Services : Retail Analysis

Our clients engage us to evaluate site selection for demand potential and feasibility for retail centers and freestanding stores. Determining trade area, reviewing household spending characteristics and compiling an inventory of existing competitive retail facilities are standard components of our retail feasibility studies. Site analysis involves comprehensive review of traffic patterns, visibility, access and image of surrounding land uses.   

Maxfield Research Inc. is engaged by private and public clients to evaluate and analyze retail markets providing a clear picture of retail development opportunities. Retail developments are affected by several demographic, economic, and market factors. The retail analysis includes the following key components:
 
· Identification of market area(s) or trade area(s)
· Demographic, economic, and socio-economic trends
· Market conditions & competitive supply
· Demand calculations
· Recommendations
 
We begin our analysis by identifying the primary and secondary market areas based on existing competition, drive times, geography, psychological barriers, or other market area factors. Maxfield Research will provide detailed information on demographic trends such as consumer expenditures, household incomes, etc. In each market we then survey
competitive retail developments, including information on year built/renovated, type of center, square footage, occupancy, lease rates, concessions, etc. In addition, we provide information on area retail sales, retail gap analysis, and interview commercial real estate experts, retail organizations, and local business owners.  
 
Based on demographics and the competitive supply, Maxfield Research will calculate the amount of demand of retail space in the market and the percentage capturable by the subject project. Finally, we will provide detailed recommendations on the retail types (tenants and users) supportable, lease rates/pricing, estimated timeframe in which to
attract these users, and an absorption schedule. 
 
In addition, Maxfield Research provides the following ancillary retail services:
Surveys (email, mail, phone, or intercept), focus groups, retail recruitment brochures,
development of recruitment tools & action plan, and S.W.O.T. analysis.
 
 

Case Study

Analysis of the Market Potential for Redevelopment in Maple Plain, Minnesota
May 2007

 
Analysis of the Potential Demand for Commercial Space on Rice Street in St. Paul, Minnesota
June 2007
 
Analysis of the Potential Demand for Retail and Office Space in St. Croix Falls, Wisconsin
March 2006