ORLANDO Cushman & Wakefield Global Cities Retail Guide

Cushman & Wakefield | Orlando | 2019 0 Orlando has more to offer than just rides and pyrotechnics for the more than 72 million visitors that come each year. Known as the "City Beautiful" and the happiest place on earth, Orlando is home to popular tourism destinations such as Walt Disney World, Universal Studios, and SeaWorld, as well as one of the leading cities in for new job creation and population growth.

The retail market in Orlando is bifurcated into two segments, tourist-related and general retail. Retail that caters to the large influx of visitors to Orlando are grouped around the major theme parks to the south of downtown along in the Tourist Corridor. runs through the area and is anchored on the north end by and in the south by Celebration and the growing north Osceola region. Orlando is also home to the second largest university in the nation as well as many financial services and tech- related companies. ORLANDO With all the positive momentum in the market, the retail sector continues to be active. Occupancies remain high throughout the market with new-to-market tenants OVERVIEW attracted to the area's growing fundamentals.

Cushman & Wakefield | Orlando | 2019 1 ORLANDO KEY RETAIL STREETS & AREAS

LAKE MARY/HEATHROW MILLENIA Traditional family-oriented suburban submarket located Anchors the north end of International Drive and includes north of Orlando that is extremely attractive to young the Mall at Millenia, one of the most successful retail working professionals. Lake Mary features two distinct shopping destinations in Florida. Millenia has a growing shopping centers, Colonial Town Park and the Seminole office market, home to many high-paying professionals. Towne Center, each offering consumers a variety of New multifamily construction continues to increase the choices in terms of dining, retail options, and atmosphere. area's density and desirability for many Millennials.

UCF/WATERFORD LAKES INTERNATIONAL DRIVE (I-DRIVE) The submarket caters to the bustling student population at I-Drive parallels the I-4 and caters to tourists to the area UCF as well as the more affluent residents to the east and theme parks. It has 200+ restaurants and 550+ stores. southeast of Orlando. The major shopping district is Anchored by three large shopping centers: Orlando Waterford Lakes along the Alafaya Trail. The submarket is International Premium Outlets; ; and the connected to the East/West connector (SR 408) and the Orlando Vineland Premium Outlets by Disney World as loop highway around Orlando (SR 417). well as the Orange County Convention Center, the second largest convention center in the country.

WINTER PARK Located direct north of downtown Orlando, Winter Park is Disney Springs is adjacent to I-4 and located within the an old historic small town, home to a high income heart of the Walt Disney World’s main property. It is a demographic and two main shopping areas. Park Avenue popular shopping destination for visitors wanting to has luxury shopping, fine dining, and is near Rollins experience the Disney magic without paying the College. Orange Avenue is one of the main shopping admission price. The Springs is home to 100+ shops, 50+ corridors in the metro area that has seen a recent influx restaurants, 10+ entertainment options and a plethora of retailers, including Nordstrom Rack and Whole Foods. family activities.

Cushman & Wakefield | Orlando | 2019 2 ORLANDO MARKET OVERVIEW

KEY AREAS / CONSUMER MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT FOR RANGE OF UNIT STREETS/SHOPPING PROFILE UNIT OF 2,000 SQFT SIZES CENTERS

Macy's, Dillard's, JCPenney, United Locals Artists Theatre, $15 PSF Dick's Sporting Goods

Ross Dress For Less, T.J. Maxx, Bed Bath & Beyond, Barnes & Noble, Best Waterford Lakes Town Locals Buy, Jo-Ann Fabrics, Office Max, $30 PSF 500 SF - 30,616 SF Center PetsMart, Target, Ashley Furniture HomeStore, L.A. Fitness, Regal Cinema Alex and Ani, California Closets, Charyli, Cottonways, Ethan Allen, Lucky Brand Park Avenue Locals $30-$45 PSF 1,343 SF – 7,124 SF Jeans, Ten Thousand Villages, The Paper Shop Inc., Sunglass Hut Regal Cinemas, Publix, Loft, Pier 1 Imports, Guitar Center, Jos. A. Bank, J. Locals $35.00 PSF 1,580 SF – 25,500 SF Jill, Ulta, White House Black Market, Versona Louis Vuitton, Gucci, Prada, Chanel, Cartier, Apple, Michael Kors, Kate Spade new York, Victoria's Secret, The Mall at Millenia Tourists, Locals Banana Republic, Brooks Brothers, $50+ PSF Anthropology, lululemon athletica, Pottery Barn, MAC Cosmetics, Neiman Marcus, Bloomingdale's, Macy's Alex and Ani, Columbia Sportswear, The Art of Shaving, Kiehl’s Since 1851, Kipling, Lacoste, Johnston & Murphy, Tourists, Locals Kate Spade, Lucky Brand, Mac Disney Springs TBD Cosmetics, Lilly Pulitzer, Pandora Jewelry, Sanuk, Sperry, Sephora, Tommy Bahama, Ugg, Vera Bradley, Zara

Cushman & Wakefield | Orlando | 2019 3 ORLANDO MARKET OVERVIEW

KEY AREAS / CONSUMER MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT FOR RANGE OF UNIT STREETS/SHOPPING PROFILE UNIT OF 2,000 SQFT SIZES CENTERS

7 For All Mankind, Brahmin, Coach, DKNY, Dooney & Bourke, J. Crew, Kate Orlando International Spade, Kenneth Cole, Lacoste, Neiman Tourists, Locals Diesel, Vera Bradley $50+ PSF Premium Outlets Marcus Last Call, Polo Ralph Lauren, Saks Fifth Avenue, Off 5th, Victoria's Secret

Burberry, Calvin Klein, Coach, Cole Haan, Diesel, Fendi, Gap Outlet, Giorgio Robert Graham, Orlando Vineland Armani, Hugo Boss, J. Crew, Lacoste, Tourists, Locals Vilebrequin, $50+ PSF Premium Outlets Michael Kors, Nike, Polo Ralph Lauren, Original Penguin Salvatore Ferragamo, Tag Heuer, Tory Burch, Vera Bradley

Macy's, Dillard's, JCPenney, Sears, Tourists, Locals $40-$45 PSF H&M, Forever 21, American Girl, Zara

Cushman & Wakefield | Orlando | 2019 4 ORLANDO SHOPPING CENTERS

SEMINOLE TOWNE CENTER THE MALL AT MILLENIA Regional mall near Lake Mary and off of I-4 features many The Mall at Millenia exposed consumers in Orlando to an large retailers including Dillard's, Macy's, and Dick's international collection of luxury brands including Louis Sporting Goods. Seminole Towne Center also includes Vuitton, Gucci, Prada, Chanel, and Cartier. The mall has over 120 specialty shops throughout the mall and 5 full- become known as 's preferred address for service restaurants. luxury goods and services, featuring more than 150 stores in an enclosed mall that spans 1.2 million square feet. WATERFORD LAKES TOWN CENTER Minutes from UCF, this community and lifestyle center is ORLANDO INTERNATIONAL/VINELAND home to more the 100 specialty shops and dining options, as well as popular retailers including Target and Best Buy. PREMIUM OUTLETS Waterford Lakes Town Center is an open-air center on With two locations, the Vineland location being off of five acres of lakes, fountains, and landscaped areas. Interstate 4 and only minutes from Walt Disney World and the International location off of International Drive near PARK AVENUE Universal Orlando Resort, these collections of outlet stores provide consumers with 25% to 65% savings each The historic heart of Winter Park, Park Avenue is an day. The Orlando International and Vineland Premium upscale, high-end shopping district known for beautiful Outlets offer consumers with a variety of name brand and scenery, fine dining, and luxury boutiques. The area designer outlet stores in a Mediterranean village setting. attracts many wealth management and financial services firms.

Cushman & Wakefield | Orlando | 2019 5 ORLANDO SHOPPING CENTERS

THE FLORIDA MALL WINTER PARK VILLAGE With over 250 stores and restaurants and over 1.8 million Offering many residential and office space options, Winter square feet of space, The Florida Mall attracts 20 million Park Village is home to many high-end retailers and visitors a year and is known as Central Florida's largest restaurants in an open-air Main Street concept. and most dynamic shopping center. It features many stores exclusive to Central Florida including The Disney Store, Crayola Experience and one of only five worldwide M&M's World stores.

DISNEY SPRINGS Opened in 2016, Disney Springs, has over 150 different shopping, dining and entertainment venues organized into four separate outdoor neighborhoods. A number of new- to-market establishments have opened their doors, including The Boathouse, an upscale waterfront restaurant; Erwin Pearl, a fashion jewelry retailer; and Havainas, a footwear retailer where guests may create their own customized flip flops.

Cushman & Wakefield | Orlando | 2019 6 DEVELOPMENT TO WATCH OUT FOR

LAKE NONA TOWN CENTER

Total Size (SF) 3.8 MSF

- Retail GLA 1.2 MSF

Planned Opening Date 2020

Consumer Profile Tourists, Locals

ABOUT THE DEVELOPMENT

Lake Nona Town Center is a $780 million, 100-acre mixed use project within the 11,000 acre Lake Nona community. Upon completion, the town center will be a regional shopping and entertainment destination with ample collection of shopping opportunities including department stores, large-scale retail shops and fashion boutiques. The completed phase 1 of the project included two hotels, a Marriott Resident Inn, Courtyard by Marriott. Phase 2A of the project which broke ground in 2017, will feature a 42,000-sf brewery, 51,000-sf medical facility, 120,000-sf medical fitness facility, 150- room hotel, 418,500 sf of mixed retail and 163,000 sf of Class A office space. At full buildout, Lake Nona Town ORLANDO Center will include more than 80 speciality retailers, anchors, junior anchors and restaurants. NEW DEVELOPMENT WATCH

Cushman & Wakefield | Orlando | 2019 7 ORLANDO FOOD & BEVERAGE

From local dining favorites to the region's many entertainment options, Orlando proves to be not only a city of high energy fun but also one of fine cuisine and culture.

Residents and visitors can enjoy fine dining at one of the area's many high end resorts as well and a night of dancing at one of the many clubs downtown. Orlando diverse retail market caters to the needs of a diverse set of consumers.

Cushman & Wakefield | Orlando | 2019 8 ORLANDO FOOD & BEVERAGE MARKET OVERVIEW KEY AREAS CONSUMER FOOD & BEVERAGE OPERATORS RENT FOR PROFILE INCLUDING 3,500 SQFT UNIT The Cowfish, Vivo Italian Kitchen, Antojitos, Hard Rock Café, Jimmy Buffett's Universal City Walk Tourists, Locals Margaritaville, Bob Marley- A Tribute to Varied $ Freedom, Bubba Gump Shrimp Co., Emeril’s, Pat O’Briens

Liam Fitzpatricks, Dexter's, Ruth's Chris Steak Colonial Townpark Locals Varied $ House, Amura, World of Beer

310 Park South, The Bistro, Panullo's, Paris Bistro, Park Avenue/ Orchid Thai Cuisine, Luma on Park, Boca Kitchen Locals Varied $ Winter Park Bar, Hamilton’s Kitchen, The Ravenous Pig, 4 Rivers

98 Forty Tapas & Tequila, Aashirwood Indian Cuisine, Aki Sushi, Antojitos Authenitc Mexican Kitchen, B.B. Kings Blues Club, Café I-Drive Tourists, Locals Varied $ Tu Tu Tango, Cowfish Sushi Burger Bar, The Cupcake Lounge Orlando, Fat Fish Blue, Fogo de Chao Churrascaria,

The Boathouse, Blaze Fat-Fire’d Bongo’s, Earl of Sandwich, The Edison, Frontera Concin, House of Disney Springs Tourist, Locals Varied $ Blues, Jock Lindsey’s, Morimoto Asia, Paddlefish, Planet Hollywood, Ragland Road, STK

Brio Tuscan Grille, Sakari Sushi, Cheesecake Winter Park Village Locals Factory, Lime Fresh Mexican Grill, Another Broken Varied $ Egg, P.F.Chang's China Bistro

Cushman & Wakefield | Orlando | 2019 9 ORLANDO FOOD & BEVERAGE MARKET OVERVIEW KEY AREAS CONSUMER FOOD & BEVERAGE OPERATORS RENT FOR PROFILE INCLUDING 3,500 SQFT UNIT California Pizza Kitchen, Cooper's Hawk Winery & Restaurants, Kirin Sushi, Little Waterford Lakes Locals Varied $ Greek, Marlow's Tavern, Sweet! By Good Golly Miss Holly, Thai Singha

310 Lakeside, Kres, Chef Eddies, Harp and Celt Downtown Tourists, Locals Irish Pub and Restaurant, The Rusty Spoon, Tin Varied $ and Taco, Gringos Locos

Cushman & Wakefield | Orlando | 2019 10 ERIKA SCHANKE Managing Director Americas Retail Services 1290 Avenue of the Americas New York, NY 10104, USA Tel: +1 212 841 5024 Mob: +1 404 680 4363 [email protected]

No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. © 2019 Cushman & Wakefield. All rights reserved.