DLI Class # 1 – Overview; Everything Encompassing Commercial Real Estate
DLI Class 2020 has officially begun, with the kickoff class being held October 21, 2019 at the Logic Commercial Real Estate office.
Rick Myers, President of Thomas & Mack Development Group, led the class through a brief overview of many key items as they relate to commercial real estate. From finances and development, to markets and segments, Rick discussed important industry terms and practices to take note of as the class moves forward.
In addition to the overview of commercial real estate, Rick had asked the class to come prepared to class by reading an article depicting the perseverance, forward thinking and industry knowledge that allowed T. Boone Pickens to accomplish a market takeover. Beautifully articulated, this article was sure to inspire awareness and foster motivation among the students.
Rick, a true mentor and leader, taught this first class with great passion in building up the next generation of our future leaders in the commercial real estate industry. The importance of being knowledgeable, in all topics of interest, was stressed throughout the duration of the class. “To be interesting, you must first become interested.” A profound statement, that will forever hold meaning to DLI students and graduates.
In conclusion of the first DLI kick off class, students that were nominated to become class president and class vice president were asked to give their speeches prior to the final vote. The votes were counted, and the announcement was made. Thomas Godbout, Vice President of Commercial Lending for First Savings Bank was elected as class President. Christina Stanfill, Director of Project Development for WORTHGROUP Architects & Designers was elected as class Vice President. Congratulations to both!
MDL Group sponsored this class and gifted the students with a copy of The Five Dysfunctions of a Team, by Patrick Lencioni. A huge thank you to Hayim Mizrachi and Jarrad Katz for continuing to support the DLI program.
DLI Class # 2 – Site Selection
The DLI class met on November 18, 2019 at the Logic Commercial Real Estate office where students learned about site selection, as it relates to development.
The class began with speaker John Restrepo, Principal of RCG Economics. John oversees economic and financial consulting activities and is an expert in regional economics, market issues and forecasting. John was very informative on the current status of the market and proved to be insightful in leading the class through his detailed reports.
The class was then provided with an array of completed projects on behalf of Jeff LaPour, Founder and President of LaPour, to examine each in great detail. From the initial site selection, development type, risks, hurdles and even an in depth understanding on navigating difficult sellers – Jeff covered it all! The class remained engaged and participated with an open dialog. Students learned that considering out of the box factors while navigating this early process of development proves to be crucial for successful project completion.
Further networking took place at the post class mixer located at SG Bar.
Thomas & Mack Development Group sponsored this class and gifted the students with a copy of Quiet Kingmaker of Las Vegas E. Parry Thomas, by Jack Sheehan. A huge thank you to Thomas & Mack for continuing to support the DLI program.
DLI Class # 3 – Due Diligence
The DLI class met on December 9, 2019 at the Logic Commercial Real Estate office where students learned about all things related to due diligence, entitlements, permitting and scheduling.
With three presenters, all related to the due diligence phase of a project, the class had a lot of valuable information to retain.
The first speaker, and class sponsor, was George Garcia of G.C. Garcia Inc. Identifying his firm as “the red tape Sherpas” that assist with the complex navigation of regulating tools, George discussed the importance of investing in the costs associated with due diligence up front, to save time and money later on. Offering enlightening examples of the many assumptions made in the initial planning of a project, the class learned the implications to schedule, site layout and costs when due diligence is not exercised early on.
Matthew Weinberger, business development manager for Geotechnical & Environmental Services, Inc. (GES) provided further information on due diligence as it relates to the geotechnical and environmental considerations. The class was provided with the many reasons in which this portion of due diligence is of such importance. This discussion included learning about the need for an environmental site assessment to offer early detection of fault and fissure locations, groundwater depth and soil conditions, and how they can all effect the construction costs and/or timeline of a project. Matthew further advised that it is always a good idea to get one-page geotechnical report up front to mitigate the potential negative impact on the overall Pro-Forma of a project.
Lastly, Marianna Hunnicutt, with Kimley-Horn and Associates, provided the class with an interactive approach in learning about the project site and civil engineering considerations for due diligence. In addition to learning about which agencies have jurisdiction on a project site, and the importance of knowing these entities, Marianna discussed survey and mapping, grading and drainage, traffic, utility service availability and existing conditions / constraints on a site. The class was especially responsive to an in-class assignment, in which they had to identify a proper layout for an industrial project on a site, as it related to grading and drainage. The class was all in on participation and enjoyed the hands-on learning experience.
Further networking took place at the post class mixer located at SG Bar, where several Board Members and DLI Alumni showed up to greet the class.
A huge thank you to G.C. Garcia Inc. for continuing to support the DLI program and sponsoring this class.
2020 DLI Class Vice President
Christina Stanfill, Director of Project Development
WORTHGROUP Architects & Designers