Hogan Building -- Market Analysis

     Market forces and demographic information in and around the block where the Hogan Building is located are crucially important metrics to evaluate as part of the market analysis.  The following discusses some of those key metrics.  The information provided below is courtesy of Cityfeet.com and providers it deems reliable.

     Traffic in Area of Building: Traffic in the area of the building is an indicator of potential success for tenants who may locate in the building.  As such, it is an important analysis metric in determining the support for rent levels that will be necessary to ensure the success of a real estate project in this area.  Daytime and night populations can vary.

 

     Daytime Population: The total daytime population within one mile of 901 Houston Street is 49,961.  Of that, 46,228 people are considered "daytime work population."  This indicates that during the day, most people within one mile of this building are in the area for work or work-related purposes.  Work populations have been steadily growing in the area the past couple of years and appear to be outpacing the creation of new office facilities.  This may bode well for the prospect of leasing the basement, second and/or third floors as office space or retail space.  

Night Population: The Hogan Building is located just across the street from the Houston Street Bar & Patio, which features a rooftop patio.  Rick O'Shea's Pub is also across the street and on the corner is Bar 9, which features three separate floors of danceclub, nightclub and upstairs clubrooms. 

     The Hogan Building is also within easy walking distance of the Omni Hotel, Fort Worth Convention Center, dozens of restaurants, a variety of high-quality entertainment and attraction venues, and a myriad of shopping opportunities. 

     Conclusion: There is significant daytime and night traffic in the immediate vicinity of the Hogan Building.  It could serve as the right location for retail establishments or the certain ecclectic restaurant / bar tenants.  Such tenants would face stiff competition from surrounding, established businesses.  Boutique or specialized retail may be the best fit for the first floor of building as it would be highly visible and distinct from the more routine retail options in the surrounding area.

     This is a vibrant area just outside of Fort Worth's Central Business District.  The basement, second and third floors may perfect for a Home--Office Building set up for young and middle aged professionals who desire an urban lifestyle and wish to free from daily communtes.