Site Selection

OPTIMIZING LOCATION

Finding that "ultimate" site is the goal of every real estate executive. In the complex retail landscape, being able to discern a mediocre or poor location from a "ultimate" site is not often easy. Optimal location is dependent upon a multitude of site, demographic, and competitive factors. TMM applies its extensive site location experience to find those locations that optimize performance. From evaluating existing sites to identifying new sites, we provide an in-depth analysis of all factors associated with a prospective location.

TRADE AREA DEFINITION

Of critical importance to shopping center developers, owners, managers, and retailers overall is the trade area. A trade area is the geography from which approximately 60% to 80% of your customers' sales originate. There are a variety of ways to define trade areas, and they differ for proposed versus existing centers or store locations.

The best proposed trade area takes into account factors such as population density, competitive locations, demographic, housing and lifestyle characteristics, physical and psychological barriers and access patterns. For proposed developments or redevelopment situations, this requires skilled judgment and experience.

For existing centers, trade areas can be determined with precision by obtaining point of sale (POS) data from credit card purchases. If POS data is unavailable, intercept surveys are a good way to determine shopping habits, demographics, and customer penetration.