Challenge
As part of NASA’s commitment to education and exploration, The Glenn Research Center investigated the opportunity to develop a local Aerospace Education Center (AEC). Deloitte Consulting was hired to conduct a sustainability analysis to understand and minimize the financial risk associated with the AEC. Allegro was engaged to provide the underlying real estate and site selection data to be used in the sustainability study.
Solution
Allegro conducted a local market analysis by proxy location. The process began by reviewing a long list of available Cleveland area properties, listed in various real estate databases, against a set of high level filters (location, size, and cost). Market tours were conducted to identify additional properties that were not listed in the databases. The qualitative results, combined with field evaluation, market knowledge, and additional due diligence, were used to select the short list finalists. Interviews with various property owners and market stakeholders were also conducted to further evaluate the market alternatives. This evaluation, due diligence, and short-listing of alternative properties in the market provided the baseline data for the proxy location models and also generated a list of finalist locations for consideration.
