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BUSINESS RETENTION AND <br />DEVELOPMENT COMMITTEE <br />SUBJECT: REVIEW OF RETAIL BROKER ROUNDTABLE <br />DATE:MAY 5, 2014 <br />PRESENTED BY: AARON DEJONG, ECONOMIC DEVELOPMENT <br />SUMMARY: <br />th <br />The BRaD Committee held a retail broker roundtable on April 16 to hear from Denver <br />Metro retail brokers to determine how the City can better provide resources and <br />assistance in recruiting and maintaining strong retail opportunities as well as <br />understanding the needs of retailers today and tomorrow. <br />DISCUSSION: <br />The following list compiles comments made by the brokers throughout the discussion. I <br />have purposefully kept the comments relatively rough so the committee members can <br />identify their own themes that arise from the responses. <br /> In educating the brokers and potential tenant, Louisville needs to tell their <br />success stories and continue to have policies in place to help retailer to be <br />successful as other retailers like to be around other success. Need to achieve at <br />or above store space average for their portfolio. Find out if your retailers are <br />beating their peer stores. <br /> Junior boxes are reducing their footplate / square footage everyone is going to <br />smaller more efficient (example mini-box that use to be in 15K to 20K FT is now <br />in 10k to 15k; 2) Starbucks is moving from 3,000 to 1,500 with drive-through) <br /> Drive-throughs (and double and triple) are becoming more important for <br />restaurants. <br /> Visibility and access is critical for retailer success. Louisville has visibility and <br />access issue due to landscaping requirements with overgrown and dense / overly <br />mature. <br /> Parking requirements for the tenant are very important, don’t be a city that <br />requires less parking than what a retailer wants. <br /> Auto focused, traditional retail, is still a winner. Additionally, access and egress <br />issues in and out of sites. <br /> Lifestyle center concept has proven to not be a workable layout concept. <br />Lifestyle centers only work with enough density to support it. <br /> Louisville is a tertiary market. Denver and Boulder are primary 1st tier markets, <br />Ft. Collins and Co. Springs are secondary. <br /> Retailers do not factor city boundaries in their site selection criteria. <br />