USC Takes Home the Silver Shovel!
On November 16, almost 300 industry professionals were at the beautiful Omni Hotel, in DTLA, to watch the student teams from the Ziman Center for Real Estate at UCLA’s Anderson School of Business and the Lusk Center at USC’s Marshall School of Business and Price School of Public Policy present their strategies and highest and best use proposals for an iconic Los Angeles site. The five-member USC team took home the Silver Shovel for their proposal titled "Sky Studios".
This year's site involves 8 acres of land located in El Segundo, CA. In 2016, an affiliate of Hackman Capital Partners, LLC ("Hackman Capital") purchased the 31.1 acre site for $92.5M. The Site, which comprises three exiting buildings totaling 540,210 square feet as well as 8 acres of excess land, was acquired from defense firm Northrop Grumman.
ABOUT REAL ESTATE CHALLENGE
Each year, USC and UCLA students compete in NAIOP SoCal’s Real Estate Challenge. Competing teams from the Lusk Center for Real Estate at USC’s Marshall School of Business and Price School of Public Policy and UCLA’s Ziman Center for Real Estate at the Anderson School of Business prepare comprehensive development proposals for a location chosen by a committee of NAIOP SoCal members. The students spend six weeks in intensive research and preparation before presenting their cases before a panel of local real estate veterans and an enthusiastic audience of over 250. Learn what drives the students to compete each year:
The Real Estate Challenge is a valuable opportunity for the students who participate to gain hands-on, real-world experience in the industry; it’s a hallmark of NAIOP SoCal’s commitment to motivating, educating and engaging the next generation of real estate professionals. In addition to the student competition, the event is a great way for the real estate community to cheer on their favorite Bruins and Trojans. The event lines up with the fall football season and the historic match-up between USC and UCLA. To increase the competition, the Real Estate Challenge features commentary from well known former athletes on the upcoming football game.
Keep reading for more information on the Challenge and its importance to the schools, as well as the benefits of having your site be the subject of the Challenge Project.
The Real Estate Challenge has become one of NAIOP SoCal’s hallmark events, and the success of past student presentations is now evident in many sites that were previous subjects of the competition – and are now thriving, go-to locations.