Congratulations to this year’s Real Estate Challenge winners: TEAM USC!
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 NAIOP SoCal committee 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 close to 300.
It was a tough challenge to say the least.
This year’s Real Estate Challenge site uniquely reflects Orange County’s evolution and history.
For 2019, the student teams presented their proposed plan for a 15-acre site located at the major intersection of Beach Blvd. and Katella Ave. in the city of Stanton. The site is owned by ORCO Block and Hardscape, a leading Southern California manufacturer of block and hardscape.
It was 1946, when Pete Muth, his father, brother-in-law, and an outside business partner established ORCO Block Co. At the time, it was very much a hand operation. ORCO grew quickly and now operates in seven locations throughout Southern California including a mortar bagging plant, and state-of-the-art Pavingstones facility dedicated to only paver production, servicing the western United States entirely.
The student teams crafted a redevelopment plan that maximizes long-term economic benefits of the site for the family members and owners of ORCO, while accomplishing the goals of the City of Stanton of increasing and diversifying revenues to the City and creating areas for high-quality jobs, retail and housing.
On November 21, a panel of high-profile industry commercial real estate leaders awarded points on the student teams’ written and oral presentations to determine the winning idea and award the coveted Silver Shovel.
Thanks for the support from our sponsors, judges and guests, whom were all there to cheer on their favorite team(s) and to hear what the students proposed for this historic manufacturing site in the heart of Orange County!