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Macarthur Center Norfolk, Virginia Highly Accessible Location in the Heart of Downtown Norfolk

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Macarthur Center Norfolk, Virginia Highly Accessible Location in the Heart of Downtown Norfolk MacArthur Center MacArthur Center Norfolk, Virginia Highly accessible location in the heart of downtown Norfolk Nearly two dozen unique-to-market NEWPORT NEWS, VA stores & restaurants NORFOLK, VA The best of a suburban center with a revitalized urban format VIRGINIA BEACH, VA A growing base of residents, office CHESAPEAKE, VA SUFFOLK, VA workers and visitors VIRGINIA NORTH CAROLINA 10 MILES MacArthur Center Norfolk, Virginia Unique-to-market stores include Nordstrom and Dillard’s flagship Super-regional center in downtown Norfolk Accessible by light rail In the commercial and cultural hub of Hampton Roads Property Description major roads I-264 and East City Hall center description Enclosed, three-level center Avenue anchors Nordstrom and Dillard’s total sf 1,000,000 key tenants Michael Kors, Apple, CPK, Texas de Brazil, Pottery Barn, Williams-Sonoma, White House Black Market, # of stores 140 J. Crew, Banana Republic, Sephora, Chico’s, Brighton Collectibles, Fossil, H&M, Loft, Lush, Johnston & # of parking 4,600 Murphy, Fink’s Jewelers and Regal Cinemas 18 THE CENTER THE MARKET STARWOOD MacArthur Center Redevelopment Highlights An exciting and dynamic mixed-use development that Norfolk residents and visitors can enjoy for years to come The new complex will include: • A better-tier, limited- service hotel • Approximately 175 multifamily residential units • Restaurants • Entertainment features • A pedestrian-friendly public square with art and community-oriented amenities THE CENTER THE MARKET STARWOOD MacArthur Center Norfolk ranked “America’s Favorite City” — Travel & Leisure, 2017 THE CENTER THE MARKET STARWOOD MacArthur Center Urban center with regional draw Booming downtown due to housing, retail and financial growth Strong tourism market 6,000 new Norfolk jobs recently announced City Style Easy access for 100,000+ vehicles 4M annual visitors to Norfolk, on I-264 loop spending $4.4B Center is primary driver of resident Visitors spend 50% more at center visits to downtown than residents 1,300+ new downtown residential units THE CENTER THE MARKET STARWOOD MacArthur Center THE CENTER THE MARKET STARWOOD MacArthur Center Millennials meet empty nesters in urban living Educated, affluent professionals New residential development within blocks of center Multiple universities and colleges nearby Young and Young at Heart 32% of residents are age 18 to 34 70% of employed residents hold white within 1 mile collar jobs and 25% of households earn $100,000+ within 1 mile 50,000+ work within 1 mile 5 colleges nearby with 58,000+ students THE CENTER THE MARKET STARWOOD MacArthur Center HAMPTON 26 MILES Distance to Competition I-64 Greenbrier Mall Driving – 10 mi, 13 min Lynnhaven Mall Driving – 15 mi, 21 min 13 Norfolk Premium Outlets Driving – 9 mi, 18 min Pembroke Mall Driving – 10 mi, 14 min Virginia Beach Town Tidewater Drive Center 31,000 AADT NORFOLK Driving – 10 mi, 13 min INT’L AIRPORT Brambleton Avenue Norfolk Premium Outlets 40,000 AADT MacArthur Center (Opening Spring 2017) Church Street 24,000 AADT Waterside Drive Pembroke Mall 29,000 AADT Virginia Beach Town Center PORTSMOUTH I-264 St. Pauls Blvd Legend 28,000 AADT Primary Trade Area Lynnhaven Mall Secondary Trade Area Interstate 264 107,000 AADT Competition Access Roads (AADT= annual average Greenbrier Mall daily traffic) 3 MILES CHESAPEAKE THE CENTER THE MARKET STARWOOD MacArthur Center NASA Langley Research Center Area Attractions (Hampton) Harbor Park 13 Scope Arena Huntington Ingalls Industries Nauticus Maritime Museum (Newport News) I-64 Hampton Roads Naval Museum Chrysler Hall Riverside Health (Newport News) Chrysler Museum of Art NORFOLK NORVA Theater INT’L AIRPORT Cruise Line Terminal Old Dominion University The Main Norfolk—new Hilton hotel and conference center Sentara Healthcare Children’s Hospital of the King’s Daughters USS Wisconsin Eastern Virginia Medical School MacArthur Center Local Colleges Tidewater Community College Norfolk State University Eastern Virginia Medical ADP School U.S. Department of Defense Tidewater Community I-264 College I-264 Old Dominion University Norfolk State University Norfolk Naval Shipyard Combined enrollment: 58,400 Legend I-64 Primary Trade Area Colleges Key Employers 3 MILES CHESAPEAKE THE CENTER THE MARKET STARWOOD MacArthur Center Demographics PTA1 STA2 TTA3 US Avg Population 2018 estimate 1,115,968 321,386 1,437,354 Large, densely populated 2023 projection 1,151,363 325,274 1,476,637 trade area of 1.4M people % growth 2018–2023 3.2% 1.2% 2.7% 3.5% Population White 57% 45% 54% 70% Highest household growth By Race Black 31% 44% 34% 13% is within 1 mile (12%, 2010- Asian 5% 3% 4% 6% 2023) Hispanic Ethnicity 7% 8% 7% 18% $384,200 median home Median Age 35 35 35 38 value within 1 mile % age 15-24 15% 15% 15% 14% % age 25 to 44 29% 28% 29% 26% 1 in 3 households have % age 45 to 64 24% 24% 24% 26% children age 18 or younger Households 2018 estimate 416,054 128,873 544,927 Median age of 35 years vs. 2023 projection 431,381 130,843 562,224 38 nationally 2018 households with kids under 18 36% 34% 35% 34% Average 2018 estimate $82,645 $68,820 $79,375 $86,278 Household % earning $75,000+ 42% 33% 40% 40% Income 2023 projection $88,508 $73,914 $85,111 $95,107 Education % college educated 66% 63% 65% 59% 1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 2,287 6,894 12,312 31,382 Employment daytime employment 51,139 112,532 215,448 421,900 1 Primary Trade Area 2 Secondary Trade Area 3 Total Trade Area THE CENTER THE MARKET STARWOOD MacArthur Center Starwood Retail Partners 5th largest manager of regional malls in the US 30 malls and lifestyle centers, with locations in 11 of the top 20 DMAs 100 million+ combined annual visits $84,600 trade area average household income California Illinois North Carolina Metreon The Arboretum of South Barrington Northlake Mall Northridge Mall Chicago Ridge Mall Parkway Plaza Louis Joliet Mall Ohio Plaza West Covina The Promenade Bolingbrook Belden Village Mall Solano Town Center Franklin Park Mall Indiana Great Northern Mall Colorado Southlake Mall SouthPark Mall Belmar Kentucky Texas Connecticut Hamburg Pavilion The Shops at Willow Bend Blue Back Square Michigan Virginia Mark Salman / Director, Leasing / 312.265.2231 / Florida Fairlane Town Center MacArthur Center [email protected] The Mall at Wellington Green The Mall at Partridge Creek Stony Point Fashion Park Westland Mall Montana Washington Bill Cikalo / Director, Big Box Leasing & Development / Georgia Rimrock Mall Capital Mall The Collection at Forsyth Kitsap Mall 312.283.5121 / [email protected] Nebraska Gateway Mall Tim Martin / Director, National Restaurant and Entertainment Leasing – East / 813.455.0651 / [email protected] Sources: The Nielsen Company (3/27/18), State Department of Transportation, State and Local Economic Development Resources Starwood Retail Partners 05/16/18 1 East Wacker Drive Suite 3600 Chicago, IL 60601 www.starwoodretail.com THE CENTER THE MARKET STARWOOD MacArthur Center.
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