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Market Analysis with GIS for Commercial Real EstateA Student HandbookResourcesWebsite: Online Resources: STDB Learning Center – Find on or STDB Supportsupport@Business AnalystWorkflow 1. Exploratory analysis - starting point to get an overall glimpse of what is happening in a given market. Define an area by location and run reports Exercise 1. Find Location – 5080 Spectrum Drive, Addison, TX 75001Name Location- Spectrum Drive Add Drive time – 5 minute Reports, Standard ReportsSelect Area a. Choose your 5 minute drive time - Spectrum Driveb. Double Check that Spectrum Drive is the only Selected SiteGo to ReportsSelect Run ReportsSelect Esri ReportsAdd Reports a. Choose the following reports by checking the box to the left of the reportBusiness SummaryDemographic & Income ProfileMarket ProfileRetail MarketPlace ProfileTapestry SegmentationRun Reports a. Select view in one PDF before runningAdd report subtitle if desiredChoose Run AllView Reports – Open your reports individually or in your All-in-One PDF. Using the data from the reports, answer the questions below: From the reports created, answer the following:Is this area made up of more retail businesses or office using businesses? (Business Summary) _______________________________________________________By NAICS code, what are the 2 business types that make up the largest percentage in this area? (Business Summary) ______________________________________________________Is this area projected to grow between now and 2023, and if so, at what rate? (Demographic and Income Profile) _______________________________________________________ How does the growth in this area compare to the state and nation? _______________________________________________________What is the total population in this area? (Market Profile) ______________________________________________________What is the daytime population? How many workers? How may daytime residents? (Market Profile) _______________________________________________________Is this area made up of more blue collar or white collar workers? (Market Profile) _______________________________________________________What retail segment shows the greatest leakage from this area? (Retail MarketPlace Profile) ______________________________________________________What retail segment shows the greatest surplus? (Retail MarketPlace Profile) _______________________________________________________What is the top Tapestry Segment in this market? (Tapestry Segmentation Area Profile) _______________________________________________________List 3 interesting facts about this tapestry segment that describes the people who live there? (Tapestry Segmentation Area Profile) ______________________________________________________Group DiscussionWhat did we learn about this area from out exploratory analysis?Exercise 2. Define an area by selecting geographies and run a comparison report We work in Economic Development for the city of Nashville, TN and are competing with Charlotte, NC for a new solar panel manufacturing plant. The incentives and tax credits being offered by both cities are similar, as is access to highways and rail so we need to find other competitive advantages. The company has told us that they want to locate in a metro area with a population of over 1,000,000 that projects healthy growth and low unemployment. They have a need for a pool of STEM educated employees as well as plant workers.Select Geographies – Nashville, TN and Charlotte, NC Metropolitan Area (CBSA) –Select Nashville and CharlotteIf you see a prompt asking about combining these markets into one, answer no as we want to keep them separateReports, Comparison Reportsa. Select Areas to CompareNashvilleCharlotteSelect variables to use in comparison 2018 Total Population 2018-2023 Population: Annual Growth Rate2018 Manufacturing Employees2018 Prof/Scientific/Tech Services Employees2018 Unemployment RateView in Table (Open report)Based on the data, what would be our pitch to the manufacturing company selling them on the virtues of Nashville? __________________________________________________________________________________________________________________________Workflow 3. Define an area by drawing a polygon We are working with a multi-family developer who is looking at land in West Des Moines, Iowa and has asked us to get some preliminary market information. The market is defined by the parameters below: Draw Polygon -using parameters below I - 235 – Northern Boundary1st Street – Eastern BoundaryRailroad tracks – Southern BoundaryJordan Creek Parkway – Western Boundary2. Infographics – Rather than running standard reports, we are going to get information on this area through Infographics.Click on the market area to open the market “bubble” and select InfographicsNavigate to the Esri templates using the dropdown in the upper left-hand corner and find Tapestry ProfileOpen the Tapestry Profile From the Tapestry Infographic, answer the following questions:What is the top Tapestry Segment? ______________________________________Are the people in this area renters or home owners? _________________________Workflow 4. Creating a Color Coded Map Using Custom Variables We are searching for a site for a brewery/restaurant that we represent. They are currently looking in the Chicago area. In other markets, this brewery has done very well when positioned near a high percentage of DINKS. Find the zip code in the Chicago area that has the highest number of DINKS.Smart Map SearchWe need to use one of our resources from the Learning Center, titled Tapestry LifeMode Group Summary to help us identify the DINKS.Select Create Maps from Data then Color Coded Map. Create a custom variable that includes Adults in the three Tapestry Segments you found in the Spreadsheet that will most likely represent a young, hip DINKS market:In StyleMidlife ConstantsNeWest ResidentsWhich zip code in Chicago has the highest percentage of DINKS according to our research: __________________________________________________________Using the Business and Facilities Search, determine if there are existing breweries in that zip code? If so, what is the name?_________________________________Workflow 5. Creating a Smart Map We are a broker assisting our client in site selection for a Chicken Wing concept that is expanding into the Denver market. We have their top criteria, so we can narrow our search areas by using the Smart Map Search with the following criteria:2018 Median Household Income - $50,000+Median Age 25-45Index of people who have eaten at a Buffalo Wild Wings -105+Smart Map SearchSelect Create Maps from Data then on Smart Maps. From the list of variables, map:2018 Median Household Income2018 Median AgeIndex of people who have eaten at a Buffalo Wild WingsAdjust any of the variable ranges along the sliding toolbars to reflect your preferred analysis.As a reminder, our client has given us the following requirements:2018 Median Household Income- $50,000+Median Age 25-45Index of people who have eaten at a Buffalo Wild Wings -105+Can you see areas that have good potential and areas that may not have the demographics for which we are searching? __________________________What part of Denver would you be inclined to start your property search?_____________________________________________________________Workflow 6. Import Data and perform Suitability AnalysisAs a continuation of the case above, we will conduct a Suitability Analysis to narrow our results, so we can begin to focus on individual sites. We have identified 12 sites to show the client which are on the Wings N More spreadsheet located on the Resource page of the Learning Center.First, we need to import the spreadsheet:Go to Add Data and select Import FileImport Wings N More Competitor spreadsheetSave this layer as points onlyClear your mapImport Wings N More Prospective Sites spreadsheetCreate a 5 minute drivetime around each locationSelect Suitability AnalysisStart with features on the mapAdd data from the data browserMedian Household IncomeMedian AgeWent to Buffalo Wild Wings in the last 6 monthsAdd criteriaAdd point layer Add Wings N More CompetitorsNow manipulate the variables and weighting to meet the criteria below:25%- Median Household Income - $50,000+25% - Median Age – 25-4525% -Went to Buffalo Wild Wings in the last 6 months - Index 10525% - Competitive layerBased on the criteria and weighting we added, what is our number 1 site to consider: _________________________________________________________Our client indicated that they have done well in other areas being near a Subway or Jersey Mike’s. Using the Business and Facilities Search, search for Subway;Jersey Mike’s in the search window. Would this change our mind on the number one site to pursue? ________________Question and Answer time about Business Analyst:Mobile App DemonstrationOther STDB ToolsBusiness Lists 1. Produce a prospecting list on 441 Vine Street, Cincinnati, Oh 45202, by creating a .1-mile radius around the building and search for all businesses. What type of business is located in suite 2700? ______________________________________2. Produce a list of accounting firms in Dayton, OH and find the contact name and title for MRM Properties. __________________________________________________________________PictometryGenerate an aerial image of 5080 Spectrum Drive, Addison, TX. What is the date of the most recent image?__________________________________________RiskMeterGenerate a flood map of 5308 West Plano Parkway, Plano, TX. Approximately how far is this building from the closest flood risk? _________________________ ................
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