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Students from Cornell University took first place at an annual real estate challenge for business students at RECon this year.
The ICSC & Cornell International Retail Real Estate Case Competition took place over two days at RECon, during which teams from a dozen universities put together proposals to bring a retail real estate property to life. A panel of industry professionals then evaluated the submissions. The identity of the university behind each submission was kept from the judges.
“There are four members on each team, and they’re given information about the case, where it’s located, the situation of the property,” said Cristina Carter, program manager for Cornell’s Center for Real Estate and Finance. “The students do a test analysis and put together a proposal for the direction of the project. When they present to the judges, it’s like the judges are potential investors and the students are trying to gain their money based on the merits of their proposal.”
The Cornell team received $10,000. Second place went to The University of Queensland (Brisbane, Australia), and the University of Guelph (Ontario) came in third.
“The goal of this event is to connect students with industry leaders by providing an authentic investment-analysis experience for the students,” said Daniel Quan, a professor at Cornell. “The university teams participating in the competition represent the future of the real estate industry. While the judges are tasked to select the top team among all teams, their main purpose is to provide the students with the opportunity to engage and learn from them.”
