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A Strategic Assessment of Deerbrook Mall
Client: VMC
dashed line separator VMC, the management and leasing agent for Deerbrook Mall, engaged Gruen Gruen + Associates (GG+A) to conduct a strategic assessment of the Mall. This assessment included a realistic analysis of the trade area market and investment analysis to identify and evaluate strategies to help solidify the Mall's long-run market position. To complete the strategic assessment, GG+A performed the following tasks:
  1. Designed, conducted, and analyzed a survey of over 200 Deerbrook Mall shoppers. The purpose of the survey was to establish base data that could be used by shopping center management to make and implement decisions concerning maintaining and enhancing the Mall's position in the market place and to obtain a snap-shot of the attitudes, preferences, and characteristics of the demanders from the market area identified to be served by the Mall;
     
  2. Analyzed the past, present, and likely future population, income, ethnic and age characteristics of the households who make up the identified primary trade area;
     
  3. Based on the demographic analysis and analysis of expenditure potential, estimated present and likely future demand in terms of potential available dollars and supportable space given research-based assumptions about required averages sales per square foot;
     
  4. Identified and assessed the present and anticipated future competition within the trade area;
     
  5. Analyzed the relationship between the estimated present and likely future demand and supply within the trade area;
     
  6. Evaluated the productivity and performance of existing Deerbrook Mall tenants;
     
  7. Prepared a financial model of the Mall, including a base case forecast of net operating income, assuming a continuation of present tenanting, management and rehabilitation policies;
     
  8. Synthesized the above tasks to postulate marketing, tenanting, physical and other enhancement options that would improve performance of the Mall (this included a detailed kiosk program);
     
  9. Prepared a forecast of net operating income and increase in value likely to result from the adoption of the recommended strategic enhancement options and forecast the investment worth and return on investment of the alternatives; and
     
  10. Identified a strategic action plan, including potential exit strategies, directed toward improving the earnings stream and value of the property in light of changes in the retailing and retail development industries and local and regional economy.




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