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10/10/24
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NAIOP SoCal’s popular real estate challenge returns on November 21 when a five-member graduate student team from the Ziman Center of Real Estate at UCLA’s Anderson School of Business competes against a five-member graduate student team from the Lusk Center at USC’s Marshall School of Business and Price School of Public Policy in a head-to-head battle to determine the highest and best use for a unique parcel of land in Southern California. This is the 27th annual competition between these two storied universities with UCLA leading 14-12.
Each year the NAIOP SoCal UCLA vs USC Real Estate Challenge further celebrates the longstanding rivalry between the schools and is held just days before the much-anticipated football game between the two universities.
For 2024, the competition site is a 9.27-acre parcel within the partial redevelopment of the broader 142-acre Raytheon Campus in the city of El Segundo. The site consists of three parcels in an irregular shape located at the intersection of El Segundo Blvd and Nash St. The surrounding area reflects a variety of different uses, including retail, office, hospitality, industrial, and the Los Angeles Chargers football team headquarters. One of the parcels is bisected by the El Segundo green line metro station which provides transportation options for residents, employees and visitors.
In 1978, the city of El Segundo approved a plan on 142 acres to allow for a 2.5 msf+ corporate campus that would incentivize Hughes Aircraft to relocate its corporate headquarters from Culver City to El Segundo. In 1997, Hughes Aircraft merged with Raytheon, and the successor company RTX continues to operate at the site today. In 2011, RTX executives recognized the campus was underdeveloped and engaged Continental Development and Mar Ventures to lead a re-entitlement effort to allow for renewed flexibility around its campus as well as invite new uses to the area.
“This year’s challenge is a blank slate redevelopment opportunity for the student teams to flex their creativity as they seek to identify the highest and best uses that are feasible for this El Segundo site,” said Greg Brown, Chair, NAIOP SoCal UCLA vs. USC Real Estate Challenge and Senior Managing Director and co-head of the Orange County office of JLL Capital Markets, Americas. “It’s a great event for our industry and provides a fantastic forum for these young people to demonstrate their expertise.”
To claim victory and the sought-after Silver Shovel, the winning student team must accrue the most points during written and oral presentations from the judging panel that includes a diverse collection of high-profile real estate industry and public sector leaders.
The UCLA student team includes Lauren Gargano, Dan Wood, Ryan Weir, Andrew Hemberger, and Holly Ulicki. The USC student team includes Austin Risley, Jonathan Moftakhar, Alexandria Gordon, Austin Adams, and Sagiv Hartmayer.
“Once again, the real estate challenge will provide the students an iconic site to explore as they work through their final presentation. I look forward to what they will each present and appreciate the support from Continental Development, Mar Ventures and the City of El Segundo this year,” said Tim Jemal, CEO, NAIOP SoCal.
The event will begin at 5:30 p.m. on Thursday, November 21. To learn more, visit the NAIOP SoCal website HERE.
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