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Market Feasibility
CERC can perform the following tasks in order to determine the market feasibility of a particular location. The results of an industry analysis can also be utilized to determine which types of uses may be well-suited for the location.
- The defined market area is based upon metrics such as drive times, route options and commuting patterns to and from the subject property as well as demographic trends.
- The regional economic forces which may drive demand for the subject property are analyzed. This can include the following:
- Effects of the current economic recession
- Profile of the labor force
- Population trends including age, race and ethnicity
- Household incomes
- The supply of competitive properties are analyzed to determine if there is enough current supply in the area.
- For retail uses it is important to quantify how much of total retail demand is met locally. Certain gaps in the market place that may be filled by niche retail markets will be identified. We can estimate which retail industries are under- and over-served in the area by utilizing analyses from private vendors.
- Prepare a qualitative analysis which evaluates the category of business with its potential impact upon traffic, wetlands and other significant natural resources.
The result is a recommendation of the best land use for a particular location.
A selection of projects include:
- Feasibility of Baltic Mill site in Sprague
- Feasibility of Routh 66 site in East Hampton
- Town of Branford
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