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Robinson, Spenser
Entrepreneurship Chairperson and Director of Real Estate
Biography
Spenser J. Robinson, CRE, is a professor and director of real estate and chair of the Department of Entrepreneurship at Central Michigan University. He teaches entrepreneurial finance, manages CMU’s real estate development program and supports students through advising, mentorship and outreach.
Robinson’s research examines physical and transitional climate risk, sustainable real estate, property valuation and commercial real estate investment. He is co-editor of the Journal of Sustainable Real Estate and serves on the editorial boards of the Journal of Real Estate Research and Journal of Real Estate Literature. He is also a past president and current board member of the American Real Estate Society.
Before entering academia, Robinson worked in commercial real estate capital markets at Wells Fargo and held consulting and leadership roles with several technology and startup firms.
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Publications & Presentations
Peer-reviewed publications
- Kang, S., Jung, M., Robinson, S., and Shin, H. (2026). “When Affordable Means Hotter: The Disproportionate Heat Risk of Naturally Occurring Affordable Housing in Los Angeles County.” International Journal of Disaster Risk Reduction, 143.
- Robinson, S. (2026). “Considering Physical Climate Risk in Real Estate Valuation.” The Appraisal Journal, 94(1).
- Simons, R.A., Robinson, S., and Simons, D. (2025). “Effect of the Norfolk Southern Train Derailment on House Prices in East Palestine, Ohio.” Journal of Sustainable Real Estate, 17(1).
- Robinson, S. (2025). “Urban Climate Integration Framework: A Multi-Scale, Phased Model.” Land, 14(10).
- Plass, L., and Robinson, S. (2025). “Physical Climate Risk in the Built Environment—An Institutional Investor View.” Journal of Portfolio Management, 51(11).
- Letdin, M., Read, D., and Robinson, S. (2025). “Partnering with Private Employment Agencies to Source Talent in the U.S. Real Estate Development Industry.” Property Management, 44(1).
- Letdin, M., Read, D., and Robinson, S. (2025). “Similarities, Differences, and Best Practices Across Real Estate Education Programs in the United States.” Journal of Real Estate Practice and Education, 27(1).
- Ling, D., Robinson, S., Sanderford, A., and Wang, C. (2024). “Climate Change and Commercial Property Markets.” Journal of Regional Science, 64(4).
- Robinson, S., and Woodin, B. (2024). “Michigan State Land Bank Authority Holdings, Historical Redlining, and Social Equity.” Journal of Sustainable Real Estate, 16.
- Gabe, J., McGrath, K., Robinson, S., and Sanderford, A. (2023). “An Analysis of U.S. Multifamily Housing, Eco-Certifications, and Walkability.” Journal of Sustainable Real Estate, 15(1).
- Robinson, S., and Sullivan, G. (2022). “Proposed Guidelines for U.S. Scope 2 GHG Reduction Claims with Renewable Energy Certificates.” The Electricity Journal, 35(7).
- Robinson, S., and McIntosh, M.G. (2022). “A Literature Review of Environmental, Social, and Governance in Commercial Real Estate.” Journal of Real Estate Literature, 30(1–2), 54–67.
- Lipscomb, C., and Robinson, S. (2022). “Efficiency of 1031 Exchange for Personal Financial Portfolios.” Journal of Real Estate Practice and Education, 24(1), 65–71.
- Gabe, J., Robinson, S., and Sanderford, A. (2022). “Willingness to Pay for Attributes of Location Efficiency.” Journal of Real Estate Finance and Economics, 65, 384–418.
- Gabe, J., Robinson, S., and Sanderford, A. (2022). “The Relationship Between School Quality and U.S. Multifamily Housing Rents.” Journal of Real Estate Finance and Economics, 64, 615–645.
- Alexandrova, S., Reichert, A., and Robinson, S. (2022). “An Empirical Case Study of Housing Mobility in Corporate Relocations: Equity Constraints and Corporate Incentives.” Journal of Real Estate Practice and Education, 24(1), 17–31.
- Cloutier, D., Robinson, S., and Sullivan, G. (2021). “The Coming U.S. Regulatory Oversight of and Demand for Climate Disclosure.” Real Estate Issues, 45(28).
- Christensen, P., Robinson, S., and Simons, R.A. (2021). “Institutional Investor Motivation, Process, and Expectations for Sustainable Building Investment.” Building Research and Information, 50(3), 276–290.
- Verma, S., Mandal, S.N., Robinson, S., and Bajaj, D. (2021). “Investment Appraisal and Financial Benefits of Corporate Green Buildings: A Developing Economy Case Study.” Built Environment Project and Asset Management, 14(4), 393–413.
- Affholter, J., Robinson, S., and Thomas, J. (2021). “Case Study of the New Entrepreneurial Transactions Master Degree: Filling a Gap in Business and Legal Education.” Journal of Business Law and Ethics Pedagogy, 4(1).
- Verma, S., Mandal, S.N., Robinson, S., and Bajaj, D. (2020). “Diffusion Patterns and Drivers of Higher-Rated Green Buildings in the Mumbai Region, India: A Developing Economy Perspective.” Intelligent Buildings International, 1–21.
- Gabe, J., Robinson, S., Sanderford, A., and Simons, R.A. (2020). “Lease Structures and Occupancy Costs in Eco-Labeled Buildings.” Journal of Property Investment and Finance, 38(1).
- Robinson, S., and Singh, A. (2019). “The Impact of Green Labels on U.S. Hotel Net Operating Income: Operating Statements Analyses.” Journal of Sustainable Real Estate, 10.
- Simons, R.A., Robinson, S., and Lee, E. (2019). “A Market-Driven Green Office Building Index.” Journal of Real Estate Portfolio Management, 25(1).
- Cypher, M., Price, S.M., Robinson, S., and Seiler, M. (2018). “Price Signals and Uncertainty in Commercial Real Estate Transactions.” Journal of Real Estate Finance and Economics, 57(2).
- Christensen, P., Robinson, S., and Simons, R.A. (2018). “The Influence of Energy Considerations on Decision Making by Institutional Real Estate Owners in the U.S.” Renewable and Sustainable Energy Reviews, 94.
- Costa, O., Fuerst, F., Robinson, S.J., and Mendes-Da-Silva, W. (2018). “Green Label Signals in an Emerging Real Estate Market: A Case Study of São Paulo, Brazil.” Journal of Cleaner Production, 184, 660–670.
- Robinson, S., and Sanderford, A. (2018). “Conditions of Sale Control Variables in Hedonic Analysis of Commercial Real Estate.” Real Estate Finance, 35(4).
- Jain, P., and Robinson, S. (2018). “Do Large-Scale Owners Enjoy Brand-Induced Premiums?” Journal of Real Estate Portfolio Management, 24(1).
- Robinson, S., Simons, R.A., and Lee, E. (2017). “Which Green Office Building Features Do Tenants Pay for? A Study of Observed Rental Effects.” Journal of Real Estate Research, 39(4), 467–492.
- Robinson, S., and Sanderford, A.R. (2017). “Hedonic Models and the Inclusion of Conditions of Sale in Commercial Real Estate Transactions: A Review of the Literature.” Journal of Real Estate Literature, 25(2), 311–326.
- Simons, R.A., Robinson, S., Lee, E., and Bragg, A. (2017). “The Quadruple Bottom Line: Tenant Views of Corporate Responsibility in Green Office Buildings.” Journal of Sustainable Real Estate, 9(1), 153–171.
- Jain, P., Robinson, S., Singh, A.J., and Sunderman, M. (2017). “Hospitality REITs and Financial Crisis: A Comprehensive Assessment of Market Quality.” Journal of Property Investment and Finance, 35(3).
- Robinson, S., and Sanderford, A.R. (2016). “Green Buildings: Similar to Other Premium Buildings?” Journal of Real Estate Finance and Economics, 52(2).
- Robinson, S., Simons, R.A., Lee, E., and Kern, A. (2016). “Demand for Green Buildings: Office Tenants’ Willingness to Pay for Green Features.” Journal of Real Estate Research, 38(2).
- Robinson, S., and Reichert, A. (2016). “A Commercial Real Estate Matching Method.” Journal of Real Estate Research, 37(4).
- Robinson, S., Singh, A.J., and Das, P. (2016). “Financial Impact of LEED and Energy Star Certifications on Hotel Revenues: Evidence from U.S. Hotels.” Journal of Hospitality Financial Management, 24(2).
- Christensen, D., Robinson, S., and Simons, R. (2016). “The Application of Mixed Methods: Using a Crossover Analysis Strategy for Product Development in Real Estate.” Journal of Real Estate Literature, 24(2).
- Robinson, S., and McAllister, P. (2015). “Heterogeneous Price Premiums in Sustainable Real Estate? Investigation of the Relationship Between Value and Price Premiums.” Journal of Sustainable Real Estate, 7.
- Sanderford, A.R., Christensen, D., Gabe, J., and Robinson, S. (2015). “Future Leaders of American Real Estate Society.” Journal of Real Estate Practice and Education, 18(2), 163–177.
- Simons, R.A., Robinson, S., and Lee, E. (2014). “Green Office Buildings: A Qualitative Exploration of Green Office Building Attributes.” Journal of Sustainable Real Estate, 6.
- Robinson, S., Simons, R.A., and Seo, Y. (2014). “The Effect of a Large Hog Barn Operation on Residential Sales Prices.” Journal of Sustainable Real Estate, 6.
Textbooks and instructional materials
- Blended Teaching Financial Management Textbook
- Blended Teaching Real Estate Principles Textbook
- Blended Teaching Real Estate Investment Textbook
- Blended Teaching Real Estate Finance Textbook
Selected reports, chapters and professional publications
- Robinson, S., and Rigby, C. (2026). Sustainable Buildings Collaborative Americas 2026. UNEP Finance Initiative/Verdani Institute for the Built Environment.
- “New Dimensions of Valuation.” ULI Resilience Summit, 2026.
- Robinson, S. (2026). Managing Physical Risk in Commercial Real Estate. NAIOP/CREDA.
- Letdin, M., Read, D., and Robinson, S. (2024). Recruiting, Training and Retaining Talent in the Real Estate Development Industry. NAIOP Research Foundation.
- Robinson, S., and Sanderford, A. (2024). Physical Risks and Underwriting Practices in Assets and Portfolios. Urban Land Institute.
- Robinson, S. (2024). Commercial Real Estate Terms and Definitions. NAIOP.
- “Can You Back Up Your Green Claims With Data?” Where We Buy: Retail Real Estate With James Cook, 2023.
- Plass, L., Robinson, S., and Sanderford, A. (2022). How to Choose, Use and Better Understand Climate Risk Analytics. Urban Land Institute.
- Robinson, S., and Sullivan, G. (2022). “Opportunities in Infrastructure: Creating Carbon Offsets.” Institutional Investing in Infrastructure, 14(11).
- Robinson, S., and Simons, R.A. (2018). “Creating a Green Index Based on Tenant Demand for Sustainable Office Buildings and Features.” In Routledge Handbook of Sustainable Real Estate. Routledge.
- Robinson, S. (2016). “Underwriting Transitional Assets.” In the Commercial Real Estate Financial Council’s High Yield Distressed Asset E-Primer.
Credentials, Certifications & Awards
- CRE designation
- ISO 14001:2015 lead auditor
- ISO 19011:2018 lead auditor
- ISO process improvement auditor
- NAIOP/CREDA Distinguished Fellow
Education
- Doctor of Business Administration in finance and real estate, Cleveland State University, Monte Ahuja College of Business, 2013
- Master of Business Administration in international and financial management, University of Southern California, Marshall School of Business, 2003
- Bachelor of Arts, University of Michigan, 1994
Research Interests
- Physical climate risk and resilience in real estate
- Sustainable and green real estate
- Environmental, social and governance considerations in commercial real estate
- Commercial real estate finance, investment and valuation
- Climate disclosure and transition risk
- Housing, location efficiency and social equity
- Real estate education and workforce development
Membership in Professional Organizations
- American Real Estate Society, 2015-present
- Past president, 2023-24
- Board of directors, 2015-present
- UNEP Finance Initiative Sustainable Buildings Council Americas, ambassador and moderator, 2025-present
- CREDA/NAIOP Distinguished Fellows Program, 2021-present
- ASTM Property Resilience Assessments of Buildings Team, 2022-present
Current editorial service
- Co-editor, Journal of Sustainable Real Estate
- Editorial board, Journal of Real Estate Research
- Editorial board, Journal of Real Estate Literature
Current Licenses/Certifications Held
- State of Michigan real estate broker
- Series 65 qualification