NAIOP Distinguished Fellow Herb Tousley III died unexpectedly on January 30 at the age of 67. Tousley served as Faculty Director of Real Estate and Director of the Shenehon Center for Real Estate at the University of St. Thomas. In that role, Tousley directed the university’s M.S. in Real Estate and taught undergraduate courses in real estate. While at St. Thomas, Tousley founded the Minnesota Real Estate Hall of Fame and served as the university’s faculty advisor for the NAIOP Minnesota University Challenge Real Estate Competition. Enrollment in St. Thomas’ undergraduate real estate program more than doubled under his leadership.
Tousley was well-known in the local real estate community, including for his authorship of the Minneapolis/St. Paul Residential Real Estate Index, the Minnesota Commercial Real Estate Survey and the Twin Cities Home Builders Survey. Tousley had extensive experience in commercial real estate and previously served as senior vice president at Coldwell Banker Commercial Griffin Companies in Minneapolis from 2007 to 2009 and as vice president of Omni Investment Properties in St. Paul from 2002 to 2007.