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• Surrounded by upscale neighborhoods that include Bellaire, West University, and Meyerland, with homes that range from $70,000 to $1,000,000.
• Within a five mile radius, population is around 365,000 people with the average household income around $48,000. There are an estimated 166,000 households which brings the trade area income to around $8 billion. Population is expected to grow to 422,000 by 1999 (EXHIBIT 2).
• In response to the questionnaires sent out, residents were looking for a more convenient shopping experience to meet their retailing need.
• Although the property has been neglected for a number of years, sales at the three existing stores remain strong due to the property location
Downside Protection: The total cost for Meyerland is $54...
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