Real Estate Analyst

ABOUT BASE Base is America’s next-generation power company. We’re rebuilding the foundation of modern civilization–electricity–by deploying a vast network of distributed batteries that is transforming today’s fragile, centralized grid into a resilient and abundant system. We are engineers, operators, and creatives solving some of the most complex, interdisciplinary challenges of our time. ABOUT THE ROLE Base is looking for a Real Estate Analyst to join our team to help build and run our physical footprint. Every new market we launch starts with a building — a distribution warehouse to stage and service batteries, and eventually manufacturing and office space to grow into. Today that footprint spans a manufacturing campus in Austin, a distribution network across multiple states, and a headquarters. On every deal, you work with the teams who will use the building to scope what they actually need, then source the options, underwrite them, and negotiate the deal through a certificate of occupancy. This is a hands-on seat: you build the models, redline the leases, run the deal and walk the buildings. WHAT YOU'LL DO Deals: - Scope new sites with the teams who will use it before we tour anything: footprint, power, dock doors, clear height, battery storage and fire code requirements, parking, and timing - Source and execute distribution warehouse launches in new markets, offices and manufacturing from site selection through certificate of occupancy - Build the underwriting on every deal we look at: base rent, opex, tenant improvements, escalations, abatement, parking, and yield on cost, with side-by-side scenario analysis so we know what we are trading away - On larger projects, build the lease versus own, build-to-suit, and yield-on-cost comparisons so leadership can weigh the options side by side - Redline and negotiate LOIs, leases, and amendments alongside our brokers and in-house counsel - Evaluate state and local incentives before we commit to a site Portfolio: - Get ahead of expansion in existing markets by flagging which facilities are running out of room before it becomes an operations problem - Right-size the network: partner with deployments to produce utilization metrics for every distribution facility, then downsize or exit the ones that are not earning their footprint Process: - Build the internal motion for real estate sourcing so deployments, launch, operations, and finance all plug into one process instead of five side conversations - Maintain the system of record for the portfolio: commencement dates, renewal windows, ROFO and ROFR rights, certificates of occupancy, insurance, and landlord contacts - Write the playbook as you go, so each new launch runs faster than the last and can be handed to the team running that market WHAT YOU'LL BRING - 2–5 years in real estate, corporate development, investment banking, private equity, or an in-house real estate function - Strong Excel. You can build lease economics from a blank sheet and defend every assumption in it - Comfort reading a lease and forming a view on what is worth pushing on and what is market - You can sit with an operations team, work out what they need from a building, and push back on requirements that are not real - Project management instincts. You track long lists of open items across brokers, architects, general contractors, and landlords without dropping any of them - You build the process without being asked. You have taken a messy, manual workflow and turned it into something other people rely on - You adapt quickly. You can move from a lease redline to a credit discussion to a permitting call in the same day and do each one well ABOUT THE TEAM The Infrastructure & Development team is responsible for the planning, execution, and delivery of all capital construction projects required for Base Power to operate and scale. The team manages a portfolio that currently includes factory renovation, new factory construction, and office headquarters development, functioning as the owner's representative across all active projects. The team is structured to provide dedicated project management per active project, with shared procurement, cost management, and process support functions across the portfolio. Please note: Base is a startup, which means priorities shift and evolve quickly. Your role may expand or change based on the needs of the business at any given time, so the responsibilities listed may not be exhaustive. OUR VALUES - First Principles Thinking: Question assumptions. Principles > rules. - Operate at Base Pace: Focus on what matters, act quickly, and learn by doing. - Give & Get Feedback: Be direct, be humble, and maintain a growth mindset. - Everyone’s an Owner: Follow through on commitments and own results. - Strong Opinions, Loosely Held: Drive clarity and make calls with imperfect information. - Committed to the Mission: Rebuilding the grid is a big challenge. We work hard because we care deeply about the impact we’re creating. We work in-person. It’s not a 9-to-5. We are all-in. - Fun & Optimism Coexist with Grit: Collaboration and celebration coincide with the intensity of building real things. DO THE BEST WORK OF YOUR LIFE AT BASE.