West Palm Beach) Florida Beautiful, Mediterranean Style Super- Regional Center in Palm Beach County
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The Mall at Wellington Green The Mall at Wellington Green Wellington, (West Palm Beach) Florida Beautiful, Mediterranean style super- regional center in Palm Beach County Multi-phase redevelopment underway PALM BEACH GARDENS, FL Adding new-to-market dining, entertainment and unique retail WEST PALM BEACH, FL Diverse market of affluent and middle- class residents, professionals and visitors BOCA RATON, FL 10 MILES The Mall at Wellington Green Wellington, (West Palm Beach) Florida Enclosed two-level super-regional mall Lemongrass, now open and Ford’s Garage, opening soon A new upscale Paragon Theater with Cask & Shaker Craft Bar and Kitchen Mix of popular 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 Macy’s, JCPenney, Dillard’s, Paragon Theater, and City (Route 882) Furniture/Ashley total sf 1,270,000 key tenants Apple, Alex and Ani, Brighton Collectibles, # of stores 150 Chico’s, Swarovski, Tommy Bahama, Pandora and # of parking 7,600 Lush Cosmetics THE CENTER THE MARKET STARWOOD The Mall at Wellington Green Redevelopment Highlights A 10-screen Paragon Theater with a Cask & Shaker Craft Bar and Kitchen, now open Ford’s Garage, with the ambiance of being in a service station in the 1920s with vintage Ford vehicles and gas pumps, will specialize is gourmet burgers and American craft beer. Other new stores include Alex and Ani, Windsor, Francesca’s Collection, Apricot Lane and Carter’s/ Osh Kosh Additional dining, services, and fashion coming soon 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 new commercial development near the mall Surrounded by approximately 15,000 new homes A Growing Vision for South Florida Excellent visibility and daily access to Region’s economy bolstered by well over 100,000 vehicles 143,000-plus seasonal residents Convenient parking with 7,600 spaces THE CENTER THE MARKET STARWOOD The Mall at Wellington Green THE CENTER THE MARKET STARWOOD The Mall at Wellington Green Unprecedented residential growth More than 40 companies headquartered in the region Economy dominated by tourism, construction and agriculture An international destination for equestrian enthusiasts New Residents, New Homes Densely populated trade area with Within 3 miles: 1M people 32% population growth 2010-2024 Almost 30,000 new households 44% of households have children under 18 projected by 2024 1 in 2 households earn $100,000+ 80% home ownership THE CENTER THE MARKET STARWOOD The Mall at Wellington Green 706 JUPITER Distance to Competition 710 Boynton Beach Mall Driving – 16 mi, 23 min The Gardens Mall City Place PALM BEACH GARDENS Driving – 13 mi, 19 min Florida’s Turnpike Palm Beach Outlets 67,000 AADT Driving – 12 mi, 17 min WEST The Gardens Mall PALM Driving – 21 mi, 29 min 98 Highway 98/Southern Blvd Palm Beach Outlets BEACH 69,500 AADT ROYAL PALM City Place Town Center At Boca Raton BEACH Driving – 24 mi, 27 min BELLE GLADE PALM BEACH INT’L AIRPORT Forest Hill Blvd 45,500 AADT The Mall at Wellington Green LAKE WORTH Lake Worth Road 37,500 AADT 441 Boynton Beach Mall Legend 58,500 AADT Primary Trade Area Secondary Trade Area DELRAY BEACH Competition Access Roads I-95 (AADT= annual average daily traffic) BOCA RATON 3 MILES Town Center at Boca Raton THE CENTER THE MARKET STARWOOD The Mall at Wellington Green Pratt & Whitney (Jupiter) Area Attractions Sikorsky Aircraft Walgreens Distribution Center West Palm Beach – Florida’s (Jupiter) (Jupiter) WEST Gold Coast PALM International Polo Club Palm BEACH Beach Keiser University Florida Crystals (HQ) Palm Beach International ROYAL PALM BEACH Florida Career College Palm Beach Atlantic University Equestrian Center Houston Astros and U.S. Sugar Corporation South University – West Palm Beach Washington Nationals new (Clewiston) PALM BEACH spring training complex INT’L AIRPORT 98 Florida Marlins and St. Louis Palm Beach State College South Florida Water Cardinals spring training at Mgmt. District Roger Dean Stadium I-95 WELLINGTON Colleges A. Duda & Sons Palm Beach State College The Mall at Wellington Green South University – West Palm Beach Palm Beach Atlantic University Keiser University LAKE WORTH Palm Beach State College Florida Career College Combined Enrollment 73,400 LANTANA Legend AIRPORT Primary Trade Area 441 Secondary Trade Area Bethesda Health Colleges (Boynton Beach) Key Employers 3 MILES Thomas Produce Co (HQ) (Boca Raton) THE CENTER THE MARKET STARWOOD The Mall at Wellington Green Demographics PTA1 STA2 TTA3 US Avg Population 2019 estimate 308,782 741,944 1,050,726 Population growth double 2024 projection 333,160 793,220 1,126,380 the US (7.2% vs. 3.6%) % growth 2019–2024 7.9% 6.9% 7.2% 3.6% Population White 68% 66% 67% 70% Surrounded by high- By Race Black 19% 21% 21% 13% income households Asian 4% 3% 3% 6% ($134,500 average within Hispanic Ethnicity 28% 24% 26% 18% 1 mile) Median Age 42 44 43 39 Multicultural, family- % age 15-24 13% 11% 11% 14% oriented market with top- % age 25 to 44 24% 24% 24% 26% ranked school system % age 45 to 64 28% 25% 26% 26% Households 2019 estimate 109,261 305,055 414,316 2024 projection 116,936 325,538 442,474 2019 households with kids under 18 38% 27% 30% 34% Average 2019 estimate $95,799 $88,410 $90,359 $89,646 Household % earning $75,000+ 47% 39% 41% 42% Income 2024 projection $106,263 $98,073 $100,237 $98,974 Education % college educated 62% 60% 61% 60% 1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 794 3,559 8,270 26,809 Employment daytime employment 7,078 27,320 64,555 240,571 1 Primary Trade Area 2 Secondary Trade Area 3 Total Trade Area THE CENTER THE MARKET STARWOOD The Mall at Wellington Green 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 Charles Cristella / Director, Leasing / 215.341.7520 / 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 Gateway Mall and Entertainment Leasing / 214.448.5011 / [email protected] Sources: The Nielsen Company (3/27/18), State Department of Transportation, State and Local Economic Development Resources Starwood Retail Partners 05/03/19 1 East Wacker Drive Suite 3600 Chicago, IL 60601 www.starwoodretail.com THE CENTER THE MARKET STARWOOD The Mall at Wellington Green.