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<br />Market Analysis for Downtown Redevelopment ***Draft*** <br />City of Centerville Economic Development Authority <br />April 3, 2023 <br />A.9Retail Space Demand in the PMA, 2022-2027 <br />Increase in Consumer Demand in 2022 Dollars, 2022 to 2027$29,769,226 <br />Percent of Consumer Demand Spent at Brick and Mortar Retail85% <br />Demand from Brick-and-Mortar Retail in PMA$25,304,000 <br />Minus Percentage Sales Leakage Outside of the PMA25% <br />Equals Consumer Demand for Retail Sales in PMA$19,000,000 <br />Divided by Average Sales per Square Foot$300-$400 <br />Equals Demand for New Retail Space in PMA48,000-63,000 <br />Minus Existing Vacant Retail Space at 5% vacancy0 <br />Minus Estimated New Retail Space Under Construction25,000 <br />Equals Demand for New Retail Space23,000-38,000 <br />Estimated Percentage Capturable by Downtown Centerville10%-15% <br />Equals Demand for New Retail Space in Downtown Centerville2,300-5,700 <br />Source: ESRI; LOCi Consulting LLC <br /> <br /> <br />Page | 99 <br /> <br />