Westland Mall

Westland Mall Hialeah, (Miami) Florida Known as the City of Progress, Hialeah, Florida, has

always been about looking forward — a home field FORT LAUDERDALE, FL

for pioneering aviatrix Amelia Earhart, close to the HOLLYWOOD, FL exciting growth in Miami, and a launching pad for aspiring consumers seeking their piece of success. MIAMI, FL

CORAL GABLES, FL Westland Mall, its retail core, serves a proud and surprisingly affluent, multigenerational community 10 MILES that is proud of its heritage (predominantly Cuban) HOMESTEAD, FL and homes, and want the latest and best brands to show their commitment to their new lives.

Westland Mall Hialeah, (Miami) Florida • Enclosed single-level regional mall

• Only shopping center within a 10-mile radius

• Accessible from Interstate 75, Palmetto Expressway, Florida Turnpike and US Highway 27

• Third largest Hispanic market in the United States by population

Property Description

major roads Palmetto Expressway (SR center description Enclosed, one-level center 826) and West 49th Street anchors Macy’s, Sears, and JCPenney total sf 835,000 key tenants Pandora, Tous, H&M, Express Factory # of stores 95 Outlet, New York & Company, Aldo, G by # of parking 3,800 Guess, U.S. Polo Assn, and Victoria’s Secret

THE CENTER THE MARKET STARWOOD Westland Mall “A vibrant community [–] an American industrial city that continues to grow. Hialeah is one of the largest areas for employment and economic development in Miami-Dade County.”

— City of Hialeah

THE CENTER THE MARKET STARWOOD Westland Mall • Fiercely loyal customer base

• Mall sales above US average, including top-performing restaurants

• Multimillion-dollar renovation recently completed

• Convenient to both Miami International and Ft. Lauderdale International airports

The Heart of Hialeah Visible to 234,000 cars on Palmetto Nearby Miami International Airport Expressway and accessible to 61,000 is second busiest US airport for vehicles on US 27/Okeechobee Road international passengers 351-mile-long Florida East Coast 5.5 million visitors to Westland Mall Railway connects Hialeah with annually major Florida ports

THE CENTER THE MARKET STARWOOD Westland Mall “A great alternative to the much busier and heavily populated city of Miami”

— DestinationSeeker.com • In the heart of northwest Dade county, accessible from every major thoroughfare

• Dense and growing local economy, dominated by medical, tourism, higher education, engineering and government

• Hialeah is one of Florida’s largest and most family-oriented communities

Viva Westland Projected 5-year population growth rate The large share of residents of Cuban of 6.4% versus 3.8% US average background is a source of potential tourism growth with impending embargo lift Population of nearly 220,000 within 3 miles doubles to 443,600 within 5 miles Daytime employment of 105,300 people within 3 miles, 260,400 workers within More than 40% of trade area households 5 miles have children under 18 Hialeah Park Racing and Casino Two master-planned communities under expansion construction More than 120,000 college students

THE CENTER THE MARKET STARWOOD Westland Mall • Culturally diverse and dynamic place to live and shop Primary Trade Area Average Household • Premier Hispanic market and Latino customer base Expenditures $2,334 on food away from home • Stable home ownership, averaging 17 years $1,860 on apparel $855 on personal care products and services • Consumers value name brands and classic $640 on sports and Americana brands recreation $515 on home furnishings

THE CENTER THE MARKET STARWOOD Westland Mall Pembroke Lakes Mall PEMBROKE PINES NORTH PERRY AIRPORT

Distance to Competition Dolphin Mall Driving – 11 mi, 14 min I-75 Miami International Mall Driving – 10 mi, 12 min Palm Springs Mile Driving – 2 mi, 3 min Pembroke Lakes Mall 27 Driving – 14 mi, 16 min Palmetto Expressway 234,000 AADT MIAMI LAKES OPA-LOCKA AIRPORT

West 16th Avenue I-95 23,000 AADT

US Hwy 27/W Okeechobee Road 61,000 AADT Palm Springs Mile Westland Mall West 49th Street/Route 932 West 12th Avenue 55,000 AADT 29,500 AADT

HIALEAH Legend Primary Trade Area

Secondary Trade Area

DORAL Competition

Access Roads

(AADT= annual average MIAMI INT’L AIRPORT daily traffic)

3 MILES Dolphin Mall Miami International Mall MIAMI

THE CENTER THE MARKET STARWOOD Westland Mall 826

I-75 MIAMI LAKES OPA-LOCKA Cordis Corp (HQ) AIRPORT Area Attractions Marlins Park Johnson & Wales University Hard Rock Stadium Palmetto General Hospital Dade Medical College Trump National Doral Miami Westland Mall Miami Dade College Colleges Florida National University HIALEAH Miami Dade College I-95 Hialeah Hospital Florida International University 826 27 University of Miami Florida National University DORAL Trump National Doral Miami Johnson & Wales University

INTCOMEX (HQ) Carnival Cruise Corp (HQ) Dade Medical College Dade County Police & Government Combined enrollment: 122,900 Atkins Engineering MIAMI INT’L AIRPORT Jackson Memorial Hospital

MIAMI

Florida International Legend University WESTCHESTER Primary Trade Area Secondary Trade Area

Colleges

Key Employers 3 MILES CORAL GABLES University of Miami

THE CENTER THE MARKET STARWOOD Westland Mall Demographics PTA1 STA2 TTA3 US Avg Population 2017 estimate 383,368 257,273 640,641 Shopping at Westland Mall 2022 projection 408,375 273,515 681,890 ranks as the #3 thing to do % growth 2017–2022 6.5% 6.3% 6.4% 3.8% in Hialeah Population White 91% 48% 74% 70% — TripAdvisor.com By Race Black 4% 45% 20% 13% Asian 1% 1% 1% 6% “Very Liveable City” Hispanic/Latino Ethnicity 90% 53% 75% 18% — AreaVibes.com Median Age 42 36 40 38 % age 15-24 12% 14% 13% 14% #9 in Top Places to Live in % age 25 to 44 27% 28% 27% 26% Florida % age 45 to 64 28% 25% 27% 26% — DestinationSeeker.com Households 2017 estimate 121,061 78,835 199,896 2022 projection 128,857 83,994 212,851 2017 households with kids under 18 41% 45% 43% 34% Average 2017 estimate $58,385 $52,971 $56,250 $80,853 Household % earning $75,000+ 25% 23% 24% 38% Income 2022 projection $63,951 $58,022 $61,611 $87,464 Education % college educated 44% 44% 44% 59%

1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 2,605 12,276 27,239 83,017 Employment daytime employment 22,059 105,316 260,414 797,514

1 Primary Trade Area 2 Secondary Trade Area 3 Total Trade Area

THE CENTER THE MARKET STARWOOD Westland Mall Predominant Market Lifestyle Segments

Sustaining Families—35% Cautious Traditionalists—16% • Urban, multi-cultural mix • Over 55 year-old mix of • Younger to middle-age singles and couples • Middle-class families, blend • High rate of home ownership of kids, singles and couples • Fans of reading, home-based • Modest lifestyles, aspirational hobbies and travel shoppers • Enjoy eating out at family • Enjoy a wide variety of media restaurants • Pursue entertainment outside the home

Striving Singles—15% Midlife Success—9% • Mix of young families and • Singles & couples in their 30’s singles and 40’s • Collegiate and in transition • Wealthiest of the Younger • Modest incomes Years class • Active members of local • College-educated with six- community organizations figure incomes • Enjoy outdoor sports, movies, • Executive and professional music and fast food jobs • Fans of technology, financial products, and travel

THE CENTER THE MARKET STARWOOD Westland Mall Starwood Retail Partners: A New Kind Of Owner For A New Generation Of Retail

Starwood Retail Partners is not your father’s — or your grandfather’s — landlord. We’re acquiring, redeveloping, managing, leasing and operating the next generation of shopping centers for a new generation of shoppers: active, exciting community cores for an increasingly interconnected consumer.

Owned by Starwood Capital Group, we’ve grown our portfolio to 30 centers in 16 states across the United States since our founding in 2012, working with top-tier investment firms to help finance our properties, and employing the talents and skills of the most creative professionals in the business to maximize their value.

We build solid relationships and partner with our retailers to ensure that they are in the right property at the right time, with the right deal to support their success now and in the future. We invest in innovative technologies that help our properties become more productive, our stores more exciting and our shoppers more engaged.

We understand that ultimately, as an owner, as an employer and as a citizen of our communities, it’s not about property, it’s about people.

California Illinois North Carolina Metreon The Arboretum of South Barrington Northlake Mall Alex Lopez / Director, Leasing /305.322.5112 / Northridge Mall Chicago Ridge Mall [email protected] Parkway Plaza Louis Joliet Mall Ohio Belden Village Mall Plaza West Covina The Promenade Bolingbrook / Director, Big Box Leasing & Development / 312.283.5121 / Solano Town Center Franklin Park Mall Bill Cikalo Indiana Great Northern Mall [email protected] Colorado Southlake Mall SouthPark Mall Belmar Kentucky Texas Tim Martin / Director, National Restaurant and Entertainment Leasing – Connecticut Hamburg Pavilion The Shops at Willow Bend East / 813.455.0651 / [email protected] Blue Back Square Michigan Virginia Florida Fairlane Town Center MacArthur Center Bryant Siragusa / Vice President, National Restaurant and Entertainment The Mall at Wellington Green The Mall at Partridge Creek Stony Point Fashion Park Leasing / 214.771.2003 / [email protected] Westland Mall Montana Washington Georgia Rimrock Mall Capital Mall Joe Nicchetta / Vice President, Leasing - East / 312.242.3182 / The Collection at Forsyth Kitsap Mall [email protected] Nebraska Gateway Mall Michael Powers / Senior Vice President, Leasing / 312.242.3208 / [email protected]

Sources: The Nielsen Company; State Department of Transportation; State and Local Economic Development Resources 11/29/17 Starwood Retail Partners 1 East Wacker Drive Suite 3600 Chicago, IL 60601 www.starwoodretail.com

THE CENTER THE MARKET STARWOOD Westland Mall