Essay about Commercial Market Study

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Page 1

State Street Corridor
Madison, Wisconsin

Commercial
Market Study

Prepared for:

JJR/Inc.
1 N. Pinckney Street
Madison, Wisconsin

Prepared by:

GIBBS PLANNING GROUP, INC.
240 Martin Street
Birmingham, Michigan

22 April 1999

Page 2

Table of Contents
State Street Corridor
Madison, Wisconsin

Introduction
Executive Summary..........................................................................................................1

Market Characteristics
Retail Trade Areas ...........................................................................................................3
Primary Trade Area .........................................................................................................4
Secondary Trade Area ....................................................................................................4
Demographic Characteristics ........................................................................................5
Business/Daytime Employment .....................................................................................7
Student and Visitor Segments........................................................................................8
Consumer Research ........................................................................................................9

Site Characteristics
Location ........................................................................................................................... 11
Pedestrian/Transit Mall................................................................................................. 12
Parking and Transit System......................................................................................... 12
Overture Project........................................................................................................... 13
Competitive Retail Concentrations .......................................................................... 13
National Trends in Retailing........................................................................................ 13
Character Zones ........................................................................................................... 14

Economic Development Recommendations
Enhanced Shopping District ........................................................................................ 16
Limited Expansion Shopping District ........................................................................ 17
Major Expansion Shopping District ........................................................................... 19
Rationale .......................................................................................................................... 20

Implementation Strategy
Leasing and Management Strategies .......................................................................... 21
Phasing.............................................................................................................................. 22

Action Items ................................................................................................................... 22
Short Term (3-4 months) ..................................................................................... 22
Mid-Range (6-9 months) ....................................................................................... 22
Long-Range (12+ months) .................................................................................... 23

Conclusions........................................................................................................................ 23

Page 3

Appendices
Appendix A – Population, Household, and Income Table ................................... 25
Appendix B – Primary Trade Area Demographic Summary ............................... 26
Appendix C – Secondary
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