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Northridge Mall Salinas, California a Redevelopment Is Bringing

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Northridge Mall Salinas, California a Redevelopment Is Bringing Northridge Mall Northridge Mall Salinas, California A redevelopment is bringing exciting new dining, entertainment SANTA CRUZ, CA GILROY, CA and retail HIGHWAY 101 Monterey County’s largest shopping center MONTEREY BAY HIGHWAY 1 A new JCPenney prototype store SALINAS, CA Young, multicultural and family- MONTEREY, CA oriented community 10 MILES Northridge Mall Salinas, California Only enclosed mall between San Jose and Santa Maria Serves the largest population base between Los Angeles and San Jose Multi-million dollar redevelopment will add co-working spaces, fitness facilities, restaurants, & services Property Description major roads US Highway 101 and center description Enclosed, one-level center Boronda Road anchors Macy’s, JCPenney, Sears, Forever 21 and Round 1 total sf 1,000,000 key tenants Victoria’s Secret, Best Buy, H&M, Hollister, Old Navy, # of stores 100 New York & Company, Disney, DSW, Ulta, Miniso, Skechers, Pandora, Carters/Osh Kosh, Hollister, 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 with the largest Sephora department in the US Exciting new dining, retail and entertainment uses include Miniso, Pandora, Bath & Body Works, and entertainment concept Round 1 Recently opened Ulta, DSW, Skechers and Carter’s/Osh Kosh A host of interior & exterior improvements including a new main entrance and Grand Court 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 in the economic center of Monterey County Strong multicultural consumer base Large, family-oriented market with high commercial density Anchor sales above national average Core of the Community Easily accessible to 100,000+ 173,000 residents and 57,700 daytime vehicles daily employees within 5 miles Public transit connects Salinas to San Above average household expenditures Jose, Gilroy and Monterey County cities THE CENTER THE MARKET STARWOOD Northridge Mall THE CENTER THE MARKET STARWOOD Northridge Mall Young and growing residential market Diverse economy with businesses relocating from Silicon Valley Lower cost of living compared to other trade area communities Strong tourism base Salad Days Salinas produces 80% of the nation’s 49% of households have children lettuce under 18 $4B agriculture industry & $2.3B tourism Nearly 70% of residents are 44 or industry younger vs. 58% nationally Home to several military training facilities 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 Primary Trade Area MARINA SALINAS 21,100 AADT MUNICIPAL Secondary Trade Area AIRPORT MONTEREY SALINAS Competition REGIONAL MUNICIPAL Access Roads AIRPORT AIRPORT (AADT= annual average MONTEREY 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 Primary Trade Area Middlebury Institute REGIONAL of International Studies AIRPORT Secondary Trade Area at Monterey Colleges Key Employers 3 MILES THE CENTER THE MARKET STARWOOD Northridge Mall Demographics PTA1 STA2 TTA3 US Avg Population 2018 estimate 216,265 287,973 504,238 Population growth 2023 projection 225,892 301,088 526,980 continues to out-pace % growth 2018–2023 4.5% 4.5% 4.5% 3.5% California and US Population White 49% 50% 49% 70% By Race Black 2% 4% 2% 13% Average household size of Asian 6% 5% 5% 6% 3.5 people vs. 2.6 nationally Hispanic Ethnicity 71% 67% 69% 18% Household furnishings, Median Age 32 33 32 38 personal care, apparel, and % age 15-24 15% 15% 15% 14% food outside the home % age 25 to 44 28% 29% 28% 26% expenditures trend above % age 45 to 64 22% 22% 22% 26% US average Households 2018 estimate 60,928 77,889 138,817 2023 projection 63,679 81,732 145,411 2018 households with kids under 18 49% 49% 49% 34% Average 2018 estimate $85,132 $82,045 $83,400 $86,278 Household % earning $75,000+ 40% 41% 40% 40% Income 2023 projection $95,419 $90,260 $92,519 $95,107 Education % college educated 42% 43% 43% 59% 1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 483 2,184 6,149 8,101 Employment daytime employment 6,678 22,714 57,654 80,573 1 Primary Trade Area 2 Secondary Trade Area 3 Total Trade Area THE CENTER THE MARKET STARWOOD Northridge Mall 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 $84,600 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 Steve Fahrbach / Senior Director, Leasing / 650.726.2450 / Indiana Great Northern Mall Colorado Southlake Mall SouthPark Mall [email protected] Belmar Kentucky Texas Connecticut Hamburg Pavilion The Shops at Willow Bend Austin Pye / Associate, Leasing / 773.541.2862 / 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 Bryant Siragusa / Vice President, National Restaurant and Gateway Mall Entertainment Leasing / 214.771.2003 / [email protected] Sources: The Nielsen Company (3/27/18), State Department of Transportation, State and Local Economic Development Resources Starwood Retail Partners 05/16/18 1 East Wacker Drive Suite 3600 Chicago, IL 60601 www.starwoodretail.com THE CENTER THE MARKET STARWOOD Northridge Mall.
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