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<br />Tablei
<br />RUM RlVER COMMERCIAL AREA
<br />ESTIMATED RETIAL AND SERVICE POTENTIAL; 2020
<br />(Square Feet)
<br />
<br />Category
<br />Retail Stores
<br />Convenience Goods
<br />Food Services
<br />Convenience/Gasoline
<br />Shopping Goods
<br />Auto Parts Stores
<br />Total RetaU
<br />
<br />Services
<br />Automotive Service
<br />Personal Services
<br />Other Services
<br />Physical Fitness
<br />Professional Services
<br />Financial Services
<br />Insurance
<br />Health Care
<br />Daycare
<br />Total Services
<br />Total Potential
<br />Likely Development :potential
<br />
<br />Source: McComb Group, Ltd.
<br />
<br />2005
<br />
<br />37,900
<br />12,700
<br />4,000
<br />9.500
<br />6,500
<br />70,600
<br />
<br />3,600
<br />6,000
<br />5,000
<br />6,000
<br />5,000
<br />3,000
<br />10,700
<br />6,000
<br />45,300
<br />115,900
<br />80,000
<br />
<br />Gross Leasabre Area
<br />2010 2015
<br />
<br />51,100
<br />17,500
<br />8,000
<br />16,350
<br />6,500
<br />99,450
<br />
<br />5,000
<br />10,700
<br />15,000
<br />10,700
<br />5,000
<br />4,000
<br />13,600
<br />6,000
<br />70,000
<br />169,450
<br />120,000
<br />
<br />62,100
<br />24,500
<br />8,000
<br />29,500
<br />6,500
<br />130,600
<br />
<br />7,800
<br />13,700
<br />15,000
<br />11,500
<br />10,000
<br />6,000
<br />20,000
<br />6,000
<br />90,000
<br />220,600
<br />155,000
<br />
<br />2020
<br />
<br />67,100
<br />30,500
<br />8,000
<br />36,000
<br />6,500
<br />148,100
<br />
<br />1,500
<br />10,100
<br />18,200
<br />15,000
<br />16,000
<br />10,000
<br />6,000
<br />30,000
<br />6,000
<br />112,800
<br />260,900
<br />180,000
<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 reasons for tlris 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 />
<br />.. These households have higher incomes than older residents and live in new homes.
<br />
<br />.. Declining sales trends at th6 same time that population and households increase indicates
<br />that Rum River merchants are not achieving good penetration rates among new residents.
<br />
<br />Vlll
<br />
<br />21
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