Northridge Mall Northridge Mall Salinas, California A young, growing multicultural market in a SANTA CRUZ, CA GILROY, CA remarkably large trade area is a sure recipe for retail success — just look at Northridge Mall. MONTEREY BAY A core for generations of families who own or work SALINAS, CA in the agricultural businesses in the “Salad Bowl MONTEREY, CA of the World,” and major wine producing region, Northridge’s diverse group of shoppers come from 10 MILES three counties for fashion, dining and entertainment. With exceptionally strong anchors, Northridge is a regional destination for a growing residential district — and a tightknit community. Northridge Mall Salinas, California • Enclosed single-level super-regional mall • Serves the largest population base between Los Angeles and San Jose • Only enclosed mall between San Jose and Santa Maria • Multi-million dollar expansion and renovation unifies the mall with new grand court and relocation of JCPenney Property Description major roads US Highway 101 and center description Enclosed, one-level center Boronda Road anchors Macy’s, JCPenney, Sears and Forever 21 total sf 1,000,000 key tenants Victoria’s Secret, Best Buy, Toys R Us, H&M, Hollister, # of stores 100 Old Navy, New York & Company, Disney, Big 5 Sporting Goods, DSW, Ulta Beauty, and Century Theaters # of parking 5,800 14-screen multiplex THE CENTER THE MARKET STARWOOD Northridge Mall Redevelopment Highlights A new 126,000 square foot JCPenney store, now open Exciting new dining, entertainment, and retail uses in the former JCP space Recently opened Ulta and DSW A myriad of exterior improvements including facade updates THE CENTER THE MARKET STARWOOD Northridge Mall “The gateway to the Monterey Bay in Steinbeck Country.” — VisitCalifornia.com THE CENTER THE MARKET STARWOOD Northridge Mall • At US 101 and Boronda Road • Strong multicultural consumer base • Local public transit connects Salinas to San Jose and Gilroy, as well as Monterey County cities • Anchor sales above national average Core of the Community Accessible to 65,000 cars daily on Draws from Monterey, Santa Clara and Highway 101 and nearly 30,000 cars on Santa Cruz Counties Boronda Road Trade area boasts large, family-oriented 25 miles east of Monterey Bay and 60 households and high commercial density miles south of San Jose THE CENTER THE MARKET STARWOOD Northridge Mall “Come to Northridge Mall and Be Inspired!”— SeeMonterey.com • Young and growing residential market • Economy dominated by healthcare, agri-business, logistics, transportation, education, defense and finance • Growing educational core • Strong tourism base Salad Days Salinas is the “Salad Bowl of the World” Nearly 70% of residents are under — fertile soil produces nearly 80% of the 45 years of age, higher than national nation’s lettuce average 1 in 2 households have children under 18; Home to military training facilities 24% of population are children age 14 or including US Naval Post Graduate School younger and Defense Language Institute More than 170,000 residents and nearly Tourism brings $2.3 billion to Monterey 60,000 daytime employees within 5 miles County Above-average 5.1% five-year market growth Local agriculture is a $4 billion industry THE CENTER THE MARKET STARWOOD Northridge Mall • The economic center of Monterey County Primary Trade Area Average Household • Strong trend of businesses relocating from Silicon Valley Expenditures Above US $2,738 on food away from home • Above-average household expenditures $2,443 on apparel $1,017 on personal care products and services • More affordable housing compared with Monterey, $933 on sports and Carmel and Pacific Grove recreation $631 on home furnishings THE CENTER THE MARKET STARWOOD Northridge Mall Gilroy Premium Outlets GILROY Distance to Competition Del Monte Shopping Center 49 MILES Driving – 24 mi, 30 min Gilroy Premium Outlets 101 25 Driving – 26 mi, 30 min WATSONVILLE Harden Ranch Plaza Driving – 0.7 mi, 1 min Westridge Center HOLLISTER Driving – 3 mi, 3 min 101 San Juan Grade Road 65,000 AADT 13,300 AADT 1 Northridge Mall Harden Ranch Plaza Westridge Center Boronda Road 27,700 AADT MARINA Legend North Main Street MARINA SALINAS 21,100 AADT Primary Trade Area MUNICIPAL Secondary Trade Area AIRPORT MONTEREY SALINAS Competition REGIONAL MUNICIPAL AIRPORT AIRPORT Access Roads MONTEREY (AADT= annual average 68 daily traffic) Del Monte Shopping Center 3 MILES THE CENTER THE MARKET STARWOOD Northridge Mall 101 Area Attractions California’s Central Coast National Steinbeck Center — John Steinbeck’s hometown Salinas Sports Complex — home to the largest rodeo in California Northridge Mall Rabobank Stadium 1 Mission Nuestra Señora de la Soledad Natividad Medical Ctr SALINAS MARINA MARINA Colleges MUNICIPAL MUNICIPAL SALINAS California State University — Hartnell College AIRPORT AIRPORT Monterey Bay Taylor Farms (HQ) Central Coast College US Naval Postgraduate California State Monterey County Dole Fresh Vegetables School University – Monterey Bay Social Services Mann Packing Co (HQ) Hartnell College US Defense Dept Salinas Valley Memorial Central Coast College Healthcare System Hilltown Packing Co (HQ) Defense Language Institute Middlebury Institute of D’arrigo Brothers Co (HQ) International Studies at Monterey MONTEREY Combined Enrollment 20,500 Defense Language Institute 68 101 US Naval Postgraduate School Legend MONTEREY Middlebury Institute REGIONAL Primary Trade Area AIRPORT of International Studies Secondary Trade Area at Monterey Colleges Key Employers 3 MILES THE CENTER THE MARKET STARWOOD Northridge Mall Demographics PTA1 STA2 TTA3 US Avg Population 2017 estimate 215,908 286,321 502,229 Salinas area amasses 2022 projection 226,523 301,107 527,630 accolades for its economic % growth 2017–2022 4.9% 5.2% 5.1% 3.8% prosperity, health conscious Population White 49% 50% 49% 70% residents, climate, and By Race Black 2% 3% 3% 13% recreational opportunities Asian 6% 5% 5% 6% — FindYourSpot.com Hispanic Ethnicity 71% 67% 68% 18% Median Age 32 32 32 38 Entrepreneur magazine % age 15-24 15% 16% 15% 14% named Salinas among its 30 Best Cities for Small % age 25 to 44 28% 29% 28% 26% Businesses % age 45 to 64 22% 22% 22% 26% Households 2017 estimate 60,922 77,415 138,337 The region is known for its 2022 projection 63,969 81,592 145,561 floral industry and wineries 2017 households with kids under 18 49% 49% 49% 34% as well as lettuce, broccoli, Average 2017 estimate $80,598 $79,092 $79,755 $80,853 Household mushrooms and strawberries % earning $75,000+ 38% 39% 39% 38% Income 2022 projection $88,373 $87,154 $87,689 $87,464 Education % college educated 43% 43% 43% 59% 1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 476 2,151 6,036 7,951 Employment daytime employment 6,619 22,063 57,211 79,423 1 Primary Trade Area 2 Secondary Trade Area 3 Total Trade Area THE CENTER THE MARKET STARWOOD Northridge Mall Predominant Market Lifestyle Segments Mainstream Families—19% Striving Singles—14% • Family mix with adults age • Mix of young families and 35 to 50 singles • Middle-class • Collegiate and in transition • Modestly priced homes • Modest incomes • Maintain lifestyles befitting • Active members of local large families community organizations • Rank high in outdoor activities • Enjoy outdoor sports, movies, and sports music and fast food Conservative Classics—14% Accumulated Wealth—10% • Upper-middle-class age 55+ • Families & couples age 50+ • Childless singles and couples • Upscale, college-educated • College-educated baby boomers • Enjoy comforts of home, • Sprawling suburban homes gardening, reading, and • Disposable cash and entertaining sophisticated tastes • Frequent patrons to • Enjoy top-of-the-line museums, the theater, and electronics, sporting casual-dining restaurants equipment, cars and vacations THE CENTER THE MARKET STARWOOD Northridge 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 Steve Fahrbach / Senior Director, Leasing / 650.726.2450 / Northridge Mall Chicago Ridge Mall [email protected] Parkway Plaza Louis Joliet Mall Ohio Belden Village Mall Plaza West Covina The Promenade Bolingbrook / Director, Leasing / 415.369.6122 / Solano Town Center Franklin Park Mall Molly Sween Indiana Great Northern Mall [email protected] Colorado Southlake Mall SouthPark Mall Belmar Kentucky Texas Bill Cikalo / Director,