Fairlane Town Center Dearborn, (Detroit) Michigan Tri-level, super-regional center in the heart of Dearborn
New R&D offices for Ford Motor Corp. NOVI, MI opened in former department store LIVONIA, MI space DETROIT, MI
Closest center to Canadian border DEARBORN, MI crossing, bringing year-round TAYLOR, MI shoppers CANADA
Only enclosed center for 11 miles in a
densely-populated market 10 MILES
Fairlane Town Center Dearborn, (Detroit) Michigan One wing recently converted to offices for Ford Motor’s1,800 research & development employees
Expansive trade area of 1.8M
Sales increases exceed national average
Property Description
major roads US Highway 12 and State center description Enclosed, three-level center Route 39 anchors Macy’s, JCPenney, Sears, AMC Theatres and total sf 1,400,000 Ford Motor Company # of stores 125 key tenants PINK, H&M, Forever 21, Aldo, Hollister, House of Hoops, Charlotte Russe, Express, Victoria’s Secret, # of parking 8,400 Kids Fly Zone 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 Adjacent to Ford Motor World HQ with 22,000 employees
Hotspot for manufacturing and high-earning technology professionals
Conversion of nearby hotel into The Edward will expand visitor base
Location and Connections Convenient access from I-94, I-96, the Across the street from University of Southfield Freeway and Highway 12 Michigan-Dearborn and Henry Ford College 130,000+ vehicles daily on nearby roads
THE CENTER THE MARKET STARWOOD Fairlane Town Center THE CENTER THE MARKET STARWOOD Fairlane Town Center 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 Resurgence, New Shoppers Within one mile: Average household income of $96,000 79% are college educated 6.5% population growth by 2023 vs. Approximately 30,000 college students 3.5% US
THE CENTER THE MARKET STARWOOD Fairlane Town Center 31.5 MILES Twelve Oaks Mall Eastland Center (Novi) Distance to Competition
Laurel Park Place COLEMAN A. YOUNG 39 Eastland Center (Livonia) INT’L AIRPORT 127,900 AADT Driving – 21 mi, 24 min I-94 Fairlane Green I-96 I-75 Driving – 3 mi, 6 min 161,000 AADT Laurel Park Place Driving – 14 mi, 16 min Ford Road/Route 153 71,700 AADT Southland Center Westland Shopping Center DETROIT USA Driving – 12 mi, 15 min WESTLAND 153 12 CANADA Twelve Oaks Mall Fairlane Town Center DEARBORN Driving – 26 mi, 30 min CANTON Westland Shopping I-275 Center Highway 12/Michigan Avenue 38,700 AADT Fairlane Green Driving – 11 mi, 19 min
39 I-94 94,000 AADT 142,300 AADT ONTARIO
TAYLOR
DETROIT METRO I-75 Legend WAYNE COUNTY AIRPORT Primary Trade Area
Southland Center Secondary Trade Area
Competition
Access Roads
(AADT= annual average daily traffic) 3 MILES
THE CENTER THE MARKET STARWOOD Fairlane Town Center Area Attractions Trinity Health I-96 Ford Field (Detroit Lions) (Livonia) I-75 Comerica Park (Detroit LIVONIA Tigers) 24 39 Henry Ford Health System (HQ) Little Caesars Arena, Fall Wayne State University 2017 (Detroit Red Wings & Detroit Pistons)
DEARBORN The Henry Ford Museum of HEIGHTS American Innovation and Greenfield Village Carhartt (HQ) DETROIT 12 Wayne County Colleges 153 Henry Ford Community College AAA Michigan (HQ) Community College University of Michigan – Dearborn DEARBORN Henry Ford Community Ford Motor Co. (HQ) College US Steel – Great Lakes Works University of Michigan — US Government Fairlane Town Center Dearborn 12 Wayne State University Beaumont Health Wayne County Community College USA
CANADA Combined enrollment: 73,200 ONTARIO
I-94 Legend 39 DETROIT METRO Primary Trade Area WAYNE COUNTY AIRPORT Secondary Trade Area TAYLOR Colleges
Key Employers 3 MILES
THE CENTER THE MARKET STARWOOD Fairlane Town Center Demographics PTA1 STA2 TTA3 US Avg Population 2018 estimate 644,096 1,120,823 1,764,919 Trade area population of 2023 projection 628,685 1,112,285 1,740,970 1,765,000 % growth 2018–2023 -2.4% -0.8% -1.4% 3.5% Population White 43% 53% 49% 70% 1 in 2 employed residents By Race Black 50% 36% 41% 13% hold white collar positions Asian 1% 5% 3% 6% 73,000 daytime employees Hispanic Ethnicity 6% 6% 6% 18% within three miles Median Age 37 38 37 38 % age 15-24 14% 13% 14% 14% Low cost of living % age 25 to 44 26% 27% 26% 26% % age 45 to 64d 25% 26% 26% 26% Households 2018 estimate 246,265 454,113 700,378 2023 projection 242,192 453,509 695,701 2018 households with kids under 18 35% 32% 33% 34% Average 2018 estimate $53,898 $64,287 $60,634 $86,278 Household % earning $75,000+ 23% 30% 28% 40% Income 2023 projection $59,484 $71,711 $67,454 $95,107 Education % college educated 51% 57% 55% 59%
1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 623 5,160 11,192 42,885 Employment daytime employment 19,166 73,183 129,342 534,893
1 Primary Trade Area 2 Secondary Trade Area 3 Total Trade Area
THE CENTER THE MARKET STARWOOD Fairlane Town Center 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 Hope Mathews / Senior Director, Leasing / 312.373.3586 / 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 Fairlane Town Center