Site Feasibility and Market Analysis

Site Feasibility and Market Analysis

Site Feasibility and Market Analysis

The Site Feasibility and Market Analysis course is designed for the intermediate experienced- level real estate professional. The course starts with an analysis of macro- economics that drive and support the demand for real estate development. Students explore how to navigate through the capital considerations of a project to include the cost and availability of financing. The underlying contributors to supply, what drives the demand for development and the potential political, legal and regulatory challenges are also examined. As the site feasibility study process continues, each of the due diligence check points are defined and examined. Once the research process leads to consideration of a specific site, learners will identify and analyze the physical attributes, environmental considerations and potential issues with the project.

This course is also available on-demand.

Lesson Plans

Module 1

Overview and Market Analysis - Defining the Problem

Time: noon - 2 p.m. (Eastern Standard Time)

Date: May 3, 2017

In this session we will discuss the first step in the Feasibility Study Process: Defining the Problem. We will cover property analysis, site analysis checklist, and location analysis.

Facilitator for this Lesson:
Joan Woodard

Joan Woodard

President & CEO

Simons & Woodard Inc

Santa Rosa, Califorina

Subject Area: Essentials of the Development Process, Advanced Development Practices, Leasing Marketing and Negotiation, Site Feasibility and Financial Analysis of Development Projects

Joan Woodard is president and CEO of Simons & Woodard – a Santa Rosa, California, based management, architecture and development firm. She is responsible for overseeing the organization’s architecture, marketing, leasing, property, and management activities. A member of NAIOP since 1987, Ms. Woodard was chair of NAIOP’s National Board of Directors in 1994. She was also a member of the Private Developer II Forum, chair of the Awards Committee, and was president of the Georgia Chapter. Ms. Woodard is currently a committed faculty member of NAIOP’s Center for Education.

Module 2

Market Analysis

Time: noon - 2 p.m. (Eastern Standard Time)

Date: May 10, 2017

In this session we will discuss the second step in the Feasibility Study Process: Market Analysis. We will address three basic questions:

  1. Will there be users to rent or buy the proposed project;
  2. How quickly, and at what rent or price, will the proposed project be absorbed into the market;
  3. How might the project be planned or marketed to make it more competitive in its market.
Facilitator for this Lesson:
William Klein

William L. Klein

President

Kay Realty Services LLC

Ocean, New Jersey

Subject Area: Essentials of the Development Process, Advanced Development Practices, Leasing, Marketing and Negotiations, Site Feasibility and Financial Analysis of Development Projects

William Klein has been a recognized leader in all facets of real estate investment for more than 40 years. He has participated in numerous transactions, (many as a managing principal), in all asset classes in the industry. Since 1994, Klein has been the CEO of Kay Realty Services., one of the New Jersey shore's innovative real estate investment firms, which he founded on a theme of "value-added" strategies. He acts as managing member of all Kay Realty Holdings assets. He is also CEO of Smitty's Super Foodtown Stores, a 2 store supermarket which anchors two of his shopping centers.

Prior to KAY REALTY, Klein held key senior management positions in several national and regional development firms such as K Hovnanian and Dyson Kissner Moran where he created over three million sf of class A properties. Earlier, he served as chief appraiser of Central Savings Bank of New York and a senior executive and leader of Joint Ventures in the Home Life Insurance Company's mortgage investment division.

Klein holds a bachelors degree in economics from Upsala College and has completed professional graduate courses in real estate at Harvard University Graduate School of Design, Rutgers University and New York University. His appraisal training was provided by the American appraisal institute (MAI). He is a licensed broker in the state of New Jersey.

Module 3

Market Analysis – Supply and Demand Analysis

Time: noon - 2 p.m. (Eastern Standard Time)

Date: May 17, 2017

In this session, we will continue to cover the second step in the Feasibility Study Process: Market Analysis. We will discuss Supply and Demand Analysis.

Facilitator for this Lesson:
Patricia Delgrande

Patricia Delgrande

Chief Operating Officer/Chief Finance Officer

DN&E Walter & Co.

Subject Area:

Ms. Delgrande has nearly 25 years of finance and real estate experience. After receiving her MBA, she started her professional career as a business operations and strategy consultant. She then joined Arthur Andersen as a Tax Manager, serving a client base consisting of large public REITs with multi-tiered partnership structures. To broaden her client-side real estate exposure, Ms. Delgrande became the VP of Finance for a group of privately-owned real estate holding companies, with industrial and commercial office holdings in the Central Los Angeles and Bay Area markets. Ms. Delgrande has held a variety of positions over the years and is now COO and CFO.

Ms. Delgrande focuses on creative, value-add acquisitions and redevelopment projects. She has completed well over 1 million sf of leasing, acquisition and exchange transactions of redeveloped or improved industrial and tech-oriented properties. She has a deep understanding of all aspects of the real estate business, from site selection to land use feasibility analysis, acquisition due diligence and financing, asset management to tax expertise, lease and acquisition negotiations, and construction management.

Module 4

Market Analysis – Local Analysis and Regulations

Time: noon - 2 p.m. (Eastern Standard Time)

Date: May 24, 2017

In this session, we will continue to cover the second step in the Feasibility Study Process: Market Analysis. We will discuss the important of research into the local area and the government regulations and processes. A group-based case study will be assigned as homework, with the results being presented during the next class session.

Facilitator for this Lesson:
Jay Padgett

Jay Padgett

Regional Director of Business Development

McShane Construction Company

Subject Area:

Mr. Padgett joined McShane Construction in 2015 to oversee the acquisition, planning, pre-construction and corporate account management of assignments within the industrial, distribution, warehouse and manufacturing sectors. As an experienced professional, he offers seasoned expertise in examining the dynamics of the industrial market and uncovering opportunities for new construction throughout the Southeast Region. Mr. Padgett works to develop and maintain relationships within the commercial real estate industry to enhance the firm’s ability to be considered for new opportunities and continuing its expansion within the region. His professional successes in meeting the needs of corporate end-users, establishing confidence on behalf of clients and fostering relationships with the brokerage community, architects, consultants and other entities involved in the acquisition of new construction, allows Mr. Padgett to advance McShane’s project portfolio.

Module 5

Highest and Best Use and Valuation

Time: noon - 2 p.m. (Eastern Standard Time)

Date: May 31, 2017

In this session, we will discuss the third step in the Feasibility Study Process: Highest and Best Use. This step determines the projected site’s highest and best use. The highest and best use case study provides an economic basis for the chosen use by addressing the four factors of value: utility, desire, scarcity, and effective purchasing power. Groups will also present results from the assigned case study.

Facilitator for this Lesson:
Jason S. Ting

Jason Ting

Principal

Ting Realty

Tulsa, Oklahoma

Subject Area:

Jason is Co-Founder of Ting Financial Group, a niche private equity real estate investment firm, and Principal of Ting Realty, a full service real estate development, management, and brokerage company. His direct responsibilities include acquisitions and dispositions, property management and leasing, domestic and foreign client relations, and new business formation. Jason blogs about his work and personal life journeys via JasTing.com, and is actively involved in his local community church leading personal finance workshops.

Module 6

Due Diligence

Time: noon - 2 p.m. (Eastern Standard Time)

Date: June 7, 2017

This session will walk students through the due diligence process. Students will discuss the appraisal report, environmental issues, and insurance review, as well as surveying the property.

Facilitator for this Lesson:
Misty Ponce

Misty Ponce

Principal

Partner Engineering and Science, Inc.

Subject Area:

Ms. Ponce is an environmental engineer with more than 17 years of experience providing a broad range of environmental and engineering due diligence consulting services including environmental site assessments, property condition assessments, environmental/regulatory compliance audits, and environmental remediation system design and implementation. Ms. Ponce provides expertise in soil and groundwater contamination and characterization, regulatory site closure, mergers and acquisitions, and environmental risk analysis. The clients that Ms. Ponce works most closely with include real estate owners, attorneys, investors, manufacturers, and developers needing engineering and environmental support during the acquisition, disposition and on-going management and operation of commercial, industrial, and multifamily residential properties.

Module 7

Data Sources

Time: noon - 2 p.m. (Eastern Standard Time)

Date: June 14, 2017

In this session, students will discuss and review the variety of data sources available, both free and fee-based. A case study will also be assigned to teams.

Facilitator for this Lesson:
Joan Woodard

Joan Woodard

President & CEO

Simons & Woodard Inc

Santa Rosa, Califorina

Subject Area: Essentials of the Development Process, Advanced Development Practices, Leasing Marketing and Negotiation, Site Feasibility and Financial Analysis of Development Projects

Joan Woodard is president and CEO of Simons & Woodard – a Santa Rosa, California, based management, architecture and development firm. She is responsible for overseeing the organization’s architecture, marketing, leasing, property, and management activities. A member of NAIOP since 1987, Ms. Woodard was chair of NAIOP’s National Board of Directors in 1994. She was also a member of the Private Developer II Forum, chair of the Awards Committee, and was president of the Georgia Chapter. Ms. Woodard is currently a committed faculty member of NAIOP’s Center for Education.

Module 8

Site Feasibility Team Review

Time: noon - 2 p.m. (Eastern Standard Time)

Date: June 21, 2017

All teams will present their results from the previously assigned case study. In addition, the instructor will walk the class through an actual Site and Market Feasibility analysis to demonstrate how everything works in the day-to-day development world.

Facilitator for this Lesson:
William Klein

William L. Klein

President

Kay Realty Services LLC

Ocean, New Jersey

Subject Area: Essentials of the Development Process, Advanced Development Practices, Leasing, Marketing and Negotiations, Site Feasibility and Financial Analysis of Development Projects

William Klein has been a recognized leader in all facets of real estate investment for more than 40 years. He has participated in numerous transactions, (many as a managing principal), in all asset classes in the industry. Since 1994, Klein has been the CEO of Kay Realty Services., one of the New Jersey shore's innovative real estate investment firms, which he founded on a theme of "value-added" strategies. He acts as managing member of all Kay Realty Holdings assets. He is also CEO of Smitty's Super Foodtown Stores, a 2 store supermarket which anchors two of his shopping centers.

Prior to KAY REALTY, Klein held key senior management positions in several national and regional development firms such as K Hovnanian and Dyson Kissner Moran where he created over three million sf of class A properties. Earlier, he served as chief appraiser of Central Savings Bank of New York and a senior executive and leader of Joint Ventures in the Home Life Insurance Company's mortgage investment division.

Klein holds a bachelors degree in economics from Upsala College and has completed professional graduate courses in real estate at Harvard University Graduate School of Design, Rutgers University and New York University. His appraisal training was provided by the American appraisal institute (MAI). He is a licensed broker in the state of New Jersey.

Education Credits

Education Credits

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Site Feasibility and Market Analysis is approved for the following Education Credit:
16 hours credit toward the Certificate of Advanced Study in Commercial Real Estate Development.

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16 Professional Development Hours (PDH)
1.6 Continuing Education Units (CEUs)

Learning Objectives

Learning Objectives

  • Recognize the critical components included in a feasibility analysis and the overall impact to the viability and success of a project.
  • Develop analytical assessment skills which include how to conduct investigative research to develop a site feasibility study.
  • Perform a national, regional and local economic analysis to determine the state of the market, economic base, availability of resources and the availability supply and demand.
  • Define the due diligence process and the intended outcome. Identify the critical players in the process. Develop a plan to work within the budget and timeframe of the project.
  • Conduct simple highest and best use analysis taking into consideration: valuation using direct capitalization approach, land use controls and insurability.
  • Recognize the critical components of a site analysis and the impact of the results to the success or potential risks to the project.

Tuition & Register

Tuition & Register

Payment for a NAIOP online course entitles access for one person only to the course and all materials.

Course Tuition

  • Member: $795
  • Nonmember: $995
  • Developing Leader: $595
  • Student Member: $95
  • Student Nonmember: $145

How to Register

Register online.
Fax: Complete the PDF form and fax to 703-904-7003
Mail: Send check payments to: P.O. Box 333354, Chantilly, VA 20153

Confirmation

All registrations processed online receive an automatic order confirmation and receipt. If you register via fax, mail, or phone, a receipt must be requested by contacting education@naiop.org.

Login instructions to access the online course are sent under separate cover from customercare@gototraining.com, approximately 1 week before the first class. If it is less than one week until the start of the course and you have not received the login instructions, please check your spam folder. If the login email is still not there, please contact the NAIOP Education Department at education@naiop.org.

Cancellation Policy

All cancellations must be in writing. Cancellations of registrants received after April 12, 2017, will be charged a fee of $100 per attendee. Cancellations received after April 25, 2017 will forfeit the registration fee. No refunds will be made for no-shows. Substitutions are permitted until May 1, 2017. Nonmembers substituting for members will pay the difference in fees. Cancellation/substitution notices should be sent to education@naiop.org or faxed to 703-674-1471.

FAQs

FAQs

What does tuition cover?

Payment for a NAIOP online course entitles access for one person only to the course and all materials.

Is there an online instructor?

Yes, there is a live instructor presenting each class. Students are able and encouraged to engage and interact with the instructor and each other.

How much out-of-class work is required for each course?

Courses offered online require no more than one hour per week of additional work outside of the scheduled class times.

What if I miss a scheduled class?

If a student misses a class, all materials and a recording of each class is posted in the material library for the student to review before the next class. A student must attend a minimum of 75 percent of the classes to receive credit.

Do I have to take an exam?

Course exams are not required unless you are enrolled as a candidate for the Certificate of Advanced Study in Commercial Real Estate or the Certificate of Advanced Study in Real Estate Finance.

What records are kept of my coursework?

The Center maintains records of all the coursework you complete, as well as optional exam scores, in a confidential transcript. Transcripts are available to candidates upon request. Please contact education@naiop.org.

What are the computer requirements?

The interactive sessions will be accessed via GoToWebinar.com.

Please use the list below to determine if your computer meets the minimum requirements recommended to participate in the online courses:

To attend on a PC, the following is required:

  • Internet Explorer® 6.0 or newer, Mozilla® Firefox® 2.0 or newer (JavaScript™ and Java™ enabled)
  • Windows® 2000, XP, 2003 Server or Vista
  • Cable modem, DSL or better Internet connection
  • Minimum of Pentium® class 1GHz CPU with 512 MB of RAM (Recommended) (2 GB of RAM for Windows® Vista)

To attend on a Mac®, the following is required:

  • Mac OS X 10.4 (Tiger®) or newer
  • Safari 3.0 or newer, Firefox 2.0 or newer (JavaScript™ and Java™ enabled)
  • Cable modem, DSL or better Internet connection
  • Power PC G4/G5 or Intel processor (521 MB of RAM or better recommended)

Participants wishing to connect to audio using VoIP will need a fast Internet connection, a microphone and speakers (a USB headset is recommended).

Contact Barb Parnarouskis at barbp@naiop.org for more information.