Throughout our many years in retail real estate research, we’ve heard businesses of all types simplify the assessment of their business’s trade area. So often, we hear economic developers and retailers describe their trade area as a certain-mile radius around a site, but in reality, there are many different ways to delineate a trade area.
Topics: Retail Data Analysis, Retail Trade Area, Real Estate Analytics Tool, Analyzing Retail Sites
In early 2019, SiteSeer made major updates to our flagship software, SiteSeer Professional, including the installation of the latest version of Freeway, a third-party plugin by partner Applied Spatial Technology. Freeway provides the calculations behind the drive-time trade area boundaries you see in SiteSeer.
Topics: Retail Trade Area, Site Selection Software, Analyzing Retail Sites
If you’re a shopping center owner or a marketer for a shopping center, one of the most important investments of your time is to understand what your shoppers and area consumers think about your center.
Topics: Retail Trade Area, Recruiting Shopping Center Tenants, Void Analysis, Retail Industry
If your town is large enough to have an economic development council, that council is probably tasked with analyzing your market in order to attract businesses and retailers to the community. To do this effectively, one of the very first steps you should take is to define your town’s trade area.
Topics: Smart Retail Growth, Retail Trade Area, Retail Industry, Market Potential
When you’re opening a new business or expanding an existing one, there are a lot of decisions to make, but perhaps none is more important than choosing the right location. A bad location could mean the difference between success and failure and a mediocre location could mean you’re leaving thousands—or even millions—of dollars on the table every week.
Topics: Retail Data Analysis, Retail Trade Area, Retail Industry, Franchise & Services Industry, Retail Site Selection
As a developer, property owner, or commercial real estate broker, your goal is to have the lowest vacancy rates in your shopping centers as possible. Sometimes that’s easy, other times not so much. But in the ever-changing retail market, what about when a shopping center loses an anchor tenant that was the main attraction for the entire shopping center? What is the best way to attract a replacement tenant that will prevent smaller retailers in the center from experiencing a significant decline in business or choose to leave?
Topics: Retail Trade Area, Recruiting Shopping Center Tenants, Void Analysis, Demographic Data, Landlord Rep Brokers & Owners Industry, Tenant Rep Brokers & Developers Industry
Retail site selection done right is all about using data to your advantage. If you’ve been largely successful in leasing vacant space, it probably means you have a good process in place to determine what retail and service gaps are missing in a trade area and fill those demands in your shopping center.
Topics: Retail Data Analysis, Retail Trade Area, Void Analysis, Landlord Rep Brokers & Owners Industry, Tenant Rep Brokers & Developers Industry, Market Potential
