MRED program set W. P. Carey grad up for career success

Alum Zachary Hartman (MRED '10) shares how ASU's Master of Real Estate Development program provided the guidance and network to support the next step of his career.

Zachary Hartman (MRED '10) spent a decade in land brokerage and development before applying to W. P. Carey's Master of Real Estate Development program in 2010.

"Graduating from the MRED program was the best decision I ever made," he says. "Given the economic conditions at the time, there was so much opportunity!"

Today, Hartman is the managing director for Land Advisors Organization in Utah, where he advises private equity investors, banks, financial institutions, developers, pension funds, REITs, public entities, family offices, homebuilders, and individual owners on the acquisition and disposition of Utah land assets. And since opening the organization's Utah office in 2010, he's closed transactions totaling just under $1 billion across 33 states, including 32,750 residential lots and units, thousands of industrial acres, hundreds of mixed-use infill acres, millions of square feet of commercial space, and even 24 holes of golf.

"I love the amazing state of Utah, and I wake up every morning ready to help build its future. It’s incredibly rewarding to contribute to the growth of such a dynamic place and be part of shaping the future of America," says Hartman.

Hartman sat down with W. P. Carey News to discuss how the MRED program has redefined his career, offer advice for current students, and share how he's using his skills to give back to the Utah community.

Question: Why did you decide to pursue the MRED program at ASU?
Answer: In 2009, after 10 years in land brokerage and development, I had gone 13 months without making a dollar — just spending. It was one of those pivotal moments when I thought: Get smarter or quit. I applied to a few schools and had other options, but ultimately, ASU was the right fit for me.

Q: Did the program set you up for career success?
A: Absolutely. The program taught me how to translate the ideas in my head into a solid, actionable plan. Before MRED, I was doing okay, but afterward, I was really thriving. I started making significant money, often alongside fellow alums. The MRED alumni network is incredible: robust, supportive, and full of opportunities.

The mentorship I received was transformative. President of Everest Holdings Joseph Blackbourn, an MRED mentor, had a significant impact on me. He helped rework my business plan, and without that guidance, I wouldn’t be where I am today. Emeritus Faculty Associate of Law Gary Birnbaum was one of my favorite teachers of all time. And MRED Director, Director of the Experiential Learning Lab, and Fred E. Taylor Endowed Professor of Real Estate Mark Stapp — who took a chance on me as a high-risk, low-GPA applicant — is just incredible.

Q: You’re now dedicating more of your time to volunteering and giving back. Can you tell us about the McGillis School project?
A: One of my clients asked about a property in downtown Salt Lake City — an LDS chapel that was for sale — and the McGillis School was interested in expanding there. I volunteered to help, donating the commission. The property needed rezoning, so with a great group of school administration employees and volunteers, we guided the school through the entitlement process. By highlighting their community benefit, they secured a favorable outcome, preserved the property’s value, and sustainably repurposed the existing structure instead of demolishing it.

It was an enormous undertaking for the school, but ultimately, it created an excellent space for both the school and the broader community.

Q: What was the most challenging part of your professional journey?
A: Never forget that if you fail to make someone more money than they pay you, you won’t have that job for long. You have to understand the relationship between the value you bring and the compensation you receive.

You also have to study constantly and remember that you are the expert. And when you're wrong, admit it quickly and move on. Nobody’s going to hand you credibility. You must earn your place as an expert.

As Mark Stapp would say: "That’s an educational moment."

Q: What advice would you give to new MRED students?
A: Decide early: Are you an investor or a spender? You’ll only get a handful of genuinely great buying opportunities in your life. You can spend your money on nice things and live large, or you can keep cash on hand for when that rainbow appears.

The MRED program sets you up for success, but you must be willing to invest in the opportunities that the ASU network creates for you. And remember, you only have one name, so don’t ruin it.