Stony Point Fashion Park Richmond, Virginia While Other Cities Have Remade Themselves with RUTHER GLEN, VA Great Fanfare, Richmond Has Been Evolving
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Stony Point Fashion Park Stony Point Fashion Park Richmond, Virginia While other cities have remade themselves with RUTHER GLEN, VA great fanfare, Richmond has been evolving GLEN ALLEN, VA quietly. Named a top destination by numerous SHORT PUMP, VA travel publications, Richmond has won kudos RICHMOND, VA for its vibrant restaurant scene and strong family orientation. Already home to fine dining, entertainment and 10 MILES internationally known retailers including Saks Fifth Avenue and Tiffany & Co., Stony Point Fashion Park is in the midst of its own evolution, adding parks, an ice skating rink and stage, and reconfiguring tenants to become a welcoming village for families and more. Stony Point Fashion Park Richmond, Virginia • Open-air regional mall combines luxury and better retailers with the best restaurants • First phase of $50 million renovation added amenities including the only outdoor ice rink in Richmond, a play area, fenced dog park, soft seating and more. • Future renovations will add enhanced dining, fashion, entertainment, and pedestrian / vehicle circulation Property Description major roads Chippenham Parkway center description Open-air lifestyle center (Route 150) and Stony anchors Saks Fifth Avenue, Dillard’s, and Dick’s Sporting Goods Point Parkway key tenants CineBistro, Tiffany & Co., BCBG Maxazria, Talbot’s, total sf 675,000 Pandora, Brighton Collectibles, Coach, Anthropologie, # of stores 58 Fleming’s Prime Steakhouse & Wine Bar, Brio Tuscan Grill, Kobe Sushi, Anchor Bar Restaurant and P.F. Chang’s # of parking 3,200 China Bistro THE CENTER THE MARKET STARWOOD Stony Point Fashion Park Starwood’s $50 million renovation will include welcoming common areas, open-air courtyards and green spaces, interactive fountains, new world-class shops and restaurants, and improved accessibility for pedestrians and vehicles. — Starwood Retail Partners, November 2015 THE CENTER THE MARKET STARWOOD Stony Point Fashion Park • Home to only Saks Fifth Avenue in 100 miles • Unique-to-market retailers and restaurants include Tiffany & Co., Brooks Brothers, Sur La Table, Fleming’s Prime Steakhouse, Vineyard Vines and Restoration Hardware • One of only two CineBistro and Restoration Hardware stores in Virginia • Only major ice rink in Richmond A Visible Partnership Accessible by 84,000 cars daily on Luxury apartment complex planned Route 76, 61,000 vehicles on US 60, within walking distance of center and 52,000 cars on Route 150 Strong co-marketing efforts with retailers Located near affluent suburbs including include regular features on local CBS Southampton, Westham, Oxford, Wilton affiliate Road, Reed’s Landing, Hampton Gardens, Windsor Farms, and Tarrington THE CENTER THE MARKET STARWOOD Stony Point Fashion Park “Chefs and restaurant owners say they’re attracted by a wave of adventurous eaters moving in from the suburbs and by the relatively moderate cost of doing business.” — Washington Post, October 2016 • High job growth and affordable housing • Economy driven by bio-sciences, financial services, law, healthcare, energy, state government and a growing tech corridor • Home to nationally recognized colleges, public and private schools • Epicenter for tourism and business visitors A Capital Market Densely populated and growing trade More than 109,000 trade area households area of more than 1 million people earn $100,000+, and 2 in 3 residents are college educated 5 million people visit Richmond annually Daytime employees of 20,900 within 3 Above-average trade area household miles soars to 137,600 employees within income of $81,700, jumps to $116,300 5 miles within 3 miles THE CENTER THE MARKET STARWOOD Stony Point Fashion Park • Home to six Fortune 500 companies Trade Area Average Household Expenditures • One of the most rich and diverse cultural destinations in $2,375 on food away from home, on par with US the country $1,835 on apparel, on par with US $964 on personal care • More than 200 historical sites and landmarks, museums, products and services, 5% festivals and sporting events above US $889 on sports and recreation, 9% above US • Flourishing fine dining scene, home to world-renowned chefs $678 on home furnishings, 8% above US THE CENTER THE MARKET STARWOOD Stony Point Fashion Park Distance to Competition Chesterfield Towne Center Driving – 6 mi, 11 min Regency Square Driving – 5 mi, 7 min The Shops at Willow Lawn Short Pump Town Center Driving – 6 mi, 12 min LAUREL Short Pump Town Center Driving – 11 mi, 15 min Regency Square WWII Veterans Memorial Hwy (Route 288) 43,000 AADT The Shops at Willow Lawn Huguenot Road (Route 147) Stony Point Fashion Park 33,000 AADT RICHMOND Midlothian Turnpike (US 60) Chesterfield Towne Center 61,000 AADT Powhite Parkway (Route 76) 84,000 AADT Legend Chippenham Parkway (Route 150) Trade Area 52,000 AADT Competition Access Roads (AADT= annual average daily traffic) 3 MILES THE CENTER THE MARKET STARWOOD Stony Point Fashion Park Area Attractions Virginia State Capitol 431,346 CarMax (HQ) I-295 Richmond International Capital One I-64 Speedway (NASCAR) I-95 Richmond Coliseum American Civil War Center Genworth Financial (HQ) The Fan – largest collection Altria Group (HQ) Daytime Employees 36,466 of Victorian homes in the country 137,611 Bon Secours Historic and recreational Health System James River Businesses Virginia Museum of Fine Arts 12,619 20,894 150 2,041 Colleges Virginia Commonwealth Stony Point Fashion Park 44,689 159,049 Residential Population 640,348 University VCU/MCV Health Systems J. Sergeant Reynolds $116,262 NewMarket Corp (HQ) Community College Dominion Resources (HQ) WestRock (HQ) 288 John Tyler Community 147 3 mi. $96,115 Federal Reserve Bank College Household Income 5 mi. University of Richmond Combined enrollment 62,700 $79,241 10 mi. Legend 76 Demographics Key Employers 3 MILES Dupont THE CENTER THE MARKET STARWOOD Stony Point Fashion Park Demographics 3 Miles 5 Miles TTA1 US Avg Population 2016 estimate 44,689 159,049 1,034,407 Richmond named #1 2021 projection 46,042 164,570 1,086,757 destination for global food % growth 2016–2021 3.0% 3.5% 5.1% 3.7% travelers in 2016 Population White 83% 74% 61% 71% — National Geographic Traveler By Race Black 11% 17% 29% 13% Asian 3% 4% 5% 5% Named a Top Global Hispanic Ethnicity 4% 6% 6% 18% Destination in 2014 Median Age 43 40 38 38 — Frommer’s % age 15-24 17% 12% 14% 14% % age 25 to 44 19% 27% 27% 26% No. 4 Hottest Housing % age 45 to 64 29% 27% 27% 26% Market 2016 Households 2016 estimate 17,544 67,277 405,356 — Zillow 2021 projection 18,153 69,783 426,114 No. 3 Top Places to Travel 2016 households with kids under 18 29% 28% 33% 34% 2016 Average 2016 estimate $116,262 $96,115 $81,747 $77,135 Household — Travel & Leisure % earning $75,000+ 51% 43% 40% 36% Income 2021 projection $121,194 $101,368 $85,703 $83,619 Education % college educated 80% 74% 64% 59% 1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 551 2,041 12,619 36,466 Employment daytime employment 5,750 20,894 137,611 431,346 1 Total Trade Area THE CENTER THE MARKET STARWOOD Stony Point Fashion Park Predominant Market Lifestyle Segments Young Achievers & Accumulated Wealth—20% Accumulators —22% • Families & couples age 50+ • Married, upper-middle class • Upscale, college-educated families with children baby boomers • Tech savvy singles and couples • Sprawling suburban homes • Mix of mid-career, professional • Disposable cash and and managerial jobs sophisticated tastes • Enjoy the outdoors and • Enjoy top-of-the-line entertainment activities electronics, sporting • Favor team sports and kid- equipment, cars and friendly technology vacations Cautious Traditionalists—15% Affluent Empty Nesters—9% • Over 55 year-old mix of • Upscale couples age 45+ singles and couples with children • High rate of home ownership • College-educated holding • Fans of reading, home-based executive and professional hobbies and travel positions • Enjoy eating out at family • Disposable cash with active restaurants lifestyles • Pursue entertainment outside • Involved in the community the home • Indulge in travel, cultural events, and exercise equipment THE CENTER THE MARKET STARWOOD Stony Point Fashion Park 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