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This version of NSU News has been archived as of February 28, 2019. To search through archived articles, visit nova.edu/search. To access the new version of NSU News, visit news.nova.edu.

This version of SharkBytes has been archived as of February 28, 2019. To search through archived articles, visit nova.edu/search. To access the new version of SharkBytes, visit sharkbytes.nova.edu.

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Division of Public Relations and Marketing Communications
Nova Southeastern University
3301 College Avenue
Fort Lauderdale, Florida 33314-7796

nova.edu/prmc

SharkBytes Archives

Contact

Division of Public Relations and Marketing Communications
Nova Southeastern University
3301 College Avenue
Fort Lauderdale, Florida 33314-7796

communications@nova.edu

NSU Students in Real Estate Program Win Second Annual NAIOP/ULI Collegiate Challenge

(Photo caption: NSU students accept First Place trophy after winning the 2nd Annual NAIOP/ULI Collegiate Challenge. L to R: Michael Maxwell – NSU Real Estate Program Interim Director;  Hugo Hernandez – NSU Real Estate Program MSRED student; Mark McCann – NSU MSRED graduate 2012 (behind Hugo); Claudia Gutarra – NSU MSRED graduate 2012 (holding trophy), candidate for CCIM; Eric Swanson – Incoming South Florida NAIOP Chair 2012/2013 / Challenge Chairman & ULI Southeast Florida / Caribbean District Council Chair, NSU Real Estate Advisory Board Member, Executive VP Flagler Development; Joel Garcia – NSU MSRED graduate U MSRED graduate 2012; Andrew Remick – NSU MSRED graduate 2012; Kenny Tharrington – NSU MSRED student; James Baxter – NSU MSRED graduate 2012.)

A team of students in the Real Estate program at the H. Wayne Huizenga School of Business and Entrepreneurship won the 2nd Annual NAIOP/ULI* Collegiate Challenge, which was held on Thursday, Apr. 5. Teams representing graduate-level real estate programs from the Huizenga Business School, University of Miami and Florida International University competed. The Challenge was the second of its kind held in South Florida, the first having taken place at NSU in 2010 between teams from NSU and the University of Miami. The Huizenga Business School team also won in 2010.

This year’s NSU team created a mixed-use development concept for a 32-acre parcel in Sunrise, Florida owned by the Stiles Company near Sawgrass Mills Outlet Mall and the Bank Atlantic Center. The seven-person team was comprised of Claudia Gutarra, Andrew Remick, Mark McCann, Hugo Hernandez, Jim Baxter, Kenny Tharrington and Joel Garcia.

The team’s winning concept was the result of extensive market research and feasibility analyses conducted by team members, refined by highly detailed financial analysis modeling of each of the project’s uses – retail, class A office space and multifamily rental. The team researched all the aspects required to develop the project from detailed analysis of construction costs and financial requirements to obtain debt financing and equity investment.

The Team’s concept:  “The West Village” a 21st Century mixed use urban center of mid-rise building surrounding a lake and urban green where residents could live work and play without being required to use their cars. The development program proposed 127,000 square feet of retail, upscale grocery, restaurant, entertainment and services on the first floor of 4-story office buildings framing the urban green and fronting the lake.

It also includes 210,000 square feet of class A office building above the retail space and in two stand-alone buildings fronting the lake, and a 578 apartment-home community with full amenities.

The team relocated scattered water retention areas on the site to create a large central lake and the focus of the development. Then retail components were designed to reinforce and strengthen the attraction to the site of the residential component.

The team’s sponsor and faculty was Michael Maxwell, Interim Director of the Huizenga Business School’s Real Estate Program. Professor Maxwell recently was awarded the prestigious Robert M. O’Donnell Award from the Urban Land Institute for his contributions to urban redevelopment with ULI Advisory Panels.

A few words from the panel of judges:

Vince Signorello, President, Flagler, Miami: “Well organized analysis, easy to navigate. Best of all groups in competition.”

Mary Jo Eaton, Senior Managing Director, Florida CBRE: “Great vision for project.”

Bob Swindell, President & CEO, Greater Fort Lauderdale Alliance: “Enthusiasm was clearly and effectively communicated. Confident and powerful statements in response to challenge questions.”

Joseph Schrage, SVP Branch Manager, Berkadia: “They understood why they made their decisions and supported them well.”

S. Bakas, Architect, Architectonica: “Each sector was well documented through narrative and simple graphics. Explained issues with cost impacts to development and DRI revisions. Excels in readability, salesmanship, representation of sometimes dry data into an interesting story.”

Bruce Retzch, Managing Principal, RLC Architects: “…development of “place making” is unique in this area.  Site plan reinforces the development concept and further illustrates redevelopment potential of existing [Sawgrass Technology Park]. I might not have agreed with all of their answers, but they had the courage of their convictions.”

Steve McCraney, President & CEO McCraney Property Company: “Sound fundamentals. Strong pitch. Documented support with the written backup.”

Terry Stiles, Chairman and CEO, Stiles: “The [Team’s] segmentation of the product type allows for a separation of capital structure meaning each component can stand on its own.”

The team wishes to thank its mentors and coaches in the 2012 NAIOP Challenge:

Mark Peterson – SVP Bank of America and Board Member NSU Real Estate Advisory Board, Florida / National – for his commitment to real estate education and mentorship of future leaders.  Mark served as NAIOP’s liaison to the NSU team.

Tony Trella, President, Meranth Company – For his committed mentorship and cultivation of leadership in real estate education at NSU.

Harry Posin, President, Label & Company –For his dedication to the future leaders of the real estate industry

Gene Berman, Managing Director, Marcus and Millichap – Member NSU Real Estate Advisory Board, Florida / National – For his commitment to improving student skills in communications.

EDSA –  For the firm’s commitment to mentoring the emerging leaders in the real estate industry and for their generous assistance to the team.

Kona Gray, Principal, EDSA – for his professional assistance in planning and urban design.

Douglas Smith, President, EDSA – for his leadership and guidance in planning and urban design.

Richard Zimmer, President, Zimmer Construction Consultants for providing the team with construction and development cost.

Michael Maxwell – Interim Director Real Estate Program, Managing Partner of MAXWELL+Partners – for his leadership, coaching and mentorship of the team.

*NAIOP/ULI  stands for National Association of Industrial and Office Properties/Urban Land Institute.

The NAIOP is the Commercial Real Estate Development Association, and the leading organization for developers, owners and related professionals in office, industrial and mixed-use real estate. NAIOP is comprised of 15,000+ members in North America and advocates responsible commercial real estate development and advocates for effective public policy.

ULI, the Urban Land Institute, is a 501(c) (3) nonprofit research and education organization supported by its members. Founded in 1936, the Institute now has members in 95 countries worldwide, representing the entire spectrum of land use and real estate development disciplines working in private enterprise and public service.