![Page 1: Chapter 18 Commercial and Industrial Development](https://reader036.vdocuments.mx/reader036/viewer/2022062422/56649ece5503460f94bdbc22/html5/thumbnails/1.jpg)
Chapter 18
Commercial and Industrial Development
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Types of Commercial Property
Shopping/Retail Centers
Office Buildings
Hotels/Motels (Hospitality)
Restaurants
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Types of Industrial Property
Factories
Warehouses
Distribution Centers
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Shopping Center Types
Neighborhood shopping center
Community shopping center Regional shopping center Superregional shopping
center Other shopping centers
Super Store Factory Outlet Center
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Figure 18.1
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Table 18.1
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Evolution of the Shopping Center Old downtown/Main Street Suburban growth & the
automobile
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Shopping Center Development
Market and Feasibility Analysis Primary and secondary trade
areas Market size Competitive survey
Site Location Tenant Selection
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Cinderella City Mall/ Englewood City Center
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Cinderella City Mall/ Englewood City Center
1968 – 1.35M SF 1997 - closed
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Cinderella City Mall/ Englewood City Center
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Today’s Shopping Center Development
ULI suggestions for project success:
Unified architecture / theme
Many entrances/exits
Sufficient on-site parking
Quality site improvements
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ULI:“Dollars & Cents of Shopping Centers” (1995)
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Office Buildings
Location Central business districts
Secondary office nodes
Office parks
Corporate Campuses Cheap land Cheap parking Employee quality of life
Office Condos
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Office Condos Owners own piece of a building
(their space) - Mortgage on their space - Condo (maintenance) fees - Real estate taxes
Benefits: - Value appreciation - Tax advantages
interest & depreciation deduction - Fixed office space costs
Except for increases in maintenance/taxes
- Often cheaper than leasing Risks
- Rising interest rates could reduce/eliminate appreciation gains
- Need for more space - Long term commitment
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Industrial and Distribution Facilities
manufacturing warehousing distribution analysis technique
determine existing and potential supply
forecast demand estimate absorption rate compare competitiveness with
other projects
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Lodging Facilities
Customers: Business Pleasure Conventions
commercial hotels highway or airport hotels and
motels resort hotels
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End Chapter 18