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MARCH 2015 \ BUILDING DIALOGUE \

51

as well as the residents and daytime

population in the immediate trade area

using a void analysis.

• Developers need to be intentional in

the development of their retail space. For

example, if they wish to secure a restau-

rant, they need to incorporate a hood sys-

tem, grease trap and outdoor seating area

(if possible) into their development plan

and budget. Other logistics, such as daily de-

liveries and trash removal, are critical to ad-

dress before construction of the project even

begins.

• Developers also need to be intentional

about the access and parking for retail cus-

tomers. This is very critical to the success for

retailers and restaurants, and parking is major

determining factor when they decide whether

or not to lease space.

• First-floor retail also needs to consider the im-

pact to the residence above. Such issues as hours of

operation, restaurant odors, delivery times and outside cus-

tomer traffic can be a negative more than a positive o the

building’s amenities.

• Developers need to be realistic about the visibility of their

retail space to heavily trafficked streets and intersections. All

things being equal, a retail space with inferior visibility to

the main road or intersection will equate to a smaller rental

rate and might not ever attract a strong business. Currently,

almost every nondestination business would prefer to pay a

premium for a superior location instead of receiving a dis-

count for an inferior space.

Denver’s new apartment buildings aren’t just providing

new residences to people, but many are also bringing new

– and needed – amenities and services to their residents and

the surrounding community.

\\

blarson@legendretailgroup.com

TRENDS

in Retail Development

Belleview Station

MDP

ENGINEERING GROUP

303.389.0095

www.mdpeg.com

“MDP Engineering has one goal – to be a great

engineering rm by providing the highest levels of

both technical delivery and project management,

and by being committed to a culture of loyal

clients and great employees.”

HVAC

Plumbing

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Owner Representation

Of ce

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Hospitality

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Residential

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Government

Retail/Restaurant

Michael Passas, President