In a recent article from Commercial Investment: The Magazine of the CCIM Institute which was entitled “Deliver with Demographics”, the article began:
Technology has taken a giant leap forward in the last few years by expanding the traditional tool of demographic research into an analysis of lifestyles and consumer spending behavior. The old school strategy was to look at population count, income, and age to determine a good location for a business. But new-school tools such as leakage factor, retail gap, and Tapestry lifestyle analyses take decision making to a higher level and reduce the risk of failure.
A few of us who remember being impressed with massive books available from the Census Department that were 2 years out of date when finally received. Now we are pleased to have the capability of maneuvering data which is more up to date and much more applicable to the local task at hand.
Drive times can be generated with ease for alternative sites. Market potential for a site can be quickly developed which includes specific spending patterns by product category. This in turn can be taken another step to provide a “Leakage/Surplus By Sector” report to determine a shortage or excess for a specific retailer within the area chosen for evaluation.
The CCIM programs also provide profile groups within a study area; these are known as “Tapestry Segments” and greatly enhance a dynamic understanding of a market.There are numerous tools available to assist todays decision makers; your best decision may be to select a commercial real estate professional who is aware of the demographic solutions to your particular needs.
To view this week’s Featured Property click HERE.
Bill Jeansonne, a native of Alexandria, Louisiana, received both his undergraduate degree and master’s in business administration (MBA) from Louisiana State University (LSU). Bill has 13 years experience in the commercial and industrial real estate business and 14 years experience in commercial and industrial warehouse design and sale of handling equipment. His specializations include commercial and industrial development, brokerage, and leasing, as well as lease negotiations and tenant build outs.
A Designee member of the Certified Commercial Investment Member Institute (CCIM), Bill’s professional memberships include Baton Rouge’s Commercial Investment Division (CID), the LSU MBA Alumni Association, a founding member of the board of managers for the Louisiana Commercial Data Base (LACDB), a member of Louisiana REALTORS® (LR), a member of the National Association of REALTORS® (NAR), and a member of the International Council of Shopping Centers (ICSC). Bill has also served as a president of CID, a chairman of the CID Trends Program, a chairman of the LSU MBA Alumni Association Louisiana Looking Up Program, and on the Baton Rouge Area Chamber (BRAC) Trends committee. His current civic affiliations and past service include board chairman of the Baton Rouge Speech and Hearing Foundation, president of the Capitol SERTOMA Club of Baton Rouge, member of the Cadets of the Ole War Skule, and an alumnus of Omicron Delta Kappa (OΔK).
Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Growth Coalition; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).