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Retail Mixed Use Market Study Update 1 January 6, 2010
<br /> Primary Trade Area Buying Power
<br /> The retail demand generated by the Primary Trade Area is summarized in Table 7. Spending by
<br /> business park residents is ramoved to avoid double counting - in this analysis, the Primary Trade
<br /> Area forms a "donut" around Hacienda. Residents of the Primary Trade Area support an
<br /> additional 73.000 sonare feet of retail and restaurants in Hacienda.
<br /> Table 7: Primary Trade Area Residential Demands, 2009 (excluding Hacienda Residents)
<br /> Primary Trade
<br /> Avg. Per Trade Area Area Retail
<br /> Retail Category Capita Capture Rate Expenditures Supportable
<br /> Expenditures (2009) Square feet
<br /> (2009)
<br /> Food Away from Home $995 20% $3,588,032 8,880
<br /> Breakfast + Lunch $440
<br /> Dinner _ $555 _
<br /> Food at Home (Grocery) $2,568 25% $11,572,560 23,145
<br /> Medical Total _ $800 30% $4,327,260 _ 8,655
<br /> Various Merchandise
<br /> Total $4,773 15% $12,917,151 32,293
<br /> Total $9,136 NA $32,405,003 72,973
<br /> Source: LEHD; Bureau of Labor Statistics; Claritas Inc.; 'Dollars and Cents of Shopping Centers, 2002'; MBIA
<br /> MuniServices; Strategic Economics, 2009
<br /> Residential Buying Power Summary
<br /> Table 8 below summarize; the total retail residential demand generated in and around Hacienda.
<br /> Currently, residents of Hacienda and the Primary Trade Area could support 121,000 square feet
<br /> of retail and restaurant space in Hacienda. Residential growth assumed in Future Scenario 1
<br /> would generate an additional 20,000 square feet of retail space, compared to 34,000 square feet of
<br /> additional demand in Future Scenario 2.
<br /> Table 8: Residential Buying Power Summary (Hacienda + Primary Trade Area)
<br /> Supportable Square Feet of Retail Space
<br /> Business Trade Total 2009 Additional Additional
<br /> Retail Category Park Area (Park & Demand Future Demand Future
<br /> Residents Residents Trade Area Scenario 1 Scenario 2
<br /> 2009 2009 Residents) (Business Park (Business Park
<br /> Only) only)
<br /> Food Away from Home 5,188 8,880 14,068 2,211 3,686
<br /> Food at Home (Grocery) 15,756 23,145 38,901 6,716 11,194
<br /> Medical Total 6,442 8,655 15,097 2,746 4,577
<br /> Various Merchandise 20,495 32,293 52,788 8,736 14,560
<br /> Total 47,881 72,973 120,854 20,410 34,017
<br /> Source: Hacienda Business Park Business Owners Association; LEHD; Bureau of Labor Statistics; Claritas Inc.;
<br /> 'Dollars and Cents of Shopping Centers, 2002'; MBIA
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