Real Estate Retail Market Analysis

Order Description
Prepare retail market analysis for the Lake Forest Mall site. For this assignment, you will need to review the following report:

CoStar Retail Report
SiteWise Retail Spending Report
(Note: Atached.)

Begin with a review of the number of households and employees in the market area. Create a table to clearly show the amount and type of customers with direct access to a retail opportunity on the Lake Forest Mall site.
Determine the amount of retail sales currently being generated by residents in the trade area. Assess what type of retail stores each sales category would support (i.e., eggs, bread, and poultry would be purchased at a grocery store (typically); whereas prepared foods might be purchased at a grocery store or sandwich shop). Begin to categorize sales into possible store types.
Prepare an expected capture rate for each retail category.
Create a table where total sales per retail category are divided by a healthy expectation of sales per square foot. For the purposes of your analysis, use $400/sf as an ideal sales figure for grocery and $350/sf as an ideal sales figure for all other types of retail.
How much retail can the market area support? Use this formula to find out:

Identify the estimated amount of retail supply currently in the market area. Document any plans for new retail development within five miles of Lake Forest Mall .For more information, visit the website, Development Activity Information Center for Montgomery County.
Conclude by identifying any unmet retail demand (total retail square footage based on supportable demand from residents, employees and visitors) in the market area for two time periods (current and 2020). Compare these figures to the retail supply in the three major retail categories (NG&S, F&B, and GAFO). Finally, provide your assessment of the Lake Forest Mall site as a location for retail development.