Wednesday, November 2, 2011

PDC Grocery Market Analysis

On the SoWa grocery store topic, the results are back from a recent market study conducted for the Portland Development Commission to identify new grocery sites and potential grocer candidates for 4 areas: RiverPlace, OHSU/ZRZ, PSU, and 10th & Belmont.

The study gives the following Recommendations / Key Findings:
"1. Prioritize locating a full service grocer in the PSU District, specifically near the 4th & Harrison intersection, with a minimum 20,000 SF footprint and full amenities. The strongest candidates are Market of Choice and New Seasons. They have the capacity, experience and product offerings with the greatest appeal to the university demographic.
2.  With a creative, flexible operator, a smaller store can potentially succeed in the South Waterfront. New Seasons and Barbur World Foods have both expressed interest.
3.  A full service store could be accommodated in South Waterfront with the addition of 10,000 new residents to the existing 3,000 South Waterfront residents (assuming 100 percent occupancy)."

"Based on market data and grocer responses, a site located in PSU, such as the 4th & Harrison site, is the most attractive site for a store location in the immediate future. Grocers anticipate being able to readily pull from the immediate PSU consumer base as well as from residents of the West Hills neighborhood and South Waterfront area, to some extent. A South Waterfront location also holds some promise for a full service store over the longer term and a smaller specialty convenience grocer in the near term. The RiverPlace site was of limited interest, and grocers had no interest in the 10th & Belmont site."

Looks like we'll stick with Burlingame Freddy's , Zupan's on Macadam, and our little Urbana Market for awhile.

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