Fairlane Town Center Dearborn, (Detroit) Michigan Tri-Level, Super-Regional Center in the Heart of Dearborn
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Fairlane Town Center Fairlane Town Center Dearborn, (Detroit) Michigan Tri-level, super-regional center in the heart of Dearborn R&D offices for Ford Motor Corp. NOVI, MI opened in former department store LIVONIA, MI space DETROIT, MI Closest center to Canadian border DEARBORN, MI crossing, bringing year-round TAYLOR, MI shoppers CANADA Only enclosed center for 11 miles in a densely-populated market 10 MILES Fairlane Town Center Dearborn, (Detroit) Michigan One wing recently converted to offices for Ford Motor’s 1,800 research & development employees Expansive trade area of 1.8M Sales increases exceed national average Property Description major roads US Highway 12 and State center description Enclosed, three-level center Route 39 anchors Macy’s, JCPenney, AMC Theatres and Ford Motor total sf 1,400,000 Company # of stores 125 key tenants PINK, H&M, Forever 21, Aldo, Hollister, House of Hoops, Xfinity, Express, Victoria’s Secret, Kids Fly # of parking 8,400 Zone and P.F. Chang’s China Bistro THE CENTER THE MARKET STARWOOD Fairlane Town Center “The Dearborn/Wayne District is steeped in history but is far from old fashioned.” — VisitDetroit.org THE CENTER THE MARKET STARWOOD Fairlane Town Center Adjacent to Ford Motor World HQ with 22,000 employees Hotspot for manufacturing and high-earning technology professionals Location and Connections Convenient access from I-94, I-96, the Across the street from University of Southfield Freeway and Highway 12 Michigan-Dearborn and Henry Ford College 130,000+ vehicles daily on nearby roads THE CENTER THE MARKET STARWOOD Fairlane Town Center THE CENTER THE MARKET STARWOOD Fairlane Town Center Unprecedented economic expansion Young, multicultural and professional market Large tourist base due to music, auto industry, and Canadian shoppers Strong presence of higher education institutions Area Resurgence, New Shoppers Within one mile: Average household income of $103,600 83% are college educated 6.1% population growth by 2024 vs. Approximately 30,000 college students 3.6% US THE CENTER THE MARKET STARWOOD Fairlane Town Center 31.5 MILES Twelve Oaks Mall Eastland Center (Novi) Distance to Competition Laurel Park Place COLEMAN A. YOUNG 39 Eastland Center (Livonia) INT’L AIRPORT 127,900 AADT Driving – 21 mi, 24 min I-94 Fairlane Green I-96 I-75 Driving – 3 mi, 6 min 161,000 AADT Laurel Park Place Driving – 14 mi, 16 min Ford Road/Route 153 71,700 AADT Southland Center Westland Shopping Center DETROIT USA Driving – 12 mi, 15 min WESTLAND 153 12 CANADA Twelve Oaks Mall Fairlane Town Center DEARBORN Driving – 26 mi, 30 min CANTON Westland Shopping I-275 Center Highway 12/Michigan Avenue 38,700 AADT Fairlane Green Driving – 11 mi, 19 min 39 I-94 94,000 AADT 142,300 AADT ONTARIO TAYLOR DETROIT METRO I-75 Legend WAYNE COUNTY AIRPORT Primary Trade Area Southland Center Secondary Trade Area Competition Access Roads (AADT= annual average daily traffic) 3 MILES THE CENTER THE MARKET STARWOOD Fairlane Town Center Area Attractions Trinity Health I-96 Ford Field (Detroit Lions) (Livonia) I-75 Comerica Park (Detroit LIVONIA Tigers) 24 39 Henry Ford Health System (HQ) Little Caesars Arena, Fall Wayne State University 2017 (Detroit Red Wings & Detroit Pistons) DEARBORN The Henry Ford Museum of HEIGHTS American Innovation and Greenfield Village Carhartt (HQ) DETROIT 12 Wayne County Colleges 153 Henry Ford Community College AAA Michigan (HQ) Community College University of Michigan – Dearborn DEARBORN Henry Ford Community Ford Motor Co. (HQ) College US Steel – Great Lakes Works University of Michigan — US Government Fairlane Town Center Dearborn 12 Wayne State University Beaumont Health Wayne County Community College USA CANADA Combined enrollment: 73,200 ONTARIO I-94 Legend 39 DETROIT METRO Primary Trade Area WAYNE COUNTY AIRPORT Secondary Trade Area TAYLOR Colleges Key Employers 3 MILES THE CENTER THE MARKET STARWOOD Fairlane Town Center Demographics PTA1 STA2 TTA3 US Avg Population 2019 estimate 646,772 1,128,040 1,774,812 Dense trade area 2024 projection 635,536 1,125,426 1,760,962 population of more than % growth 2019–2024 -1.7% -0.2% -0.8% 3.6% 1.7M people Population White 43% 53% 49% 70% By Race Black 50% 36% 41% 13% 60% of employed residents Asian 1% 5% 3% 6% within 3 miles occupy white Hispanic Ethnicity 6% 7% 6% 18% collar positions Median Age 36 38 37 39 68,600 daytime employees % age 15-24 13% 13% 13% 14% within three miles % age 25 to 44 26% 27% 26% 26% % age 45 to 64 25% 26% 26% 26% Low cost of living Households 2019 estimate 247,655 458,036 705,691 2024 projection 245,066 459,702 704,768 2019 households with kids under 18 35% 32% 33% 34% Average 2019 estimate $57,049 $67,872 $64,074 $89,646 Household % earning $75,000+ 25% 32% 30% 42% Income 2024 projection $64,586 $77,059 $72,716 $98,974 Education % college educated 51% 57% 55% 60% 1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 555 5,174 11,143 42,932 Employment daytime employment 15,502 68,637 124,160 513,908 1 Primary Trade Area 2 Secondary Trade Area 3 Total Trade Area THE CENTER THE MARKET STARWOOD Fairlane Town Center Starwood Retail Partners 5th largest manager of regional malls in the US 30 malls and lifestyle centers, with locations in 11 of the top 20 DMAs 100 million+ combined annual visits $95,400 trade area average household income California Illinois North Carolina Metreon The Arboretum of South Barrington Northlake Mall Northridge Mall Chicago Ridge Mall Parkway Plaza Louis Joliet Mall Ohio Plaza West Covina The Promenade Bolingbrook Belden Village Mall Solano Town Center Franklin Park Mall Indiana Great Northern Mall Colorado Southlake Mall SouthPark Mall Belmar Kentucky Texas Connecticut Hamburg Pavilion The Shops at Willow Bend Hope Mathews / Senior Director, Leasing / 312.373.3586 / Blue Back Square Michigan Virginia [email protected] Florida Fairlane Town Center MacArthur Center The Mall at Wellington Green The Mall at Partridge Creek Stony Point Fashion Park Bill Cikalo / Director, Big Box Leasing & Development / Westland Mall Montana Washington 312.283.5121 / [email protected] Georgia Rimrock Mall Capital Mall The Collection at Forsyth Kitsap Mall Nebraska Brett Madden / Director, National Restaurant and Gateway Mall Entertainment Leasing / 214.448.5011 / bmadden@ starwoodretail.com Sources: The Nielsen Company (2019), State Department of Transportation, State and Local Economic Development Resources Starwood Retail Partners 1 East Wacker Drive Suite 3600 Chicago, IL 60601 www.starwoodretail.com THE CENTER THE MARKET STARWOOD Fairlane Town Center.