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Table i
<br />
<br /> RUM RIVER COMMERCIAL AREA
<br />ESTIMATED RETIAL AND SERVICE POTENTIAL; 2020
<br />(Square Feet)
<br />
<br /> Category
<br />Retail Stores
<br />Convenience Goods' 37,900
<br />Food Services 12,700
<br />Convenience/Gasoline 4,000
<br />Shopping Goods 9,500
<br />Auto Parts Stores 6,500
<br />Total Retail 70,600
<br />
<br />Services
<br />Automotive Service -
<br />Personal Services 3,600
<br />Other Services 6,000
<br />Physical Fitness 5,000
<br />Professional Services 6,000
<br />Financial Services 5,000
<br />Insurance 3,000
<br />Health Care 10,700
<br />Daycare 6,000
<br />Total Services 45,300
<br />
<br />Total Potential 115,900
<br />Likely Development Potential 80,000
<br />Source: McComb Group, Ltd.
<br />
<br />Gross Leasable Area
<br />
<br />2005 2010 2015 2020
<br />
<br />51,100 62,100
<br />17,500 24,500
<br />8,000 8,000
<br />16,350 29,500
<br />6,500 6,500
<br />
<br />67,100
<br />30,500
<br />8,000
<br />36,000
<br />6,500
<br />
<br />99,450 130,600 148,100
<br />
<br />5,000 7,800
<br />10,700 13,700
<br />15,000 15,000
<br />10,700 11,500
<br />5,000 10,000
<br />4,000 6,000
<br />13,600 20,000
<br />6,000 6,000
<br />
<br /> 1,500
<br /> 10 100
<br /> 18 200
<br /> 15 000
<br /> 16 000
<br /> 000
<br /> 000
<br /> 000
<br /> 000
<br /> 70,000 90,000 112 800
<br />
<br />169,450 220,600 260,900
<br />120~000 155,000 180,000
<br />
<br />10
<br /> 6
<br />3O
<br /> 6
<br />
<br />Findings
<br />
<br />Market research indicates that there is an excellent future for the Rum River Commercial Area.
<br />There is, however, a disturbing trend that must be corrected. Businesses in the area reported
<br />either flat or declining sales trends. Businessmen in the area agree that they are not doing as
<br />much businesses as they expect. There are several r~asons for this and include the following:
<br />
<br />The existing buildings and their appearance is dated and does not covey freshness in
<br />merchandise offerings or retail strategies.
<br />
<br />Three-quarters of trade area households have arrived since 1999, just 13 years ago.
<br />These households have higher incomes than older residents and live in new homes.
<br />
<br />Declining sales trends at the same time that population and households increase indicates
<br />that Rum River merchants are not achieving good penetration rates among new residents.
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<br />Vlll
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