Client: MainStreet Hobbs, Inc.
MainStreet Hobbs, Inc. retained Gruen Gruen + Associates (“GG+A”) to complete market and real estate economic analysis to provide MainStreet Hobbs with the information needed to make realistic and beneficial decisions about the future of downtown Hobbs (NM). GG+A staff inspected the downtown and conducted interactive in-person and telephone interview with a sample of merchants, downtown property owners, public officials and staff and Chamber of Commerce representatives. To analyze patterns of economic change in downtown Hobbs, GG+A compiled into a computer database from reverse telephone directories from the 1980’s to 2003, an inventory of downtown uses for 1982, 1992, 1998, and 2003. Based on the identification of patterns of economic change, and our inspections and interviews, we then identified locational strengths and weaknesses of the downtown, and locations of competing supply. We also identified potential market niches, such as home-improvement retail, training and educational niche, and a mercado/farmer’s market-type marketplace. The report concluded with a priority set of strategy action recommendations designed to remove the constraints on the evolution of the downtown to exploit the market niches identified.