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TAIL ANALYSIS <br />The primary purpose of the study is to determine whether there is sufficient potential market <br />support for retail commercial development on the site, based on projected market demand. The <br />analysis will also include a detailed description and analysis of the defined trade area population <br />base and the competitive strengths of the subject property relative to other retail sites (both <br />existing and proposed). <br />Market Profiles will analyze market activity within trade area boundaries that will be <br />determined based on existing and anticipated development patterns in the defined Competitive <br />Market Area (CMA), taking into account the locations of competitive commercial development <br />as well as concentrations of population, traffic patterns, and natural or manmade barriers. <br />Specifically, the study will: <br />A. Determine the depth of demand for retail commercial space at the subject site, including <br />potential demand for space by merchandise category. <br />B. Identify and analyze all major existing and proposed retail developments in the defined <br />CMA. <br />C. Evaluate current and projected competitive conditions, identifying the strongest retail <br />commercial product concepts and possible voids in the market area. <br />D. Review locational and other physical factors that may influence the rate of absorption at <br />the site. <br />E. Recommend retail center parameters, including likely tenant mix. <br />F. Forecast the likely market capture and absorption rate for the proposed project. <br />SCOPE OF SERVICES <br />In assessing the potential for retail development at the subject property, Market Profiles will <br />perform the following analysis: <br />A. An economic background analysis including a review and forecast of retail <br />expenditures per capita based upon the following factors: <br />B. Employment trends <br />C. Housing growth patterns <br />D. Population growth <br />E. Household income distribution <br />F. Historical and projected retail expenditures by merchandise category <br />A-16 <br />