CITY OF ELK GROVE CITY COUNCIL STAFF REPORT · Grove in order to improve resident quality of life,...

AGENDA ITEM NO. 10.1

CITY OF ELK GROVE CITY COUNCIL STAFF REPORT

AGENDA TITLE: Receive a presentation on the retail sector

of the Elk Grove economy and provide direction as appropriate

MEETING DATE: January 24, 2018 PREPARED BY/ Darrell A. Doan, Economic Development DEPARTMENT HEAD: Director RECOMMENDED ACTION: Receive a presentation on the retail sector of the Elk Grove economy and provide direction as appropriate. BACKGROUND INFORMATION: Consistent with City Council Goals and Imperatives, City staff is undertaking a number of activities and projects designed to boost the quantity and quality of retail, dining, and entertainment offerings in Elk Grove in order to improve resident quality of life, enhance business attraction activities, and grow the City’s sales tax base. For purposes of this report, “retail” is defined as brick and mortar shops, restaurants, and entertainment facilities that, taken together, are often referred to as “lifestyle” amenities. This report seeks to detail, among other matters: (a) the importance of retail for Elk Grove; (b) Elk Grove’s current retail position and competitiveness; (c) the City’s retail opportunity and steps being taken to realize that opportunity; and (d) an update on key current retail projects and activities.

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Elk Grove City Council January 24, 2018 of 11 The Importance of Retail for Elk Grove The retail sector of the Elk Grove economy is a key employer. According to the City’s 2016 Employment Analysis, as of the end of 2013, the City’s retail sector employed approximately 9,670 people in Elk Grove, or 21.6% of the City’s total jobs base. “Retail Trade” employment was virtually equal to “Educational Services, Health Care and Social Assistance” as the City’s largest jobs sector.1 Sales tax generated by retail transactions is the City’s largest revenue source by a wide margin, and it is critical to the City’s fiscal health in a post Proposition 13 environment. The City’s FY 2017-18 Annual Budget projects $25.4 million of sales tax revenue, which is 38% of the City’s General Fund; property tax at 18.9% ($12.3 million) is the next largest revenue source. The General Fund is the City’s primary source of discretionary revenue and is used to fund core City services, including public safety. Lifestyle amenities improve resident quality of life and make the City more competitive at attracting and retaining businesses and visitors. High quality lifestyle amenities are desired by millennial workers that increasingly make up the City’s residential population and the workforce of many established and emerging companies. Quality retail offerings enhance business and leisure travel and act as a regional visitor attraction. The City is overly dependent on sales tax generated from “Autos and Transportation” and “Fuel” transactions. These transactions accounted for 42% of sales tax receipts alone as of Q2 2017. That compares to 28.5% and 24.6% for the Sacramento Region and State of California, respectively. New car dealerships account for 11 of the City’s top 25 sales tax generating businesses.2 The City must diversify its retail base as a hedge against a slowdown in the auto industry, or changes in transportation preferences or technology resulting in fewer car and fuel sales. Elk Grove’s Competitive Retail Position Despite strong consumer demographics and other positive factors, outside of auto sales, Elk Grove is not a regionally competitive retail city in many respects and must improve its standing. As of Q2 2017, Elk Grove ranked 1 Source: City of Elk Grove; 2016 Employment Analysis. Staff is in the process of updating the employment analysis through the end of 2015; however, it is unlikely retail totals or percentages have changed markedly since 2013 as no substantial new projects have been constructed.

2 Source: HDL Companies; 2nd Quarter 2017 Sales Tax

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Elk Grove City Council January 24, 2018 of 11 fifth in per-capita retail sales out of seven regional cities tracked; the City ranks higher than Stockton and Citrus Heights, but lower than West Sacramento, Folsom, Rancho Cordova, and Sacramento.3 Elk Grove had 3,089 retail establishments out of 41,033 establishments in Sacramento County; that equates to only 7.5 % of the County’s retail outlets.4 Elk Grove is experiencing significant “retail leakage,” meaning Elk Grove residents are purchasing large quantities of taxable retail goods outside of the City limits. As of Q2 2017, Elk Grove lost retail sales outside the City in 20 of 29 categories tracked over the preceding year, and gained in only nine categories, and then only modestly. This resulted in a net loss of sales tax revenue to the City of approximately $1.66 million, which equates to $166 million in lost sales. Approximately 706,000 square feet of newly constructed and leased retail (in specific categories) would be required just to recapture leakage.5 Elk Grove lacks the available retail space necessary to compete regionally for higher quality tenants. At the end of Q3 2017, Elk Grove had approximately five million square feet of existing retail space in shopping centers, while the region contained approximately 48.5 million square feet; Elk Grove accounts for only 10.3% of regional available retail space. While the vacancy rate is low (3.9%) and rents are higher than average compared to the region ($23.28 per square foot per year), just 195,000 square feet of retail space is vacant in Elk Grove,6 and the majority of that vacancy is in small spaces in poorly performing locations. Elk Grove’s existing retail space is not diverse or modern. The majority of Elk Grove’s retail establishments are located in conventional and/or aging “strip malls” or “neighborhood” or “community” shopping centers7 designed for grocery or value store anchors, and are not suitable for higher-end retail or entertainment establishments. Additionally, Elk Grove lacks sufficient thriving neighborhood retail districts where more unique and local retailers,

3 Ibid. 4 Ibid. 5 Ibid. 6 Source: CBRE; Marketview, Sacramento Retail, Q32017 7 The International Council of Shopping Centers (ICSC) defines a “strip” center as averaging 13,000 square feet and comprised of a row of stores whose tenants provide a narrow mix of goods and personal services to a very limited trade area. A “neighborhood” center is a convenience oriented center averaging 72,000 square feet that is grocery store anchored. A “community” center averages 197,000 square feet and is comprised of general merchandise or convenience offerings such as discount stores, supermarkets, and electronics. Source: ICSC; US Shopping Center Classification and Typical Characteristics, April 2017

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Elk Grove City Council January 24, 2018 of 11 especially restaurants, want to locate. Only two neighborhood retail districts exist – Old Town and the Rural Community retail area – and they only account for roughly 3% of all retail sales in the City.8 Old Town in particular is an underperforming district that is not meeting its retail potential. While some newly established lifestyle businesses are finding success there, the district as a whole lacks a cohesive brand and merchandizing strategy; thus, there are too many of some types of businesses, and not enough of others. Outside Factors Affecting Elk Grove Retail Elk Grove’s retail landscape continues to be shaped and influenced by shopping opportunities outside of Elk Grove’s city limits. This is happening primarily on two levels. First, a number of “Power” and large “Community Center” shopping centers exist just outside of Elk Grove’s boundaries and serve Elk Grove residents; however, these centers duplicate offerings inside the City, and do not benefit the City from a revenue standpoint. Often these establishments are branded and addressed as Elk Grove stores. These include, among others, the centers located at Calvine Road and Highway 99 (such as Lowe’s, Target, and Sam’s Club), United Artists Laguna Village 12 movie theater at Sheldon Road and Bruceville Road, and the recently completed 561,000 square foot Delta Shores shopping center at Cosumnes River Boulevard and I-5 (which includes Walmart, Dick’s Sporting Goods, and RC Willey). Second, Elk Grove residents travel to Folsom and Roseville to shop at high-end “lifestyle shopping centers”9 like Palladio at Broadstone and The Fountains, respectively. Residents also frequent regional enclosed malls such as Arden Fair in Sacramento and The Galleria in Roseville. IKEA in West Sacramento is another probable destination. Compounding issues further, many mid- and high-end national specialty retail brands that might do well in Elk Grove (such as Crate & Barrel) view the Sacramento region as a one store region, and these stores already exist in the region, making it difficult for Elk Grove to attract those brands.

8 Source: HDL Companies; 2nd Quarter 2017 Sales Tax 9 The International Council of Shopping Centers (ICSC) defines a “lifestyle” shopping center as averaging 335,000 square feet and comprised of upscale national chain specialty stores with dining and entertainment in an outdoor setting. Source: ICSC; US Shopping Center Classification and Typical Characteristics, April 2017

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Elk Grove City Council January 24, 2018 of 11 The retail industry is undergoing a major shift as traditional brick and mortar retailers face stiffening competition from online-only and “omni-channel”10 retailers like Amazon and Walmart. However, in some cases, online retailers are purchasing brick and mortar brands to expand their reach and distribution capabilities, such as Amazon’s recent acquisition of Whole Foods. Other high-end on-line millennial brands are choosing to open physical stores, such as Warby Parker, Birchbox, and Shinola (becoming known as “click and mortar”). In response to online competition, the retail business is becoming increasingly known as omni-channel, where physical stores act as showrooms to drive on-line sales, or vice versa. Despite these shifts in retail practices, and the steady growth of on-line shopping, brick and mortar retail still dominates, accounting for 91.5% of retail transactions. Certain segments of traditional retail like groceries, clothing, and entertainment are thriving and growing, especially when located in high-end “lifestyle” shopping centers that offer an innovative blend of elevated dining, family entertainment, and luxury soft goods. These facilities typically cater to millennial or boomer shopping preferences, and are designed to offer a pleasing experience and environment that generates long linger times that leads to shopping as a by-product of visiting, as opposed to visiting just to shop. Elk Grove’s Retail Opportunity Elk Grove’s current retail offerings are often described by residents and others as being of average quality, lacking high-end brands, and overly value and commodity focused. While staff disagrees, retail brokers often opine that Elk Grove consumers don’t have high-end tastes, and this is why high-end brands don’t seek out the City. While value and commodity retail are important to Elk Grove’s residents and tax base, and must be maintained, the City’s immediate retail opportunity is the attraction of higher quality retail to the City in the form of national upscale lifestyle brands, elevated entertainment options, and polished and elevated dining (both national and regional). Elk Grove has many strengths that indicate an improving retail landscape in the near future. The City is successfully building a brand as a place to do business, and employment is increasing year over year, which creates 10 Omni-channel retail is an approach to retail sales that seeks to provide the customer with a seamless shopping experience whether the customer is shopping from a computer, from a mobile device, by telephone, or in a bricks and mortar shop.

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Elk Grove City Council January 24, 2018 of 11 increased consumer demand from a growing daytime population. Interest in the City from manufacturing and office users is strong and growing. The City is already known as a quality community in which to live. Elk Grove has over 11,000 residential units in various stages of planning or construction11 pointing to increased consumer demand from a large and growing residential population. Millennials are choosing Elk Grove as a place to live more than any other City in the State of California.12 Recent research commissioned by the City and conducted by CBRE Group, Inc. in 201513 and Retail Strategies in 2017,14 indicates Elk Grove’s consumer demographics are strong and capable of supporting more and higher quality retail. The Sacramento region is showing steady population growth and improving jobs growth, and, while retail leakage is a drain on the local economy, it represents a significant void for the regional market to fill. Finally, sales tax revenue is growing despite retail leakage; over the last 13 quarters, City sales tax receipts have grown by 21.2%,15 providing a strong revenue position from which to incur additional growth. These factors indicate that many high quality retailers who are not presently in the region, and/or those seeking additional market presence, are a good match for the City. If higher quality, more diverse retail offerings are available in Elk Grove, enhanced resident tastes and increased demand should manifest. While not all issues affecting retail in Elk Grove can be addressed by the City—and indeed, the private sector must be the driver—the City can play a key role in capitalizing on inherent and untapped market strengths by focusing primarily on new project and district-based development activities in order to create quality commercial space to attract such brands. The City can and should facilitate this development through a combination of: (a) providing all available assistance to developers, real estate brokers, and commercial tenants seeking to construct and occupy new retail space; (b) directly facilitating retail development where the City holds prime land, and in some cases, acquire such land; and (c) incentivize top desired retailers who would not otherwise choose Elk Grove and whose presence would have significant positive impacts (in the way the City incentivized Costco, for example). 11 Source: City of Elk Grove; Old Town Commercial Parcels Analysis 2016 12 Source: SmartAsset.com; Where are Millennials Buying Homes? – 2017 Edition 13 Source: CBRE; City of Elk Grove Municipality Report 14 Source: Retail Strategies; City of Elk Grove Retail Recruitment Plan 15 Source: HDL Companies; 2nd Quarter 2017 Sales Tax

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Elk Grove City Council January 24, 2018 of 11 Retail Consultant To assist the City in its efforts to improve retail offerings in Elk Grove, the City retained the services of Retail Strategies, a Birmingham, Alabama-based consultant firm who assists cities with retail recruitment efforts, and who represents several California jurisdictions. The contract is for a one-year period at a cost not to exceed $50,000. Since being retained, Retail Strategies has undertaken extensive activities on the City’s behalf. The contract calls for the following key services:

• Market Assessment: o Periodic in-market visits o Assemble a Retail Recruitment Plan o Compile and maintain a Focus Properties Report o Compile and maintain a Retail Target List

• Representation and Recruitment:

o Represent the City at 18 or more national and regional retail conferences

o Generate and pursue retail leads o Work with developers and real estate brokers to place leads at

appropriate properties All of these activities are in-process and on-going. Retail Recruitment Plan Attached to this report is the current version of the Retail Recruitment Plan, prepared by Retail Strategies, which is subject to revision from time to time as market conditions change. The Retail Recruitment Plan, among other information: (a) quantifies the City’s consumer demographics; (b) defines the City’s primary retail trade area, and (c) lays out a six-zone strategy for retail improvement. The six key retail zones identified in the Retail Recruitment Plan include the following: Zone 1: I-5 Zone 2: Laguna/Bond & 99 Zone 3: Elk Grove Boulevard Zone 4: Old Town Zone 5: Kammerer Road & Grant Line Road Zone 6: Rural Community Retail

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Elk Grove City Council January 24, 2018 of 11 While all of the City’s retail and retail zones are important, and staff undertakes activities and projects in support of all of them, the Retail Recruitment Plan is focused primarily on Zones 2, 3, 4, and 5. Pages 58 and 59 of the Retail Recruitment Plan lays out strategies to be implemented in these zones. On-Going Retail Projects and Activities There are eight shopping centers in various stages of planning and development in Elk Grove totaling approximately 1.8 million square feet. Some, such as the mall property, are partially built and stalled by developer choice, others like Costco are in construction, and still others like the Promenade (just west of the mall) are probably years away. In addition, a number of key retail projects and tenant recruitment activities are in various stages of planning and development. These projects, if achieved, could provide rapid improvement for Elk Grove’s retail environment. A number of these projects are detailed below. Elk Grove Collection (The Mall) Staff continues to assist the Howard Hughes Corporation with its efforts to develop the regional mall property at Highway 99 and Kammerer Road in south Elk Grove, now known as the “Elk Grove Collection.” The approximately 500,000 square foot project has been referred to as an “outlet mall,” but in reality is a hybrid of a lifestyle center and an outlet mall, containing a unique mix of outlet and full price retailers, elevated dining, and entertainment venues. Its uniqueness is furthered by the potential development of a four-star gaming resort and entertainment facility to be located adjacent to the project and integrated into the design. Leasing activity increased in 2017, and interest in the project from retail tenants is currently high. Based on conversations with the mall developer and prospective tenants, this is due in part to the recent state and federal approvals of the adjacent gaming resort project. The current tenant mix is positive and represents a tangible increase in both the quantity and quality of retail for the City if the project is built. Several new lease signings provide optimism for a start of construction in 2018, although this cannot be guaranteed.

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Elk Grove City Council January 24, 2018 of 11 Pursuant to the approved Development Agreement for the property, the initial phase of the project (at least 400,000 square feet) must be completed by mid-November 2018, or the development rights granted in the Development Agreement expire. A separate but related agreement regarding infrastructure reimbursement (totaling more than $15 million to be reimbursed through sales tax sharing) requires this initial phase of the project to be open to the public by mid-November 2018; otherwise, the funds are forfeited. Staff will continue to assist and support the developer and prospective tenants in all ways possible. Start of construction and completion dates are unknown at this time. Gaming Resort and Entertainment Facility (Casino) While not a City project, the approximately 600,000 square foot Wilton Rancheria Tribe gaming resort (located on land held by the federal government in trust for the Tribe and adjacent to the Elk Grove Collection), will contain significant lifestyle amenities, including restaurants and entertainment venues. Given its proximity to and effect on the Elk Grove Collection, the project would have a significant retail impact on the City. Through an agreement between the City and the Tribe, the project will also provide significant payments to the City in lieu of sales and other taxes which would not be applicable to the project due to the federal tribal nature of the land and the development. As noted above, all state and federal approvals for the project have been granted, but remain subject to challenge in pending litigation. Start of construction and completion dates are unknown at this time. Costco Staff continues to assist the Ridge EG East, LP and LLC (entities of Pappas Investments) (the land owner) and Costco Wholesale Corporation with efforts to permit and construct an approximately 150,000 square foot Costco store at the southeast corner of Elk Grove Boulevard and Bruceville Road. In December 2017, Costco and the land owner executed a lease for the project, and Costco pulled building permits on December 29, 2017. Costco advised the City it plans to proceed with construction in January 2018 and complete construction and open the store in summer 2018. As of the date of this report, initial site preparation (e.g., survey work, silt fencing) was underway.

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Elk Grove City Council January 24, 2018 of 11 The Ridge Staff continues to assist the Ridge EG East, LP and LLC (entities of Pappas Investments) (the developer) with efforts to permit and construct an approximately 226,000 square foot shopping center project known as The Ridge, located adjacent to and directly east of the Costco project. The Planning Commission approved the project on May 5, 2016. To date, the developer has not made an application to the City for a building permit. The developer advises that leasing activity has been ongoing; however, it is expected that leasing activity will accelerate now that the Costco project is under construction. Start of construction and completion dates are unknown at this time. 9676 Railroad Street (in Old Town) In June 2017, Council authorized staff to execute a Purchase and Sale Agreement to acquire an approximately 1.75-acre property in Old Town at 9676 Railroad Street (south of the Old Town Plaza) which contains a 5,000 square foot historic building. In October 2017 the City completed its acquisition of the property. Staff is now evaluating preservation and development options for the property for the purpose of constructing a winery, brewery, or restaurant project, and is also evaluating the feasibility of acquisition and development of additional adjacent properties. The intent of the project is to facilitate a catalytic development that will generate visitors to and foot traffic in Old Town and act as an attractor for additional retail, dining, and entertainment activity in the area. Following evaluation of development feasibility, if warranted, staff will return to the Council to seek authorization to proceed with the project, possibly in the first half of 2018. Lifestyle Shopping Center Staff is evaluating the potential for development of a lifestyle shopping center project on City-owned land (approximately 20 acres) along Elk Grove Boulevard just north of the City’s Civic Center, which is currently under construction. Staff is also evaluating partnership opportunities with adjacent land owners. The project envisioned by staff would be similar in concept to The Fountains in Roseville and would consist of an elevated mix of entertainment, restaurants, and shopping. Following evaluation of development feasibility, if warranted, staff will return to Council to seek authorization to proceed with the project, possibly in the first half of 2018.

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Elk Grove City Council January 24, 2018 of 11 Breweries and Wineries Over the past two-plus years, staff has actively been marketing the City to brewery and winery operators and has created a Brewery and Winery Assistance and Incentive Program. These efforts have directly led to the establishment of four brewing and tasting room operations including Dreaming Dog Brewery, Waterman Brewing Company, Flatland Brewing Company, and Tilted Mash Brewing. Small incentives and permit assistance were provided to each operator. Staff continues to recruit brewery operations to the City, and staff is now beginning to see some traction with winery operations as well. “Brewspace” Staff is working with a developer to evaluate the feasibility of constructing a “brew hall” project in Elk Grove. In concept, the project would consist of a large facility containing multiple small brewing operations, a shared brew house, and tasting rooms contained in a single building open to the public. The project would also contain a restaurant component. Following evaluation of development feasibility, if warranted, staff will return to Council to seek authorization to participate in the project, possibly in the first half of 2018. General Retail Prospecting and Assistance In addition to the projects discussed above, staff, provides extensive on-going assistance to land owners, landlords, brokers, and tenants who are evaluating Elk Grove as a potential location for retail uses. Staff and the City’s retail consultant are engaged in current discussions on a number of fronts including:

• Regional chef-driven dining • Polished casual restaurants • Health club and spa projects • Golf entertainment concepts • Luxury movie theaters

FISCAL IMPACT: The current action has no fiscal impact to the City’s budget. ATTACHMENT:

1. Retail Recruitment Plan prepared by Retail Strategies

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ch

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at is

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ly to

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ffere

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42

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Disc

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oss

the

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43

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alre

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rem

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TAP

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gro

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l tap

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prov

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furt

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xam

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stry

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men

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gmen

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pare

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k G

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etai

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alo

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activ

ely

purs

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a v

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men

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atio

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naly

sis

46

Focu

s C

ateg

orie

s

47

Disc

over

: Foc

us C

ateg

orie

s

Ret

ail S

trat

egie

s' a

ppro

ach

to re

tail

recr

uitm

ent b

egin

s by

iden

tifyi

ng fo

ur fo

cus

reta

il c

ateg

orie

s. U

sing

a p

roce

ss th

at

com

bine

s: m

arke

t sup

ply

and

dem

and,

pee

r co

mm

unity

com

paris

on, i

ndus

try

insi

ght,

as

wel

l as

our o

wn

expe

rienc

e an

d in

tuiti

on, w

e ar

e ab

le to

iden

tify

the

spec

ific

cate

gorie

s of

re

tail

whe

re y

our m

arke

t is

mos

t lik

ely

to

supp

ort g

row

th. H

owev

er, i

t is

impo

rtan

t to

keep

in m

ind

that

our

out

reac

h on

beh

alf o

f yo

ur c

omm

unity

will

nev

er b

e st

rictly

lim

ited

to r

etai

lers

with

in th

e re

sulti

ng c

ateg

orie

s.

Our

str

ateg

ic a

ppro

ach

to id

entif

ying

you

r fo

cus

cate

gorie

s ca

n be

bro

ken

dow

n in

to

the

follo

win

g 3

step

s:

Util

izin

g a

stra

tegi

c ap

proa

ch to

det

erm

ine

whe

re y

our

mar

ket c

an

supp

ort s

usta

inab

le

grow

th is

the

key

to

focu

sed

reta

il re

crui

tmen

t

37

Ste

p 1: G

ap A

naly

sis

Ret

ail S

trat

egie

s us

es S

TI: M

arke

t Out

look

to

prov

ide

accu

rate

and

relia

ble

supp

ly-d

eman

d in

sigh

tuse

d to

iden

tify

the

cons

umer

dem

and

gaps

in y

our t

rade

are

a. T

he d

ata

for

STI:

Mar

ket O

utlo

ok is

der

ived

from

ann

ual r

etai

l sa

les

and

expe

nditu

res

from

the

follo

win

g th

ree

maj

or s

ourc

es o

f inf

orm

atio

n: U

.S.

Bur

eau

of L

abor

Sta

tistic

s' C

onsu

mer

Ex

pend

iture

(CE)

Sur

vey

-D

eman

d da

ta is

de

rived

from

this

sou

rce.

U.S

. Cen

sus

Bur

eau'

s C

ensu

s of

Ret

ail T

rade

(CR

T)

repo

rts

-Th

ese

annu

al a

nd m

onth

ly re

port

s co

ntrib

ute

to M

arke

t Out

look

's s

uppl

y da

ta.

U.S

. Cen

sus

Bur

eau'

s Ec

onom

ic C

ensu

s -

Supp

ly d

ata

is a

lso

deriv

ed fr

om th

is s

ourc

e,

whi

ch p

rovi

des

an e

ven

mor

e de

taile

d vi

ew

than

the

CR

T re

port

s. In

dust

ries

for

the

cons

umer

exp

endi

ture

s su

rvey

are

ca

tego

rized

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def

ined

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the

Nor

th

Am

eric

an In

dust

ry C

lass

ifica

tion

Syst

em

(NA

ICS)

.

Ste

p 2: P

eer Ana

lysi

s

Our

Pee

r Ana

lysi

s be

gins

by

runn

ing

a de

mog

raph

ic p

rofil

e ba

sed

on a

spe

cifie

d dr

ive-

time

from

the

maj

or re

tail

node

in y

our

mar

ket.

Then

com

parin

g ce

rtai

n va

riabl

es (

i.e.

resi

dent

ial p

opul

atio

n, d

aytim

e po

pula

tion,

m

edia

n ho

useh

old

inco

me,

and

mar

ket

supp

ly)

to th

e sa

me

driv

e-tim

e ge

ogra

phy

from

the

maj

or re

tail

node

in o

ther

mar

kets

w

ithin

you

r reg

ion

of th

e co

untr

y. T

akin

g it

a st

ep fu

rthe

r we

then

ass

ess

the

reta

il cu

rren

tly

loca

ted

with

in th

e pe

er m

arke

ts w

ith th

e re

tail

as it

exi

sts

in y

our m

arke

t tod

ay. T

he la

st s

tep

of th

is p

hase

is to

pre

form

a v

oid

anal

ysis

to

iden

tify

the

spec

ific

reta

ilers

loca

ted

with

in

thos

e m

arke

ts th

at a

re n

ot c

urre

ntly

loca

ted

with

in E

lk G

rove

.

Ste

p 3: W

hat W

e K

now

Our

app

roac

h w

ould

not

be

com

plet

e w

ithou

t th

is la

st s

tep.

Thi

s is

bec

ause

if w

e w

ere

to

base

our

effo

rts

sole

ly o

n w

hat t

he d

ata

tells

us

we

wou

ld b

e le

avin

g ou

t the

man

y va

riabl

es

influ

enci

ng re

taile

rs a

ctua

l gro

wth

asp

iratio

ns.

Ret

aile

r’s s

trat

egie

s ar

e co

nsta

ntly

cha

ngin

g an

d ou

r tea

m is

act

ivel

y tr

acki

ng e

xpan

sion

s an

d cl

osur

es o

f ret

aile

rs o

n a

natio

nal,

regi

onal

an

d lo

cal l

evel

. B

y m

onito

ring

the

late

st a

s it

rela

tes

to th

ese

impo

rtan

t ind

ustr

y tr

ends

we

are

able

to c

ombi

ne w

hat t

he d

ata

tells

us

with

re

al w

orld

insi

ght t

o fo

cus

on e

xpan

ding

co

ncep

ts lo

okin

g fo

r mar

kets

just

like

you

rs.

Pre

form

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p an

alys

is is

the

first

ste

p be

caus

e it

prov

ides

a d

irect

com

paris

on

betw

een

annu

al re

tail

sale

s an

d co

nsum

er

spen

ding

on

a ca

tego

rical

leve

l.

Iden

tific

atio

n an

d co

mpa

rison

of c

omm

uniti

es

with

sim

ilar r

etai

l mar

ket c

hara

cter

istic

s to

m

easu

re y

our r

etai

l bas

e an

d id

entif

y op

port

uniti

es fr

om a

cat

egor

ical

per

spec

tive

is

the

next

ste

p in

our

pro

cess

.

48

38

Disc

over

: Tot

al M

arke

t Sup

ply

Tota

l Mar

ket S

uppl

y$2

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This

rep

rese

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nt o

f an

nual

con

sum

er s

pend

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busi

ness

es lo

cate

d in

the

defin

ed tr

ade

area

by

bloc

k gr

oup.

The

are

as w

ith

dark

er g

reen

are

cap

turin

g m

ore

cons

umer

dol

lars

.

Pre

pare

d fo

r El

k G

rove

_CA

by R

etai

l Str

ateg

ies

Dat

a So

urce

: STI

: Mar

ket O

utlo

ok

49

39

Disc

over

: Tot

al M

arke

t Dem

and

Tota

l Mar

ket D

eman

d$5

,647

,836

,197

This

rep

rese

nts

the

amou

nt

spen

t by

cons

umer

s lo

cate

d in

th

e de

fined

trad

e ar

ea b

y bl

ock

grou

p. In

the

dark

gre

en a

reas

th

e co

nsum

er s

pend

ing

is

high

er.

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

50

40

Disc

over

: Opp

ortu

nity

Gap

Tota

l Mar

ket L

eaka

ge

$2,6

93,8

74,8

45

This

mea

ns m

ore

peop

le p

urch

ase

item

s ou

tsid

e of

the

defin

ed E

lk G

rove

tr

ade

area

than

in th

e El

k G

rove

de

fined

trad

e ar

ea fo

r th

eir

cons

umer

go

ods

and

serv

ices

. Fin

ding

the

spec

ific

cate

gorie

s w

here

they

are

le

avin

g th

e m

arke

t is

the

key.

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

51

41

Disc

over

: Opp

ortu

nity

Gap

Pre

pare

d fo

r El

k G

rove

_CA

by R

etai

l Str

ateg

ies

D

ata

Sour

ce: S

TI: M

arke

t Out

look

OP

PO

RTU

NTI

Y G

AP

BY

RET

AIL

CAT

EGO

RY

$364

,700

,550

$205

,464

,169

$179

,811

,046

$165

,643

,969

$81,

902,

258

$60,

708,

464

$57,

503,

462

$44,

934,

790

$50,

032,

078

$25,

026,

355

$0$1

00,0

00,0

00$2

00,0

00,0

00$3

00,0

00,0

00$4

00,0

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00

Gen

eral

Mer

chan

dise

Sto

res

Clo

thin

g &

Clo

thin

g A

cces

sorie

s St

ores

Food

& B

ever

age

Stor

es

Bui

ldin

g &

Gar

den

Stor

es

Hea

lth &

Per

sona

l Car

e

Elec

tron

ics

& A

pplia

nce

Stor

es

Hom

e Fu

rnis

hing

Sto

res

Aut

omot

ive

Par

ts &

Acc

esso

ries

Stor

es

Food

serv

ice

& D

rinki

ng P

alce

s

Spor

ting

Goo

ds &

Hob

by S

tore

s

52

42

Disc

over

: Pee

r Ana

lysis

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

Cit

ySta

teR

esid

enti

al

Pop

Day

tim

e Pop

M

edia

n H

H I

ncom

eM

edia

n D

ispo

sabl

eIn

com

eC

onsu

mer

Dem

and

(Ret

ail

Dol

lars

$)

Ret

ailS

uppl

y/D

eman

d(+

) Sho

rtag

e / (

-) S

urpl

us

Elk

Grov

eCA

331,

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293,

079

$ 61

,646

$ 53

,857

$ 5,

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516,

746

+$

1,8

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80

Esc

ondi

doC

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50,3

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59

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ders

onN

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-$ 5

63

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30

Oxn

ard

CA

29

0,1

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32

5,1

54

67

,44

458

,81

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98

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$ 2

26

,74

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06

Clo

vis

CA

33

0,6

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38

9,9

96

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,605

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62

-$ 1

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3,1

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23

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87

,66

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taC

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307

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7,4

14

CIT

Y C

OM

PAR

ISO

N R

EPO

RT

10 M

in D

rive

Tim

e Fr

om P

rimar

y R

etai

l Nod

e

53

43

Disc

over

: Pee

r Ana

lysis

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

0

34

15

23

2

17

9

44

20

119

74

31

47

24

33

4

25

13

58

33

139

9 6

5

Art

s &

Ente

rtai

nmen

tA

utom

otiv

eC

loth

ing

&A

cces

sorie

sC

offe

e, J

uice

& S

moo

thie

Dep

artm

ent

Stor

esFu

ll Se

rvic

eR

esta

uran

tsH

ardw

are

&G

arde

nH

ealth

&M

edic

ine

Lim

ited

Serv

ice

Res

taur

ants

Qui

ck S

ervi

ceR

esta

uran

tsSh

oe S

tore

sSp

ecia

ltyG

roce

rySp

orts

&R

ecre

atio

n

Elk

Gro

ve, C

AP

eer

Ave

rage

PPEE

R A

NA

LYSI

S B

Y R

ETA

IL C

ATEG

OR

Y

54

44

Disc

over

: 201

6 U.

S. S

tore

Ope

ning

s

Reta

ilers

Ope

ned

42,0

00 S

tore

s in

201

6

Tena

nt m

ixes

are

bec

omin

g in

crea

sing

ly fo

od-b

ased

.

Spec

ialty

food

—fa

st c

asua

l & o

rgan

ic g

roce

ry a

re b

ecom

ing

mai

nstr

eam

.

Fitn

ess/

Hea

lth/S

pa C

once

pts

Dru

g St

ores

Thrif

t Sto

res

Gro

cery

(Sm

alle

r Fo

rmat

)

•D

isco

unt

•Et

hnic

•O

rgan

ic

•U

psca

le

Fast

Foo

d

Fast

Cas

ual

(~40

% o

f res

taur

ant g

row

th a

ttrib

uted

to F

ast C

asua

l con

cept

s)

Reta

il Gr

owth

Aut

omot

ive

Dis

coun

ters

Dol

lar

Stor

es

Chi

ldre

n’s

App

arel

Off-

Pric

e A

ppar

el

Bea

uty/

Cos

met

ics/

Frag

ranc

es

Pet

Sup

plie

s

Spor

ting

Goo

ds

Wire

less

Sto

res

Ban

ks

Reta

il Co

ntra

ctio

n

Boo

k st

ores

Mul

timed

ia S

tore

s

Do-

It-Yo

urse

lf H

ome

Stor

es

Mid

-pric

ed A

ppar

el

Mid

-pric

ed G

roce

ry

Offi

ce S

uppl

ies

Con

sum

er E

lect

roni

cs

Stat

ione

ry/G

ift S

hops

Ship

ping

/Pos

tal S

tore

s

Cas

ual D

inin

g –

Old

er C

once

pts

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

55

45

Disc

over

: 201

7 U.

S. P

lann

ed E

xpan

sion

16,5

00

14,9

50

2,30

01,

800

1,40

075

045

0

Res

taur

ant

Oth

erA

ppar

elD

olla

r St

ore

Hom

eG

roce

ryD

rug

Stor

e

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

56

Ret

ail P

rosp

ects

57

47

Disc

over

: Top

Cat

egor

ies f

or R

ecru

itmen

t

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

Spe

cial

ty G

roce

rR

esta

uran

ts

App

arel

Spo

rtin

g G

oods

&

Rec

reat

ion

App

arel

***

For

the

purp

ose

of th

is s

tudy

Foc

us C

ateg

orie

s id

entif

y w

here

the

mar

ket c

an s

uppo

rt th

e m

ost s

igni

fican

t gro

wth

with

mar

ketc

ondi

tions

as

they

exi

st to

day.

How

ever

, Ret

ail S

trat

egie

s re

crui

tmen

t effo

rts

will

in n

o w

ay b

e so

lely

lim

ited

to r

etai

lers

that

fall

with

in th

e to

p fo

ur c

ateg

orie

s.

58

48

Reta

il Ca

tego

ry: R

esta

uran

ts

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

Rest

aura

nts

1,20

0 -

7,00

0 sq

. ft.

(avg

per)

30+

Pro

spec

ts Id

entif

ied

New

to m

arke

t Fas

t Cas

ual

Pol

ishe

d C

asua

l Ful

l Ser

vice

Loca

l & R

egio

nal B

rand

s

Con

sum

ers’

pen

t-up

dem

and

for

new

, in

nova

tive

rest

aura

nt s

ervi

ces

rem

ains

el

evat

ed c

ompa

red

to h

isto

rical

leve

ls.

Con

sum

ers’

food

-dec

isio

n m

atrix

has

gr

own

incr

easi

ngly

com

plex

, bei

ng m

ore

enga

ged

and

disc

erni

ng th

an e

ver b

efor

e w

hen

dini

ng o

ut. D

iner

s ar

e m

ore

know

ledg

eabl

e ab

out f

ood

and

have

com

e to

exp

ect m

enu

optio

ns th

at fi

t the

ir di

etar

y pr

efer

ence

s no

mat

ter w

hen

or w

here

they

vi

sit r

esta

uran

ts. T

his

has

resu

lted

in fo

od

tren

ds b

ecom

ing

mor

e co

ncep

t-ba

sed

than

ingr

edie

nt-b

ased

, with

an

evol

ving

fo

cus

on p

rodu

ctio

n, s

ourc

ing

and

prep

arat

ion.

Pros

pect

s Id

entif

ie

’pen

tup

dem

and

for

new

Rep

rese

ntat

ive

Bra

nds:

59

49

Reta

il Ca

tego

ry: S

pecia

lty G

roce

r

Pre

pare

d fo

r El

k G

rove

_CA

by R

etai

l Str

ateg

ies

Ther

e w

ill b

e ap

prox

imat

ely

750

new

gro

cery

st

ores

ope

n in

the

coun

try

this

yea

r.

This

cat

egor

y is

see

ing

a gr

eat d

eal o

f act

ivity

in

mer

gers

and

acq

uisi

tions

in 2

015-

2016

. C

onsu

mer

sho

ppin

g pa

ttern

s ha

ve c

hang

ed.

We

are

far m

ore

heal

th c

onsc

ienc

e th

en in

pa

st y

ears

. Gro

cery

cha

ins

focu

sed

on h

ealth

, va

lue

and

conv

enie

nce

will

thr

ive.

Gro

cery

an

chor

ed s

hopp

ing

cent

ers

dom

inat

e th

e m

ajor

ity o

f the

cou

ntry

’s g

ross

leas

able

are

a (G

LA).

New

gro

und

up c

onst

ruct

ion

toda

y is

ty

pica

lly g

roce

ry a

ncho

red.

In a

dditi

on, t

here

is

larg

e op

port

unity

to r

edev

elop

an

exis

ting

shop

ping

cen

ter w

ith th

e rig

ht g

roce

ry s

tore

.

Spec

ialty

Gro

cer

~18

,000

-12

5,00

0 sq

. ft.

5+ P

rosp

ects

Rep

rese

ntat

ive

Bra

nds:

60

50

Reta

il Ca

tego

ry: A

ppar

el &

Sho

e

App

arel

sto

res

like

to c

lust

er a

nd c

reat

e cr

oss

shop

ping

with

str

ong

co-t

enan

ts.

App

arel

is a

cat

egor

y th

at s

how

s ev

iden

ce o

f bi

furc

atio

n. T

he lu

xury

bra

nds

are

thriv

ing

and

the

valu

e br

ands

are

thriv

ing.

The

app

arel

sto

res

that

offe

r an

ave

rage

pro

duct

at a

n av

erag

e pr

ice

are

shrin

king

. D

urin

g th

e re

cess

ion,

con

sum

ers

lear

ned

they

can

re

ceiv

e a

qual

ity p

rodu

ct a

t a d

isco

unte

d pr

ice.

Pos

t-re

cess

ion

cons

umer

con

fiden

ce is

at a

7 y

ear h

igh.

C

onsu

mer

s ar

e sa

ving

thei

r dis

posa

ble

inco

me

for

luxu

ry it

ems

and

purc

hasi

ng th

e re

st o

f the

thei

r pr

oduc

ts a

t a d

isco

unt.

App

arel

is a

pop

ular

cat

egor

y fo

r on

-line

sho

ppin

g w

hich

has

bee

n a

chal

leng

e fo

r br

ick-

and-

mor

tar e

xpan

sion

. C

usto

mer

ser

vice

and

cu

stom

izat

ion

are

mor

e im

port

ant t

han

ever

Appa

rel/S

hoe

Stor

es

~1,2

00 -

25,0

00 s

q. ft

.

20+

Pros

pect

s

Pre

pare

d fo

r El

k G

rove

_CA

by R

etai

l Str

ateg

ies

Off-

Pric

e –

Dis

coun

ted

Rep

rese

ntat

ive

Bra

nds:

Fast

Fas

hion

Rep

rese

ntat

ive

Bra

nds:

Luxu

ry –

Spec

ialty

R

epre

sent

ativ

e B

rand

s:

61

51

Reta

il Ca

tego

ry: S

port

ing

& R

ecre

atio

n

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

Gro

wth

cat

egor

y cu

rren

tly a

ctiv

e in

new

con

stru

ctio

n an

d se

cond

gen

erat

ion

spac

e.

Muc

h lik

e ot

her m

arke

t seg

men

ts, w

e ar

e se

eing

the

big

box

spor

ting

good

s co

ncep

ts re

duce

thei

r fo

otpr

ints

to s

tay

aflo

at w

ith e

-com

mer

ce c

ontin

uing

its

ris

e. W

e ar

e al

so s

eein

g so

me

redu

ctio

n in

mar

ket

com

petit

ion

in s

ome

mar

kets

with

Spo

rts

Aut

horit

y an

d Sp

orts

Cha

let

clos

ing

stor

es n

atio

nwid

e. T

he

smal

ler S

F sp

ortin

g go

ods

conc

epts

are

ver

y ac

tive

in

mar

kets

that

are

cur

rent

ly n

ot s

erve

d by

the

big

boys

. W

e ar

e al

so s

eein

g a

surg

e in

the

outd

oor s

tore

se

gmen

t as

new

con

cept

s se

em to

be

crop

ping

up

on

a ye

arly

bas

is.

Spor

ting

Good

s &

Rec

reat

ion

~2,5

00 -

100,

000+

sq.

ft.

4+ P

rosp

ects

Rep

rese

ntat

ive

Bra

nds:

62

52

Reta

il Pr

ospe

cts:

Cat

alyt

ic Pr

ojec

t

Cat

alyt

ic P

roje

ct O

ppor

tuni

ty

Pre

pare

d fo

r El

k G

rove

_CA

by R

etai

l Str

ateg

ies

Com

mun

ities

that

see

k to

incr

ease

the

leve

l and

qua

lity

of r

etai

l to

high

er-e

nd

and

spec

ialty

ups

cale

sto

res

ofte

n ne

ed a

ca

taly

tic p

roje

ct th

at c

an d

emon

stra

te th

e “L

ive,

wor

k, p

lay”

mod

el. I

n or

der t

o at

trac

t thi

s m

odel

of d

evel

opm

ent a

m

arke

t mus

t hav

e fa

vorin

g ge

ogra

phy

with

lim

ited

com

petit

ion

in o

rder

for

it to

ad

equa

tely

ser

ve 5

00,0

00 o

r m

ore

peop

le.

Thes

e m

ixed

-use

dev

elop

men

t

typi

cally

incl

ude

apa

rtm

ents

, con

dos,

re

stau

rant

s, m

ovie

thea

ters

, gro

cery

st

ores

, app

arel

sto

res,

and

mos

t ofte

n w

ill

incl

ude

at le

ast o

ne h

otel

. Si

ze a

nd

scop

e of

thes

e de

velo

pmen

ts w

ill v

ary

rela

tive

to th

e ov

eral

l sup

ply

and

dem

and

the

give

n m

arke

t, bu

t mos

t of t

he ti

me

cum

ulat

ive

gros

s le

asab

le a

rea

will

be

grea

ter t

han

300,

000

squa

re fe

et.

LIVE

WO

RK

P

LAY

Rep

rese

ntat

ive

Bra

nds:

“Ret

ailta

inm

ent”

63

Boo

ts o

n th

e G

roun

dR

eal E

stat

e A

naly

sis

64

54

Boot

s on

the

Grou

nd

Purp

ose

To id

entif

y an

d re

cord

th

e pr

imar

y re

al e

stat

e op

port

uniti

es w

ithin

th

e m

arke

t.

This

ana

lysi

s w

as p

erfo

rmed

by

licen

sed

real

est

ate

prof

essi

onal

s

with

mor

e th

an 1

5 ye

ars

of

expe

rienc

e w

ith d

evel

opm

ent,

leas

ing,

and

red

evel

opm

ent.

Info

rmat

ion

Colle

cted

Add

ress

Pro

pert

y D

escr

iptio

n

Coo

rdin

ates

List

ing

Age

nt (

if po

ssib

le)

Con

tact

Info

for

Age

nt o

r O

wne

r

Web

Add

ress

for

Age

nt o

r O

wne

r

Link

to P

rope

rty

Info

on

Age

nt o

r O

wne

r’s W

ebsi

te

Goo

gle

Eart

h Li

nk to

Aer

ial P

hoto

Goo

gle

Eart

h Li

nk to

Gro

und

Pho

to

Tota

l Siz

e of

Cen

ter

(if e

xist

ing)

Avai

labl

e Sp

ace

in C

ente

r

Par

cel S

ize

(if v

acan

t lan

d)

Exis

ting

Tena

nts

(if e

xist

ing)

Traf

fic C

ount

at P

rope

rty

Sum

mar

y of

Rec

ruitm

ent

Opp

ortu

nitie

s Sp

ecifi

c to

Pro

pert

y

Spec

ific

Pro

spec

ts fo

r P

rope

rty

Ove

rall

Stra

tegy

for

Pro

pert

y

Gen

eral

Com

men

ts

Real

Est

ate

Anal

ysis:

Boo

ts o

n th

e Gr

ound

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

65

55

Curr

ent R

etai

l Ove

rvie

wRe

al E

stat

e An

alys

is: C

urre

nt R

etai

l Aer

ial

Pre

pare

d fo

r El

k G

rove

_CA

by R

etai

l Str

ateg

ies

**N

ote:

For

cla

rity

purp

oses

not

all

reta

ilers

are

list

ed o

n th

is m

ap

66

56

Curr

ent R

etai

l Ove

rvie

wRe

al E

stat

e An

alys

is: M

ajor

Ret

ail Z

ones

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

Reta

il Zo

ne O

verv

iew

Whi

le the

re a

re a

few

nei

ghbo

rhoo

d se

rvin

g re

tail

loca

tion

s sc

atte

red

thro

ugho

ut E

lk G

rove

, mos

t of

the

maj

or r

etai

l clu

ster

s ar

e an

chor

ed b

y la

rge-

form

at (i

.e. bi

g bo

x) r

etai

lers

. The

Cit

y ha

s a

num

ber of

dis

tinc

t re

tail

cent

ers

and

corr

idor

s. Z

ones

1,2

, and

3 id

entify

thos

e ar

eas

whe

re the

m

arke

t’s

maj

or r

etai

l cen

ters

are

loca

ted.

Ret

ail

yner

gy is

cur

rent

ly th

e st

rong

est i

n Zo

ne 2

(La

guna

Blv

d.) an

d Zo

ne 3

(Elk

Gro

ve B

lvd.

) whi

ch w

ill

likel

y m

ake

the

oppo

rtun

itie

s al

ong

thes

e co

rrid

ors

the

mos

t att

ract

ive

to

deve

lope

rs a

nd n

atio

nal r

etai

lers

. Zon

e 4 (

Old

Tow

n) a

nd Z

one

5 (

Out

let

Mal

l) re

pres

ent un

ique

ret

ail d

estina

tion

s. Z

one

6 t

he r

ural

ret

ail a

rea

is

loca

ted

betw

een

Gra

nt L

ine

and

She

ldon

Roa

ds.

**N

ote:

For

cla

rity

purp

oses

not

all

reta

ilers

are

list

ed o

n th

is m

ap

67

57

Curr

ent R

etai

l Ove

rvie

wRe

al E

stat

e An

alys

is: F

ocus

Zon

es

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s**

Not

e: F

or c

larit

y pu

rpos

es n

ot a

ll re

taile

rs a

re li

sted

on

this

map

Focu

s Zo

ne O

verv

iew

Ret

ail S

trat

egie

s w

ill s

uppo

rt r

etai

l gro

wth

and

dev

elop

men

t in

all

area

s w

ithi

n th

e ci

ty li

mits

of E

lk G

rove

. H

owev

er, b

ased

on

our

anal

ysis

, exp

erie

nce,

and

the

cur

rent

ret

ail s

yner

gy a

s it

exi

sts

in th

e m

arke

t to

day,

we

feel

the

mos

t im

med

iate

reta

il re

al e

stat

e op

port

unit

ies

can

be f

ound

wit

hin

zone

s 2

,3,4

, and

5. Th

eref

ore,

our

ef

fort

s w

ill b

e pr

imar

ily f

ocus

ed w

ithi

n th

ese

four

are

as.

68

58

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

ZZON

ED

ESC

RIP

TIO

NO

PP

OR

TUN

ITY

STR

ENG

THS/

CH

ALL

ENG

ES

STR

ATE

GY

ZON

E2

Lagu

na/ B

ond

& 9

9•

Mai

ntai

n su

cces

sful

exis

ting

tena

nts.

•Fi

ll ke

y va

canc

ies.

•D

evel

op re

mai

ning

reta

il la

nds.

Som

e of

the

City

’s n

ewes

t and

bes

t per

form

ing

reta

il ce

nter

s ar

e lo

cate

d in

this

are

a su

ch a

s th

e La

guna

Cro

ssro

ads,

La

guna

Gat

eway

, Mar

ketp

lace

99,

and

Lag

una

Res

erve

M

arke

tpla

ce c

ente

rs.

Whi

le th

ere

are

som

e pr

oper

ty s

peci

fic

obst

acle

s su

ch a

s vi

sibi

lity,

acc

ess,

and

par

king

, the

maj

ority

of

the

zone

’s p

ower

and

gro

cery

anc

hore

d ce

nter

s ar

e th

rivin

g in

this

are

a w

ith lo

w v

acan

cy r

ates

and

som

e of

the

high

est r

ents

in th

e m

arke

t. T

his

zone

is w

ell s

ituat

ed fo

r on

-go

ing

reta

il su

cces

s in

a d

ense

ly p

opul

ated

are

a in

the

cent

er

of th

e C

ity.

The

area

ben

efits

from

sig

nific

ant d

aytim

e em

ploy

men

t pop

ulat

ion

from

use

rs s

uch

as C

alifo

rnia

C

orre

ctio

nal H

ealth

care

Ser

vice

s, a

nd m

edic

al u

sers

suc

h as

Su

tter,

Kai

ser,

and

UC

Dav

is.

•Su

ppor

t new

and

exi

stin

g hi

gh p

erfo

rmin

g bu

sine

sses

that

pro

vide

des

ired

regi

onal

offe

rings

.•

Enga

ge in

act

ive

recr

uitm

ent o

f new

to m

arke

t ret

aile

rsan

d w

ork

with

land

lord

s an

d br

oker

s to

mat

ch te

nant

sw

ith id

entif

ied

gaps

in r

etai

l offe

rings

and

ser

vice

s an

dm

onito

r cur

rent

leas

es.

ZON

E3

Elk

Gro

ve B

lvd

•N

ew d

evel

opm

ent.

•M

aint

ain

succ

essf

ulex

istin

g te

nant

s.•

Fill

key

vaca

ncie

s.•

Rei

nves

t in

olde

rce

nter

s.

This

zon

e ha

s a

mix

of e

stab

lishe

d ne

wer

cen

ters

(suc

h as

El

k G

rove

Com

mon

s), o

lder

cen

ters

(El

k G

rove

Vill

age)

, and

se

vera

l lar

ge v

acan

t tra

cts

that

are

cur

rent

ly a

vaila

ble

and

prim

ed fo

r de

velo

pmen

t. A

t lea

st tw

o si

gnifi

cant

reta

il pr

ojec

ts a

re in

the

pipe

line

in th

is z

one

(a 1

50,0

00 S

F C

ostc

o an

d th

e 0,

000

SF R

idge

pro

ject

) cre

atin

g a

com

petit

ive

atm

osph

ere

for

new

con

stru

ctio

n, a

nd in

som

e ca

ses

poss

ibly

a “

wai

t and

see

” m

enta

lity

by la

ndlo

rds

and

tena

nts;

es

peci

ally

con

side

ring

som

e of

the

pote

ntia

l ten

ants

for

this

co

rrid

or a

re li

kely

bei

ng re

crui

ted

to b

e in

Zon

e 5

(the

out

let

mal

l). T

he C

ostc

o C

orpo

ratio

n pl

ans

to c

onst

ruct

a n

ew s

tore

in

this

zon

e ju

st 6

.7 m

iles

from

an

exis

ting

stor

e w

hich

sh

ould

rem

ain

open

, per

haps

the

best

indi

catio

n th

at th

is

corr

idor

is th

e ci

ty’s

top

reta

il op

port

unity

zon

e fo

r ne

w

deve

lopm

ent.

•Su

ppor

t and

faci

litat

e de

velo

pmen

t of t

he C

ostc

o an

dTh

e R

idge

pro

ject

s.•

Pur

sue

deve

lopm

ent o

f a li

fest

yle

shop

ping

cen

ter

proj

ect o

n C

ity-o

wne

d an

d pr

ivat

e la

nd a

t Elk

Gro

veB

lvd.

and

Big

Hor

n B

lvd

(i.e.

, the

com

mer

cial

ly z

oned

City

-ow

ned

prop

erty

nor

th o

f the

Civ

ic C

ente

r pr

ojec

t)an

d pr

ivat

e la

nds

on e

ither

sid

e of

the

City

-ow

ned

prop

erty

, and

eng

age

in a

ctiv

e re

crui

tmen

t of n

ew to

mar

ket h

igh-

end

lifes

tyle

reta

ilers

, ent

erta

inm

ent,

dini

ng, a

nd h

ospi

talit

y us

ers

at th

is lo

catio

n.•

Enga

ge d

evel

oper

s to

pla

n fo

r th

e de

velo

pmen

t of

rem

aini

ng u

n-pr

ogra

mm

ed re

tail

land

s.•

Supp

ort n

ew a

nd e

xist

ing

high

per

form

ing

busi

ness

esth

at p

rovi

de d

esire

d re

gion

al o

fferin

gs.

•En

gage

in a

ctiv

e re

crui

tmen

t of n

ew to

mar

ket r

etai

lers

and

wor

k w

ith la

ndlo

rds

and

brok

ers

to m

atch

tena

nts

with

iden

tifie

d ga

ps in

ret

ail o

fferin

gs a

nd s

ervi

ces.

Real

Est

ate

Anal

ysis:

Foc

us P

rope

rty

Stra

tegy

69

59

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

ZZON

ED

ESC

RIP

TIO

NO

PP

OR

TUN

ITY

STR

ENG

THS/

CH

ALL

ENG

ES

STR

ATE

GY

ZON

E4

Old

Tow

n •

Mai

ntai

n su

cces

sful

exis

ting

tena

nts

•R

einv

est i

n ol

der

build

ings

•Fi

ll ke

y va

canc

ies

with

a be

tter

tena

nt m

ix•

Attr

act u

niqu

e an

dlo

cal r

esta

uran

ts a

ndre

tail

His

toric

ally

, Old

Tow

n ha

s be

en th

e ho

me

of lo

cal s

mal

l ret

ail

and

serv

ice

prov

ider

s, a

lthou

gh s

ome

new

er, m

oder

n ce

nter

de

velo

pmen

t has

occ

urre

d .

Whi

le a

num

ber

of q

ualit

y re

taile

rs

exis

t in

Old

Tow

n, th

e di

stric

t suf

fers

from

too

man

y of

som

e ty

pes

of b

usin

esse

s (h

air

and

nail

salo

ns, f

or e

xam

ple)

, and

not

en

ough

of o

ther

s (c

loth

ing,

res

taur

ants

, or

coffe

e sh

ops)

. P

rope

rty

owne

rshi

p is

dis

para

te a

nd s

omet

imes

uns

ophi

stic

ated

, so

larg

e sc

ale

rede

velo

pmen

t or

need

ed r

einv

estm

ent i

n in

divi

dual

pro

pert

ies

is d

iffic

ult t

o ac

hiev

e. E

xist

ing

hist

oric

bu

ildin

gs a

re n

ot d

esig

ned

to h

ouse

mod

ern

reta

il us

es.

Som

e ke

y in

fill s

ites

have

rem

aine

d un

deve

lope

d fo

r ye

ars.

En

cour

agin

g na

tiona

l or

regi

onal

ret

aile

rs to

loca

te in

a

dow

ntow

n th

at is

not

fully

pro

ven

with

the

supp

ort o

f a g

ood

mix

of

loca

l bus

ines

ses

(bot

h re

tail

and

prof

essi

onal

), c

oupl

ed w

ith a

la

ck o

f cro

ss s

hopp

ing

due

to “

linea

r” r

etai

l cor

ridor

s an

d st

oref

ront

s, is

cha

lleng

ing.

•W

ork

with

the

City

to im

prov

e in

fras

truc

ture

suc

h as

park

ing,

ligh

ting,

sig

nage

to in

crea

se o

vera

ll w

alka

bilit

y of

the

area

to c

reat

e m

ore

syne

rgy.

•St

rate

gica

lly a

cqui

re (

by th

e C

ity o

r its

dev

elop

men

tpa

rtne

rs)

key

vaca

nt r

etai

l and

mix

ed-u

se p

rope

rtie

s, a

ndpu

rsue

City

-led

deve

lopm

ent p

roje

cts

at th

ese

loca

tions

that

will

act

as

a ca

taly

st a

nd a

mod

el fo

r ad

ditio

nal

priv

ate

deve

lopm

ent i

n th

e zo

ne.

•En

gage

in a

ctiv

e C

ity-le

d re

crui

tmen

t and

ince

ntiv

izat

ion

of n

ew-t

o-m

arke

t, ch

ef-d

riven

and

ele

vate

d re

stau

rant

conc

epts

to th

is z

one.

•R

epos

ition

Old

Tow

n as

a r

egio

nal a

nd lo

cal d

estin

atio

nfo

r un

ique

din

ing

and

reta

il by

attr

actin

g su

ch u

sers

toth

e zo

ne.

ZON

E5

Kam

mer

er R

d. &

G

rant

Lin

e R

d•

Com

plet

e th

e m

all

•N

ew d

evel

opm

ent

Zone

5 is

alm

ost e

ntire

ly u

ndev

elop

ed fr

om a

ret

ail p

ersp

ectiv

e w

ith th

e ex

cept

ion

of li

mite

d re

tail

on G

rant

Lin

e R

d. e

ast o

f 99,

bu

t con

tain

s la

rge

trac

ts o

f ret

ail z

oned

land

. Th

e ar

ea

surr

ound

ing

thes

e tr

acts

and

its

cons

umer

bas

e is

stil

l de

velo

ping

, and

no

deve

lopm

ent e

xist

s so

uth

of K

amm

erer

R

oad.

The

larg

est o

ppor

tuni

ty is

the

unfin

ishe

d m

all s

ite. T

his

500,

000

SF r

egio

nal m

all,

turn

ed o

utle

t mal

l pro

ject

is h

alf b

uilt

and

has

neve

r op

ened

, and

no

cons

truc

tion

has

been

obs

erve

d fo

r ne

arly

ten

year

s, r

esul

ting

in y

ears

of u

nful

fille

d pr

omis

es a

nd

com

plet

ion

timel

ines

. Th

e cu

rren

t ow

ner

has

prov

ided

no

defin

itive

tim

elin

e fo

r co

nstr

uctio

n, a

nd it

s de

velo

pmen

t rig

hts

are

set t

o su

nset

in N

ovem

ber

2018

. ne

w 6

00,0

00 S

F re

sort

and

ga

min

g fa

cilit

y is

pla

nned

for

the

35 a

cres

nor

th o

f the

mal

l site

, w

hich

may

hav

e a

posi

tive

impa

ct o

n ev

entu

al m

all c

onst

ruct

ion.

Th

is z

one

is a

djac

ent t

o th

e C

ity’s

SEP

A S

peci

al P

lan

Are

a,

whi

ch is

pla

nned

to in

clud

e ov

er 5

mill

ion

SF o

f em

ploy

men

t ge

nera

ting

uses

. A

ppro

xim

atel

y ,2

00 h

ousi

ng u

nits

are

pla

nned

ne

arby

to th

is z

one.

Add

ition

al o

ppor

tuni

ty s

ites

in Z

one

5 in

clud

e th

e un

built

500

,000

SF

mix

ed-u

se P

rom

enad

e pr

ojec

t at

Pro

men

ade

Pkw

y. a

nd L

ent R

anch

Pkw

y., a

nd t

he u

nbui

lt 13

.5

acre

Gra

ntlin

eVi

llage

pro

ject

at G

rant

Lin

e R

d. a

nd E

.Sto

ckto

n B

lvd,

as

wel

l as

smal

ler

mot

oris

t ser

ving

ret

ail a

tKam

mer

er R

d.

and

Pro

men

ade

Par

kway

.

•Su

ppor

t and

fac

ilita

te d

evel

opm

ent o

f the

C

olle

ctio

n pr

ojec

t thr

ough

wor

king

with

com

mer

cial

brok

ers

and

How

ard

Hug

hes

to a

ssis

t the

m in

effo

rts

toop

en n

ew d

oors

as

wel

l as

clos

e de

als

curr

ently

in th

eir

pipe

line.

•Ev

alua

te n

ew d

evel

opm

ent o

ppor

tuni

ties

at th

eP

rom

enad

e an

d G

rant

Lin

e Vi

llage

Site

s; e

ngag

ede

velo

pers

to p

lan

for

the

deve

lopm

ent o

f rem

aini

ng u

n-pr

ogra

mm

ed r

etai

l and

mix

ed-u

se la

nds.

•En

gage

in a

ctiv

e re

crui

tmen

t of n

ew to

mar

ket r

etai

lers

and

wor

k w

ith la

ndlo

rds

and

brok

ers

to m

atch

tena

nts

with

iden

tifie

d ga

ps in

ret

ail o

fferin

gs a

nd s

ervi

ces.

Real

Est

ate

Anal

ysis:

Foc

us P

rope

rty

Stra

tegy

70

60

Curr

ent R

etai

l Ove

rvie

wRe

al E

stat

e An

alys

is: P

rope

rty

Cata

log

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

Shop

ping

Cen

ter /

Inte

rsec

tion

Add

ress

Pro

pert

y Ty

pe

Alle

n R

anch

I SW

Q E

lk G

rove

& L

agun

a Sp

rings

Vaca

nt L

and

(Pla

nned

Pow

er)

Alle

n R

anch

II

8410

Elk

Gro

ve B

lvd.

Vaca

nt L

and

(Pla

nned

Pow

er)

Civ

ic C

ente

rSE

Q o

f Elk

Gro

ve B

lvd

& W

ymar

k D

r.Va

cant

Lan

d(P

lann

ed M

ixed

Use

)

Elk

Gro

ve C

olle

ctio

n10

465

Pro

men

ade

Pkw

y.Li

fest

yle

/ Ent

erta

inm

ent /

Out

let C

ente

r

Elk

Gro

ve C

omm

ons

9620

Bru

cevi

lle R

d.

Pow

er C

ente

r

Elk

Gro

ve M

arke

t Pla

ce

8507

Bon

d R

d P

ower

Cen

ter

Lagu

na C

ross

road

s 74

01 L

agun

a B

lvd

& 9

089

Bru

ce

Pow

er C

ente

r

Lagu

na G

atew

ay P

hase

1

9145

W S

tock

ton

Blv

d.P

ower

Cen

ter

Lagu

na G

atew

ay P

hase

II91

57 B

ig H

orn

Blv

d.P

ower

Cen

ter

Lagu

na G

atew

ay P

hase

III &

IV82

82 D

unis

chR

d.Va

cant

Lan

d(P

lann

ed P

ower

)

Mar

ket P

lace

99

9134

E S

tock

ton

Blv

d.P

ower

Cen

ter

The

Rid

ge I

SEQ

Elk

Gro

ve B

lvd

& B

ruce

ville

Vaca

nt L

and

(Pla

nned

Cos

tco

+ s

hado

w)

Bel

Air

Shop

ping

Cen

tre

8425

Elk

Gro

ve F

lorin

Rd.

Nei

ghbo

rhoo

d C

ente

r

Cap

ital R

eser

ve

8423

Elk

Gro

ve B

lvd.

Vaca

nt L

and

(Pla

nned

Mul

ti Te

nant

)

Cru

nch

Fitn

ess

Cen

ter

8635

Elk

Rid

ge W

aySt

rip C

ente

r

Elk

Gro

ve C

ente

r 88

05 E

lk G

rove

Blv

d.M

ulti-

Tena

nt P

ad

Elk

Gro

ve C

orne

rs84

60 E

lk G

rove

Blv

d.St

rip C

ente

r

Elk

Gro

ve C

ross

ing

8698

Elk

Gro

ve B

lvd.

Strip

Cen

ter

Elk

Gro

ve L

andi

ng

8351

Elk

Gro

ve B

lvd.

Strip

Cen

ter

Elk

Gro

ve V

illag

e85

47-8

591

Elk

Gro

ve B

lvd.

C

omm

unity

Cen

ter

Emer

ald

Oak

s P

laza

96

32 E

mer

ald

Oak

Dr.

Strip

Cen

ter

Har

bour

Pal

ms

2471

Elk

Gro

ve B

lvd.

Strip

Cen

ter

Lagu

na 9

9 P

laza

84

69 E

lk G

rove

Blv

d.St

rip C

ente

r(W

al-M

art S

hado

w)

Lagu

na C

reek

N

WQ

Lag

una

& B

ruce

ville

Rd.

Vaca

nt L

and

(Pla

nned

Pow

er w

ith p

ads)

Lagu

na C

reek

Tow

n C

ente

r 50

30-5

110

Lagu

na B

lvd.

Nei

ghbo

rhoo

d C

ente

r

Lagu

na G

atew

ay S

outh

82

46 L

agun

a B

lvd.

Strip

Cen

ter

Lagu

na G

reen

s Sh

oppi

ng C

ente

r50

21 L

agun

a B

lvd.

Nei

ghbo

rhoo

d C

ente

r

Lagu

na M

arke

tpla

cee

Kra

mer

Ran

ch W

ayN

eigh

borh

ood

Cen

ter

Lagu

na O

aks

8139

Elk

Gro

ve B

lvd.

Strip

Cen

ter

Lagu

na P

ark

Villa

ge

6624

Lag

una

Blv

d.St

rip C

ente

r

Lagu

na P

rom

enad

e71

19 E

lk G

rove

Blv

d.N

eigh

borh

ood

Cen

ter

Lagu

na R

eser

ve M

arke

tpla

ce10

000

Bru

cevi

lle R

d.N

eigh

borh

ood

Cen

ter

(Pla

nned

Gro

cer)

Elk

Gro

ve B

lvd

Land

2730

Elk

Gro

ve B

lvd.

Vaca

nt L

and

Pro

men

ade

1046

5 P

rom

enda

deP

kwy.

Vaca

nt L

and

(Pla

nned

Ret

ail)

Ral

ey's

Cen

ter

4900

Elk

Gro

ve B

lvd

Gro

cery

Anc

hore

d

Rid

ge (T

own

Cen

ter a

nd M

arke

tpla

ce)

SWQ

of E

lk G

rove

Blv

d &

Wym

ark

Dr.

Vaca

nt L

and

(Pla

nned

Med

ical

)

Shel

don

Cro

ssin

g N

WQ

She

ldon

Rd

& E

Sto

ckto

n B

lvd.

Vaca

nt L

and

(Pla

nned

Com

mun

ity C

ente

r)

Smar

t & F

inal

Cen

ter

8777

Elk

Gro

ve B

lvd.

Nei

ghbo

rhoo

d C

ente

r

Ston

e La

ke L

andi

ng

9650

W T

aron

Dr.

Strip

Cen

ter

Wal

-Mar

t Pad

s10

075

Bru

cevi

lle R

d.N

eigh

borh

ood

Cen

ter

(Wal

-Mar

t Sha

dow

)

Ret

ail

Stra

tegi

esha

sca

talo

ged

man

ydi

ffere

ntre

tail

real

esta

teop

port

uniti

esw

ithin

the

city

limits

ofEl

kG

rove

.Ea

chop

port

unity

has

been

map

ped

asw

ell

asca

tego

rized

for

quic

kre

fere

nce

with

othe

rke

yin

form

atio

n(i.

e.co

tena

ncy,

avai

labl

esp

ace,

aski

ngra

tes,

etc.

).B

uild

ing

rela

tions

hips

with

the

land

owne

rs,

prop

erty

man

ager

s,an

dco

mm

erci

albr

oker

sw

illal

low

this

list

tobe

cons

tant

lyup

date

dto

ensu

reth

em

ost

accu

rate

and

rele

vant

info

rmat

ion

isav

aila

ble

for

reta

ilers

and

deve

lope

rsth

atar

elo

okin

gfo

rop

port

uniti

esin

Elk

Gro

ve.

71

61P

repa

red

for

Elk

Gro

ve_C

A b

y R

etai

l Str

ateg

ies

Conn

ect –

Exam

ple

of C

atal

ytic

Deve

lopm

ent i

n Pe

er M

arke

tO

xnar

d, C

A –

The

Colle

ctio

n at

Riv

erpa

rk

+/-

62.9

6 A

cs

Eat,

Shop

, Pla

y

72

62P

repa

red

for

Elk

Gro

ve_C

A b

y R

etai

l Str

ateg

ies

Conn

ect –

Exam

ple

of C

atal

ytic

Deve

lopm

ent i

n Pe

er M

arke

tRo

sevi

lle, C

A –

Foun

tain

s at R

osev

ille

+/-

28.4

4 A

cs

73

63P

repa

red

for

Elk

Gro

ve_C

A b

y R

etai

l Str

ateg

ies

Conn

ect –

Exam

ple

of C

atal

ytic

Deve

lopm

ent i

n Pe

er M

arke

tCl

ovis

(Fre

sno)

, CA

–Th

e Sh

ops a

t Riv

er P

ark

+/-

40.6

4 A

cs

74

Out

reac

hR

etai

l Rec

ruitm

ent

75

65

Reta

il Re

crui

tmen

t: O

utre

ach

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

9,70

3re

taile

rs’ c

onta

ct

info

rmat

ion

& s

ite

sele

ctio

n cr

iteria

Ret

ail i

s a

dyna

mic

indu

stry

tha

t is

co

nsta

ntly

cha

ngin

g…

Ret

ail d

ecis

ion

mak

ers

may

be

in-h

ouse

cor

pora

te re

al e

stat

e st

aff,

loca

l, re

gion

al, o

r na

tiona

l ten

ant r

epre

sent

ativ

e br

oker

s, p

refe

rred

de

velo

pers

, con

sulta

nts,

etc

. Ret

ail S

trat

egie

s m

aint

ains

a d

atab

ase

of

near

ly 1

0,00

0 un

ique

indu

stry

con

tact

s th

at a

re b

eing

con

stan

tly

upda

ted

as th

ese

play

ers

chan

ge a

nd o

rgan

izat

ions

evo

lve.

As

a re

sult,

yo

ur r

etai

l rec

ruitm

ent t

eam

can

eas

ily id

entif

y th

e ap

prop

riate

dec

isio

n m

aker

s an

d pr

esen

t site

s in

Elk

Gro

ve q

uick

ly in

ord

er to

det

erm

ine

leve

l of i

nter

est a

nd b

egin

wor

k to

add

ress

any

pot

entia

l bar

riers

to

mar

ket e

ntry

.

Ret

ail S

trat

egie

s da

taba

se n

ot o

nly

cont

ains

WH

O m

akes

the

reta

il de

velo

pmen

t dec

isio

ns fo

r El

k G

rove

but

als

o W

HA

T ea

ch re

taile

r re

quire

s fr

om a

mar

ket (

i.e.

dem

ogra

phic

s, p

sych

ogra

phic

s, tr

ade

area

pa

ram

eter

s) a

nd r

eal e

stat

e pe

rspe

ctiv

e (

i.e. s

ize,

co-

tena

ncy,

acc

ess,

vi

sibi

lity)

. Eac

h in

divi

dual

ret

aile

r has

thei

r ow

n un

ique

nee

ds a

nd s

et o

f re

quire

men

ts th

at m

ust b

e m

et b

efor

e pr

esen

ting

a ne

w s

tore

loca

tion

to th

eir r

eal e

stat

e co

mm

ittee

(REC

). B

y ha

ving

this

info

rmat

ion

avai

labl

e w

e ar

e ab

le to

pre

pare

cus

tom

site

spe

cific

pac

kage

s of

in

form

atio

n to

illu

stra

te h

ow E

lk G

rove

has

the

trad

e ar

ea a

nd r

eal

esta

te to

sup

port

a s

ucce

ssfu

l loc

atio

n.

76

66

Reta

il Re

crui

tmen

t: M

arke

ting

Guid

e

Pre

pare

d fo

r El

k G

rove

_CA

by

Ret

ail S

trat

egie

s

77

67

Reta

il Re

crui

tmen

t: Co

nfer

ence

Rep

rese

ntat

ion W

ho W

e C

onne

ct W

ith

On

Your

Beh

alf

Reta

il re

crui

tmen

t is

a c

ompl

exbu

sine

ssan

d in

volv

es m

ulti

ple

part

ies.

To e

nsur

e w

e ar

e cr

eati

ngth

ebe

sten

viro

nmen

t fo

r de

als

toha

ppen

urte

amw

ill b

e co

ntac

ting

tho

sepa

rtie

s ne

cess

ary

toge

t de

als

done

:Lo

calp

rope

rty

owne

rsBr

oker

s

Deve

lope

rs

Inve

stor

s

Dire

ctor

s of

rea

l est

ate

Fran

chis

ees

Loca

l bus

ines

sow

ners

Man

y ot

her

deci

sion

mak

ers

The

Inte

rnat

iona

l Cou

ncil

of

Shop

ping

Cen

ters

(IC

SC)

and

Reta

il Li

ve a

re t

he le

adin

g gl

obal

tra

de

asso

ciat

ions

for

the

ret

ail i

ndus

try.

IC

SC a

nd R

etai

l Liv

e he

lp t

he p

ublic

an

d pr

ivat

e se

ctor

s un

ders

tand

the

in

dust

ry t

hrou

gh e

duca

tion

al

prog

ram

s, p

ublic

atio

ns,

cert

ific

atio

n pr

ogra

ms,

and

(m

ost

popu

lar)

Dea

l M

akin

g Co

nven

tion

s. E

ach

year

the

se

two

orga

niza

tion

s pu

t on

ove

r tw

enty

co

nfer

ence

s fo

r re

al e

stat

e pr

ofes

sion

als

to c

onne

ct t

o di

scus

s de

als.

Elk

Gro

ve w

ill b

e in

vite

d to

all

netw

orki

ng e

vent

s an

d w

ill h

ave

acce

ss t

o a

tabl

e at

our

boo

th.

Bui

ldin

g re

latio

nshi

ps lo

cally

, re

gion

ally

, N

ATIO

NA

LLY

on

beha

lf of

Elk

Gro

ve

Nas

hvill

eA

ustin

Chi

cago

New

Orle

ans

Was

hing

ton

DC

Cha

rlotte

Las

Vega

sA

tlant

aD

alla

sN

ew Y

ork

City

Los

Ang

eles

O

rland

o

2017

Con

fere

nces

78

Con

tact

dev

elop

ers,

re

taile

rs, t

enan

t re

pres

enta

tives

and

fr

anch

isee

gro

ups

bot

h re

gion

ally

and

nat

iona

lly

Mak

e di

rect

and

indi

rect

co

nnec

tions

thr

ough

co

nfer

ence

re

pres

enta

tion,

in p

erso

n m

eetin

gs, p

hone

cal

ls a

nd

emai

ls

Coo

rdin

ate

and

com

mun

icat

e ou

r ef

fort

s w

ith lo

cal b

roke

rs,

prop

erty

ow

ners

, and

city

st

aff

on a

n on

goi

ng b

asis

Follo

w in

dust

ry tr

ends

as

wel

l as

chan

ges

in y

our

loca

l mar

ket

to

cont

inuo

usly

adj

ust o

ur

stra

tegy

and

im

prov

e ou

r ef

fort

s to

max

imiz

e th

e re

tail

pote

ntia

l in

your

co

mm

unity

Dis

cove

rC

onne

ctIm

plem

ent

Focu

s

Reta

il Re

crui

tmen

t: An

Ong

oing

Pro

cess

79

120

18th

Str

eet S

outh

, Sui

te 1

20, B

irmin

gham

, AL

3523

3

205.

314.

0386

reta

ilstr

ateg

ies.

com

Than

k yo

u!

80

CITY OF ELK GROVE CITY COUNCIL STAFF REPORT · Grove in order to improve resident quality of life,...

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Transcript of CITY OF ELK GROVE CITY COUNCIL STAFF REPORT · Grove in order to improve resident quality of life,...