Research Reveals an Opportunity
 Community officials in a Minneapolis suburb drafted the development plan for an unused parcel of land in a prime growth area along two major thoroughfares. |
Challenge
The plan illustrated a vision of a new city center–an upscale project anchored by a gourmet grocer. Unfortunately, when the community began to seek investors and target-category retailers, they couldn’t generate interest from either group.
Strategy
The United Properties team conducted primary research to determine accurate census data and forecast the type and amount of future demand in the area. Analyzing data on growth patterns, school enrollment, postal stops, building permits, volume of sales from the nearest grocery stores, remaining land inventory, and the other research criteria, the team quantified the true value proposition of the planned project for this community.
Results
Through its due-diligence process and development expertise, United Properties gained the interest, confidence, and ultimately, the commitment of target retailers, including a high-profile grocer/anchor, Festival Foods. Andover Station opened in October, 2002 as a fully-leased center. The level of success created by this project has spurred additional interest among retailers and has allowed the city to accelerate its commercial development plans.
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