Market Feasibility Study for Redevelopment of Retail Center

Sale and Redevelopment of former School (Groton, CT)
January 26, 2021
ConnectiCare, Inc. Tenant Representation
March 2, 2021
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Market Feasibility Study: Redevelopment of Retail Center

Market Feasibility Study for Redevelopment of Retail Center

THE CHALLENGE

Assessed the market feasibility of redeveloping a portion of a retail shopping center. Alternative uses were tested against market realities and our pro forma assumptions. The approximately 3.5-acre parcel was considered on its own, as well as a function of a larger redevelopment and increased density of the whole Marketplace.

OUR SOLUTION

  • Programmed four (4) redevelopment options, ranging in density and variety of land uses – retail, hospitality, entertainment, residential and office.
  • Conducted several meetings with town land use and planning department staff to establish appetite for redevelopment and potential offering of incentives.
  • Provided an in-depth socioeconomic and demographic analysis of subject site and its relationship to larger Denver Metropolitan Area, including housing market, employment nodes, transportation systems, local and state taxes, construction costs, evaluation of development pro forma financial estimates, rental housing demand characteristics, and nearby competitive housing developments.