An Opportunity for Dillard's at Cumberland Mall
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AN OPPORTUNITY FOR DILLARD’S AT CUMBERLAND MALL atlanta is an underserved market Compared to other large and mid-sized markets within southern states, Atlanta can sustain another full-line Dillard’s location with Cumberland Mall being the best choice for expansion. atlanta, ga phoenix, az tampa, fl number of dillard's stores 7 10 8 base counts Population 5,806,085 4,732,910 3,045,329 5yr Projected Pop Growth 7.2% 9.2% 6.7% Households 2,130,156 1,718,173 1,242,566 affluence & education Households Earning $75,000+ 859,934 389,078 354,585 Average Household Income $84,297 $77,596 $71,015 % of Population [25+] Bachelor’s Degree+ 39% 31% 31% population per dillard’s store 829,411 Proposed 8 Stores 473,291 725,761/store 380,666 Source: ESRI 2017 providing access to northwestern atlanta’s thriving, affluent market Serving the affl uent communities of Smyrna, Cobb, and Marietta, mall of georgia a new Dillard’s location at Cumberland Mall enables the Dillard’s dillard’s: $23m brand to fully serve the Atlanta area. macys: $43m Situated near the interchange of I-75 and I-285, Cumberland trade area alpharetta Mall is convenient to over a million residents within the northwestern portion of the market. ggp northpoint mall dillard’s: $23m macy’s: $40m cumberland mall demographics base counts 5 miles trade area marietta 5 mile ggp perimeter mall Population 198,637 1,032,768 dillard’s: $25m 5yr Projected Pop Growth 6.8% 6.5% macy’s: $40m Households 88,407 400,971 cumberland mall macy's: $39m affluence & education smyrna buckhead Households Earning $75,000+ 39,770 170,872 Average Household Income $107,229 $91,176 atlantic station % of Population [25+] 59% 45% dillard’s: $18m Bachelor’s Degree+ arbor place dillard’s: $12m macys: $12m mall at stonecrest dillard’s: $10m macys: $20m average hh income UNDER $50,000 $100,000 - $150,000 $50,000 - $75,000 OVER $150,000 $75,000 - $100,000 Source: ESRI 2017 ashley park dillard’s: $16m riverwood 100 500,000 sf cobb energy performing arts center I-75 (150,000 VPD) Home of the Atlanta Ballet and Opera 270 Performances with atlanta galleria 279,000 Patrons in 2016 office complex 1100 circle 75 2.5m sf 265,000 sf cumberland center 900,000 sf I-285 (167,000 VPD) 900 circle 75 364,000 sf cobb pkwy (39,320 vpd) cobb galleria centre suntrust park & the battery atlanta 189,000 SF of Exhibition, Ball Room Opened April 2017 and Meeting Space Total Construction Cost: $1.1Billion 669 Event with 344,000 Attendees in 2016 cumberland mall new atlanta braves ballpark 522 Room Renaissance Hotel 42,000 Seat Capacity 2017 Attendance: 2.5 Million the battery atlanta Comcast Regional HQ (~1,000 Employees) 600 Residential Units New Omni Hotel (260 Rooms) cumberland mall is in the center of a cultural & employment hub cumberland area statistics Representing 5.4% of the state's economy, the Cumberland area has seen continued office hotel multi-family growth over the past decade culminating with the relocation of the Atlanta Braves to the Current 15.2m SF 3,800 Rooms 15,775 Units area in 2017. The area is home to several corporate and regional headquarters including 2,050 Units The Home Depot, Russell Athletics and Comcast and is poised for further growth with Under Construction 1.9m SF 1,400 Rooms additional offi ce, hotel and residential projects coming online in the near future. Source: Cumberland CID, GGP Business Intelligence & Strategy cumberland mall provides a growing platform for success Capitalizing from the unprecedented development happening outside of the center, GGP continues to curate the center to fit the changing consumers’ needs. As evidenced in strong sales growth and consumers shopping the Cumberland Mall. cumberland’s sales productivity: $676/sf merchandise category growth over past 3 years (Comparable, R12 Sales Volume, as of May 2018) Activewear/Athleisure ↑ 52% Apple ↑ 46% Athletic Shoes ↑ 36% Beauty & Wellness Products ↑ 32% Women’s Specialized ↑ 19% Total Mall Sales Volume ↑ 14% Jewelry ↑ 13% Women’s Apparel ↑ 8% cumberland mall shopper draw trend (Atlanta DMA residents (age 18+) shopping Cumberland Mall quarterly) 673,507 592,028 575,546 2015 2016 2017 Source: GGP Intel 2018; Nielsen 2017 site plan 2860 CUMBERAND MALL ATLANTA, GEORGIA 30339 2860 CUMBERAND MALL CUMBERLAND MALL ATLANTA, GEORGIA 30339 CUMBERLAND MALL PROJECT NO: 4144 DRAWN BY: JL COPYRIGHT: GGP Inc. DESCRIPTION PROJECT NO: 4144 DRAWN BY: JL COPYRIGHT: GGP Inc. SITE PLAN DESCRIPTION SHEET NO. SITE PLAN SP1 DATE: July 2018 SHEET NO. SP1 DATE: July 2018 lower level upper level .