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FUTURE DEMAND FOR RETAIL SPACE DUE TO POPULATION CHANGE <br /> There is a relationship between the numbers ofeo le in the trade area and <br /> P P the square footage <br /> of retail space needed to serve that population.If the population of the trade area is predicted to <br /> grow or decline,the business development team can develop a rough estimate of the amount of <br /> additional retail space that could expect to be developed or lost. The business development <br /> team's challenge will be to capture that new growth downtown,where there is probably retail <br /> space that is vacant or underused,or to minimize vacancy through recruitment. <br /> To Do: <br /> Calculate the amount of potential retail space demand for the trade area. <br /> Estimated Population 2000: <br /> (Cite source: ) <br /> -minus 1990 Population: — <br /> (Source: 1990 Census of Population) <br /> equals Estimated Number of New/Lost Persons: <br /> divided by Average Household Size: - <br /> i (Source:1990 Census of Population) <br /> equals Estimated Households in 2000: _ <br /> times Typical Expenditures per Household: X <br /> (Source: Consumer Expenditure Survey, <br /> sales tax or other estimate) <br /> equals Estimated New/Lost Retail Sales: _ <br /> divided by Average Sales per Square Foot: – <br /> (Source:Dollars and Cents of <br /> Shopping Centers or local estimate) <br /> equals Estimated New/Lost Square Feet of Retail <br /> Space to Accommodate Population Change <br /> Comments: <br /> • - <br /> 38-STEP BY STEP MARKET ANALYSIS <br />