Canaveral Port Authority Qualification of Market Potential and Implementation Strategy
C&S completed a qualification of market potential for commercial space in the Canaveral Port Authority’s Cruise Terminal 6 (CT-6) parking garage. The parking garage, under construction at the time of analysis, includes approximately 19,000 square feet of ground-floor commercial space along its eastern facade.
Port Canaveral is an active cruise, cargo and naval port on Florida’s Atlantic coast. The number of cruise passengers sailing from Port Canaveral has grown to more than 3 million annually prompting the port to add new terminals, additional parking facilities, such as CT-6, and supporting commercial space.
C&S’s assessment focused on qualifying general market potential for commercial uses found to have localized supporting demand in order to identify the mix and scale of appropriate uses for the subject space at CT-6.
In order to qualify market potential for the CT-6 parking garage commercial space, C&S conducted several research activities, including reviewing and analyzing cruise ship activity forecasts and consumptive spending trends for passengers and crew, as well as conducting stakeholder interviews and surveys.
Based on the completed research and findings, recommendations were made to the Port Authority outlining a mix of retail uses determined to have sufficient market support. These uses included a limited service restaurant, rental car offices and customer counters, and a crew/convenience store. Recommendations for an implementation strategy for the successful occupancy and operation of the CT-6 commercial space were also provided.