retail market gap study - cape coral, florida study report_hoffman...retail market gap study hoffman...

RETAIL MARKET GAP STUDY

Hoffman Strategy Group July 2019

Prepared for City of Cape Coral, FL


Hoffman Strategy Group July 2019 2

TABLE OF CONTENTS

TEAM BIO’S 3

SCOPE OF REPORT 5

THE STUDY AREA 6

CAPE CORAL, FL AND SURROUNDING MARKETS 6 CAPE CORAL, FORT MYERS AND LEE COUNTY SHOPPING MALLS AND CENTERS 7 PUNTA GORDA AND CHARLOTTE COUNTY SHOPPING MALLS AND CENTERS 8

RETAIL STORES AND RESTAURANTS 9

EXISTING 9 GAP 12 CONSIDERED AND DISMISSED 12 RECOMMENDATIONS 13

CAPE CORAL MARKET CHARACTERISTICS 15

POPULATION DENSITY 15 POPULATION AND POPULATION GROWTH 16 HOUSEHOLD INCOME 17 HOUSEHOLD EXPENDITURES 18 RETAIL MARKET POTENTIAL 19

APPENDIX 22



TEAM BIO’S Jerry Hoffman is Founder and Partner of Hoffman Strategy Group. For over 30 years, Jerry has provided strategic advice to property owners, developers, publicly-traded REIT’s, private equity firms, Fortune 500 companies, public sector agencies and non-governmental organizations on projects in hundreds of markets across the U.S. and internationally. He has extensive experience conducting market and feasibility analysis related to multi-family housing, hospitality and commercial real estate, economic impact studies, and highest-and-best uses analysis that focus on the integration of mixed-uses in place-making environments. Mr. Hoffman is a highly sought-after expert resource and trusted advisor because of his unique economic perspective and comprehensive range of insight reaching across all areas of real estate markets. Jerry provides sales projections, site location analytics for acquisition, development, leasing and asset management and incorporates quantitative and behavioral Economics of Location™ for the optimal mix of uses and tenants. Dan Sheridan, J.D., is a Partner of Hoffman Strategy Group. Mr. Sheridan is nationally recognized for his over 20 years of extensive experience in the shopping center industry, in mixed-use master planning and programing, and in general redevelopment and repositioning of retail real estate assets. Mr. Sheridan focuses on developing value creation strategies that include asset redevelopment, repositioning and mixed-uses. Previous to Hoffman Strategy Group, Dan was COO of Centennial Real Estate. As President of the Retail Properties Division at the Irvine Company, he was responsible for their Retail Properties portfolio, including Fashion Island in Newport Beach, the Irvine Spectrum Center in Irvine and the Market Place in Irvine and Tustin, California. At General Growth Properties (GGP), Dan was their Executive Vice President of Asset Management responsible for overall financial and operational performance, including new development, redevelopment, leasing, marketing and operations of a 50M SF portfolio spread across multiple states. Jeff Green is a Partner of Hoffman Strategy Group. Mr. Green was formerly the President and CEO of Jeff Green Partners, which merged with Hoffman Strategy Group in 2018. He has 35 years of extensive national consulting experience in the retail industry providing a full spectrum of analytical and data interpretive services. Jeff provides the kind of in-depth analysis that generates critical context, penetrating insight and actionable recommendations based on sales projections, demographic profiles and feasibility studies. Jeff has provided extensive and valuable strategic direction across the country and Internationally to leading retailers, property owners, and developers for development and repurposing ventures. When national media needs industry analysis, they turn to Mr. Green for his expertise, experience and insights on retail and redevelopment trends. Mr. Green was President of the Market Insite Group which specialized in developing web-based tools to assist retailers and property owners in site and tenant selection. He was also



President and Owner of The Green Group which merged with the Market Insite Group in 2001. In total Mr. Green has had 35-years of experience of providing consulting services to retail, restaurant and entertainment tenants.



SCOPE OF REPORT The City of Cape Coral, FL, retained Hoffman Strategy Group to conduct a market gap analysis of national retailers and restaurants that are located in Fort Myers, Punta Gorda, unincorporated Charlotte County and unincorporated Lee County and are not located in Cape Coral, FL. The main objective of this analysis is to provide a recommended tenant mix plan that includes specific national and regional brands that are expanding and may consider a location in Cape Coral, FL, between 2019 and 2024. This is to also include estimates of typical store square footage requirements and, where available, national average store sales. This report may be incorporated in marketing materials used to recruit retailers to the Cape Coral, FL, market; and in presentations at events, such as ICSC-Florida. The following methodology was used to identify potential retail and restaurant brands that may consider a location in Cape Coral, FL.

1. Study Area: The study area for Cape Coral is defined by the geographic boundary of the city.

2. Comparable Areas: The Cape Coral study area is compared to the following geographic areas: Punta Gorda, Ft. Myers, Unincorporated Charlotte County and Unincorporated Lee County.

3. Demographics: Population, demographic and lifestyle (psychographic) data were collected

for Cape Coral and will cover the period 2019 to 2024.

4. Retail Sales Leakage: Retail sales leakage from Cape Coral has been quantified for all retail, food and restaurant categories (i.e., over 27 categories).

5. Supply-Side Inventory and Gap: A matrix was created that is based on an inventory of existing national retailers and restaurants in all five geographies (i.e., Cape Coral, Punta Gorda, Ft. Myers, Unincorporated Charlotte County and Unincorporated Lee County). This allows for additional gap analysis of retailers and restaurants located in the four compared-to geographies and not in Cape Coral; and retailers and restaurants not yet located in any of the five geographies and could be recruited to Cape Coral.

6. Summary Findings & Recommendations: Based on the above, this study provides a.) a recommended retail, food and restaurant tenant mix plan that includes specific national and regional brands that are expanding and may consider a location in Cape Coral for 2019 to 2024; b.) an estimate of typical store square footage requirements; and, c.) where available, national average store sales.



THE STUDY AREA

CAPE CORAL, FL AND SURROUNDING MARKETS The study area includes the city boundaries of Cape Coral (in red), Fort Myers (in blue) and Punta Gorda (in yellow); and the unincorporated areas of Charlotte (in purple) and Lee (in green) counties.

The shopping malls and centers included in this study area are identified in the map above and described in more detail in the following section.

Cape Coral, FLCape Coral, FLFort Myers, FLPunta Gorda, FLLee County, FLCharlotte County, FL



CAPE CORAL, FORT MYERS AND LEE COUNTY SHOPPING MALLS AND CENTERS The map below identifies the location of shopping malls and centers in the Cape Coral, Fort Myers and unincorporated Lee County area.

The malls and centers identified range in size from the 96,000 SF Bay Landings community center that is anchored by The Fresh Market and HomeGoods in Bonita Springs to the 185,000 SF Belk anchored Shops at Surfside in Cape Coral, the 777,000 SF Port Charlotte Town Center in Port Charlotte, and the 1.3 million SF Edison Mall in Fort Myers. Yellow shade boxes are malls and centers that are located in Cape Coral. Blue shade boxes are the super-regional malls that have 900,000 SF or more in gross leasable area and include Edison Mall, Gulf Coast Town Center, Coconut Point Town Center and Miromar Outlets.

Lee and Charlotte Centers

Cape Coral, FLCape Coral, FLFort Myers, FLLee County, FL

Mcgregor Point Shopping Center

Gulf Points Square

The Plaza at Island Pass

Sanibel Outlets

Midpoint Center

Coralwood Shopping Center

Village Shoppes at HealthPark

Summerlin Crossings

Coral Pointe Shopping CenterWal-Mart SuperCenter

Shops at Surfside

Cypress Lake Shopping Center

Cypress Trace

Expo At BrantleyPinebrook Park

Bell Tower Shops

Palm Pointe Shoppes

Market Square

Walmart SuperCenter

South Plaza

Page Field Commons

El Dorado Plaza

Edison Mall

Pine Island Marketplace

Sam's Club Center

Alico Commons

Coral Walk

Northpoint Shopping CenterHancock Bridge Square

Wal-Mart Plaza

Merchants Crossing Shopping Center

Colonial Square

The Forum at Fort Myers

Alico Lakes Village

Gulf Coast Town Center

Morse Shores Shopping Centers

Estero Town Commons

Coconut Point Town Center

Miromar Outlets

The Prado At Spring Creek

Bonita Bay PlazaBay Landings

Center Of Bonita SpringsSprings Plaza



PUNTA GORDA AND CHARLOTTE COUNTY SHOPPING MALLS AND CENTERS Unincorporated Charlotte County has more malls and centers than Punta Gorda as shown in the map below.

Burnt Store Marketplace (in orange), anchored by The Home Depot and Publix, is the only center located in Punta Gorda. The other centers are located in Englewood and Port Charlotte, including Port Charlotte Town Center, a 777,000 SF regional mall that is anchored by JCPenney, Dillard’s, Bealls, Sears and Macy’s.

Lee and Charlotte Centers


Burnt Store Marketplace

Pine Island MarketplaceSam's Club Center

Northpoint Shopping Center

Coral Walk

Shops at Surfside

Coral Pointe Shopping Center

Wal-Mart SuperCenter


Promenades Mall

Kings Crossing ShoppingVillage Marketplace

Murdock Carousel

Port Charlotte Marketplace

Port Charlotte Town CenterHeritage Plaza

Edison Mall

Englewood Super Center

Merchants Crossing

15.4 mi



RETAIL STORES AND RESTAURANTS

EXISTING The table below lists national tenants for each shopping mall and center in city boundaries of Cape Coral, FL.

Property Address City National Tenants Coral Pointe Shopping Center

1631 Del Prado Blvd S Cape Coral

Publix, Ross Dress For Less, Staples, Dollar Tree, GameStop, Moe’s Southwest Grill

Coral Walk 1850 NE Pine Island Cape Coral

Target, Burlington, Kay Jewelers, Mattress Firm, Chick-fil-A, Chili’s, Five Guys, Olive Garden, Panera Bread, Starbucks


2301 Del Prado Blvd S Cape Coral

JCPenney, Bealls, Dollar General, GNC, HomeGoods, Swarovski, ULTA, Chipotle, Starbucks; Aldi’s supermarket coming soon

Midpoint Center 2420 Santa Barbara Blvd Cape Coral Publix, Target, GNC, Ruby Tuesday, Subway

Northpoint Shopping Center

Pine Island & NE 10th Cape Coral

Bed Bath & Beyond, PetSmart, ALDI, Five Below Mattress Firm, Michaels, Ruby Tuesday, Subway

Pine Island Marketplace

250 SW Pine Island Rd Cape Coral

Kohl's, OfficeMax, Dollar Tree, Dressbarn (will be closing), Famous Footwear, Walmart Neighborhood Market

Sam's Club Center

301 SW Pine Island Rd Cape Coral Sam’s Club, Mattress Firm, Buffalo Wild Wings

Shops at Surfside Veterans Pky @ Skyline Blvd Cape Coral Belk, Dollar Tree, GameStop, Starbucks

Wal-Mart SuperCenter

1619 Del Prado Blvd S Cape Coral Walmart (US)

A listing of national tenants in Fort Myers shopping malls and centers is provided in the following table. Property Address City National Tenants

Palm Pointe Shoppes

11601-11609 S Cleveland Ave Fort Myers

Dunkin Donuts, Goodwill, Mattress Firm, Plato’s Closet, Starbucks, Subway, The Vitamin Shoppe

Alico Commons 16960-16980 S Tamiami Trl Fort Myers Publix

Summerlin Crossings

15880 Summerlin Rd Fort Myers Publix, Walgreens, GNC

Morse Shores Shopping Centers

4901 Palm Beach Blvd Fort Myers Big Lots, Dollar General, Save-A-Lot



Alico Lakes Village Alico Rd&Interstate 75 Fort Myers City Furniture, Ashley Home Store, Chick-fil-A

McGregor Point Shopping Center

15271 McGregor Blvd Fort Myers Tuesday Morning, Big Lots, Goodwill

The Home Depot Center

14655-14890 S Tamiami Trl Fort Myers

The Home Depot (US), ABC Fine Wine & Spirits, Bahama Breeze

Sanibel Outlets 20350 Summerlin Rd Fort Myers 42 tenants

Walmart SuperCenter

14821 Ben C Pratt Pky Fort Myers Walmart, Dairy Queen, Perkins

El Dorado Plaza 4429 Cleveland Ave Fort Myers Big Lots

Page Plaza 5050-5100 S Cleveland Ave Fort Myers Dollar Tree, Sam’s Club, Advance Auto Parts

Gulf Points Square 15551-15660 San Carlos Blvd Fort Myers Big Lots

The Plaza at Island Pass San Carlos Blvd Fort Myers

Target, Bealls Outlet, Dollar Tree, Pet Supermarket, Pet Supplies Plus

South Plaza 4606-4666 S Cleveland Ave Fort Myers

Burlington, Jo-Ann Fabric and Craft Stores, Family Dollar

Cypress Lake Shopping Center

7171 Cypress Lake Dr Fort Myers

Costco, T.J. Maxx, Bob Evans, Chick-fil-A, HomeGoods, Staples

Cypress Trace 13300 S Cleveland Ave Fort Myers

Bealls, Ross Dress For Less, Stein Mart, Bealls Outlet, CVS, Burger King, Jiffy Lube, LensCrafters, Tuesday Morning

Page Field Commons

4945-5049 Cleveland Ave Fort Myers

Marshalls, Dick's Sporting Goods, Best Buy, PetSmart, Party City, Pier 1 Imports, Five Below, Men’s Wearhouse, Office Depot, Old Navy, Panera Bread, Steak n Shake,

Bell Tower Shops 13499 S Cleveland Ave Fort Myers

Bed Bath & Beyond, The Fresh Market, Bath & Body Works, Chico’s, Dave & Busters, Fleet Feet Sports, Francesca’s, Grimaldi’s Pizzeria, Jared the Galleria of Jewelry, Jos. A. Bank, Mimi’s Café, Omaha Steaks, Regal Cinemas, Soma Intimates, Sunglass Hut, T.G.I. Friday’s, Talbots, The Walking Company, ULTA, Victoria’s Secret, White House I Black Market, Williams-Sonoma, World of Beer

Market Square 13711 S Tamiami Trl Fort Myers

26 tenants including Target, American Signature Furniture, Total Wine & More, DSW, Moe’s Southwest Grill

Colonial Square 9375 Six Mile Cypress Pky Fort Myers

Kohl's, Chipotle, Dollar Tree, European Wax Center, First Watch, Hobby Lobby, Ollie’s Bargain Outlet, PetSmart, Texas Roadhouse,

The Forum at Fort Myers

9350-9400 Dynasty Dr Fort Myers

Target, Bed Bath & Beyond, PETCO, Buffalo Wild Wings, Dollar Tree, Firehouse Subs, Five Guys, Mattress Firm, Rack Room Shoes,



Ross Dress for Less, Staples, Starbucks, Subway, The Home Depot

Gulf Coast Town Center

10012 Gulf Center Dr Fort Myers

80 tenants including Bass Pro Shops, Target, Belk, JCPenney, Costco, Dick's Sporting Goods, Regal Cinemas

Edison Mall 4003-4325 Cleveland Ave Fort Myers

119 tenants including Dillard's, JCPenney, Macy's, Sears, Books-A Million

The only center in Punta Gorda, the 211,000 SF Burnt Store Marketplace that is anchored by The Home Depot and Publix. Other malls and centers in Charlotte and Lee counties are provided in the table below. Property Address City National Tenants

Bay Landings 27251 Bay Landing Dr

Bonita Springs

Carrabba’s Italian Grill, HomeGoods, Pizza Hut, Starbucks, The Fresh Market

Bonita Bay Plaza 26831-26841 S Tamiami Trl

Bonita Springs Publix, Burger King, Dollar Tree, GNC

The Prado At Spring Creek

25141-25301 S Tamiami Trl

Bonita Springs Stein Mart, Walgreens, Buffalo Wild Wings

Center Of Bonita Springs

3300 Bonita Beach Rd

Bonita Springs Publix, Bealls Outlet

Springs Plaza 8951 Bonita Beach Rd

Bonita Springs

Bealls Outlet, Goodwill, Harbor Freight Tools, Wingstop, Winn-Dixie

Englewood Super Center 2931 S McCall Rd Englewood Walmart Merchants Crossing 1500 Placida Rd Englewood Bealls, Publix Estero Town Commons

10800 Estero Town Commons Pl Estero Lowe’s, Dollar Tree

Miromar Outlets 10801 Corkscrew Rd Estero 162 tenants

Coconut Point Town Center

Fashion Dr @ Coconut Rd Estero

147 tenants including Dillard's, Bed Bath & Beyond, Best Buy, DSW, Michaels, Office Depot, PetSmart, Ross Dress for Less, T.J. Maxx, Target, Ted’s Montana Grill, Total Wine & More, ULTA

Wal-Mart Plaza 545 NE Pine Island Rd

North Fort Myers Walmart, Dollar Tree, Rent-A-Center, Sonic

Merchants Crossing Shopping Center

15201 N Cleveland Ave

North Fort Myers

The Home Depot (US), Bealls Outlet, Jo-Ann Fabric and Craft Stores, Dollar General, Applebee’s, Dunkin Donuts, Popeyes

Kings Crossing Shopping 2000 Kings Hwy

Port Charlotte Winn-Dixie, Dollar Tree, Bealls Outlet

Port Charlotte Marketplace

19400 Cochran Blvd

Port Charlotte

Lucky's Market, Ross Dress For Less, Burlington, HomeGoods, Skechers Outlet



Heritage Plaza 18500-18700 Veterans Blvd

Port Charlotte

Bed Bath & Beyond, Best Buy, Marshalls, Michaels, Pier 1 Imports, Firehouse Subs, T.G.I. Friday’s, Visionworks

Village Marketplace 1825 Tamiami Trl Port Charlotte

Big Lots, Staples, Books-A-Million, Save-A-Lot, Dollar Tree, Rent-A-Center

Promenades Mall 3280 Tamiami Trl Port Charlotte Winn-Dixie, Bealls Outlet, Tuesday Morning

Murdock Carousel 1900 Tamiami Trl Port Charlotte

Lowe’s, Havertys Furniture, Office Depot, Earth Origins

Port Charlotte Town Center 1441 Tamiami Trl

Port Charlotte

70 tenants including JCPenney, Dillard's, Bealls, Sears, Macy's, Regal Cinemas, DSW, Old Navy, Ruby Tuesday

GAP The table below lists national retailers, grocer’s and restaurants not in the Cape Coral, FL, market and expanding in the Southeast US.

Retailers Nearest Location to Pine Island & 41 in Cape Coral Miles Costco Cypress Lake Dr., Ft. Myers

Gulf Coast Town Center, Ft. Myers 11 23

Trader Joe’s Granada Shoppes, Naples 42 Whole Foods Daniels Pkwy & 6 Mile Cypress Pkwy, Ft. Myers 12 DSW Designer Shoe Warehouse Market Square, Ft. Myers (adjacent to Costco) 11 Marshalls Fowler & 41, Ft. Myers 8 Books-A-Million Edison Mall, Ft. Myers 8 Ollie’s Bargain Outlet Colonial Square, Ft. Myers 10 Total Wine & More Market Square, Ft. Myers (adjacent to Costco) 11 B.J.’s Restaurant & Brewhouse Costco area at Gulf Coast Town Center, Ft. Myers 23 Longhorn Steakhouse Market Square, Ft. Myers (adjacent to Costco) 11 Texas Roadhouse Colonial Square, Ft. Myers 10 World of Beers Bell Tower Shops, Ft. Myers (near Market Square) 11

CONSIDERED AND DISMISSED The table below lists national retailers, grocer’s and restaurants not in the Cape Coral, FL, market, but are located in the surrounding market and will not open a location in Cape Coral, FL.

Category Retailer Rationale

Department Stores Macy’s, Dillard’s and Sears (JCPenney in Cape Coral) Closing stores / not expanding

Men’s Apparel Men’s Wearhouse, Jos. A. Bank Closing stores / not expanding

Women’s Apparel Chico’s/Soma, Dressbarn, Lane Bryant, White House I Black Market

Closing stores / not expanding



Sporting Goods

Dick’s Sporting Goods Bass Pro Shops

Sales cannibalization of closest store located at 4977 S. Cleveland Ave. in Ft. Myers Sales cannibalization of Gulf Coast Town Center store location (20 miles)

Restaurants Bahama Breeze, Chili’s, Grimaldi’s, Mimi’s Café, Ted’s Montana Grill

Closing locations / not expanding

Electronics

Apple Store Best Buy

Nearest store 40-miles south at Waterside Shops in Naples, which completed renovations in 2019; plus, Best Buy in Fort Myers has an Apple store-within-a-store. Ft. Myers store serves Cape Coral; not expanding

RECOMMENDATIONS Hoffman Strategy Group recommends the following mix of retailers, grocers and restaurants based on the previous list.

Retailers Average SF Average Store Sales

Average Sales / SF

Costco 150,000 $168,750,000 $1,125 Trader Joe’s 15,000 $27,450,000 $1,830 DSW Designer Shoe Warehouse 20,950 $5,250,000 $250 Marshalls 30,000 $12,300,000 $410 Ollie’s Bargain Outlet 33,000 $3,750,000 $114 Books-A-Million 10,000 $4,250,000 $425 Total Wine & More 20,000 $8,000,000 $400 B.J.’s Restaurant & Brewhouse 6,000 $4,398,000 $733 Longhorn Steakhouse 5,000 $3,500,000 $700 Texas Roadhouse 6,500 $4,582,500 $705 World of Beer 4,200 $2,000,000 $475

The blue shaded stores average square footage and store sales are based on data from corporate 10-K reports, National Retail Federation reports, and reports from brokers. The orange shaded stores average square footage and store sales are based on Hoffman Strategy Group’s proprietary database of tenants located in malls and centers throughout the U.S.



Costco, Trader Joe’s and Whole Foods existing locations are provided in the map below.

Costco’s site selection requirements include a location that has access to high traffic counts and a high-density business district. An optimal location for a Costco store location in Cape Coral is in the vicinity of the Merchants Crossing Shopping Center at Pine Island and Highway 41.

Costco

Costco

Cape Coral, FLCape Coral, FLFort Myers, FLLee County, FL

CostcoCostco

Whole Foods Market

Trader Joe's

Whole Foods Market

6.6 mi9.7 m

i

19.5 mi



CAPE CORAL MARKET CHARACTERISTICS

POPULATION DENSITY Fort Myers at 49 square miles and Cape Coral at 119 square miles have the most population density of this geographic area:

• Fort Myers has 1,665 persons per square mile • Cape Coral has 1,605 persons per square mile • Punta Gorda has 946 persons per square mile


Population Density1 dot = 50



POPULATION AND POPULATION GROWTH Cape Coral is the largest of the three cities and has the fastest forecasted growth in population for the period 2019 to 2024.

The map above shows the forecasted growth in population at the census tract level. Of note for Cape Coral is the projected growth of 10% or more in many census tracts in the northeast, northwest, and southwest areas.

Pop-Facts by Environics 2019 Cape Coral city,

FL

Punta Gorda city, FL

Fort Myers city, FL

Charlotte County,

FL

Lee County,

FL Population

2024 Projection 208,389 21,441 88,214 199,312 821,251 2019 Estimate 191,097 19,872 81,607 185,682 757,170 2010 Census 154,305 16,641 62,298 159,978 618,754 2000 Census 105,951 14,511 56,458 141,614 440,884


% Population Growth: 2019-2024-10--5-5-00-55-10> 10



Growth 2019-2024 9.05% 7.90% 8.10% 7.34% 8.46% Growth 2010-2019 23.84% 19.42% 30.99% 16.07% 22.37% Growth 2000-2010 45.64% 14.68% 10.34% 12.97% 40.34%

The above table shows that Cape Coral’s population is projected to increase by 9% between 2019 and 2024 versus 7.9% and 8.1% for Punta Gorda and Fort Myers, respectively. This growth should positively influence consumer demand for retail, grocery and restaurants in the Cape Coral market.

HOUSEHOLD INCOME The map below shows average household income at the census tract level.

Overall income levels and the median age of households for Cape Coral, Fort Myers and Punta Gorda are provided in the following table.

Average Household Income< $25,000$25,000 - $40,000$40,000 - $60,000$60,000 - $80,000$80,000 - $100,000$100,000 - $150,000> $150,000




Pop-Facts: Demographic Snapshot (Part 2)

Cape Coral city, FL

Punta Gorda city, FL

Fort Myers city, FL

2019 Est. Average Household Income $74,696 $86,689 $66,804 2019 Est. Per Capita Income $29,240 $44,217 $27,580 2019 Est. Median Household Income $58,869 $59,591 $45,207 2019 Median Age 46 66 40

HOUSEHOLD EXPENDITURES Cape Coral household spending is estimated at $4.2 billion in 2019 and projected to $5.0 billion by 2024. Spending estimates by category are provided in the table below.

2019 Aggregate Expenditure

Estimate

2024 Aggregate Expenditure

Estimate

2019 Annual

Average per Consumer

Unit

2024 Annual

Average per Consumer

Unit Total Identified Expenditures $ 4,207,904,519 $ 4,990,523,352 $ 56,252 $ 61,339

Motor vehicle and parts dealers (NAICS 441)

$ 397,777,462 $ 481,154,240 $ 5,318 $ 5,914

Furniture and home furnishings stores (NAICS 442)

$ 20,174,171 $ 23,438,168 $ 270 $ 288

Electronics and appliance stores (NAICS 443)

$ 45,586,236 $ 54,288,925 $ 609 $ 667

Home centers (NAICS 44411)

$ 51,431,603 $ 61,657,252 $ 688 $ 758

Grocery stores (NAICS 4451)

$ 257,888,087 $ 300,894,576 $ 3,447 $ 3,698

Specialty food stores (NAICS 4452)

$ 10,059,269 $ 11,699,631 $ 134 $ 144

Beer, wine, and liquor stores (NAICS 4453)

$ 13,417,532 $ 15,983,009 $ 179 $ 196

Pharmacies and drug stores (NAICS 44611)

$ 45,926,356 $ 54,378,719 $ 614 $ 668

Cosmetics, beauty supplies, and perfume stores (NAICS 44612)

$ 2,975,445 $ 3,539,334 $ 40 $ 44

Optical goods stores (NAICS 44613)

$ 2,157,788 $ 2,496,855 $ 29 $ 31

Food (health) supplement stores (NAICS 446191)

$ 1,559,639 $ 1,839,799 $ 21 $ 23

Men's clothing stores (NAICS 44811)

$ 2,368,765 $ 2,653,656 $ 32 $ 33



Women's clothing stores (NAICS 44812)

$ 8,439,172 $ 9,334,614 $ 113 $ 115

Children's and infants' clothing stores (NAICS 44813)

$ 4,285,313 $ 4,797,927 $ 57 $ 59

Family clothing stores (NAICS 44814)

$ 28,009,901 $ 31,399,234 $ 374 $ 386

Clothing accessory stores (NAICS 44815)

$ 2,009,894 $ 2,216,664 $ 27 $ 27

Other clothing stores (NAICS 44819)

$ 3,101,117 $ 3,426,065 $ 41 $ 42

Shoe stores (NAICS 4482) $ 12,167,653 $ 13,997,914 $ 163 $ 172 Jewelry, luggage, and leather goods stores (NAICS 4483)

$ 4,681,761 $ 5,036,393 $ 63 $ 62

Sporting goods, hobby, and musical instrument stores (NAICS 4511)

$ 21,172,723 $ 25,144,230 $ 283 $ 309

Book stores (NAICS 451211)

$ 4,579,475 $ 5,031,745 $ 61 $ 62

Department stores (excluding leased) (NAICS 4522)

$ 43,614,333 $ 50,473,259 $ 583 $ 620

Warehouse clubs, superstores, other gen. merchandise (NAICS 452311)

$ 170,349,042 $ 199,602,166 $ 2,277 $ 2,453

All other general merchandise stores (NAICS 452319)

$ 28,215,644 $ 33,032,511 $ 377 $ 406

Full-service restaurants (NAICS 722511)

$ 111,744,110 $ 134,498,766 $ 1,494 $ 1,653

Fast food restaurants (NAICS 722513)

$ 98,989,195 $ 119,143,806 $ 1,323 $ 1,464

Source: Environics 2019 Costco is part of the Warehouse Clubs and Superstores category, a category that has an estimated consumer spending amount of $170.3 million in 2019 and forecasted at $200 million by 2024.

RETAIL MARKET POTENTIAL The table below reports on retail market potential by store category for the city of Cape Coral, FL. Note that the total retail, food and beverage excludes spending on auto dealers, gas stations and e-commerce.



2018 Demand 2018 Supply Opportunity Gap/Surplus

Total Retail, Food & Beverage (Exc. Autos, Gas Stations and Ecommerce)

$1,961,873,572 $1,590,899,955 $370,973,617

Furniture and home furnishings stores (NAICS 442) $55,352,350 $80,906,733 ($25,554,383) Electronics and appliance stores (NAICS 443) $51,084,209 $56,943,885 ($5,859,676) Building material and garden equipment and supplies dealers (NAICS 444)

$226,871,458 $232,993,404 ($6,121,945)

Grocery stores (NAICS 4451) $372,096,421 $290,348,186 $81,748,236 Specialty food stores (NAICS 4452) $13,217,225 $3,816,419 $9,400,806 Beer, wine, and liquor stores (NAICS 4453) $30,108,451 $15,484,899 $14,623,552 Pharmacies and drug stores (NAICS 44611) $166,177,188 $112,297,896 $53,879,292 Cosmetics, beauty supplies, and perfume stores (NAICS 44612)

$12,700,045 $6,173,525 $6,526,519

Optical goods stores (NAICS 44613) $7,040,380 $16,670,703 ($9,630,323) Clothing and clothing accessories stores (NAICS 448)

$139,374,105 $66,086,017 $73,288,088

Sporting goods, hobby, musical instrument, and book stores (NAICS 451)

$39,507,606 $49,159,480 ($9,651,873)

Department stores (NAICS 4522) $82,251,946 $34,632,006 $47,619,940 Warehouse clubs and supercenters (NAICS 452311)

$267,866,833 $241,819,325 $26,047,508

All other general merchandise stores (NAICS 452319)

$47,496,420 $50,483,719 ($2,987,298)

Full-service restaurants (NAICS 722511) $162,529,857 $172,719,502 ($10,189,645) Limited-service restaurants (NAICS 722513) $134,727,435 $61,305,579 $73,421,856

The 2018 Demand data are sourced from the Consumer Expenditure Survey that is conducted by the U.S. Bureau of Labor Statistics. The 2018 Supply data are sourced from the Census of Retail Trade. Additional sources are incorporated by Environics to create both supply and demand estimates. The difference between demand and supply is the opportunity gap or surplus available for each merchandise line in the Cape Coral city boundaries. When the difference is positive, demand is greater than supply and there is an opportunity to recruit a store or business for that category. An example of an opportunity gap is the Warehouse Clubs and Supercenters category. Residents of Cape Coral spend $267.9 million at stores in this category, such as Walmart and Sam’s Club. The census reported sales in this category is $241.8 million. Demand being greater than supply means that $26.1 million is being spent by Cape Coral residents at Warehouse Clubs and Supercenters in Fort Myers, such as Costco. Where the difference between demand and supply is negative, supply is greater than demand and there is an opportunity surplus. The opportunity is to differentiate the market by introducing a new-to-market store.



An example is the Full-Service Restaurants category. The supply or retail sales of $172.7 million exceeds demand or consumer spending of $162.5 million by $10.2 million. Cape Coral restaurants are a draw for daytime workers, overnight guests and daily visitors that are spending about $10.2 million in the market. This presents an opportunity to introduce a new-to-market restaurant, such as BJ’s Restaurant and Brewhouse and World Beer.



APPENDIX

Cape Coral Retail, F&B5/23/2019

PREPARED BY:

4424 Hallcliffe RdLincoln, NE 68516

Hoffman Strategy Group

Jerry HoffmanPartner

(402) 560-0722 (phone)[email protected]

Retail Tenant Frequency Report

1 Wok 1 1,440 SF 107,200 107,200 107,200 $45,618 $45,618 $45,61832,137 32,137 32,137 68,280 SF

A & J Pak-Ship 1 1,200 SF 111,858 111,858 111,858 $57,811 $57,811 $57,81127,069 27,069 27,069 66,744 SF

Aaron's (US) 1 3,000 SF 173,076 173,076 173,076 $50,198 $50,198 $50,19872,176 72,176 72,176 80,196 SF

Ace Hardware 2 9,062 SF 140,909 161,723 182,537 $55,226 $55,721 $56,21537,115 53,973 70,832 59,701 SF

Achieva Credit Union 2 1,893 SF 111,858 144,497 177,135 $49,681 $53,746 $57,81127,069 54,660 82,252 95,926 SF

Action Glass 1 5,000 SF 133,400 133,400 133,400 $51,027 $51,027 $51,02741,590 41,590 41,590 34,000 SF

Air Techniques Heating And Cooling 1 5,000 SF 133,400 133,400 133,400 $51,027 $51,027 $51,02741,590 41,590 41,590 34,000 SF

ALDI (US) 1 18,040 SF 137,832 137,832 137,832 $47,491 $47,491 $47,49150,193 50,193 50,193 111,967 SF

AMC Theatres 1 54,805 SF 132,752 132,752 132,752 $43,164 $43,164 $43,16449,720 49,720 49,720 173,814 SF

Anytime Fitness (US) 1 5,801 SF 107,519 107,519 107,519 $58,998 $58,998 $58,99821,655 21,655 21,655 180,418 SF

Applebee's 1 5,132 SF 127,884 127,884 127,884 $42,517 $42,517 $42,51747,068 47,068 47,068 5,132 SF

Aspen Dental 1 3,023 SF 144,133 144,133 144,133 $56,026 $56,026 $56,02637,447 37,447 37,447 6,928 SF

AT&T Wireless 3 4,135 SF 140,005 152,671 177,135 $47,456 $51,110 $56,19237,035 57,356 82,252 93,402 SF

AutoZone 1 6,975 SF 134,723 134,723 134,723 $53,979 $53,979 $53,97938,773 38,773 38,773 6,975 SF

Bank of America 1 4,956 SF 175,677 175,677 175,677 $49,797 $49,797 $49,79780,352 80,352 80,352 4,956 SF

Batteries Plus Bulbs 1 1,300 SF 138,492 138,492 138,492 $56,200 $56,200 $56,20035,783 35,783 35,783 46,885 SF

BB&T 1 3,500 SF 186,458 186,458 186,458 $51,109 $51,109 $51,10982,652 82,652 82,652 4,204 SF

Bealls 1 41,188 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Bealls Outlet 2 27,000 SF 132,752 159,668 186,584 $43,164 $46,879 $50,59349,720 67,932 86,145 126,590 SF

Store Name# of

StoresAverageStore GLA

5 Mile - 2019 PopulationLow Avg High Low Avg High

AverageProperty Size

5 Mile - Daytime EmployeesLow Avg High

5 Mile - Med HH Income

Copyrighted report licensed to Hoffman Strategy Group - 753099.5/23/2019

Page 2

Bed Bath & Beyond (US) 1 27,987 SF 137,832 137,832 137,832 $47,491 $47,491 $47,49150,193 50,193 50,193 111,967 SF

Beef 'O' Brady's 2 2,700 SF 78,309 92,755 107,200 $45,618 $52,736 $59,85315,617 23,877 32,137 68,459 SF

Belk 1 67,576 SF 107,519 107,519 107,519 $58,998 $58,998 $58,99821,655 21,655 21,655 180,418 SF

Bonefish Grill 1 6,200 SF 138,492 138,492 138,492 $56,200 $56,200 $56,20035,783 35,783 35,783 46,885 SF

Bravo Supermarket 1 18,500 SF 135,203 135,203 135,203 $54,011 $54,011 $54,01139,029 39,029 39,029 50,000 SF

Brightway Insurance 1 900 SF 138,492 138,492 138,492 $56,200 $56,200 $56,20035,783 35,783 35,783 46,885 SF

Brow and Lash 1 669 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Bruce Todd Salon 1 2,000 SF 143,970 143,970 143,970 $55,787 $55,787 $55,78738,072 38,072 38,072 87,917 SF

Bruce Todd Salon 1 1,875 SF 140,909 140,909 140,909 $56,215 $56,215 $56,21537,115 37,115 37,115 37,374 SF

Buffalo Wild Wings (US) 1 4,899 SF 143,923 143,923 143,923 $56,048 $56,048 $56,04837,083 37,083 37,083 4,899 SF

Burlington 1 40,228 SF 141,363 141,363 141,363 $47,691 $47,691 $47,69152,637 52,637 52,637 72,644 SF

BuysPro 1 3,000 SF 133,400 133,400 133,400 $51,027 $51,027 $51,02741,590 41,590 41,590 34,000 SF

Campos And Sons, Inc. 1 5,000 SF 133,400 133,400 133,400 $51,027 $51,027 $51,02741,590 41,590 41,590 34,000 SF

Cape Liquors 1 1,200 SF 111,858 111,858 111,858 $57,811 $57,811 $57,81127,069 27,069 27,069 66,744 SF

Cape Realty 1 2,000 SF 111,858 111,858 111,858 $57,811 $57,811 $57,81127,069 27,069 27,069 66,744 SF

Carried Away 1 1,000 SF 111,858 111,858 111,858 $57,811 $57,811 $57,81127,069 27,069 27,069 66,744 SF

Chick-fil-A 1 3,500 SF 138,715 138,715 138,715 $47,922 $47,922 $47,92252,131 52,131 52,131 3,500 SF

Chili's 1 4,900 SF 140,424 140,424 140,424 $48,113 $48,113 $48,11352,264 52,264 52,264 4,900 SF

China Garden 1 1,000 SF 111,858 111,858 111,858 $57,811 $57,811 $57,81127,069 27,069 27,069 66,744 SF

Chipotle (US) 1 2,250 SF 186,876 186,876 186,876 $50,983 $50,983 $50,98382,859 82,859 82,859 6,038 SF

Store Name# of







Page 3

Cicis 1 4,200 SF 173,076 173,076 173,076 $50,198 $50,198 $50,19872,176 72,176 72,176 80,196 SF

Cold Stone Creamery 1 1,340 SF 159,053 159,053 159,053 $55,503 $55,503 $55,50345,892 45,892 45,892 9,380 SF

Coldwell Banker 1 3,100 SF 177,135 177,135 177,135 $49,681 $49,681 $49,68182,252 82,252 82,252 125,108 SF

Creighton Construction &Development

1 2,600 SF 138,492 138,492 138,492 $56,200 $56,200 $56,20035,783 35,783 35,783 46,885 SF

Cricket 1 2,200 SF 187,593 187,593 187,593 $50,816 $50,816 $50,81682,547 82,547 82,547 34,832 SF

CVS 1 11,000 SF 142,252 142,252 142,252 $47,486 $47,486 $47,48653,317 53,317 53,317 197,353 SF

Dante's Coal Fired Pizza 1 3,000 SF 138,492 138,492 138,492 $56,200 $56,200 $56,20035,783 35,783 35,783 46,885 SF

Diamonds By Dianne 1 2,500 SF 187,593 187,593 187,593 $50,816 $50,816 $50,81682,547 82,547 82,547 34,832 SF

Direct Flooring 1 7,068 SF 141,363 141,363 141,363 $47,691 $47,691 $47,69152,637 52,637 52,637 72,644 SF

Ditto Consignments 1 1,750 SF 79,305 79,305 79,305 $44,817 $44,817 $44,81718,360 18,360 18,360 44,305 SF

Dollar General 2 12,411 SF 132,752 160,173 187,593 $43,164 $46,990 $50,81649,720 66,133 82,547 104,323 SF

Dollar Tree (US) 3 8,960 SF 105,580 140,833 177,135 $49,681 $55,008 $59,07821,324 46,807 82,252 77,597 SF

Dressbarn 1 7,500 SF 139,783 139,783 139,783 $56,265 $56,265 $56,26536,845 36,845 36,845 71,444 SF

Dunkin' Donuts (US) 2 1,970 SF 133,033 146,375 159,717 $43,592 $49,524 $55,45545,906 48,585 51,265 5,940 SF

Edible Arrangements 2 1,607 SF 132,752 161,024 189,296 $43,164 $46,482 $49,80049,720 69,123 88,526 226,246 SF

Educators Music 1 3,700 SF 135,203 135,203 135,203 $54,011 $54,011 $54,01139,029 39,029 39,029 50,000 SF

Edward Jones 1 1,200 SF 79,305 79,305 79,305 $44,817 $44,817 $44,81718,360 18,360 18,360 44,305 SF

Elite Nails 1 1,442 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Enchanted Florist Of Cape Coral 1 1,200 SF 111,858 111,858 111,858 $57,811 $57,811 $57,81127,069 27,069 27,069 66,744 SF

Experience Real Estate Group, LLC 1 3,500 SF 138,492 138,492 138,492 $56,200 $56,200 $56,20035,783 35,783 35,783 46,885 SF

Store Name# of







Page 4

Famous Footwear 1 7,500 SF 139,783 139,783 139,783 $56,265 $56,265 $56,26536,845 36,845 36,845 71,444 SF

Fantastic Sams (US) 2 3,170 SF 140,874 150,237 159,600 $55,477 $55,835 $56,19237,035 41,538 46,042 79,445 SF

Fidelity National Title of Florida 1 3,300 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Fifth Third Bank 1 3,000 SF 138,515 138,515 138,515 $48,058 $48,058 $48,05851,883 51,883 51,883 6,279 SF

First Choice HairCutters 1 1,200 SF 111,858 111,858 111,858 $57,811 $57,811 $57,81127,069 27,069 27,069 66,744 SF

five BELoW 1 8,630 SF 137,832 137,832 137,832 $47,491 $47,491 $47,49150,193 50,193 50,193 111,967 SF

Five Guys (US) 1 2,500 SF 140,005 140,005 140,005 $47,456 $47,456 $47,45652,783 52,783 52,783 10,100 SF

Forcon Precision 1 6,000 SF 133,400 133,400 133,400 $51,027 $51,027 $51,02741,590 41,590 41,590 34,000 SF

Fortress Ventures 1 871 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Friendly Frankie's Liquor 3 1,531 SF 107,200 136,008 156,855 $45,618 $52,316 $55,78732,137 38,459 45,168 73,927 SF

GameStop 2 1,752 SF 106,144 141,640 177,135 $49,681 $54,307 $58,93221,535 51,893 82,252 67,963 SF

Geraci Travel 1 1,200 SF 111,858 111,858 111,858 $57,811 $57,811 $57,81127,069 27,069 27,069 66,744 SF

Ginger Bistro 1 4,510 SF 105,580 105,580 105,580 $59,078 $59,078 $59,07821,324 21,324 21,324 36,241 SF

GNC (US) 4 1,463 SF 111,858 150,495 189,296 $49,800 $54,736 $57,81127,069 49,708 88,526 124,731 SF

Good Deals Appliances 1 4,960 SF 141,363 141,363 141,363 $47,691 $47,691 $47,69152,637 52,637 52,637 72,644 SF

Goodwill (US) 1 16,500 SF 139,542 139,542 139,542 $46,693 $46,693 $46,69353,407 53,407 53,407 58,500 SF

Great Clips 5 1,225 SF 78,309 146,540 182,187 $47,456 $53,564 $59,85315,617 53,432 82,252 45,089 SF

Great Expressions Dental Ctr 1 1,200 SF 111,858 111,858 111,858 $57,811 $57,811 $57,81127,069 27,069 27,069 66,744 SF

H&R Block (US) 4 1,297 SF 105,592 147,959 183,220 $55,283 $56,408 $59,05921,322 45,407 76,342 40,190 SF

Hair Cuttery 3 1,280 SF 105,592 106,128 107,200 $45,618 $54,579 $59,05921,322 24,927 32,137 30,445 SF

Store Name# of







Page 5

Hallmark (US) 1 4,327 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Heavenly Pizza Inc 1 1,500 SF 132,752 132,752 132,752 $43,164 $43,164 $43,16449,720 49,720 49,720 173,814 SF

HomeGoods 1 48,367 SF 186,584 186,584 186,584 $50,593 $50,593 $50,59386,145 86,145 86,145 79,367 SF

House 2 Home Goods 1 2,000 SF 107,519 107,519 107,519 $58,998 $58,998 $58,99821,655 21,655 21,655 180,418 SF

House Of Omelets Inc 1 3,000 SF 138,492 138,492 138,492 $56,200 $56,200 $56,20035,783 35,783 35,783 46,885 SF

Ideal Accounting Solutions 1 1,200 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Internal Medicine Associates 1 7,000 SF 79,305 79,305 79,305 $44,817 $44,817 $44,81718,360 18,360 18,360 44,305 SF

Jackpot Island Internet Cafe/Gambling House

1 3,900 SF 138,492 138,492 138,492 $56,200 $56,200 $56,20035,783 35,783 35,783 46,885 SF

Jason's Deli 1 4,510 SF 159,600 159,600 159,600 $55,477 $55,477 $55,47746,042 46,042 46,042 13,890 SF

JCPenney 1 50,440 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Jet's Pizza 1 1,200 SF 143,970 143,970 143,970 $55,787 $55,787 $55,78738,072 38,072 38,072 87,917 SF

Jo-Ann Fabric and Craft Stores 1 16,000 SF 132,752 132,752 132,752 $43,164 $43,164 $43,16449,720 49,720 49,720 173,814 SF

Joe Daddy's Pizza 1 1,440 SF 107,200 107,200 107,200 $45,618 $45,618 $45,61832,137 32,137 32,137 68,280 SF

JP Sports Collectibles 1 1,700 SF 187,593 187,593 187,593 $50,816 $50,816 $50,81682,547 82,547 82,547 34,832 SF

Just Add Muscle, Inc. 1 1,400 SF 138,492 138,492 138,492 $56,200 $56,200 $56,20035,783 35,783 35,783 46,885 SF

Kathryn's Day Spa 1 1,300 SF 138,492 138,492 138,492 $56,200 $56,200 $56,20035,783 35,783 35,783 46,885 SF

Kay Jewelers 1 1,900 SF 140,005 140,005 140,005 $47,456 $47,456 $47,45652,783 52,783 52,783 10,100 SF

Keke's Breakfast Cafe 1 5,800 SF 137,832 137,832 137,832 $47,491 $47,491 $47,49150,193 50,193 50,193 111,967 SF

Kohl's 1 89,135 SF 140,874 140,874 140,874 $56,192 $56,192 $56,19237,035 37,035 37,035 145,000 SF

LA Fitness 1 44,860 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Store Name# of







Page 6

La France Dry Cleaners & Alterations 1 1,080 SF 107,200 107,200 107,200 $45,618 $45,618 $45,61832,137 32,137 32,137 68,280 SF

La France Dry Cleaners & Alterations 1 1,000 SF 143,970 143,970 143,970 $55,787 $55,787 $55,78738,072 38,072 38,072 87,917 SF

Lenny's Grill and Subs 1 2,161 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Leslie's 1 3,000 SF 138,492 138,492 138,492 $56,200 $56,200 $56,20035,783 35,783 35,783 46,885 SF

Liberty Tax Service 1 1,200 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Lion King Chinese Restaurant 1 1,200 SF 138,098 138,098 138,098 $48,068 $48,068 $48,06849,654 49,654 49,654 21,454 SF

Mangia Bene Ristorante Italiano 1 1,595 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Marathon 1 3,500 SF 111,712 111,712 111,712 $45,948 $45,948 $45,94832,433 32,433 32,433 4,474 SF

Marco's Pizza 1 1,250 SF 140,909 140,909 140,909 $56,215 $56,215 $56,21537,115 37,115 37,115 37,374 SF

Marquee Cinemas 1 32,041 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Martial Arts University 1 4,600 SF 135,203 135,203 135,203 $54,011 $54,011 $54,01139,029 39,029 39,029 50,000 SF

Massage Envy 1 2,980 SF 159,717 159,717 159,717 $55,455 $55,455 $55,45545,906 45,906 45,906 9,380 SF

Massage LuXe 1 3,076 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Mathnasium Learning Center 1 1,340 SF 160,823 160,823 160,823 $55,319 $55,319 $55,31945,556 45,556 45,556 9,380 SF

Mattress Firm 3 4,446 SF 137,832 139,992 142,105 $47,491 $50,442 $56,15536,523 46,284 52,138 70,611 SF

McDonald's (US) 2 5,584 SF 105,339 119,412 133,485 $43,436 $44,598 $45,75931,546 41,580 51,614 3,449 SF

MedExpress Urgent Care 1 3,619 SF 143,936 143,936 143,936 $56,067 $56,067 $56,06737,214 37,214 37,214 3,619 SF

Menchie`s (US) 1 1,391 SF 140,040 140,040 140,040 $47,681 $47,681 $47,68152,138 52,138 52,138 19,868 SF

Metro by T-Mobile 1 1,440 SF 107,200 107,200 107,200 $45,618 $45,618 $45,61832,137 32,137 32,137 68,280 SF

Michaels (US) 1 21,175 SF 137,832 137,832 137,832 $47,491 $47,491 $47,49150,193 50,193 50,193 111,967 SF

Store Name# of







Page 7

Miracle-Ear 1 1,127 SF 182,187 182,187 182,187 $55,234 $55,234 $55,23472,280 72,280 72,280 11,802 SF

Moe's Southwest Grill 1 2,597 SF 177,135 177,135 177,135 $49,681 $49,681 $49,68182,252 82,252 82,252 125,108 SF

Mother Earth Natural Foods 1 2,004 SF 177,135 177,135 177,135 $49,681 $49,681 $49,68182,252 82,252 82,252 125,108 SF

Murphy USA 1 1,000 SF 175,372 175,372 175,372 $49,776 $49,776 $49,77679,426 79,426 79,426 2,463 SF

Nail Art III 1 1,000 SF 111,858 111,858 111,858 $57,811 $57,811 $57,81127,069 27,069 27,069 66,744 SF

Nails Art Co 1 1,440 SF 107,200 107,200 107,200 $45,618 $45,618 $45,61832,137 32,137 32,137 68,280 SF

Naples Vapor 1 900 SF 132,752 132,752 132,752 $43,164 $43,164 $43,16449,720 49,720 49,720 173,814 SF

Neff Studio Salon 1 2,880 SF 107,200 107,200 107,200 $45,618 $45,618 $45,61832,137 32,137 32,137 68,280 SF

NHN Realty LLC 1 1,152 SF 79,305 79,305 79,305 $44,817 $44,817 $44,81718,360 18,360 18,360 44,305 SF

OfficeMax 1 25,036 SF 139,783 139,783 139,783 $56,265 $56,265 $56,26536,845 36,845 36,845 71,444 SF

Olive Garden 1 6,670 SF 137,779 137,779 137,779 $47,152 $47,152 $47,15252,913 52,913 52,913 6,670 SF

OneMain Financial 1 2,000 SF 138,098 138,098 138,098 $48,068 $48,068 $48,06849,654 49,654 49,654 21,454 SF

Orangetheory Fitness (US) 1 2,680 SF 159,600 159,600 159,600 $55,477 $55,477 $55,47746,042 46,042 46,042 13,890 SF

PakMail 1 1,920 SF 138,098 138,098 138,098 $48,068 $48,068 $48,06849,654 49,654 49,654 21,454 SF

Palace Pub & Wine Bar 1 2,850 SF 183,220 183,220 183,220 $55,283 $55,283 $55,28376,342 76,342 76,342 51,936 SF

Panera Bread (US) 2 4,266 SF 140,040 160,751 181,461 $47,681 $51,516 $55,35152,138 61,221 70,304 11,934 SF

Papa John's 1 1,200 SF 111,858 111,858 111,858 $57,811 $57,811 $57,81127,069 27,069 27,069 66,744 SF

Party City 1 5,542 SF 173,076 173,076 173,076 $50,198 $50,198 $50,19872,176 72,176 72,176 80,196 SF

PetSmart 1 20,301 SF 137,832 137,832 137,832 $47,491 $47,491 $47,49150,193 50,193 50,193 111,967 SF

Pinch-A-Penny 1 1,950 SF 111,858 111,858 111,858 $57,811 $57,811 $57,81127,069 27,069 27,069 66,744 SF

Store Name# of







Page 8

Pirate Treasure Arcade 1 1,750 SF 79,305 79,305 79,305 $44,817 $44,817 $44,81718,360 18,360 18,360 44,305 SF

Pizza Hut (US) 2 1,470 SF 138,098 148,576 159,053 $48,068 $51,786 $55,50345,892 47,773 49,654 15,417 SF

Planet Fitness 2 22,464 SF 132,752 152,914 173,076 $43,164 $46,681 $50,19849,720 60,948 72,176 127,005 SF

Popeyes (US) 1 2,314 SF 133,201 133,201 133,201 $43,379 $43,379 $43,37951,428 51,428 51,428 2,036 SF

Publix 7 51,169 SF 78,309 130,390 177,135 $45,618 $53,211 $59,85315,617 41,360 82,252 77,458 SF

Quest Diagnostics 1 2,166 SF 182,187 182,187 182,187 $55,234 $55,234 $55,23472,280 72,280 72,280 11,802 SF

Regions Bank 1 3,000 SF 182,186 182,186 182,186 $50,550 $50,550 $50,55080,812 80,812 80,812 5,586 SF

Reisgo 1 2,625 SF 140,909 140,909 140,909 $56,215 $56,215 $56,21537,115 37,115 37,115 37,374 SF

Riverchase Dermatology 1 3,000 SF 105,580 105,580 105,580 $59,078 $59,078 $59,07821,324 21,324 21,324 36,241 SF

Robin's Grooming 1 1,400 SF 133,400 133,400 133,400 $51,027 $51,027 $51,02741,590 41,590 41,590 34,000 SF

Ross Dress For Less 1 32,359 SF 177,135 177,135 177,135 $49,681 $49,681 $49,68182,252 82,252 82,252 125,108 SF

Ruby Tuesday 2 4,727 SF 136,489 146,020 155,551 $47,158 $51,377 $55,59644,399 47,998 51,598 4,727 SF

Sally Beauty (US) 2 3,844 SF 140,874 165,085 189,296 $49,800 $52,996 $56,19237,035 62,780 88,526 211,839 SF

Salon Santinas 1 1,451 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Sam's Club 1 151,227 SF 142,569 142,569 142,569 $56,072 $56,072 $56,07236,895 36,895 36,895 151,227 SF

Screens Plus 1 4,000 SF 133,400 133,400 133,400 $51,027 $51,027 $51,02741,590 41,590 41,590 34,000 SF

Shell 1 2,500 SF 187,142 187,142 187,142 $51,044 $51,044 $51,04482,539 82,539 82,539 5,819 SF

Smile Design Dentistry 1 1,440 SF 107,200 107,200 107,200 $45,618 $45,618 $45,61832,137 32,137 32,137 68,280 SF

South West Veterinary Care Center 1 1,200 SF 111,858 111,858 111,858 $57,811 $57,811 $57,81127,069 27,069 27,069 66,744 SF

Sport Clips (US) 2 1,148 SF 140,040 164,668 189,296 $47,681 $48,741 $49,80052,138 70,332 88,526 149,273 SF

Store Name# of







Page 9

Sprint Store 3 2,514 SF 143,970 158,723 177,135 $49,681 $53,688 $55,78738,072 54,851 82,252 74,275 SF

Staples (US) 1 20,347 SF 177,135 177,135 177,135 $49,681 $49,681 $49,68182,252 82,252 82,252 125,108 SF

Starbucks (US) 3 2,225 SF 107,234 145,454 186,876 $47,486 $52,460 $58,91121,746 52,640 82,859 69,450 SF

State Farm 2 1,607 SF 132,752 135,622 138,492 $43,164 $49,682 $56,20035,783 42,751 49,720 110,349 SF

Steak n Shake 1 5,300 SF 138,490 138,490 138,490 $48,348 $48,348 $48,34850,152 50,152 50,152 5,300 SF

Studio Nails 1 1,858 SF 177,135 177,135 177,135 $49,681 $49,681 $49,68182,252 82,252 82,252 125,108 SF

Subway (US) 7 1,313 SF 78,309 123,855 155,065 $43,164 $52,189 $59,85315,617 36,719 50,193 83,880 SF

SunTrust Bank 2 8,380 SF 134,096 160,105 186,113 $43,006 $47,008 $51,00950,793 66,465 82,137 6,940 SF

Supercuts (US) 1 1,500 SF 138,098 138,098 138,098 $48,068 $48,068 $48,06849,654 49,654 49,654 21,454 SF

Swarovski (US) 1 1,000 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

Sylwia Ice Cream 1 1,750 SF 79,305 79,305 79,305 $44,817 $44,817 $44,81718,360 18,360 18,360 44,305 SF

T.J. Maxx 1 30,500 SF 173,076 173,076 173,076 $50,198 $50,198 $50,19872,176 72,176 72,176 80,196 SF

Target 2 156,554 SF 142,252 149,503 156,753 $47,486 $51,525 $55,56344,761 49,039 53,317 160,034 SF

TD AMERITRADE 1 1,391 SF 140,040 140,040 140,040 $47,681 $47,681 $47,68152,138 52,138 52,138 19,868 SF

Ted Todd Agency Inc 1 1,440 SF 107,200 107,200 107,200 $45,618 $45,618 $45,61832,137 32,137 32,137 68,280 SF

Teriyaki Madness 1 1,340 SF 160,823 160,823 160,823 $55,319 $55,319 $55,31945,556 45,556 45,556 9,380 SF

The Cafe Restauramt 1 2,275 SF 189,296 189,296 189,296 $49,800 $49,800 $49,80088,526 88,526 88,526 278,679 SF

The Check Cashing Store 1 1,397 SF 143,970 143,970 143,970 $55,787 $55,787 $55,78738,072 38,072 38,072 87,917 SF

The Home Depot (US) 1 159,061 SF 130,826 130,826 130,826 $43,907 $43,907 $43,90750,043 50,043 50,043 159,061 SF

The UPS Store (US) 1 1,200 SF 183,220 183,220 183,220 $55,283 $55,283 $55,28376,342 76,342 76,342 51,936 SF

Store Name# of







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T-Mobile 4 1,544 SF 132,752 156,117 186,876 $43,164 $51,383 $56,06637,214 53,837 82,859 49,296 SF

Trek Bicycle 1 3,900 SF 138,492 138,492 138,492 $56,200 $56,200 $56,20035,783 35,783 35,783 46,885 SF

Tropical Smoothie Cafe 1 1,600 SF 138,098 138,098 138,098 $48,068 $48,068 $48,06849,654 49,654 49,654 21,454 SF

uBreakiFix 1 1,340 SF 159,717 159,717 159,717 $55,455 $55,455 $55,45545,906 45,906 45,906 9,380 SF

ULTA 1 10,000 SF 186,584 186,584 186,584 $50,593 $50,593 $50,59386,145 86,145 86,145 79,367 SF

Unico Nails Salon & Spa LLC 1 1,750 SF 79,305 79,305 79,305 $44,817 $44,817 $44,81718,360 18,360 18,360 44,305 SF

United States Postal Service 1 159,717 159,717 159,717 $55,455 $55,455 $55,45545,906 45,906 45,906 9,380 SF

Verizon Wireless 1 4,000 SF 137,699 137,699 137,699 $47,801 $47,801 $47,80151,837 51,837 51,837 4,000 SF

Versa Dock 1 4,600 SF 133,400 133,400 133,400 $51,027 $51,027 $51,02741,590 41,590 41,590 34,000 SF

VIP Nails & Spa 1 1,400 SF 137,832 137,832 137,832 $47,491 $47,491 $47,49150,193 50,193 50,193 111,967 SF

Walmart (US) 1 237,520 SF 177,424 177,424 177,424 $48,972 $48,972 $48,97284,475 84,475 84,475 237,520 SF

Walmart Neighborhood Market 2 41,082 SF 139,542 140,208 140,874 $46,693 $51,443 $56,19237,035 45,221 53,407 101,750 SF

Wells Fargo Bank (US) 2 5,071 SF 133,128 160,012 186,896 $43,670 $47,363 $51,05651,233 66,823 82,413 4,885 SF

West Marine 1 10,000 SF 182,537 182,537 182,537 $55,226 $55,226 $55,22670,832 70,832 70,832 82,028 SF

Winn-Dixie 2 45,333 SF 181,461 181,999 182,537 $55,226 $55,289 $55,35170,304 70,568 70,832 43,014 SF

Xfinity Store 1 4,000 SF 144,021 144,021 144,021 $56,118 $56,118 $56,11837,185 37,185 37,185 5,500 SF

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City Cape Coral, FL

Center Type Power, Regional, Outlet, Lifestyle, Community, Super Regional, Theme/Festival, Neighborhood

Report Criteria


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retail market gap study - cape coral, florida study report_hoffman...retail market gap study hoffman...

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