The Mall at Wellington Green Wellington, (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 The Beauty & The Beeeef Burger Bar and Lemongrass, opening soon A new upscale Paragon Theater with Cask & Shaker 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 Nordstrom, Macy’s, JCPenney, Dillard’s, Paragon (Route 882) Theater, and City Furniture/Ashley total sf 1,270,000 key tenants Apple, Banana Republic, Brighton Collectibles, Chico’s, # of stores 150 Swarovski, Tommy Bahama, Pandora, Lush Cosmetics, # of parking 7,600 and L’Occitane en Provence 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 Kreations Boutique, bringing multiple fashion jewelry lines together under one roof Other new stores include Body & Sole Spa, 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 31% population growth 2010-2023 28,000 new households projected 43% of households have children under 18 by 2023 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 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 2018 estimate 304,125 727,766 1,031,891 Population growth double 2023 projection 328,534 777,103 1,105,637 the US (7.2% vs. 3.5%) % growth 2018–2023 8.0% 6.7% 7.2% 3.5% Population White 69% 67% 67% 70% Surrounded by high- By Race Black 19% 21% 20% 13% income households Asian 4% 3% 3% 6% ($138,100 average within Hispanic Ethnicity 28% 24% 25% 18% 1 mile) Median Age 42 44 43 38 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 2018 estimate 107,233 299,404 406,637 2023 projection 114,894 319,259 434,153 2018 households with kids under 18 37% 27% 30% 34% Average 2018 estimate $92,607 $86,046 $87,776 $86,278 Household % earning $75,000+ 46% 39% 41% 40% Income 2023 projection $103,441 $96,981 $98,691 $95,107 Education % college educated 63% 61% 61% 59% 1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 722 3,215 7,392 24,692 Employment daytime employment 7,290 27,543 65,900 209,942 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 $84,600 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 Blue Back Square Michigan Virginia Charles Cristella / Director, Leasing / 215.341.7520 / Florida Fairlane Town Center MacArthur Center [email protected] The Mall at Wellington Green The Mall at Partridge Creek Stony Point Fashion Park Westland Mall Montana Washington Bill Cikalo / Director, Big Box Leasing & Development / Georgia Rimrock Mall Capital Mall The Collection at Forsyth Kitsap Mall 312.283.5121 / [email protected] Nebraska Gateway Mall Tim Martin / Director, National Restaurant and Entertainment Leasing – East / 813.455.0651 / [email protected] Sources: The Nielsen Company (3/27/18), State Department of Transportation, State and Local Economic Development Resources Starwood Retail Partners 05/16/18 1 East Wacker Drive Suite 3600 Chicago, IL 60601 www.starwoodretail.com THE CENTER THE MARKET STARWOOD The Mall at Wellington Green.