This assignment involves writing a market Research Memo. Instructions You are a real estate analyst employed by a local real estate developer. This developer is considering the purchase and redevelopment of a site for a small retail center that will likely have a coffee shop, nail salon, and at least one health-related tenant and apartments above.

Market Research Memo.

Paper instructions: Instructions You are a real estate analyst employed by a local real estate developer. This developer is considering the purchase and redevelopment of a site for a small retail center that will likely have a coffee shop, nail salon, and at least one health-related tenant and apartments above. Several different areas have been changing, and your employer thinks it may be a good time to invest in one of them. Your assignment is to gather the data in order to make this investment decision.

Market Research Memo.

The market research assignment is a written analysis that also includes uploading your research files to the submission folder. You will use Site to Do Business to conduct market research on two sites and share your insights in your memo. Detailed instructions are below and you may want to print this. Assignment: You will research two sites. Enter both sites into STDB; compare and contrast them in a written memo to your investment committee regarding your recommendation for investment. Upload your STDB reports to the Submission folder along with your memo.

Market Research Memo.

1. LOCATIONS. Two potential sites have been suggested and you have been asked to gather information for both and prepare a memo that compares and contrast both sites for potential acquisition and development. Site 1: you already chose a site for your group discussion, so you will use that again for this assignment. If you want to choose another location, please contact your instructor to discuss prior to submitting this assignment. Site 2: you have learned of a land parcel in Albany Park, a neighborhood on the North side of Chicago.

Market Research Memo.

The parcel is located at the northwest corner of Lawrence and Kimball and is currently developed as a bank property. This property is zoned B-3 for “community shopping district” and it also allows for residential dwelling units at or above the ground floor. You can use 3400 West Lawrence as the address. NOTE: Students are allowed to work in pairs. If you choose to do this, then you will NOT use Site 2 above. Instead, you will use the two locations you both chose for your group discussion.

Market Research Memo.

2. GEOGRAPHIC BOUNDARIES. Normally after selecting an address, a researcher will then select a geographic boundary which could be concentric rings, drive times, walk times, or even creating specific boundary manually. For this assignment, you should use the 1-mile radius for both sites. 3. REPORTS. You should make PDF copies of any STDB report you used so that you can upload them to the submission folder. There are many reports to choose from, but make sure you run at least these: Site Map: this is self-explanatory, a map of both areas.

Market Research Memo.

Community Profile: this contains most of the basic demographic data you will be looking for. Take a look at the sample report for 900 N Franklin and look for the highlighted sections to see what to focus on and how to populate the data table. Feel free to add more data points than what is required in the attached data table. Retail Demand Outlook: this shows a forecast of the dollar spending by retail category. It also contains a list of the top 5 tapestry segments. How does spending compare at the two sites? Which one is higher and/or has a higher forecast?

Market Research Memo.

Retail Market Potential: this contains a list of retail products and behaviors with estimates of the likelihood that households will spend more or less than the national average. Does one of your sites have higher MPI for various categories, such as shopped at a convenience store, bought brewed coffee, or exercised at a club? Tapestry Segmentation Reports: this will provide you with a list of the dominant segments in your area and their respective percentage of the population. Each segment name is actually a hyperlink to a 3-page report that summarizes the characteristics of that segment.

Market Research Memo.

You should save a copy of the top 3 tapestry segment reports to upload. Take a look at the report I posted for the Metro Renters segment as an example. I have highlighted some of the sections that you can use for your description in your memo. 4. WRITTEN MEMO. You are to write a business memo outlining your market research findings on both sites and making a recommendation to acquire one of them. This memo should include a data comparison table (see below for details). Your memo should be roughly 3 pages, including the data table.  https://youtu.be/apm0wH9HU0Y

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