Overview. Real estate is a space-time, money time asset that is durable and has an enduring quality. Thus, the development of an asset is only a part of the overall life cycle. To be successful, real estate must be managed in a proactive manner that responds to changing tenant needs and competitive market conditions. Real estate asset management addresses these needs at a segmented level, viewing real estate through the eyes of major classes of users and uses broken down along property type lines including office, retail, industrial, apartment and hotel. More recently, agricultural and timber properties have also emerged as viable property sectors. This course will allow students to explore the spatial requirements of these major user types, approaching them from a behavioral perspective that is empathetic to their needs and responsive to emerging trends and market forces. The course will also cover more micro-management of real estate, including property management that deals with the day-to-day operations of individual facilities. Finally, the course will address redevelopment and renovation decisions that are designed to modify and/or prolong the useful life of individual assets to create more sustainable and effective resource deployment.

Positioning. This is a required course explores how real estate decisions can be approached in a strategic manner, focusing on enduring and value-enhancing decisions.

Spring Quarter: TBD

Instructor: TBD