Every investor has its own unique criteria for selecting a project or acquisition. Such criteria, or limitations including financial, geographical, experience, willingness to take risk, and familiarity or comfort with the real estate development process are incorporated into our evaluation of a prospective development. The Legaspi Company is experienced in conducting marketing research that will provide the investor(s) with raw data as well as our own suggestions and recommendations concerning the feasibility of a particular project or area. In areas, which are unfamiliar to the investor(s), we take extra measures to educate them and to make certain of their appreciation for and comfort with the area.
Area surveys to get a pulse on demand for commercial space and general development activity; demographic analysis; and rent and sales comparable studies are some of the devices used to gather information necessary for us to present our recommendations on whether or not to pursue a particular investment/development. We also have the expertise and the means to conduct primary research for test marketing, sampling, and other forms of investigative analysis of various characteristics of a certain trade area or consumer segment (see Consulting Services).
Perhaps most important in our ability to assess the prospects for success of a given site is our experience in leasing. Our knowledge of the leasing criteria of retailers and ability to evaluate a property from the perspective of a potential tenant provide us the tools to effectively measure the marketability of a site and the inherent potential value/return to an the investor. We firmly believe that the first and essential element of a successful development is to identify or create demand for a project before committing resources to it. Successful ideas are market driven.