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TWIN LAKES, Roseville, Minnesota Ma�ket Assessment & Demand Analvsis Retail-Restau�antMa�ket Assessment INTRODUCTION In this section we summa�ize the p�oposed �etail cn�d �estau�ant mix fo�Twin Lakes. We then define the p�imayy t�ade a�ea su��ounding the Twin Lakes site and p�esent a summa�y of demog�aphics fo�this a�ea. W e also summa�ize retaillrestaura�t ma�ket conditions fo�the Twin Lakes t�ade a�ea and the Twin Cities �egion crs a whole. All of this info�mation is utilized in developingan estimate ofthe amount ofadditional �etail and �estau�ant space suppo�table in the Twin Lakes t�ade a�ea. Based on ou� demand calculations, in conside�ation with the quality of the development site and the types of�etail cn�d �estau�antuses p�oposed, we deterrz�i�e whethe� is su�cient demand to suppo�t the volume of �etail and �estau�ant development p�oposed at Twin Lakes i i'�4�rlJ�G�+ �L�I'�l��i-L�I�I\rl The p�oposed �etail &�estau�ant development plan includes a total of 317,000 squa�e feet. The p�oposed �etail mix includes a"big-box" �etaile� of 151,800 squa�e feet in the south-cent�al po�tion ofthe p�oject a�ea on the no�th side ofCounty Road C. Costco is being ta�geted fo�this site. In addition, plans call fo� a junio� ancho�" of app�oximately 81,000 squa�e feet to be located at the weste�n bounda�y of the p�oject a�ea. Welsh Companies has indicated that alternatives to this building could be two 40,000 squa�e footuse�s, such as a la�ge spo�ting goods sto�e c�nd elect�onics �etaile�. Anothe� alternative is to include a mix of th�ee o� fou� sto�es of about 20,000 to 30,000 squa�e feetat this location, such as a la�ge book sto�e, a home fu�nishings sto�e, etc. The development plan also calls fo�app�oximately 58,000 squa�e feetof�etail space scatte�ed in two "main st�eet" buildings along Twin Lakes Pa�kway c�nd seven pc�' sites. The p�elimina�y development p�og�am also includes app�oximately 26,200 squa�e feet of �estau�ant space in these buildings. PRIMARY TRADE AREA The individual �etaile�s and �estau�ants in Twin Lakes will have va�ying t�ade a�eas, depending on thei� size cn�d the p�oducts o� se�vices sold. Fo� example, a la�ge scale wholesale �etaile� such as Costco will d�aw custome�s f�om th�oughoutthe Twin Cities �egion c�nd beyond, while a small convenience sto�e will att�act consume� dolla�s f�om about a one-mile t�ade a�ea, in addition to some streedhighway o�iented demand. Most big-box and'junio� ancho�" type tenants �i �. la�ge spo�ting goods sto�es, home furnishings sto�es, elect�onics supe�sto�es, etc.) a�e likely to d�aw custome�s f�om within about a 5 to 10 minute d�ive time, depending on the cha�acte�istics ofthe t�ade ca�ea population and the supply c�nd location of simila� sto�e types in the a�ea. Restau�ants gene�ally att�act �esidents and daytime wo�ke�s f�om within about five to ten minutes, and also benefit g�eatly f�om syne�gy associated with being located to sto�es that d�aw la�ge numbe�s of custome�s f�om g�eate� distances. Individual �etaile�s will ultimately pe�fo�m detailed t�ade a�ea analyses c�nd assess demand potential fo� thei� specific goods and se�vices. This type of analysis is beyond the scope of this G VA Marquette Adviso�s Page 35