competitive assets and key selling points for new businesses
Population and household growth within the market area
Diversified and growing employment base
Substantial public and private investment
Recent and ongoing residential construction
Year-round visitor market
Supportive, business-friendly local government
efforts to grow its commercial base are challenged by the
perception that as a small suburban market it cannot support
national soft good chains. Its key market
assets are not well
known. Additionally, Highway 99 is seen as
a rundown and unattractive corridor.
retail centers include Canby Market Center, downtown Canby,
Canby Square, Hi-Way Marketplace Canby, Sequoia
Commercial Center and Canby Place. Together these centers offer
720,000 square feet of retail space with a vacancy rate of 9
percent and an average lease rate of $16 per square foot.
Downtown Canby constitutes
30 percent of the City’s retail
supply (or 220,000 square feet) and has a vacancy rate of 7 percent.
The 103 businesses in downtown include a variety of types – services
(personal services, professional office/service and heath office/service)
make up 63 percent, restaurants constitute 10 percent, retail
goods are 8 percent and grocery/pharmacy are 7 percent.
Canby’s primary target consumer markets for new and existing
commercial space include residents, employees and visitors. The
Retail Market Area – the area from which the majority of
local Canby shoppers are likely to emanate – includes nearly
50,000 persons and 18,000 households. It is projected to add
2,000 persons and 840 households by 2016. Median income within
the market area is $55,700, which is above the national median
of $50,200. Providing another strong market for local retailers,
there are nearly 6,000 employees working with a two-mile radius
of the city center.
market is large and growing. The Clackamas County Fairgrounds
is the most significant draw, with several
large annual events bringing in 285,000 visitors in 2011.
Potential demand is
derived from two sources. The first, “existing
demand,” is demand for retail goods by current market area
households that is currently being met outside of the market
area. Existing demand is found by comparing retail supply (i.e.,
actual sales) to retail demand (i.e., the expected amount spent
by market area residents based on consumer expenditure patterns).
Sales leakage in the Canby Retail Market Area total $103.6 million,
which has the potential to support 450,000 square feet of store
The second source
of demand, “future demand,” is
based on projected household growth and spending patterns in
the market area through 2017. Within the Retail Market Area,
there is potential demand for 62,300 square feet of new store
space over the next five years. Combined with existing demand,
there is potential for 511,300 square feet of new or rehabbed
retail space in the Canby Market Area by 2017.
The share of space
that Canby can capture will depend on numerous factors, including
retail outreach efforts, the availability
of quality retail-ready space, the performance of competitive
shopping areas and the success of downtown’s revitalization
efforts to develop a variety of retail, service and entertainment
Target Business Mix
A successful business district in virtually any size community
requires a balance and mix of uses that includes retail shopping,
professional, financial and government services, entertainment,
restaurants and personal services. The emphasis needs to be on
businesses that serve the year round local market but also can
accommodate visitor needs as earlier identified. While grocery-anchored
shopping centers will meet the convenience needs of the marketplace,
historic down-towns have the opportunity to be a destination
for dining, entertainment and specialty shopping.