City Council Agenda and Packet 2013 05 07 - PG 113 - ATTACHMENT #4

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Economic and Market Assessment City of Louisville, CO Although a community center does not have a full-line department store, it may have a strong specialty store or stores. The typical size is about 150,000 square feet of gross leasable area, but in practice, it may range from 100,000 to 350,000 or more square feet. Centers that fit the general profile of a community center but contain more than 250,000 square feet are classified as super community centers. As a result,the community center is the most difficult to estimate for size and pulling power. A power center is a type of super community center that contains at least four category-specific, off- price anchors of 20,000 or more square feet. These anchors typically emphasize hard goods such as consumer electronics, sporting goods, office supplies, home furnishings, home improvement goods, bulk foods, health and beauty aids, and personal computer hardware/software. Regional Shopping Center — This type of center provides general merchandise, apparel, furniture, and home furnishings in depth and variety, as well as a range of services and recreational facilities. It is built around two or more full-line department stores of generally not less than 50,000 square feet. The typical size is about 500,000 square feet of gross leasable area, but in practice it may range from 250,000 square feet to more than 800,000 square feet. Super Regional Shopping Center — A super regional center offers an extensive variety in general merchandise, apparel, furniture and home furnishings, as well as a variety of services and recreational facilities. It is built around three or more full-line department stores generally of not less than 75,000 square feet each. The typical size of a super-regional center is about 1 million square feet of GLA. In practice the size can range from about 500,000 to more than 1.5 million square feet. Example: Flatiron Crossing. The figure below contains the criteria for the five types of shopping centers described above. It should be noted that free standing retail constitutes a significant amount of retail in the Louisville marketplace as well. Older "main street" style shopping districts like Louisville's downtown are typically comprised of a collection of single tenant buildings. National chain pharmacies and grocery stores have increasingly embraced the stand alone building concept. 25