Synopsis:
Project Description: Proposed 170,000 sq ft. Indoor Sports Facility
Service Provided: Demographic Analysis, Gross Revenue Projections Market Study, Appraisal Valuation
Client Since: 2015
The Client
Private Business Lender
The Challenge
Determine the financial feasibility of constructing a ‘first in market’ Indoor Sports Facility with 170,000 sq ft. on a 20-acre site.
The Solution
Otteau Group provided demographic and advanced analysis of the sports and entertainment market to project facility usage and revenues. To create a context for these projections we investigated a wide range of successful redevelopment projects across the region. These findings were then applied to local economic, demographic, and geographic conditions to forecast revenues and the stabilized market value for the project.
The Result
Up and operating, this 170,000 sq ft. state-of-the-art indoor sports facility has been open since 2017. The facility features indoor turf fields and high-school regulation courts for sports such as soccer, baseball, field hockey, lacrosse, basketball, & futsal, locker room facilities, lounge area, arcade, and party rooms.