Suppose you are hired by a developer to conduct a preliminary real estate market analysis in a
submarket. Your task is to determine whether a new office, hotel, apartment or retail property should
be built in the submarket. In order to support your recommendation, you should define the
submarket, conduct demand and supply analysis, and outline potential competition in the submarket.
This basic market analysis would serve as the starting point for a more complete market research
study. Below are some specific guidelines: [35 points]
1) Please focus on only one or two property types that you believe are the most feasible
properties to develop.
2) It should be a "Level B" market analysis, i.e., you should present arguments with necessary
statistical support and graphs (e.g., using data from Costar and STDB), but there is no need for
conducting interview, survey or valuation.
3) The time frame for the market analysis is 5-10 years.
4) You should identify a submarket that you are interested to conduct the market analysis. One
suggestion is that you can focus on the submarket close to FIU MMC medical school campus
(please see more background below).
5) Please do not write your market analysis report more than 6 pages, single spaced.
Additional background about FIU MMC medical school campus: according to an economic impact
study conducted by Tripp Umbach, the new College of Medicine at Florida International University
may have an annual economic impact on local area for more than $1 billion in the future. The college
is expected to create about 10,000 jobs in south Florida. In addition, recently the President of FIU
indicated that FIU would meet with representatives from the Miami-Dade County Fair & Exposition,
Inc. and Miami-Dade County to explore the possibility of finding a new location for the Fair so that
FIU can expand into the location that currently is the fairgrounds adjacent to MMC (the FIU main
campus). In light of these potential growth and development activities, please conduct a basic real
estate market analysis in this area.