Commercial and Industrial Development Chapter 18

Commercial and Industrial Development Shopping Center Development –Neighborhood shopping center < 100,000 sq.ft. –Community shopping center Discount shopping center 100, ,000 sq.ft. –Regional shopping center 300, ,000 sq.ft. –Super-regional shopping center > 750,000 sq.ft.

Commercial and Industrial Development Shopping Center Development –Other center classifications Power center (Big Box) Superstore (Super Target) Specialty center (High Dollar) Factory outlet center

Commercial and Industrial Development The Development Process –Market and feasibility analysis Defining the trade area –Primary trade area (1,3,5) –Secondary trade area (20%) Determining the size of the market Analyzing the competition Competitive survey (Additional Development)

Commercial and Industrial Development Site Location –Importance of location and access (major routes) –Possible complementary locations near other centers (clustering)

Commercial and Industrial Development Office Buildings –Location of office activity (Financial Center, Suburban Center) –Types of office projects (High-rise, Condo, single tenant) –Classes of Office Property Class A, Class B, Class C

Commercial and Industrial Development Industrial Facilities –Office Warehouse –Service Center –Flex Space –R&D Space –Distribution –Heavy Manufacturing

Commercial and Industrial Development Industrial Parks and Distribution Facilities –Determine the amount of existing or potential supply –Forecast the demand for additional developed and industrial acreage or building space in the general area –Estimate the absorption rate during the analysis period –Compare the competitiveness of the subject site with that of other properties

Commercial and Industrial Development Hotel, Motel, and Resort Developments –Source of demand (Leisure vs. Business) –Commercial hotels (Convention traffic) –Highway or airport hotels (Transient) –Resort hotels (Destination)