NAIOPWA Real Estate Challenge Announces Alexandria as 2021 Site Sponsor

NAIOPWA’s Real Estate Challenge Committee is proud to announce the 2021 Site Sponsor, Alexandria Real Estate Equities, Inc! The Real Estate Challenge is a development case competition in which students at three regional universities take on the role of developer. Each year, students focus on a different site and craft creative, innovative development proposals. Teams present their proposals to a panel of notable developers and investors, who adjudicate the winner of the Challenge and recipient of the coveted Bob Filley Cup.

In 2021, students will focus on 1600 Eastlake, a former Bank of America retail location which sits at the heart of the Eastlake Life Science Campus by Alexandria. Surrounded by over 1MM SF of office and laboratory projects that are home to some of the world’s most cutting-edge companies, the 4,200 SF former bank branch will serve as a retail hub and activation point for the entire area.

The 18th Annual Challenge will kick off in early January as students are introduced to the site and the Eastlake submarket. Over the course of the winter quarter, students will meet with Seattle real estate market experts – architects, land use attorneys, brokers, general contractors, financial analysts, developers, and investors – as they craft and refine a development proposal for judging. The Challenge presents an unparalleled opportunity for students to familiarize themselves with a submarket, apply their academic experience, conduct market and financial analysis, and meet leaders in the Seattle commercial real estate community.

“The NAIOP Real Estate Challenge was an exciting opportunity to build a real-world investment case analysis and present our work for critical feedback. The Challenge was demanding but ultimately was one of the most educational, rewarding, and memorable experiences of my time as a Master of Real Estate Development student.”

- Andrew Goodman, Assistant Vice President – Development, Harsch Investment Properties, 2019 Real Estate Challenge participant on the winning PSU team

NAIOPWA is excited to partner with Alexandria and is looking forward to kicking off the 2021 Challenge!

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