National real estate leaders gather at ASU forum on growth and innovation

The event explored the market forces, partnerships, and applied learning shaping the future of real estate.

Phoenix’s population is projected to grow by more than one million people over the next decade. Meeting the demand for places to live, work, and play will require innovative thinking and stronger ties between academia and industry — an effort led by the W. P. Carey Center for Real Estate and Finance.

In April, the center hosted its second Annual Real Estate Forum, bringing together national and local industry leaders, scholars, and ASU students to explore trends, industry evolution, and the future of real estate. The event featured presentations on the center's initiatives and academic offerings, the Broker Sentiment Index and Survey, discussions on market conditions and technology's growing impact on the built environment, and a conversation between William P. Carey II, chairman and president of the W. P. Carey Foundation and executive director for credit and risk at W. P. Carey Inc., and Willy Walker, chairman and CEO of Walker & Dunlop.

Tom Johnston, executive director of the W. P. Carey Center for Real Estate and Finance, welcomed guests from across the local and national real estate community and thanked the W. P. Carey Real Estate Council for its support in advancing the center.

"The center's role is to be a bridge between the university, students, and the real estate community," he said, pointing to applied research and industry discussions such as the Commercial Real Estate Broker Survey and forum.

Since the W. P. Carey Foundation's $25 million commitment to ASU in 2024, the center has grown through naming and new initiatives, including an experiential learning lab focused on applied real estate education. The school has also broadened its offerings with a new undergraduate real estate degree and an MBA concentration, while the center has strengthened its impact through industry partnerships and immersive coursework.

The school's newest degree program, the Bachelor of Science in real estate and applied finance, will graduate its inaugural cohort this May and has already attracted more than 450 applications for the fall semester.

Laura Lindsey, Cutler Family Endowed Professor, leads the school's real estate curriculum development and described the center's relationship with industry as symbiotic.

"We produce and disseminate knowledge, but there's a key feedback loop that's important, and which involves the business, finance, and broader real estate community in identifying what's important for students to know so they can participate in the modern practice of a discipline," said Lindsey, chair of the finance department. "They also tell us what's concerning them, so we as academics can figure out what's of interest for us to think about and study."

Robert Martin, research economist at the Center for Real Estate and Finance, shared findings from the Broker Sentiment Index, launched last fall and building on the school's semiannual survey and forum of commercial brokers. Despite broader economic uncertainty, the survey found that sentiment is high, particularly in industrial and retail markets.

"What's remarkable here is that the story is pretty consistent: Regardless of what asset class we talk about, everybody is feeling fairly positive," Martin said.

Rob Bischoff, digital experience design principal at Gensler, discussed real estate trends shaping Phoenix and how technology is transforming the built environment.

"We believe that cities are changing from a place of consumption to a place of connection," Bischoff said.

With more than 76% of people interested in immersive experiences in their cities, Bischoff predicts growth in location-based entertainment and sports districts, immersive retail, and tech-driven wellness features embedded in infrastructure.

"It's about bringing people together, about a shared experience," he said.

The event concluded with a conversation between Carey and Walker on their early careers, long-term value creation, and the role of relationships in business. During the discussion, Carey emphasized the importance of "doing good while doing well" through long-term investments that strengthen communities.

"This work is just the beginning," Johnston said. "Meeting the demand for places to live, work, and play will require innovative thinking and stronger ties between academia and industry."

Learn more about the W. P. Carey Center for Real Estate and Finance and the Bachelor of Science in real estate and applied finance.