With tight budgets, and in the case of California, the elimination of redevelopment agencies, municipalities are challenged to find ways to support and encourage existing retail property owners to enrich their assets.  

Particularly with smaller owners, a city may need to take the lead in identifying reasons for private owners to commit to optimizing their assets.  In return for this leadership, retail sales improvement results in sales tax revenue for the municipality.  
Solheim Research can assist a municipality and its property owners in several ways:
  • Measuring the Market
Often smaller property owners have held property for many years and may not have a current understanding of the trade area for their property.  For a city’s point of view, it is advantageous for all retail property owners to maximize their sales, and thereby the sales tax revenue flowing to the city.  Understanding the trade area demographic, economic, and competitive factors is critical to continued strong sales performance, and continued growth of asset value.

  • Filling Vacant Space with Sales Tax-Generating Uses
Solheim Research quantifies the market and the trade area and then identifies the tenants who can complement the existing mix and particularly fill voids in the trade area, thereby maximizing the sales potential of the project.   Special data packets prepared for each potential tenants.

  • Identify Potential Market Issues in the Trade Area
Research identifies and quantifies market-related issues which can impact future performance.  Such issues could be demographic, economic, competitive, etc.  Long-term asset value depends on long-term strength of the market area.   

  • Develop Actionable Strategy
The above research can then be incorporated into a strategy for the city and the private property owners.  Solheim Research has formed strategic alliances with development consultants, such as The Fransen Company and others.  This second step results in a comprehensive analysis including the development of numerous strategy initiatives for both the municipality and the private investors.

FOR MUNICIPALITIES