by David S. Segal, MAI, Director, Valuation & Advisory
This is the second post in a four part series examining retail density in Northern California, Southern California, and the Five Boroughs of New York City.
As we would expect, the same trend we observed in Northern California is observed throughout the six Southern California counties surveyed. The amount of retail space is highly correlated with population, purchasing power (or household incomes), and number of households.
The per unit ranges are tighter in the Southern California counties than in the Bay Area counties. The Southern California counties are also larger, in geography and population.
INTERESTING THINGS TO NOTE:
- Total retail per capita ranges from 42 to 49 square feet per person. The best fit (from linear regression) indicates a relationship of 45 square feet of retail per person.
- The range based on purchasing power is 1,714 to 2,627 square feet per $1 million of purchasing power. The best fit (from linear regression) indicates a relationship of 2,157 square feet per $1 million.
- The amount of retail per household ranges from 126 to 155 square feet per household. The best fit (from linear regression) indicates a relationship of 139 square feet per household.
Up Next: Retail Density in New York City’s Five Boroughs
David Segal, MAI, is a Director in Cushman & Wakefield’s Valuation & Advisory group. He specializes in the valuation of all retail properties, which include malls, power centers, and both anchored and unanchored shopping centers