KENNESAW State University’s Coles College of Business offers a unique course in their entrepreneurship portfolio entitled Commercial Real Estate Ventures. The course surveys the basic principles of commercial real estate development and investment.
The course takes a look at the entrepreneurial process and economics behind the development of retail properties such as shopping centers and freestanding retail buildings, e.g. chain restaurants, banks and other retailers commonly seen near and around shopping centers.
Students in the class are now developing ideas about where the next great wave of real estate financing will come from
In addition to ground up development, the course teaches some tactics of renovating and rehabilitating of older properties in order to add value to the property.
The Commercial Real Estate Ventures course covers these main topics:
- Financial analysis and financing the project
- Site preparation
- Design and construction
- Private/public relationships
- Marketing and leasing
- Property and asset management
- Contracts and legal considerations
- Disposition, refinancing or (tax deferred) exchanging of property
The course also incorporates how to develop and profit from green, sustainable properties. Students engage in discussions that include how future technology can be an income generator for commercial real estate.
Since variables surrounding real estate are constantly changing, the course is updated every semester to keep students on the frontline of real estate ventures. Two years ago commercial mortgage backed securities played an important part of real estate finance. Today those same securities are relegated to the history of real estate financing. Students in the class are now developing ideas about where the next great wave of real estate financing will come from
Class speakers are invited from a variety of backgrounds: general contractors, engineers, attorneys, and location selectors from various companies like Wal-Mart and Chick-Fil-A.
Instructors use actual property transactions as case studies and share proven negotiating tips and sales techniques. Students often remark how much they learn from the anecdotes of real-world war stories and how much they enjoy being involved in the drama of deal making.
Students are given individual and groups assignments using skills learned in class. Projects range from simple tasks like making recommendations to improve the visibility of a property near the campus, to more ambitious and comprehensive projects of developing a property from the ground up or a total renovation of an older well-positioned property.
