1. Chapter 18 Commercial and Industrial Development

2. Types of Commercial Property  Shopping/Retail Centers  Office Buildings  Hotels/Motels (Hospitality)  Restaurants

3. Types of Industrial Property  Factories  Warehouses  Distribution Centers

4. Shopping Center Types  Neighborhood shopping center  Community shopping center  Regional shopping center  Superregional shopping center  Other shopping centers  Super Store  Factory Outlet Center

5. Figure 18.1

6. Table 18.1

7. Evolution of the Shopping Center  Old downtown/Main Street  Suburban growth & the automobile

8. Shopping Center Development  Market and Feasibility Analysis Primary and secondary trade areas Market size Competitive survey  Site Location  Tenant Selection

9. Cinderella City Mall/ Englewood City Center

10.  1968 – 1.35M SF  1997 - closed

11. Cinderella City Mall/ Englewood City Center

12. Today’s Shopping Center Development  ULI suggestions for project success:  Unified architecture / theme  Many entrances/exits  Sufficient on-site parking  Quality site improvements

13. ULI: “Dollars & Cents of Shopping Centers” (1995)

14. Office Buildings  Location Central business districts Secondary office nodes Office parks Corporate Campuses  Cheap land  Cheap parking  Employee quality of life Office Condos

15.  Owners own piece of a building (their space) - Mortgage on their space - Condo (maintenance) fees - Real estate taxes  Benefits: - Value appreciation - Tax advantages  interest & depreciation deduction - Fixed office space costs  Except for increases in maintenance/taxes - Often cheaper than leasing  Risks - Rising interest rates could reduce/eliminate appreciation gains - Need for more space - Long term commitment

16. Industrial and Distribution Facilities  manufacturing  warehousing  distribution  analysis technique determine existing and potential supply forecast demand estimate absorption rate compare competitiveness with other projects

17. Lodging Facilities  Customers: Business Pleasure Conventions  commercial hotels  highway or airport hotels and motels  resort hotels

18. End Chapter 18