Agenda - 05-18-2010 - 8b - Laserfiche WebLink

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potentially absorb an estimated 23,200 square feet ace at current demand levels, This includes nearly 12,700 square feet in retail vacancy levels, the two -mile radius could p > of assorted retail space Accessories, 7,200 square feet in Health and Personal Care Stores, and Clothing and Clothing Stores. 3,300 square feet in Electronics and Appliance 000 square feet of retail radius. More Of special note is the estimated demand capacity for an additional 250, p for an space within the five -mile radius, and over 1.8 millions square feet in tluarenfeetlin Clothing and specifically, our figures indicate that in the five -mile radius there is sufficient capacity Places, 35,000 square feet in additional 98,400 square feet in General Merchandise Stores, 52,20 s9 square feet in Foodservice and Drinking lance Stores, and 4,000 Clothing Accessories, 42,000 260 square feet in Electronics and App capacity could I Stores category. This sizable demand cap ro Health and Personal Care Stores, 20, square feet in the Automotive Sapp Y represent significant opportunities for the U.S. 70 corridor to capture retail sales fiom throughout the greater Hillsborough area. o ect team utilized regional population growth projections to Projected Future Retail Demand ion�'th estimates assume that To facilitate long-term planning, the p' J low -g' rowth develop estimates of future retail demand. Shown in Table 13, since rake, defined as population growth will continue at rates similar to thoepopulatiwnstgce 2000. e Budget and projected 2029 tri- county regional the Office of State Budget estimates assume the prof 2029 within tine Alamance, Dwham, and Orange Counties, using data reported by wes, the estimated increase in retail figures square feet, the Management. Based on these fig 000 and 333,000 two -mile radius is between $66.a� d $rthi� thelhv to le rachr s is between 226, percent vacancy total projected development cap y percent non- retail adjustment and 10 square feet of retail, including a 14 p adjustment. general merchandise stores oriel projected to experience the largest growth include to 000 additional square The retail can $ p ro ected demand, also with between $12 million and $18 veragenstores have the second highest p J uare feet of feet of development. Food and beverage ui ment stores category shows an with beriv,en $12 million and $18 million in retail saeq p9'000 to 42,000 sq potential development. The building materials and garden estimated increase in and of square early of $1 million development more than $14 million in retail sales, an between 23,000 and 34,000 M