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SUBJECT: RETAIL BROKER ROUNDTABLE <br />DATE: MAY 12, 2014 <br />PAGE 3 OF 3 <br />• Retail may not be the highest and best use for Sam's Club. With the building <br />selling, the only problems that were solved were Wal- Mart's problems. <br />• Superior Town Center is challenged from the start. The 'new downtown' concept <br />hasn't proven to work and is missing some key ingredients. <br />• Retail rental rates aren't scaring away tenants. Rates do come into play on new <br />construction <br />• Retail retention along McCaslin will be difficult. They are looking to other <br />corridors. <br />The major themes of the Roundtable include: <br />1. Retailers are scaling down footprints and vehicular access and visibility is critical <br />2. The US 36 Corridor is overbuilt for retail and other corridors (1 -25) are seeing big <br />growth and taking opportunities away <br />3. Louisville is not a regional draw; Boulder and Westminster are the main shopping <br />areas along the corridor <br />4. Competition for retail is fierce. To compete successfully a location must have: <br />• Sufficient population within specified drivetime; residential and daytime <br />population matters, as does income level, education level and buying <br />habits <br />• Good visibility and access and convenient parking <br />• Competitive traffic counts, commuting and other travel patterns <br />5. Incentives matter <br />RECOMMENDATION: <br />This information is for discussion purposes. The input provided at the meeting will be <br />beneficial information as the City commences the Small Area Plans for the McCaslin <br />and South Boulder Road corridors. <br />7 <br />