Retail Potentials & Strategy
The Village of Great Neck Plaza Retail Potentials & Strategy Executive Summary Prepared for: MayyJor Jean Calendar July 17, 2008 Amenta & Co. Objectives Increase Annual Sales of Existing Tenants by 10% Attract 60,000 SF of New Complementary Tenants Increase Retail Employment from 2,000 to 2,500 Ident ify an d Fill Merc han dise an d Serv ice Vo ids Comparable Markets 1.5-mi radius VoGNP East Westport Greenwich New Canaan Hampton Population 40,673 5,846 12,505 18,539 9,998 Race White: 73% White: 96% White: 90% White: 83% White: 90% Black: 6% Black: 1% Black: 2% Black: 5% Black: 3% Asian: 15% Asian: 2% Asian: 4% Asian: 8% Asian: 4% Median Age 47.3 41.1 44.1 44.3 44.8 Median HH Income $107,229 $78,299 $164,277 $108,683 $142,894 Education Bach: 29% Bach: 19% Bach: 39% Bach: 33% Bach: 39% Grad : 34% Grad: 13% Grad: 35% Grad: 25% Grad: 32% The VoGNP is more dense, more ethnically diverse, older, equally educated and affluent when compared to a random selection of comparable communities. The VoGNP is live & work market, as is Greenwich, CT and not a seasonal market, as is East Hampton. Predictably these markets seek books, wellness, healthcare, live and fine arts, art cinema, better women’s apparel, jewelry, and fine dining. Retail/Food & Services Demand Trade Area Defined The Tra de Area is a Peni nsul a b oun de d to th e W est , N orth b y water The East by Community Drive and water The South by Northern State Parkway & Grand Central Parkway Access to Competition to the South, East & West TdATrade Area Demograp hics The Trade Area residential population total demand for retail, restaurants, personal, and financial services exceeds $350 million annually.
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