Minnesota Chapter of NAIOP Holds Fifth Minnesota University Real Estate Challenge

The Minnesota chapter of the National Association of Industrial and Office Properties  NAIOP), a Harrington Company client for more than 25 years and the third largest of NAIOP’s 53 nationwide chapters, recently held its fifth University Challenge commercial real estate competition.

Four teams, representing students from the real estate departments at the University of Wisconsin, St. Thomas University, St. Cloud State University and the University of Northern Iowa, competed.  Now in its fifth year, NAIOP’s University Challenge program has been a resounding success, with event attendance having more than doubled between years four and five.

In the University Challenge, competing teams were chosen to act as developers considering purchase of one of two sites - in today’s market - in the Twin Cities western suburbs for their next project. Teams were tasked with determining which site they would purchase, how they would develop the site, and the major strengths, weaknesses, opportunities and risks of their respective projects.  Teams then had to implement a development plan, a leasing plan and schedule, a financing plan including debt and equity, and a pro-forma.  NAIOP provided mentors as resources for the schools to utilize in their research.

The student teams then presented their project plans to a panel of judges consisting of commercial real estate experts, with the results announced at the event’s completion in front of an audience of NAIOP members.   For participating, NAIOP made contributions to each school’s real estate department, with the 1st and 2nd place teams receiving additional financial awards.  The University of Wisconsin won the competition and the University of St. Thomas was runner-up.

About NAIOP

The National Association of Industrial and Office Properties (NAIOP) is the nation's leading trade association for developers, owners, investors, asset managers and other professionals in industrial, office and mixed-use real estate.  Founded in 1967, NAIOP comprises 14,500+ members in 53 North American chapters.  NAIOP members promote responsible, sustainable development that creates jobs.  NAIOP supports diversity within the industry, provides education and advocates for legislation that benefits the communities in which we work and live.  The Minnesota chapter has more than 950 members and is the third-largest NAIOP chapter.