A Commercial Real Estate Concept...
For Everyone?

Commercial Real Estate, like any other industry, has its trends. While we at Sites USA can't predict what the next “Big Thing” will be, we still like to know what's going on in order to give you the best tools and data possible in REGIS Online. We found three mixed-use developments at different stages of implementation to give you the best idea of what mixed-use can look like - and how data from REGIS Online can help you.

Building Commercial Real Estate For Today

The first community we found was right in our backyard! This mixed-use community in Gilbert, Arizona - called Agritopia - combines the local farmland with the modern living and retail experiences that people want. The shopping center in this area, Epicenter, has a host of local small businesses and some larger retailers, like Barre3. The restaurants in the area use the local farmland to provide “farm-to-table” meals for residents and visitors alike. With the addition of The Tyler - the apartment complex near the shops and restaurants of Agritopia - it's easy to know exactly who your audience is.

That audience is even easier to know with data from REGIS Online. Gilbert, Arizona has a population of 240,000, with most of the population in their late teens to early twenties. When we break it down to a 5-minute drive-time area in our 9-page demographic report, we see that 7.7% is in the 10-14 age range, and 7.4% is in the 15-19 age range. Of course, that population is mostly living with their families, who average about $103,000 per household. This area also scores the highest on our Geosocial Report in “Functional Fitness”, which has positive correlations towards gyms and fast food, but negative correlations with bars and chain restaurants. Epicenter totally fits this population's lifestyle, with locally-owned restaurants and fitness retailers. Clearly, someone did their research when developing!

Creating A Mixed-Use Community... Where?

While Agritopia is an established mixed-use community, another community focusing on mixed-use is ready to open in Lorton, Virginia. Once a rehabilitation prison, this site has been converted into a new social center for the small town. Just a quick walk away from the former guard block - now an apartment named The Quarters - is Liberty Market. This local center will have Lidl as its grocery store anchor, along with Ledo Pizzeria, Taco Rock, a space for a local brewery, and office and flex space in the B and C units.

Since Lorton, Virginia has a smaller population of about 20,000, the data here is really important. With a similar 5-minute drive-time area, the 9-page report shows about 8.6% of the population is in the 35-39 age range, and 8.2% in the 30-34 range. This population averages $152,000 per household, and scores highest on the Geosocial Report in our “Networking” category. This group has positive correlations with steakhouses, banks, and attorney's offices, but negative correlations towards Outdoors & Recreation, as well as antique stores. Liberty should have no problem filling their office and flex spaces, and might even switch that potential brewery to a steakhouse!

Renovating A Landmark Mall With Mixed-Use

Finally, we have Yorktown Center in Lombard, Illinois. Yorktown originally opened in 1968 as one of the first “mega-malls” in the country, with Carson Pirie Scott as the anchor. Over 50 years later, Carson's went out of business and left the mall, leaving a huge vacancy for them to fill. After a $25 Million dollar renovation to the rest of the mall - which added a food court and children's park along with other modern amenities - Yorktown just announced their next renovation plan, which includes adding multifamily and event space to their landmark mall.

Lombard, Illinois is just west of Chicago, with a population of 45,000. In a 5-mile drive time, our 9-page report reveals their largest age range is 50-54 with 7.2% of the population, and the next largest at 7.0% in the 30-34 age range. This population also averages about $127,000 per household, with a high Geosocial score in the “Men's Style” category. This category has positive correlations with shoe stores, Italian restaurants, and of course, men's clothing. This category does also have negative correlations with Outdoor & Recreation, and Mexican Restaurants, so we might see some shifting in Yorktown Center's retail offerings. Construction won't start until the spring of 2023 and isn't expected to be done for a few years, but we look forward to seeing how much impact this addition will have.

Comparing The Data With REGIS Online

REGIS Online is more than a mapping and demographics tool (although it is really good at that too!). Using our demographic data reports and geosocial data, we can gain an even better understanding of how good - or bad - our sites are. When we compare these cities in our new Data View it's clear that even though they are in totally different parts of the country with vastly different-sized populations, they still have trend lines in common. Data always has a story to tell, and we can't wait to see what story you find next! •

Last Modified Nov 14, 2022