DRAFT SCOPE OF WORK - Shopping Center Analysis

General work description: The City of Lake Forest is seeking a qualified firm to conduct an in-depth analysis of the City of Lake Forest’s (“City”) current shopping center inventory. The objective is to provide a comprehensive report detailing the challenges, opportunities, and strengths of the targeted shopping centers (“Centers”) and mixed-use sites (“Sites”) to evaluate existing retail market conditions and provide recommended strategies to successfully promote economic growth within the City. In addition, the firm shall recommend transition or re-tenant options based on shopper preferences and economic trends. This analysis will provide for current and future retail needs to ensure the continued economic health of the City. The City would like to better understand market trends and demands, best practices for fostering a diverse economic environment at the Centers and Sites, and customer preferences for commercial and restaurant tenants. The City intends to work closely with the professional firm to provide pertinent information and assist in identifying retail leakage, site opportunities, community/neighborhood strengths, key stakeholders, and business development opportunities.