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Research Report

The Higher Education Leader’s Guide to Real Estate Optimization

An analysis of consultant-recommended strategies for optimizing the built environment

Financial pressures are prompting higher education leaders to get the most value from one of their largest assets: the built environment. However, many institutions lack the in-house expertise to optimize real estate and therefore seek the support of specialists.

To support partners in cost-effectively accessing crucial real estate and space use advice, EAB analyzed more than 25 consultant-created real estate optimization reports. The findings showed that these reports have more similarities than differences, often recommending consistent strategies and priorities.

This resource identifies the five most common real estate optimization strategies recommended by consultants. These encompass 18 tactics for minimizing costs or generating revenue from campus space. EAB pairs each tactic with case studies and practical guidance to help leaders assess fit. Together, these insights enable institutions to strengthen their asset strategy without relying on costly outside consultants.

Download the full guide or explore each real estate optimization strategy below.

The top five strategies recommended by consultants

  1. Preserve the core of campus for student-centric activities

    Consultants prioritize aligning campus decisions with the student-serving mission. They encourage investing in centrally located student spaces and considering the student impact of all real estate initiatives.

     

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  2. Explore external funding and partnerships

    Many high-priority construction and renovation projects are risky for institutions to pursue alone due to project scale, required expertise, and high upfront costs. Partnering with a public or private entity enables institutions to mitigate these risks.

     

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  3. Creatively activate under- or unused assets

    Maintaining underutilized space is a significant unnecessary cost. Further, activating this space can eliminate the need for new construction.

     

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  4. Offload non-core assets that cannot be activated

    While property disposal can be politically challenging, selling or leasing dysfunctional space may be worth the cost savings.

     

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  5. Selectively add to the campus portfolio

    Consultants typically put this strategy last. While acquiring or developing land can generate revenue in the medium to long run, the strategy also carries risk. For instance, shifting consumer preferences or the availability of nearby offerings can lead institutions to overestimate demand for projects.

     

    Read the Tactics

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