Lake forest Mall Harvard Case Solution & Analysis

Lake forest Mall Case Study Solution

Table-5: Evaluation Chart as a Resident (1-10 Rankings)

As a Retailer

For analyzing the site conditions, the perspective of the retailers are also necessary, as the retailers bring business if they thought the site appropriate for their business growth which ultimately generates value for the site. However, the retailers perspective about an optimal site is different form the residents and the office workers.

Retailers often want large traffics over the road to have access to large base of consumers and the normal traffic at the routes near the site put a negative impact over the retailer’s perspective. However, with its proximity to main roads, the loading and deliveries seem to be easy for the retailers. Along with it, the availability of the number of bus stops i.e. 101, 54, 59, 55 etc. and the metro and train stations along with the low trafficked streets, provides an unobstructed view for the passengers towards the retail businesses located near the site.

Another important point for the retailer’s consideration is the proximity to the residential and office buildings, universities, colleges, tourist attractions etc. There is neither a residential building nor a university or college near the site, however, there is an office building of Barber Shop and Co. at a distance of 1 mile and the Gaithersburg Community Museum that attracts the office workers and the tourists towards the site.

Table-6: Site and the nearest Office Building and Tourist Attraction

Sources: Google Maps Directions

Along with all the other points, the site has no geographical or man made things including; a large body of water, large park, cemetery etc. that could block the customer access routes, which is a positive point for a retailer.

Concluding Remarks as a Retailer

On the basis of the above analysis, the site could be considered to be an average site with no proximity to residential buildings, universities/colleges and a lower level of traffic. However, the large routes make the loading and deliveries easy for the retailer. Moreover, its proximity to offices and various tourist attractions, the unobstructed view and customer access routes makes it an optimal site for the retailer. The following Table 7 summarizes the overall findings related to the site as a resident and rankings within a limit of 1 to 10.

Table-7: Evaluation Chart as a Retailer (1-10 Rankings)

Part 02: Defining Market Area Boundaries

The market area boundaries could be determined for the three different site utilization ways. If the site is utilized as an office, the primary market for the site would be the areas where there is no office located and secondary market for the site office would be that where the above stated office i.e. Barber Shop and Co. is located. Moreover, the geographical and man made features like restaurants, community centers, residential buildings defines the primary and secondary markets for the three locations. All of the required data for the determination of boundaries related to the three ways of utilizing the site are given in the Table 8 below;

Table-8: Factors for Defining Primary and Secondary Markets

From the above analysis, teh primary and secordary market areas for all of the three site utilization alternatives could be determined. The priamry and secodary market areas for each of the alternative are provided below;

Office

Primary Market Areas

• Areas where unemloynent rate is high.
• Areas where major comoanies are located.

Secondary

• Areas in prozimity to Barber Shop Co.

Residential

Primary

• Areas where population density is high i.e. other densly populated cities.
• Areas near the site, as no building for residential pupose is found in the proximity to the site.

Secondary

• Rural areas.

Retail

Primary

• Areas with huge people traffic i.e. shopping malls.
• Areas with lack of business opportunities.

Secondary

• Areas in proximity to AT&T, T-Mobile etc.

Conclusion

In conclusion, it could be said that the site has quitely optimal conditions with its favorablity in an office worker’s, retailer’s and in the resident’s perspective. Moreover, the circle for its primary and the secodary markets, taking into account the three alternative ways, is also vast which increases the expectations for the real-estate investors. Therefore, it could be said that teh site location with its favorable conditions and vast markets, could provide substantial amount of profits to inveators.

Appendices

Appendix-1: Transits near the Site (Lake Forest Mall, Gaithersburg)

Bus Stations

Metro Stations

Train Stations

Appendix-2: Traffic Map

Appendix-3: Restaurants Near the Site

Appendix-4: Parks and Community Centers near the Site

Community Centers

Parks

Appendix-5: Nearby Grocery Stores and Public Parks

Grocery Stores

Public Parks

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