Retail Feasibility Analysis
WelCor works with developers, landowners, and financial institutions to determine what is the best retail tenant fit for the project. WelCor performs a GAP and VOID Analysis, augmented by retailer surveys to establish if there is sufficient demand for a site and if there is a specific retailer to meet that demand.
WelCor’s model is different because it is tenant centric in nature. The problem with most feasibility studies done by planners, developers and demographic analysis companies is they model for generic retail demand. However, 70% of retail development is ‘built to suit’ for a specific tenant. The remaining 30% of retail development typically requires a specific anchor tenant. Any demand GAP must not only be deep enough to support a new store, but deep enough to be a better alternative than all the other choices a specific retailer may have across its store network. WelCor’s method is to identify the specific retailers active in a market, to analyze whether the site fits into a retailers network, and to review preferred demographic requirements.
A few of the clients WelCor has performed feasibility studies for include:
•PIMCO •Newland Communities •SABAL Financial Group, L.P. •North Carolina Department of Justice on behalf of North Carolina Department of Transportation
Jim Broemer has prepared numerous studies and testified as a Professional Witness for the North Carolina Department of Justice on behalf of North Carolina Department of Transportation in North Carolina Department of Transportation condemnation cases.