Tacoma (Seattle), Washington the Tacoma Transformation
Total Page：16
File Type：pdf, Size：1020Kb
BUSINESS CARD DIE AREA 225 West Washington Street Indianapolis, IN 46204 (317) 636-1600 simon.com Information as of 5/1/16 Simon is a global leader in retail real estate ownership, management and development and an S&P 100 company (Simon Property Group, NYSE:SPG). TACOMA (SEATTLE), WASHINGTON THE TACOMA TRANSFORMATION Nestled between Seattle and Olympia, Tacoma is quickly becoming a beacon for economic growth in the South Sound region. The third largest city in the state of Washington, Tacoma serves a market of more than one million people. — The market has grown 15% over the past ten years and is projected to grow by 62% (127,000 people) over the next 25 years. — A popular tourist destination, Tacoma boasts an idyllic setting with stunning water and mountain views and over 2,700 hotel rooms. Pierce County visitor spending topped $1 billion in 2015 (45.4% was in Tacoma). — Economic development in the area is booming. Plans are underway to build a large residential and commercial project just three miles from Tacoma Mall. The 6.4-acre mixed-use project will feature 360 residential units, 90,000 square feet of offices, plus 480 parking stalls. — The 119,000-square-foot convention center hosted 210 events in 2016. — As a result of the successful 2015 PGA US Open, Chambers Bay Golf Course is building a 160 room $45 million hotel and spa. — Tacoma is considered a top-10 market nationwide for multi- family investment. In 2017, Tacoma will be third in the nation for income growth. THE BUSINESS OF BUSINESS Tacoma serves as the center of business activity for the South Sound region and is a major gateway port for international trade. The Port of Tacoma is the sixth largest container- handling port in North America and ranks in the top 25 for worldwide container trade. Located on 2,400 acres, the port services more than 15 steamship lines, two transcontinental railroads, 200 interstate and intrastate trucking lines, and 20 air freight forwarders. Port activities generate more than 28,000 jobs and $477 million in wages in Pierce County. Top employers in the area include: — MultiCare Health System — Franciscan Health System — Boeing — Intel — Columbia Bank — Joint Base Lewis-McChord — State Farm Insurance — Group Health Cooperative — Regence Blue Shield Top industries: — Aerospace — Health Care — Financial Services — Military WELL-EDUCATED WORKFORCE The area boasts numerous colleges and universities. — University of Washington, Tacoma - 4,600 students — University of Puget Sound - 2,800 students — Pacific Lutheran University - 3,500 students — Evergreen College - 4,200 students ARTS & CULTURE Tacoma’s downtown boasts an impressive Museum District featuring six world-class museums showcasing some of the world’s best collections and unique artwork. — The Museum of Glass is home to famous works by glass art pioneer Dale Chihuly. The 75,000-square-foot museum hosts over 150,000 visitors annually. The famous Chihuly Bridge of Glass is a 500-foot-long pedestrian overpass that links the museum to downtown Tacoma and its cultural corridor. — The Tacoma Art Museum, celebrating 80 years, features more than 4,500 works and is home to The Haub Family Collection, one of the nation’s premier Art of the American West collections featuring 300 works spanning 200 years. — LeMay - America’s Car Museum, is situated on nine acres and hosts the largest personal car collection in the world attracting 400,000 visitors annually. — Washington State History Museum highlights the state’s history through in-depth exhibitions. — At the Children’s Museum of Tacoma, children of all ages enjoy a one-of-a-kind experience. — Foss Waterway Seaport is a century-old restored shipping warehouse and maritime heritage educational center. HIGH TECH MEETS HIGH STYLE Tacoma Mall is the premier shopping destination for the South Puget Sound region. — Serves a strong upper-middle class suburban population. — Strong daytime population of 168,000 people within just three miles of the center. BY THE NUMBERS Anchored by Six Major Retailers Nordstrom, Macy’s, JCPenney, Sears, Forever 21, Dick’s Sporting Goods (opening 2017) Square Footage Tacoma Mall spans 1,313,000 square feet. Single Level Boasting more than 150 specialty stores. Restaurants Numerous delicious dining options complement the shopping experience with five full-service restaurants and over 20 other delicious eateries. IN GOOD COMPANY Distinctive. Classic. Fashion-Forward. Many fine brands have chosen Tacoma Mall as their preferred location in the Puget Sound market. — The Art of Shaving — Bath & Body Works — Build-A- Bear Workshop — The Cheesecake Factory — Express — Forever 21 — Gap — Gene Juarez Salon & Spa — Hollister — Lush — Pandora — Teavana POSITIONED TO SUCCEED Tacoma Mall is located in Pierce County, Washington, four miles southwest of downtown Tacoma. 2016 478,863 2021 499,885 — Tacoma Mall has both great visibility and accessibility from I-5, the major north-south interstate running through Tacoma, helping the center serve the entire Puget Sound region. 2016 183,864 — I-5 has an annual average daily traffic count (AADT) 2021 192,165 of 197,400 vehicles. The center is located just off I-5 between 38th and 48th Streets. — The center also benefits from its close proximity to 2016 $69,157 Highway 16 providing easy access to Gig Harbor and 2021 $75,852 surrounding areas (Tacoma Narrows Bridge 81,136 AADT). — In 2016 Pierce County saw a big increase in new residents from within the United States. Of the more than 3,100 counties in the nation, no area saw a 2016 211,125 greater jump in the net number of new residents than Pierce and Snohomish. They ranked No. 1 and No. 2, respectively, for a net increase in people moving domestically. 2016 $277,232 Information as of 5/1/17. Source: SPG Research; trade area demographic information per STI: PopStats (2016). y yy Tukwila Renton East Renton Highlands Burien 7 Mirrormont Cascade-Fairwood SeaTac Maple Heights-Lake Desire Normandy Park Vashon Hobart 5 East Hill-Meridian Kent Des Moines 4 Maple Valley Covington Allyn-Grapeview Ravensdale TRADE AREA BOUNDARY Lake Morton-Berrydale Gig Harbor Lakeland North Lea Hill 3 Black Diamond Artondale Federal Way Auburn Ruston 5 Lakeland South Algona Pacic Milton Fox Island Tacoma Fircrest Fife Edgewood University Place 1 Sumner Waller Enumclaw Puyallup Bonney Lake Midland Steilacoom Summit Buckley Lakewood 6 Prairie Ridge Parkland McChord AFB South Prairie South Hill DuPont Fort Lewis Wilkeson 5 Orting Spanaway Frederickson Carbonado Lacey Elk Plain 2 Olympia Graham N Nisqually Indian Community 0 5 Roy MILES Tumwater North Yelm 1 Tacoma Mall 5 The Outlet Collection Seattle TRADE AREA & COMPETITION 2 Capital Mall 6 South Hill Mall Simon Center 3 The Commons at Federal Way 7 Westeld Southcenter Competition 4 Kent Station S. 38TH ST. S. STEELE ST. S. PINE ST. SEARS MACY’S 5 FOREVER 21 CHIPOTLE MEXICAN GRILL NORDSTROM PANERA BREAD T A C O M JCPENNEY A M A L H&M L B DICK’S SPORTING GOODS L OPENING LATE SUMMER THE V MOD PIZZA D S. 47TH ST. CHEESECAKE . FACTORY MENCHIES BJ’S RESTAURANT & BREWHOUSE BLAZING ONION BURGER COMPANY S. 48TH ST. N AERIAL OVERVIEW KEY DEPARTMENT STORES TOYS “R” US ANCHOR STORES RESTAURANTS STEELE ST. STEELE RETAIL S. PINE ST. PINE S. PIER 1 IMPORTS SEARS 5 FOREVER 21 MACY’S CHIPOTLE MEXICAN GRILL PANERA BREAD NORDSTROM T A C JCPENNEY O DICK’S M SPORTING A GOODS M A H&M L THE L CHEESECAKE MOD PIZZA B L FACTORY V MENCHIE’S D BJ’S RESTAURANT . & BREWHOUSE BLAZING ONION S. 48TH ST. BEST BUY BABIES “R” US N SITE PLAN UNIQUE OPPORTUNITY Tacoma Mall presents a unique opportunity for your brand. Please contact the following leasing professional for more information. Chris Reynolds (206) 295-3230 [email protected] 225 West Washington Street Indianapolis, IN 46204 (317) 636-1600 simon.com Simon is a global leader in retail real estate ownership, management and development and an S&P 100 company (Simon Property Group, NYSE:SPG)..