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The Mall at Wellington Green Wellington, (West Palm Beach) The Mall at Wellington Green The Mall at Wellington Green Wellington, (West Palm Beach) Florida When you see the stunningly beautiful Mall at Wellington Green and note its location in Palm Beach County, Florida, it’s easy to assume that it caters solely PALM BEACH GARDENS, FL to the affluent who live, winter or visit here. WEST PALM BEACH, FL But there’s more to this market — and this mall. Wellington and environs are home to middle-class, multicultural, multigenerational professionals, too. BOCA RATON, FL 10 MILES They want the best fashion and home furnishing brands that offer style and value — and a community dining and entertainment core around a state-of-the- art Paragon cinema opening this year. As it continues to evolve, The Mall at Wellington Green serves them all. The Mall at Wellington Green Wellington, (West Palm Beach) Florida • Enclosed two-level super-regional mall • 10-screen Paragon cinema opening 2016 • At the geographic center of Palm Beach County • Mix of anchors serves economically diverse community Property Description major roads US Highway 441 (Route 7) center description Enclosed, two-level center and Forest Hill Boulevard anchors Nordstrom, Macy’s, JCPenney, Dillard’s, (Route 882) and City Furniture/Ashley total sf 1,270,000 key tenants Apple, Banana Republic, Bebe, Brighton Collectibles, # of stores 150 Chico’s, Swarovski, Tommy Bahama, BCBGeneration, Pandora, Lush Cosmetics, L’Occitane en Provence, # of parking 7,600 and Williams Sonoma THE CENTER THE MARKET STARWOOD The Mall at Wellington Green “The Mall at Wellington Green is a beautiful blend of Mediterranean style and local architectural traditions, … a popular destination for families.” — PalmBeachFl.com THE CENTER THE MARKET STARWOOD The Mall at Wellington Green • Mix of better, fast fashion, unique-to- market and in-demand specialty tenants • Zoning regulations limit commercial development near the mall, reducing potential competition • Upscale Paragon cinema to include dining and bar/lounge • New residential development in nearby communities A Growing Vision for South Florida Excellent visibility and daily access to Convenient parking with 7,600 spaces 69,500 vehicles on Highway 98, 67,000 Region’s economy bolstered by 143,000- cars on Florida’s Turnpike and 58,500 plus seasonal residents cars on Highway 441 THE CENTER THE MARKET STARWOOD The Mall at Wellington Green “A premier shopping destination” — VisitFlorida.com • Unprecedented residential growth • More than 40 companies headquartered in the region • Economy dominated by tourism, construction and agriculture • The Winter Equestrian Festival and International Polo Club Palm Beach make Wellington an international destination for equestrian enthusiasts New Residents, New Homes Trade area projected to add 55,900 Within 3 miles: residents, reaching 884,800 people by 30% population growth 2010 – 2021 2021 44% of households have children under 18 Growing market in search of affordable housing compared with coastal markets 53% of households earn $75,000+ 11,000 new single-family homes under Daytime employment of 29,400 more construction in the area than doubles to 66,900 within 5 miles THE CENTER THE MARKET STARWOOD The Mall at Wellington Green • Mix of affluent and aspirational shoppers Trade Area Average Household Expenditures • Growing Hispanic and Latino customer base on Par With US $2,328 on food away from home • Closely knit, family-oriented community $1,650 on apparel $937 on personal care products and services • 74% home ownership with 1 in 4 housing units $742 on sports and built since 2000 recreation $617 on home furnishings THE CENTER THE MARKET STARWOOD The Mall at Wellington Green Distance to Competition Boynton Beach Mall Driving – 16 mi, 23 min The Gardens Mall PALM BEACH City Place GARDENS Driving – 13 mi, 19 min Florida’s Turnpike Palm Beach Outlets 67,000 AADT Driving – 12 mi, 17 min The Gardens Mall Driving – 21 mi, 29 min 98 Highway 98/Southern Blvd Palm Beach Outlets WEST PALM BEACH 69,500 AADT City Place Town Center At Boca Raton PALM BEACH INT’L AIRPORT Driving – 24 mi, 27 min Forest Hill Blvd 45,500 AADT The Mall at Wellington Green Lake Worth Road 37,500 AADT Legend Boynton Beach Mall Trade Area 441 58,500 AADT BOYTON BEACH Competition Access Roads (AADT= annual average daily traffic) 3 MILES Town Center at Boca Raton BOCA RATON THE CENTER THE MARKET STARWOOD The Mall at Wellington Green Pratt & Whitney Rocketdyne (Jupiter) 10 mi. Sikorsky Aircraft Walgreens Distribution Center Area Attractions 219,368 (Jupiter) (Jupiter) West Palm Beach – Florida’s Gold Coast International Polo Club Palm Beach Florida Crystals (HQ) Palm Beach International Equestrian Center Daytime Employees 5 mi. 26,130 Houston Astros and Washington Nationals new 66,949 spring training complex 98 Florida Marlins and St. Louis 3 mi. Businesses Cardinals spring training at 7,925 Roger Dean Stadium 29,402 I-95 3,511 Colleges A. Duda & Sons Palm Beach State College The Mall at Wellington Green 66,267 194,396 Residential Population 641,043 South University - West Palm Beach $102,254 Palm Beach Atlantic University $80,340 Keiser University Household Income Florida Career College Combined Enrollment 73,400 $71,471 Legend 441 Demographics Key Employers 3 MILES Thomas Produce Co (HQ) (Boca Raton) THE CENTER THE MARKET STARWOOD The Mall at Wellington Green Demographics 3 Miles 5 Miles TTA1 US Avg Population 2016 estimate 66,267 194,396 828,962 ‘Golf Capital of the World’ 2021 projection 73,366 210,665 884,812 — Palm Beach County % growth 2016–2021 10.7% 8.4% 6.7% 3.7% Population White 70% 69% 67% 71% Top-ranked school system By Race Black 17% 18% 21% 13% – home to some of the best Asian 6% 4% 3% 5% public and private schools in Hispanic/Latino Ethnicity 23% 28% 25% 18% the nation Median Age 39 41 44 38 — GreatSchools.org % age 15-24 15% 13% 12% 14% % age 25 to 44 23% 23% 23% 26% West Palm Beach ranked % age 45 to 64 30% 27% 25% 26% as the top Florida city for business Households 2016 estimate 21,566 70,919 323,795 — Forbes 2021 projection 23,601 76,236 343,808 2016 households with kids under 18 44% 36% 30% 34% Average 2016 estimate $102,254 $80,340 $73,170 $77,135 Household % earning $75,000+ 53% 39% 33% 36% Income 2021 projection $111,697 $87,227 $79,025 $83,619 Education % college educated 71% 61% 58% 59% 1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 761 3,511 7,925 26,130 Employment daytime employment 7,472 29,402 66,949 219,368 1 Total Trade Area THE CENTER THE MARKET STARWOOD The Mall at Wellington Green Predominant Market Lifestyle Segments Cautious Traditionalists—19% Conservative Classics—19% • Over 55 year-old mix of • Upper-middle-class age 55+ singles and couples • Childless singles and couples • High rate of home ownership • College-educated • Fans of reading, home-based • Enjoy comforts of home, hobbies and travel gardening, reading, and • Enjoy eating out at family entertaining restaurants • Frequent patrons to • Pursue entertainment outside museums, the theater, and the home casual-dining restaurants Sustaining Families—16% Midlife Success—10% • Urban, multi-cultural mix • Singles & couples in their 30’s • Younger to middle-age and 40’s • Middle-class families, blend of • Wealthiest of the Younger kids, singles and couples Years class • Modest lifestyles, aspirational • College-educated with six- shoppers figure incomes • Enjoy a wide variety of media • Executive and professional jobs • Fans of technology, financial products, and travel THE CENTER THE MARKET STARWOOD The Mall at Wellington Green 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 Northridge Mall Chicago Ridge Mall Parkway Plaza Louis Joliet Mall Ohio Belden Village Mall Plaza West Covina The Promenade Bolingbrook / Senior Director, Leasing / 781.526.9800 / Solano Town Center Franklin Park Mall Jonathan Kaplan 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 Michael Powers / Vice President, Leasing - East / 312.242.3208 / 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 11/05/16 Starwood Retail Partners 1 East Wacker Drive Suite 3600 Chicago, IL 60601 www.starwoodretail.com THE CENTER THE MARKET STARWOOD The Mall at Wellington Green.
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