Northridge Mall Salinas, 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 “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 60,000 Tourism brings $2.3 billion to Monterey daytime employees within 5 miles County Above-average 5.2% 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 $2,581 on food away from home, 9% above US • Above-average household expenditures $2,262 on apparel, 24% above US $961 on personal care • More affordable housing compared with Monterey, products and services, 4% above US Carmel and Pacific Grove $868 on sports and recreation, 7% above US $633 on home furnishings, on par with US

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 Driving – 26 mi, 30 min Harden Ranch Plaza Driving – 0.7 mi, 1 min

WATSONVILLE Westridge Center Driving – 3 mi, 3 min

101 San Juan Grade Road 65,000 AADT 13,300 AADT

Northridge Mall Harden Ranch Plaza Legend Boronda Road Westridge Center Primary Trade Area 27,700 AADT

North Main Street Secondary Trade MARINA Area MUNICIPAL SALINAS 21,100 AADT AIRPORT Competition MONTEREY SALINAS REGIONAL MUNICIPAL Access Roads AIRPORT AIRPORT (AADT= annual average MONTEREY daily traffic) Del Monte Shopping Center 3 MILES

THE CENTER THE MARKET STARWOOD Northridge Mall Area Attractions 10 mi. California’s Central Coast 83,748 National Steinbeck Center — John Steinbeck’s hometown Salinas Sports Complex — home to the largest rodeo in California 101 Rabobank Stadium Daytime Employees 5 mi. 8,061 Mission Nuestra Señora de la

61,343 Soledad

Colleges 3 mi. Businesses 6,130 California State University — 25,486 Monterey Bay 2,195 US Naval Post Graduate Academy Northridge Mall 79,721 170,632 Residential Population 230,494 Hartnell College 1 Central Coast College $70,585 Defense Language Institute Natividad Medical Ctr $66,552 Middlebury Institute of Household Income International Studies at Monterey Taylor Farms (HQ) Combined Enrollment 20,500 $71,677 Monterey County Social Services Dole Fresh Vegetables Legend California State University Salinas Valley Memorial Mann Packing Co (HQ) US Defense Dept Healthcare System Demographics Key Employers 68 Hilltown Packing Co (HQ)

101 3 MILES D’arrigo Brothers Co (HQ)

THE CENTER THE MARKET STARWOOD Northridge Mall Demographics PTA1 STA2 TTA3 US Avg Population 2016 estimate 213,941 284,216 498,157 Salinas area amasses 2021 projection 224,580 299,405 523,985 accolades for its economic % growth 2016–2021 5.0% 5.3% 5.2% 3.7% prosperity, health conscious Population White 49% 50% 50% 71% residents, climate, and By Race Black 2% 3% 3% 13% recreational opportunities Asian 6% 5% 5% 5% — FindYourSpot.com Hispanic Ethnicity 70% 66% 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 2016 estimate 60,387 76,635 137,022 The region is known for its 2021 projection 63,450 80,899 144,349 floral industry and wineries 2016 households with kids under 18 49% 49% 49% 34% as well as lettuce, broccoli, Average 2016 estimate $75,273 $74,776 $74,995 $77,135 Household mushrooms and strawberries % earning $75,000+ 37% 38% 37% 36% Income 2021 projection $80,762 $80,957 $80,871 $83,619 Education % college educated 44% 45% 44% 59%

1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 490 2,195 6,130 8,061 Employment daytime employment 6,767 25,486 61,343 83,748

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—18% Striving Singles—15% • 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—11% • 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 The Arboretum of South Barrington Northlake Mall Northridge Mall Chicago Ridge Mall Louis Joliet Mall Ohio Belden Village Mall The Promenade Bolingbrook / Senior Director, Leasing / 650.726.2450 / Franklin Park Mall Steve Fahrbach Indiana Great Northern Mall [email protected] Colorado Southlake Mall SouthPark Mall Belmar Kentucky Texas Bryant Siragusa / National Director, Restaurants & Entertainment / Connecticut Hamburg Pavilion The Shops at Willow Bend 214.771.2003 / [email protected] Blue Back Square Michigan Virginia Florida Fairlane Town Center MacArthur Center Bill Cikalo / Director, Big Box Leasing & Development / 312.283.5121 / The Mall at Wellington Green The Mall at Partridge Creek Stony Point Fashion Park [email protected] Westland Mall Montana Washington Georgia Rimrock Mall Capital Mall Naumann Idrees / Vice President, Leasing – West / 312.265.7046 / The Collection at Forsyth Kitsap Mall [email protected] Nebraska Gateway Mall Ed Coury / Senior Vice President, Leasing / 312.242.3217 / [email protected]

Sources: The Nielsen Company; State Department of Transportation; State and Local Economic Development Resources 05/05/16 Starwood Retail Partners 1 East Wacker Drive Suite 3600 Chicago, IL 60601 www.starwoodretail.com

THE CENTER THE MARKET STARWOOD Northridge Mall