Post on 21-Jan-2016
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 - 300,000 sq.ft.
– Regional shopping center• 300,000 - 750,000 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)