beverage retailer averaging 15,000 sqft.
Vice President, Real Estate
Established the real estate/construction department. Carried out all legal functions. Managed entitlement/due diligence, construction, design, legal, and lease administration function. Reported to the President
Selected, built, and opened 26 locations in three states. Presented sites to BOD. Developed and implemented long-range strategic planning and modeling for national store roll-out. Developed new store layout and design
TERRANOMICS RETAIL SERVICES, LLP 1988 to 1996
Top producer at TRS, a retail brokerage company in Northern California
COLORADO SCHOOL of MINES - 1984 to 1988
Assistant/Associate Director of Annual Giving.
EDUCATION: BA, Political Science, University of Colorado 1984