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Villanova hosted Real Estate Case Competition

On Friday April 4th, a four-person student from Smeal’s  Real Estate Case Competition Class (RM497A) presented their development strategy to a panel of judges comprised of Philadelphia area industry professionals.  Team members included Adam Wilson, Crista Kieffer, Rebecca Davies and Isaac Wood.

The development opportunity, titled Westerra, encompassed a 32-acre parcel located in Sunrise, Florida.  This highly visible site is only minutes away from the BB&T Center, a multi-purpose venue that hosts more than 100 major entertainment events annually, and Sawgrass Mills shopping center, a retail attraction that draws over 25 million of people to Sunrise every year.

The team proposed a mixed-use development consisting of 300,000 square feet of retail space and an 80,000 square foot self-storage facility. It included a total of 29 retail units ranging in size from 1,000 square feet to 40,000 square feet. Tenants selected satisfied the regional retail gap in the city. Some of the prospective lessees include specialty food retailers, pharmacies, discount retailers, auto part stores, and banks. The self-storage facility satisfied a market need given that the nearby density of residential communities.

The students gained valuable industry hands-on experience.  For them it is an intense sleepless week of preparation culminating with Friday’s presentation.  In the matter of days the team analyzes and comes up with a development strategy.  They research the market, financial analyze their proposal, and place all of it into a concise, highly polished PowerPoint presentation.