Sofia Dermisi

Sofia Dermisi

H. Jon and Judith M. Runstad Endowed Professorship in Real Estate

Victor L. Lyon and Alvin J. Wolff Endowed Professor in Real Estate

Chair of the Interdisciplinary Group for Real Estate (IGRE)
Program Director of Graduate Programs in Real Estate

Sofia Dermisi joined the University of Washington in 2014 as the Jon and Judith Runstad Endowed Professor in Real Estate and Chair of the Interdisciplinary Group for the Master of Science in Real Estate. As of 2018, Dr. Dermisi received the Victor L. Lyon and Alvin J. Wolff Endowed professorship and holds a joint appointment with the Department of Urban Design and Planning.

Her role for the first three years at the University of Washington was the establishment of an Interdisciplinary Group of faculty, staff and advisory board members for the oversite of the MSRE program, the restructuring/implementation of a new innovative MSRE program and the outreach to overseas universities for strategic partnerships. Prof. Dermisi was also tasked to focus on the recruitment of a new Director of the Runstad Center/Department chair, tenure-track faculty and instructors. Upon the formation of the Department of Real Estate in September of 2017, Prof. Dermisi continued in her role as Chair of the Interdisciplinary Group for Real Estate (IGRE) and became the Director of Graduate Programs in Real Estate, which includes the MS in Real Estate (MSRE) and the Graduate Certificate in Real Estate.

Prof. Dermisi was previously, at the W.E. Heller College of Business Administration, Roosevelt University in Chicago (2003-2014), where she was the Pasquinelli Family Distinguished Chair in Real Estate and a Professor of Real Estate. While at Roosevelt University, Prof. Dermisi led the development of a real estate concentration within the MBA and later on the development of an MSRE program within the College. Prof. Dermisi also held a visiting position at the Institute for Qunatitiative Social Sciences (Harvard University).

Prof. Dermisi has an interdisciplinary approach in her research, focusing on understanding the evolution of office markets and the effect of internal and external shocks. Prof. Dermisi’s research agenda has focused on major downtown locations, with three areas of emphasis: market analysis, disasters and sustainability. She received external grants from the National Science Foundation, Real Estate Research Institute, Land Economics Foundation, Illinois Department of Transportation and BOMA/Chicago.

Prof. Dermisi has published a significant number of papers and book chapters in journals such as the Journal of Urban Economics, Journal of Real Estate Research, Journal of Real Estate Finance & Economics, Journal of Real Estate Portfolio Management, Real Estate Finance Journal, Journal of Sustainable Real Estate, Journal of Real Estate Literature, Journal of Homeland Security and Emergency Management, International Journal of Disaster Resilience in the Built Environment, International Journal of Built Environment and Asset Management. Prof. Dermisi is a review of multiple journals and on the editorial board of the Journal of Sustainable Real Estate. She has recently stepped down from the Data, Methods, and Technology section of the Journal of Real Estate Literature after a long service as the section editor.

Prof. Dermisi has received multiple awards for her research including the prestigious William Kinnard Award for young scholars in 2011.

Prof. Dermisi is the Program Chair of the American Real Estate Society Conference in 2018 and the Vice President of the American Real Estate Society.

Qualifications

Doctor of Design Studies, Harvard University, 2002
Master in Design Studies, Harvard University, 1999
Diploma in Planning and Regional Development Engineering, University of Thessaly, 1998

Current Teaching

  • Introduction to Real Estate (MSRE)
  • Best Practices in Sustainable Real Estate (MSRE)
  • Real Estate Project Management (MSRE)

Research

Journal Papers

“Sustainability and Innovation in One university: Roosevelt University’s Vertical Campus in Chicago”, (with M.B. Weinstein), Journal of Sustainable Real Estate, forthcoming

“Using GIS to Measure the Impact of the Canterbury Earthquakes on House Prices in Christchurch, NZ”, (with Sandy Bond), International Journal of Disaster Resilience in the Built Environment, 2017, 8:2, 123-138.

“Hotel Terrorist Attacks and their Worldwide/USA Performance Implications”, International Journal of Built Environment and Asset Management, 2015, 1:4, 307-328.

“A study of LEED vs. non-LEED Office Buildings Spatial & Mass Transit Proximity in Downtown Chicago”, Journal of Sustainable Real Estate, 2014, 6:1, 115-142.

“Performance of Downtown Chicago’s Office Buildings Before and After Their LEED Existing Buildings’ Certification”, Real Estate Finance, 2013, 29:5, 37-50.

“Effect of ‘Green’ (LEED and Energy Star) Designation on Prices/sf and Transaction Frequency: The Case of the Chicago Office Market”, (with John McDonald), Journal of Real Estate Portfolio Management, 2011, 17:1, 39-52.

“Selling Prices/sq.ft. of Office Buildings in Downtown Chicago – How Much Is It Worth to be an Old but Class A Building?”, (with John McDonald), Journal of Real Estate Research, 2010, 32:1, 1-21.

“Office Building Capitalization Rates: The Case of Downtown Chicago”, (with John McDonald), Journal of Real Estate Finance & Economics, 2009, 39:4, 472-485.

“International Terrorism Cyclicality Predictions and Concerns Regarding Private Commercial Buildings”, Journal of Real Estate Literature, 2009, 17:1, 87-109.

“Effect of LEED Ratings and Levels on Office Property Assessed and Market Values”, Journal of Sustainable Real Estate, 2009, 1:1, 23-47.

“Capitalization Rates, Discount Rates, and Net Operating Income: The Case of Downtown Chicago Office Buildings”, (with John McDonald), Journal of Real Estate Portfolio Management, 2008, 14:4, 363-374.

“Challenges in Adopting New Life & Safety Ordinances in Existing Office Buildings”, Journal of Real Estate Portfolio Management, 2008, 14:2, 155-178.

“Is Terrorism Eroding Agglomeration Economies in Central Business Districts? Lessons from the Office Real Estate Market in Downtown Chicago”, (with Alberto Abadie), Journal of Urban Economics, 2008, 64:2, 451-463.

“Urban Functionality and Extreme Natural Disasters; The New Orleans-Katrina Case for New Federal Policies and Programs for High Risk Areas”, (with John Baen), Journal of Real Estate Literature, 2007, 15:2, 229-252.

“The Aftermath of Katrina – Recommendations for Real Estate Research”, (with John Kilpatrick), Journal of Real Estate Literature, 2007, 15:2, 213- 227.

“The Impact of Terrorism Fears on Downtown Real Estate Office Market Cycles – The Case of Chicago”, Journal of Real Estate Portfolio Management, 2007, 13:1, 57-73

“Recovering from an External Economic Shock: The Effect of Terrorism on Chicago Trophy Buildings and Their Immediate Area”, Journal of Real Estate Literature, 2006, 14:3, 401-421.

“Terrorism Protection and Prevention Measures for Office Buildings”, Journal of Real Estate Literature, 2006, 14:2, 59-86.

“Urban Functionality and Corporate Location Decisions After September 11, 2001: Benefiting from the New York City Experience”, (with John Baen), Journal of Homeland Security and Emergency Management, 2005, 2:2.

Book Chapters and Other Publications

“Sustainability of Office Buildings: Lessons Learned from Academic and Professional Research”, in Squires G., Heurkens, E. & Peiser, R. (eds) Routledge Companion to Real Estate Development. Routledge, forthcoming.

“The Socioeconomics of Growth in Inner-Ring Suburbs – Trends in the Los Angeles and Boston Metropolitan Areas”, (with R. Peiser), in Regenerating Older Suburbs, Urban Land Institute, 2007.

“Office Development”, in R. Peiser and D. Hamilton, Professional Real Estate Development – The ULI Guide to the Business, Urban Land Institute, 2012.

Selected Current Research Projects

“Exploring office building financial and physical characteristics and the well-being of their occupants—A Seattle pilot study”, (with A. Moudon and A. Bassok)

“Impact of Energy Benchmarking and Disclosure on the Performance of Office Buildings”, (with H. Lee).

“Lessons Learned from US Office High-rise Construction Activity & Spatial Agglomeration”

“Effects of Civil Unrests and Terrorism in Urban Cores and Hotel Activity”