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Letter from the Executive Director

Mark J. RiedyMark J. Riedy, PhD

Think of time as one of yours and your colleagues’ and clients’ most precious assets. I believe that real estate developers, planners, architects, homebuilders and others who recognize explicitly that time is an increasingly scarce resource and integrate time considerations into their business strategies will gain significant competitive advantages over those who know it’s an issue but do not respect its potential importance.

Outlook 2013Because we can’t create more of it, consciously or unconsciously we behave in ways that free up time or make the time we have more productive. Some uses of our time we control ourselves (whether to attend a Padres game, for example). Other uses primarily are controlled by others (Parents Night at school). It’s easy to list hundreds of such personal examples. Competitively, however, the issues are larger, sometimes more subtle than others, sometimes not. 

The old adage of “location, location, location” always encompassed many characteristics, especially public transportation, the quality of schools and the driving time it takes to get to a frequently visited destination. But when the time it takes to drive children to school rises from the 10 minutes estimated when someone bought their home or rented their apartment to 20 to 25 minutes—or more—each way today, how will those parents likely react to proposed infill developments, which is a key to San Diego’s future? Or, when Sorrento Valley and other employers moved to 10-hour/four-day workweeks to create a variety of firm and employee benefits, but simply turned Friday rush hours into Thursday rush hours instead, didn’t those perceived benefits get muted because transportation planning remains a major problem?

“Smart growth” initiatives to some extent do identify time as an increasingly scarce resource. But the inadequacy of urban infrastructure is so severe that smart urban infill development on any large scale will be extremely expensive, resisted by many, and give elected and appointed government officials even more leverage over commercial real estate than they already exert today.

I am not seeking to offer answers as much as provoke real estate professionals to set aside some time (ah ha!) to consider time as a key element in their future business strategies. Once opportunities for saving time and/or making it more productive are identified, figure out where the constraints are and how your firm or the industry—through groups like NAIOP, ULI, BIA and SDAR, to name but a few—can take the lead in removing barriers.

I urge you to ask yourself: If I wanted to free up more time or make it more productive for myself, colleagues and/or clients, what could I do? And what would it take to allow me to do it? You will come up with an eye-opening list of opportunities, some of which can become competitive advantages. Remember, the clock is ticking.

Dr. Mark J. Riedy
Executive Director

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MSRE Students Visit Westfield UTC

Westfield UTC
MSRE students tour the Westfield UTC expansion space with (from far right) Professor Charles Tu, Ron May ’07 (MSRE) and Ryan Perry.

On Nov. 30, MSRE students met with Westfield’s design, leasing and asset management teams who have worked on the Westfield University Towne Center (UTC) Mall renovation and expansion project. The meetings were part of the students’ “Strategic Management of Real Estate Assets” course taught by Professor Charles Tu, PhD.

During the visit, students heard presentations from: Ron May ’07 (MSRE), interim general manager at Westfield Mission Valley; Ryan Perry, general manager at Westfield Mission Valley; Randy Galang, vice president of architecture and design; Adam Corti, senior leasing manager; and Robert Graham, senior vice president of leasing-San Diego. At the conclusion of the visit, students toured the new Arclight Cinemas mezzanine, where Greg Fitchitt, vice president of development, described the project’s phases and plans for a grand re-opening.

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BMC Hosts Alumni Association Event in San Francisco

Alumni Event in SF
On Nov. 13, the Burnham-Moores Center hosted a Real Estate Alumni Association event at B Restaurant & Bar for USD alums in the Bay Area who work in real estate. BMC faculty and staff were in town for the Greenbuild 2012 conference. (Pictured from left to right) Walter Chui ’10 (MSRE)/’11 (MBA), Student and Alumni Services Manager Annie Grand, Jake Albini ’11 (MSRE), Professor Norm Miller, Matt Manteuffel ’11 (BBA), Sach Kirpalani ’09 (MSRE), Anthony Vieira ’11 (BBA), Executive Assistant Myla Wilson, Hayden Healy ’11 (BBA), Matt Mulry, Kevin McPhee ’99 (JD)/’00 (MBA), Matt Pioli ’05 (BBA) and Sunny Patel ’10 (MSRE).
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Silvergate Scholarship Awarded to MSRE Student

Bryan Masters
Bryan Masters

MSRE Student Bryan Masters is the first recipient of the newly created Silvergate Bank scholarship. The scholarship is valued at $2,500. Silvergate Bank, which has been operating in San Diego for the past 24 years, is headquartered in La Jolla and has five branches. “It’s always nice to see a local company like Silvergate Bank provide opportunities for students in the area,” Masters says. “I’m honored to be the first recipient and very grateful for Silvergate’s generosity.”

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Continuing Education Students Attend Graduation Ceremony

Dec. 6 marked the graduation ceremony and completion of the University of San Diego’s real estate continuing education program for 13 students who each received their Certificate in Finance, Investments and Development and/or the Certificate in Entitlement, Development and Design. The real estate students who completed the program included: Dalton Bray, Albert Carrol, Tolga Horoz, David Kuchinsky, Jessica Lawrence, Christopher McGrath, Kimberly Pavel, Alexander Ricciardi, Adam Ridgeway, Sergio Serrano, Christian Vaccaro, Eriberto Jr. Valdez and Kelley Waynick.

The next real estate continuing education course—“Real Estate Finance” taught by Dan Phelan, president and CEO of Pacific Southwest Realty Services—begins Jan. 8, 2013. Go here for more information or to register.

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MSRE Students Present on I.D.E.A. District

Matt Bean
MSRE student Matt Bean presents his team’s tenanting strategy and vision for downtown San Diego’s I.D.E.A. District to I.D.E.A. Partners principal Pete Garcia, Professor Norm Miller, Executive Director Mark Riedy, and fellow MSRE classmates. The I.D.E.A. District is a unique urban, mixed-use project in downtown San Diego that focuses on Innovation, Design, Education and the Arts. As part of their “Real Estate Market Analysis” class, students conducted an analysis of the tenants that make sense for the district and the phasing, anchors and services required for a successful live/work/play environment. Bean worked on a team with Tucker Hughes and Nick Norris, who also presented Dec. 4. Other teams offered a wide variety of design and technology tenants, as well as retail concepts and restaurants that would suit the area.
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Norm Miller Speaks at Greenbuild 2012

Miller
Norm Miller, PhD

Professor Norm Miller, PhD, moderated a sustainable development panel during this year’s Greenbuild International Conference and Expo, held in San Francisco Nov. 14-16 by the U.S. Green Building Council. The panel, which attracted approximately 200 attendees, discussed the topic, “Energy Disclosure Policy: Data Transforming Markets.” Panelists included: Barry Hooper, with the city of San Francisco’s Department of the Environment, and Rebecca Baker, with the Seattle Office of Sustainability & Environment.

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Real Estate Alumni Association Recruiting Board Members

REAA logoThe University of San Diego Real Estate Alumni Association (REAA) is currently recruiting members for its REAA Executive Board. Appointments begin in January 2013 and continue for two years.

The association is seeking members who are focused on the goals of continued growth and improved service to members. Board members benefit from the opportunity to give back and to connect with leading alumni and the Burnham-Moores Center for Real Estate more closely. For position requirements, go here. For questions, contact Annie Grand at (619) 260-7619.

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MSRE Alums, Students Attend Annual Holiday Party

MSRE Holiday Party
On Dec. 6‚ past and present MSRE students, their families and Burnham-Moores Center faculty and staff celebrated the holiday season at the MSRE annual holiday potluck, held at The Lido Club House in Mission Valley, which was hosted by resident Trevor Hubbard ’05 (MSRE). (Left to right) Wren Arnett ’10 (MSRE), Tony O'Neill ’07 (MSRE), Eric Held ’12 (MSRE/MBA), Bob Brittingham ’02 (BBA), ’10 (MSRE), Lawrence Kopp ’10 (MSRE), Alex Leonard ’12 (MSRE), Mike McAllister ’10 (MSRE), Trevor Hubbard ’05 (MSRE), Mike Argier ’11 (MSRE), Alison Mandelbaum ’12 (MSRE), Daniel Buoye ’12 (MSRE), Carey Algaze ’12 (MSRE/MBA) and current MSRE student Gregor Connors.
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Two Courses Added to Undergraduate Real Estate Program

Two new courses have been added to USD’s undergraduate real estate program: “Management of Real Estate Assets” and “Real Estate Market Analysis.” The two new courses complement the existing real estate curriculum by offering students interested in a real estate career more options and by providing the real estate community with better-prepared graduates. The proposals for the new courses received unanimous support from the Economics/Real Estate faculty and from the members of the School of Business Administration’s Undergraduate Studies Committee.

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MSRE Students Curate Content on CRE Topics

Six Master of Science in Real Estate students have begun curating content on a range of topics related to commercial real estate. The students and topics they are curating are:

• Inna Panchuk: Innovative Design in Commercial Real Estate;
• Tony Konstant: Foreign Real Estate Investment Considerations;
• Thomas Bobo and Skye Moreland: Commercial Real Estate Sustainability Strategies;
• Bryan Masters: Global Capital Market Trends; and
• Justin Farrar: Construction Innovation.

The students are curating the content as part of a new collaboration with MIPIM, a leading international real estate organization that hosts an event in Cannes, France each year, which is attended by 10,000+ commercial real estate professionals. Several of the MSRE students will attend the MIPIM 2013 conference as roving bloggers, attending sessions and using social media platforms to share the major messages with MIPIM’s global audience. Professor Norm Miller will speak at the conference as part of the “Smart investment – Manage innovation for better return on investment” panel, which is scheduled for March 14.

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Real Estate Society Speaker Presents on Property Management

Fraizer Crawford
On Nov. 29, more than 30 undergraduate students attended the final Real Estate Society meeting of the Fall semester, where they heard from Frazier Crawford, executive vice president and property manager at ConAm Management Corporation. Crawford discussed his career in property management and gave tips and insights for those who may be interested in the field.
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Diane Gustafson Receives Award from SBA

Diane Gustafson
Diane Gustafson

Communications Coordinator Diane Gustafson has received the School of Business Administration’s Outstanding Service Award for her exemplary contributions to the Burnham-Moores Center. Gustafson received three nominations for the award, which was given to her at the SBA’s annual holiday party held Dec. 6. Her nominees lauded her for her “thoroughness and preparedness,” “consistently superior judgment” and “loyalty and dedication.” Gustafson began working at the Center in 2009.

Back to TopIn the News

Professor Norm Miller’s opinion piece, “The Argument for Risk-Based Appraisals,” which he co-authored with James R. Follain, PhD, and Michael Sklarz, PhD, was published in the September/October 2012 edition of AVM News.

Norm Miller, PhD, and associate professor Alan Gin, PhD, were included in the Nov. 9, Nov. 16, Nov. 23 and Nov. 30 editions of the San Diego Union-Tribune’s weekly “EconoMeter.”

Norm Miller, PhD, was quoted in a Nov. 28 San Diego Union-Tribune article on home price increases in the past year.

Alan Gin, PhD, was featured in The Daily Transcript, the San Diego Business Journal, SDMetro.com and KPBS following his most recent release of the USD Index of Leading Economic Indicators for San Diego County, which he compiles for the Burnham-Moores Center.

Back to TopCalendar of Events

WEDNESDay, DEc. 12, 2012

13th Annual Residential Real Estate Conference: Outlook 2013 featuring David Crowe, PhD, chief economist of the National Association of Home Builders

  • 7:30 – 8:30 a.m. Networking and Breakfast
    8:30 – 10:30 a.m. Program
    10:30 - 11 a.m. Networking
  • Joan B. Kroc Institute for Peace & Justice, University of San Diego campus
  • $60 per person or $500 for 10 reserved seats
  • Panel includes: Paul Barnes, president of the San Diego Division of Shea Homes; Marty Conrad, regional vice president-San Diego Region of Coldwell Banker Southern California; Vince Kasperick, founder and president of AimLoan.com; and moderator George Chamberlin, executive editor of The Daily Transcript.
  • To register, go here.
  • For more information, contact Diane Gustafson at (619) 260-2379.

FRIDay, MARCH 8, 2013

17th Annual Real Estate Conference – Save the date!

  • 7:30 a.m. – 12 p.m.
  • Hilton San Diego Bayfront, One Park Blvd., San Diego, 92101
  • Speakers include: Malin Burnham, Irwin Jacobs and Ernest Rady
  • For questions or sponsorship opportunities, contact Diane Gustafson at (619) 260-2379.

Back to TopContinuing Education - Upcoming Courses and Seminars

STARTS TUESDay, Jan. 8, 2013

Real Estate Finance

Course

THURSDay, JAN. 10, 2013

Real Estate Process Seminar

SEMINAR