21 ATTACHMENT 12 - Laserfiche WebLink

ATTACHMENT 12 _.Y s Pacific f= ~ el fE ~~onsuiting 125 Bridge Creek Drive, San Ramon, California 94583 P.O. Box 10661, Pleasanton, California 94588 Telephone: (925) 833.0248 Facsimile: (925) 556-9740 October 2, 2007 Ms. Emily Wagner Economic Development Fiscal Officer CITY OF PLEASANTON 123 Main Street Pleasanton, California 94566 Re: Proposed Yard Birds SEC Stanley Boulevard/Valley Avenue Pleasanton, California (PRC #37-OlA) Dear Ms. Wagner: As requested, we have completed our site evaluation and potential sales analysis for a proposed Yard Birds. Specifically we have provided first (2009) and fourth year (2011) full year sales projections for a prototypical 40,000 square foot Yard Birds to be located in the southern portion of Pleasanton (the "Proposed Store"). It should be noted that Yardbirds is a subsidiary of Home Depot. Sales Forecast Trade Area Beyond Total Year Sales Sales Annual Sales 2009 $13,310,500 $1,750,000 $15,060,500 2011 $16,151,200 $2,213,500 $18,274,700 In terms of an in-fill opportunity for The Home Depot, it is our opinion that the proposed site represents a good deployment opportunity for The Home Depot to strengthen its market share in this portion of Alameda County. Despite the presence of several home improvement competitors, including Lowe's in Dublin (currently under construction), the Proposed Store will serve the southern portions of Pleasanton that are currently not convenient to conventional home improvement retailers. In addition, the Proposed Store will serve the household densities in the western and southern portions of Livermore, which for the most part are not intercepted by any home improvement competition. The Proposed Store will generate its strongest market shares in the neighborhoods adjacent to the site and in the eastern portion of Pleasanton. To the east, the Proposed Store will be convenient to the households of southwest Livermore where they have direct access on Stanley Boulevard. Projected sales are the lowest in the northern portions of the trade area where the presence of competition, including the existing Pleasanton Home Depot and the under construction Dublin Lowe's, is stronger. We have estimated that 12% of the Proposed Store's total sales will originate from areas outside the defined trade area. The site's location away from Interstates 680 and 580 will limit the ability of the