Northeast Ohio Regional Retail Analysis

SPATIAL SUPPLY/DEMAND CONDITIONS

There is a spatial mismatch between the location of proposed developments and the areas which are underserved. Many of the underserved areas have the traffic access, infrastructure and population densities to support additional retail but are bypassed in favor of more easily developable locations.
There is sales leakage from the central cities and many denser, older communities in the region, resulting in consumers having to travel significant distances out of their communities to purchase goods and services. There are substantial opportunities for balanced retail development in many areas of the region.
Overbuilding results in new retail space which competes with existing commercial districts for market share, often leading to lower rents, more marginal businesses, increased vacancies in older retail areas, and reduced property revenues for school districts and communities.
Without the benefit of public subsidies in proportion to the subsidies which go to new developments, older retail districts will find it more difficult to compete for market share and may experience private disinvestment.
The proliferation of national retailers in many retail categories threatens locally owned businesses which provide uniqueness and character to retail districts.