Office Market Studies
Following is a synopsis of components typically involved in a
market feasibility study for office development.
Site Inspection
Each proposed site is personally inspected by a Danter
Company field analyst. The site is inspected for the suitability
for development as it relates to the market. A full area
description is included identifying surrounding land uses, as
well as proximity to area resident services.
Effective Market Area (EMA)
The Effective Market Area (EMA) is identified for the subject
site. The EMA is the smallest geographic area expected to
generate the most support for the subject site. The EMA is based
on population, employment, and commercial concentrations;
existing office development; and interviews with major area
businesses.
100% Field Survey
A 100% field survey is conducted to identify area office
development, including the following characteristics:
- Total space
- Vacancy
- Year opened/renovated
- Rent
- Concessions
- Leasing agent
- Amenities included in rent (i.e., maintenance, janitorial,
security)
- Distribution of total space by vacancy rate, rent range,
and year built
- Five- and ten-year absorption trends
Office Mobility
An evaluation of mobility characteristics of office tenants
will be conducted. Office mobility is based on office
construction trends, arterial development, commercial
development, and housing trends.
Conclusions and Recommendations
- Amount of supportable space at the subject site based on
the following support components:
- Internal mobility
- New business formations
- External mobility
- Projected absorption by support component
- Tenant mix
- Projected rents
- Recommendations for suite sizes and configurations if
appropriate. Of special importance will be an evaluation of
building footprint, whether single-, one-, or two-story
- Step-up support for the subject site
For more information, please call Terry Hall at (614)
221-9096 during business hours (8 am to 5 pm) Eastern US time,
or e-mail us at
thall@danter.com.
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