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Fairlane Town Center Dearborn, (Detroit) Michigan

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Fairlane Town Center Dearborn, (Detroit) Michigan Fairlane Town Center Fairlane Town Center Dearborn, (Detroit) Michigan The best and well-established location in a resurging market — what more can a regional mall ask for? NOVI, MI Fairlane Town Center could ask for a Fortune 10 LIVONIA, MI DETROIT, MI headquarters operation to open office space nearby. But it did something even better. DEARBORN, MI TAYLOR, MI CANADA Ford Motor Corp.’s research & development division will join Fairlane as an office anchor, literally turning 10 MILES this well-located shopping core into a multi-use development. Fairlane Town Center will serve a growing core of technology professionals, shoppers from nearby Detroit, and a multi-generational, ethnically diverse core of residents who want a place to shop and meet. Welcome to the future. Fairlane Town Center Dearborn, (Detroit) Michigan • Enclosed tri-level super-regional mall in the prospering suburb of Dearborn • Redevelopment includes conversion of one wing to office space for Ford Motor Corporation research and development, bringing more than 2,100 high-earning, educated professionals to the center daily • Mall reconfiguration and tenant improvements include H&M and AMC Theater renovations Property Description major roads US Highway 12 and State center description Enclosed, three-level center Route 39 anchors Macy’s, JCPenney, Sears, AMC Theatres total sf 1,400,000 key tenants LA Fitness, Pink, H&M, Forever 21, Aldo, Hollister, # of stores 140 Love Culture, Charming Charlie, Charlotte Russe, # of parking 8,400 and P.F. Chang’s China Bistro THE CENTER THE MARKET STARWOOD Fairlane Town Center “The Dearborn/Wayne District is steeped in history but is far from old fashioned.” — VisitDetroit.org THE CENTER THE MARKET STARWOOD Fairlane Town Center • Closest mall to both Detroit Airport and US Canadian border, attracting visitors year-round • Center sales per square foot surged 14.3% year-over-year in 2015 • Only enclosed shopping center in primary trade area of 475,000 people Location and Connections Convenient access off Interstates94 Adjacent to Ford World Headquarters and 96, located at juncture of Southfield with approximately 22,000 employees Freeway and Highway 12 and Henry Ford Community College with 18,000 students Visible to more than 90,000 cars on Southfield Freeway and nearly 40,000 Nearby John D. Dingell Transit Center vehicles on Highway 12 connects Dearborn to Chicago and Pontiac, Michigan, expanding regional draw THE CENTER THE MARKET STARWOOD Fairlane Town Center “Known for its fashion-forward merchandise and depth of retailers, … Fairlane Town Center affords visitors a unique shopping experience.” — CityofDearborn.org • Unprecedented economic expansion • Young, multicultural and professional market • Large tourist base due to music, auto industry, and Canadian shoppers • Strong presence of higher education institutions Area Growth, New Shoppers Well over 500,000 households in the Within one mile: trade area with 130,000 earning above 80% of adults are college educated $75,000 Approximately 30,000 college students 1 in 4 trade area residents are millennials Nearly 20% of homes built since 2000 versus 5% in the trade area THE CENTER THE MARKET STARWOOD Fairlane Town Center • Hotspot for manufacturing and high-earning Primary Trade Area technology professionals Household Expenditures $1,926 on food away from home • Conversion of nearby Royal Dearborn Hotel into $1,573 on apparel The Edward will expand visitor base $794 on personal care products and services $567 on sports and • Sales increases at center exceed recreation national average $505 on home furnishings Photo by Reuters/Rebecca Cook Reuters/Rebecca by Photo THE CENTER THE MARKET STARWOOD Fairlane Town Center Distance to Competition Eastland Center Eastland Center HARPER WOODS Driving – 21 mi, 24 min Laurel Park Place COLEMAN A. YOUNG Fairlane Green 39 INT’L AIRPORT Driving – 3 mi, 6 min LIVONIA 127,900 AADT Laurel Park Place I-96 Driving – 14 mi, 16 min 161,000 AADT Southland Center Driving – 12 mi, 15 min Ford Road/Route 153 Westland Shopping Center 71,700 AADT Westland Shopping DETROIT USA Center 12 CANADA 153 Driving – 11 mi, 19 min WESTLAND DEARBORN Fairlane Town Center Fairlane Green Highway 12/Michigan Avenue 38,700 AADT Legend 39 I-94 94,000 AADT Primary Trade Area 142,300 AADT ONTARIO Secondary Trade TAYLOR Area DETROIT METRO WAYNE COUNTY AIRPORT Competition Southland Center Access Roads (AADT= annual average daily traffic) 3 MILES THE CENTER THE MARKET STARWOOD Fairlane Town Center 10 mi. 542,878 Area Attractions Ford Field (Detroit Lions) Comerica Park (Detroit Tigers) I-96 I-75 New Red Wings arena (2017) The Henry Ford Museum Daytime Employees 24 39 5 mi. Henry Ford Health System (HQ) 44,043 and Greenfield Village 129,990 Three Area Casinos Colleges 3 mi. Businesses Henry Ford Community 74,731 11,522 College Carhartt (HQ) 12 5,017 University of Michigan — 153 AAA Michigan (HQ) Dearborn Fairlane Town Center 112,527 344,864 Residential Population 1,075,853 Wayne State University US Steel - Great Lakes Works Wayne County Community US Government Ford Motor Co (HQ) $58,526 College 12 $51,763 Schoolcraft College Beaumont Health Household Income Combined enrollment: 85,600 Legend Demographics I-94 $50,711 Key Employers 39 3 MILES THE CENTER THE MARKET STARWOOD Fairlane Town Center Demographics PTA1 STA2 TTA3 US Avg Population 2016 estimate 474,060 971,922 1,445,982 Dearborn rated “Extremely 2021 projection 459,779 948,237 1,408,016 Livable” by Areavibes.com % growth 2016–2021 -3.0% -2.4% -2.6% 3.7% Population White 49% 49% 49% 71% Fairlane Town Center is #1 By Race Black 46% 42% 43% 13% Shopping Destination in Asian 1% 3% 2% 5% Dearborn Hispanic Ethnicity 4% 8% 6% 18% —Tripadvisor.com Median Age 37 38 38 38 % age 15-24 14% 13% 14% 14% Dearborn among “Best % age 25 to 44 25% 26% 26% 26% Cities to Live in Michigan” by % age 45 to 64 26% 27% 26% 26% CreditDonkey.com Households 2016 estimate 181,883 393,162 575,045 2021 projection 177,940 386,711 564,651 2016 households with kids under 18 35% 31% 32% 34% Average 2016 estimate $51,549 $51,985 $51,847 $77,135 Household % earning $75,000+ 22% 23% 22% 36% Income 2021 projection $55,203 $56,930 $56,386 $83,619 Education % college educated 52% 50% 51% 59% 1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 401 5,017 11,522 44,043 Employment daytime employment 19,443 74,731 129,990 542,878 1 Primary Trade Area 2 Secondary Trade Area 3 Total Trade Area THE CENTER THE MARKET STARWOOD Fairlane Town Center Predominant Market Lifestyle Segments Sustaining Families—39% Cautious Traditionalists—14% • Urban, multi-cultural mix • Over 55 year-old mix of • Younger to middle-age singles and couples • Middle-class families, blend of • High rate of home ownership kids, singles and couples • Fans of reading, home-based • Modest lifestyles, aspirational hobbies and travel shoppers • Enjoy eating out at family • Enjoy a wide variety of media restaurants • Pursue entertainment outside the home Young Achievers & Midlife Success—9% Accumulators—10% • Singles & couples in their 30s • Married, upper-middle class and 40s families with children • Wealthiest of the Younger • Tech savvy singles and couples Years class • Mix of mid-career, professional • College-educated with six- and managerial jobs figure incomes • Enjoy the outdoors and • Executive and professional entertainment activities jobs • Favor team sports and • Fans of technology, financial kid-friendly technology products, and travel THE CENTER THE MARKET STARWOOD Fairlane Town Center 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 / Director, Leasing / 330.501.7233 / Solano Town Center Franklin Park Mall Chuck Bechara Indiana Great Northern Mall [email protected] Colorado Southlake Mall SouthPark Mall Belmar Kentucky Texas Bryant Siragusa / National Director, Restaurants & Entertainment / Connecticut Hamburg Pavilion The Shops at Willow Bend 214.771.2003 / [email protected] Blue Back Square Michigan Virginia Florida Fairlane Town Center MacArthur Center Bill Cikalo / Director, Big Box Leasing & Development / 312.283.5121 / The Mall at Wellington Green The Mall at Partridge Creek Stony Point Fashion Park [email protected] Westland Mall Montana Washington Georgia Rimrock Mall Capital Mall Michael Powers / Vice President, Leasing - East / 312.242.3208 / The Collection at Forsyth Kitsap Mall [email protected] Nebraska Gateway Mall Ed Coury / Senior Vice President, Leasing / 312.242.3217 / [email protected] Sources: The Nielsen Company; State Department of Transportation; State and Local Economic Development Resources 11/16/16 Starwood Retail Partners 1 East Wacker Drive Suite 3600 Chicago, IL 60601 www.starwoodretail.com THE CENTER THE MARKET STARWOOD Fairlane Town Center.
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