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TAMPA, Fla., Feb. 12, 2015 /Standard Newswire/ -- The SIOR Florida Chapter has announced a new initiative which gives Florida masters in real estate students the opportunity to gain real world commercial real estate experience and possibly a portion of a $10,000 grant prior to graduation. The program is called The SIOR Florida Challenge Grant. It allows teams of five-to-seven students at a selected school to:
- Review an actual real world commercial development project
- Identify opportunities to maximize the development potential of the project.
- Make recommendations to the developer to enhance the profitability and market visibility of the project.
Each team of students formally presents their recommendations to the development company that owns the project. Members of the development company select the winning teams. The first place team receives $7,000 and earns an "A" in a required study assignment for market analysis feasibility. The second place team receives $3,000. The competition is funded by the SIOR Florida Chapter (Society of Industrial and Office Realtors) and the non-profit SIOR Foundation.
The inaugural competition, held in December 2014 included students from The Wayne Huizenga School of Business at Nova Southeastern University currently enrolled in the Master of Science in Real Estate Development Program. Three competing teams were established.
The winning team will be announced at a presentation on February 26, 2015 at 3:00 pm at the Wayne Huizenga School of Business at Nova Southeastern University, 3301 College Ave., Davie, FL in the Carl DeSantis Building: Room 1126. The presentation will be followed by a networking event sponsored by the Realtors Commercial Alliance of Miami. The public is welcome and encouraged to RSVP at bit.ly/SIOR_Grant.
The commercial developer selected by SIOR was DCT Industrial, a publicly traded organization with a portfolio of properties across North America. DCT submitted Phase II of DCT Commerce Center in Doral, a proposed Class "A," 425,000 square foot industrial development West of Miami International Airport. Students were asked to analyze and improve the project as it related to competing properties, and investigated target markets, international commerce opportunities and building characteristics before presenting their analysis and conclusions to the developer.
"We were impressed with the creativity of some of the recommendations by the students. There were certainly some 'out of the box' options that we may not have otherwise considered," said Todd Watson, Regional Vice President of DCT Industrial.
