(Metro Washington, D.C.) - Virginia Meet the New Fashion Centre at Pentagon City
Total Page:16
File Type:pdf, Size:1020Kb
ARLINGTON (METRO WASHINGTON, D.C.) - VIRGINIA MEET THE NEW FASHION CENTRE AT PENTAGON CITY Just minutes from the heart of Washington, D.C., Fashion Centre at Pentagon City is one of the top performing centers in the U.S. and welcomes millions of visitors to the property each year. The center is part of a dynamic, mixed-use development that includes a 12-story office tower and a Ritz-Carlton luxury hotel. The highly anticipated, multi-phase, $75 million redevelopment of Fashion Centre at Pentagon City has recently been completed. Features include: — A dramatic 50,000-square-foot expansion to the property along Hayes Street which includes a new feature entrance to the shopping center, a new lobby, and two levels of new retail shops, including a flagship Zara, and restaurants featuring matchbox american kitchen + spirit, Shake Shack, honeygrow, and Sugar Factory. — A comprehensive interior renovation featuring architectural upgrades as well as new flooring and soft seating areas. — A remodeled Dining Pavilion, which is the most productive food court in the Simon portfolio. WORLD’S BEST BRANDS Fashion Centre at Pentagon City is home to some of the world’s most notable brands. Apple Lush Allen Edmonds MAC Cosmetics Ann Taylor Michael Kors A|X Armani Exchange Microsoft Boss Hugo Boss Nespresso Coach Sephora Cole Haan Stuart Weitzman Francesca’s Tourneau Henri Bendel Tumi J.Crew White House | Black Market kate spade new york Zara In addition, the center boasts highly productive Nordstrom and Macy’s department stores. STELLAR PERFORMANCE Fashion Center at Pentagon City boasts numerous top performing retailers within the Simon fleet. RANK WITHIN THE NUMBER OF LOCATIONS RETAILER SIMON PORTFOLIO WITHIN THE SIMON PORTFOLIO COMPARABLE TO A|X Armani Exchange 7 20 The Galleria & Lenox Square® ALDO 5 58 The Florida Mall® & Galleria Dallas Ann Taylor 5 41 Town Center at Boca Raton® & Lenox Square Banana Republic 4 60 Fashion Valley & Aventura Mall bareMinerals 1 27 Brea Mall® BOSE 1 13 Burlington Mall® Boss Hugo Boss 4 10 The Forum Shops at Caesars Palace® & Town Center at Boca Raton Chipotle Mexican Grill 1 24 King of Prussia® Cole Haan 4 9 Town Center at Boca Raton & The Westchester Express 2 41 Menlo Park Mall & Dadeland Mall J.Crew 15 48 Dadeland Mall & Walt Whitman Shops® Johnston & Murphy 3 15 The Galleria & Lenox Square kate spade new york 7 15 SouthPark & Town Center at Boca Raton L'Occitane 5 32 Walt Whitman Shops & Fashion Valley MAC Cosmetics 8 23 Fashion Valley & King of Prussia Michael Kors 20 52 SouthPark & Town Center at Boca Raton Microsoft 3 21 Aventura Mall & The Galleria Papyrus 1 27 Lenox Square Sephora 11 66 Lenox Square & St. Johns Town Center® The Art of Shaving 4 31 Roosevelt Field & Lenox Square WHERE THE WORLD SHOPS The center draws from three distinct shopper bases providing a constant flow of traffic throughout the center from day to night. — 55% Local residents drawing from a dense, affluent local trade area. — 25% Daytime office workers. — 30% Tourists (Of those, 40% are international. Washington, D.C. is the 8th highest international tourist destination in the U.S.). DYNAMIC DEMOGRAPHICS 2016 1,202,082 2021 1,235,786 Fashion Centre at Pentagon City draws from the areas of Arlington, Alexandria, Downtown D.C., Capitol Hill, Foggy Bottom and Georgetown. 2016 543,344 — The Washington, D.C. metro area has the 3rd highest number of households with incomes over $150K of the top 20 major 2021 561,364 metropolitan markets. Only New York and Los Angeles have more. — The metro has more households over $200K than the entire markets of either Austin, Texas or Charlotte, North Carolina. 2016 $111,798 — 750,000 people live within five miles of the center with average household incomes of $115,000. 2021 $128,735 2016 1,082,822 2016 $492,306 Source: SPG Research; trade area demographic information per STI: PopStats (2016). Kensington Hillandale Forest Glen Potomac Chevy Chase View Great Falls 16 Silver Spring Crofton North Chevy Chase Adelphi Goddard Chevy Chase Langley Park 3 Berwyn Heights Chevy Chase Section Five Glenn Dale Bethesda Takoma Park Cabin John University Park Herndon Chevy Chase Village TRADE AREA & COMPETITION Glen Echo 11 6 Lanham-Seabrook Friendship Village Chillum Hyattsville East Riverdale Reston 7 Brookmont Edmonston Woodlawn Bowie Simon Centers 4 495 Brentwood Bladensburg Competition Wolf Trap Landover Hills Springdale Woodmore 495 McLean Colmar Manor Glenarden Mitchellville Cheverly 1 Fashion Centre at Pentagon City 15 14 2 Ballston Common Mall Pimmit Hills Lake Arbor 3 Bethesda Row Vienna 66 Fairmount Heights Oakton Dunn Loring 4 Bowie Town Center Idylwood 10Washington Carmody Hills-Pepper Mill Village Kettering 5 Fair Oaks Mall Falls Church Arlington2 Largo Merrield Capitol Heights 6 Mall at Prince Georges 5 8 7 Mazza Gallerie Seven Corners 1 Jeerson District Heights 8 Mosaic District Lake Barcroft Fairfax Mantua Forestville 9 Potomac Mills 295 Suitland-Silver Hill 10 Shops at Georgetown Park Annandale Hillcrest Heights Greater Upper Marlboro 11 The Shops at Wisconsin Place Lincolnia Marlow Heights Morningside 12 Springeld Town Center Alexandria Upper Marlboro 13 Tanger National Harbor Forest Heights Temple Hills Andrews AFB 14 Tysons Corner Center North Springeld Camp Springs Oxon13 Hill-Glassmanor 15 Tysons Galleria Huntington West Springeld Rose Hill 16 Westeld MontgomeryClifton Burke 12 Belle Haven Rosaryville Franconia Groveton TRADE AREA BOUNDARY Marlton Clinton 95 Hybla Valley Fort Washington Friendly Fort Hunt Newington Mount Vernon Fort Belvoir Dunkirk Lorton Brandywine N Lake Ridge 0 5 Occoquan MILES 9 Accokeek Woodbridge Waldorf WASHINGTON D.C. THE BUSINESS OF BUSINESS POTOMAC RIVER Fashion Centre at Pentagon City attracts not only area residents, but also a substantial daytime population from the high concentration of office space surrounding the site. 13 million square feet of office space is within two miles of the center and that THE PENTAGON M number jumps to 22 million square feet within five miles, including: RONALD REAGAN WASHINGTON The Pentagon INTERNATIONAL 6.5M Square feet of office space AIRPORT 26,000 Total daily workers Crystal City 12M Square feet of office space 45,000 Total daily workers Metro Tower at Pentagon City 170,000 Square feet of office space THE FASHION CENTRE 1,000 Total daily workers AT PENTAGON CRYSTAL CITY M M —900,000 workers are within five miles of the center. — Daytime population is boosted by direct access to and from the Blue and Yellow Metro lines (30k passengers on a daily basis). Fashion Centre at M Pentagon City is the #2 Metro stop on the Virginia side of the system (Rosslyn is #1). — Nearby Ronald Reagan Washington International Airport saw domestic commercial passenger activity increase 3.4% in 2016. NORTH DESTINATION SHOPPING Washington, D.C. is second only to New York as the most visited city in the nation and is one of the most popular tourist destinations in the world. On average, 20 million tourists visit the nation’s capital annually. In 2015, Washington, D.C. welcomed: — A record breaking 21.3M visitors. — Two million international visitors. — International visitation increases of 10% Y/Y and a 100% increase over the last decade. — 300,000 annual visitors from China, which overtook the UK in 2013 as the number one country of international visitor origin. In 2015, Washington, D.C. combined domestic and international visitor spending was $7.1 billion, an increase of 4.3% over 2014. — Domestic spending increased 4.4% to $5.2 billion in 2015. — International spending increased 3.6% to $1.9 billion in 2015. — Approximately 40 hotels with a combined 14,000 hotel rooms are within a short distance of the center including the on-site Ritz Carlton with 366 luxury rooms and 21 suites. — The center is close to numerous tourism destinations including the Smithsonian, historic monuments, and the National Mall. WHAT’S NEXT AT FASHION CENTRE AT PENTAGON CITY Plans are currently underway to recapture existing GLA and create a destination area focused on entertainment and dining experiences. WHY FASHION CENTRE AT PENTAGON CITY 1 One of the top performing centers in the United States. 2 Highly productive department stores include Macy’s and Nordstrom. Includes stores such as Apple, Hugo Boss, Cole Haan, Free People, 3 Henri Bendel, J.Crew, kate spade new york, Lush, Microsoft, Stuart Weitzman, Tumi and Tourneau. 4 The most productive food court in the Simon portfolio. Recently completed $75+ million renovation and expansion of property that 5 includes 53,000 square feet of new GLA featuring Shake Shack, 2-level Zara, Matchbox American Kitchen + Spirit, honeygrow, and Sugar Factory. In Washington, D.C. Metro, the 3rd highest market in the U.S. for number of 6 households with incomes over $150k (only New York and Los Angeles have more). 7 Average household income $115k. 750,000 people within 5 miles. 8 13 million square feet of office space within 2 miles, including the U.S. Pentagon. 170,000-square-foot Metro Tower at Pentagon City is attached to the center. 9 1,000 employees work in the tower. 10 900,000 workers within 5 miles of the center. Direct access to Blue and Yellow Metro lines (30k passengers on a daily basis), 11 #2 Metro stop on the Virginia side of the system (Rosslyn is #1). Close proximity to local tourism destinations (Smithsonian, Monuments, 12 National Mall, etc.). Tourism component makes up 30% of our shoppers at the mall. 40% of tourists 13 are international. 40 hotels (with 14,000 hotel rooms) within short proximity to center, including 14 on-site Ritz Carlton (366 luxury rooms and 21 suites). APPENDIX FASHION CENTRE AT PENTAGON CITY—PHASE I FASHION CENTRE AT PENTAGON CITY—PHASE I FASHION CENTRE AT PENTAGON CITY—PHASE I FASHION CENTRE AT PENTAGON CITY—PHASE I FASHION CENTRE AT PENTAGON CITY—PHASE I FASHION CENTRE AT PENTAGON CITY—PHASE I FASHION CENTRE AT PENTAGON CITY—PHASE I FASHION CENTRE AT PENTAGON CITY—PHASE I FASHION CENTRE AT PENTAGON CITY—PHASE I UNPRECEDENTED OPPORTUNITIES Fashion Center at Pentagon City presents a unique opportunity for your brand.