The Mall at Wellington Green The Mall at Wellington Green Wellington, (West Palm Beach) Florida When you see the stunningly beautiful Mall at Wellington Green and note its location in Palm Beach County, Florida, it’s easy to assume that it caters solely PALM BEACH GARDENS, FL to the affluent who live, winter or visit here. WEST PALM BEACH, FL But there’s more to this market — and this mall. Wellington and environs are home to middle-class, multicultural, multigenerational professionals, too. BOCA RATON, FL 10 MILES They want the best fashion and home furnishing brands that offer style and value — and a community dining and entertainment core around a new Paragon Theater with a Cask & Shaker Craft Bar and Kitchen. As it continues to evolve, The Mall at Wellington Green serves them all. The Mall at Wellington Green Wellington, (West Palm Beach) Florida • Enclosed two-level super-regional mall • A new 10-screen Paragon Theater with a Cask & Shaker Bar and Kitchen • At the geographic center of Palm Beach County • Mix of 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, and L’Occitane en Provence # of parking 7,600 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 Recently-opened Body & Sole Spa New stores including Hollister and Torrid 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 commercial development near the mall, reducing potential competition • Upscale Paragon cinema includes dining and bar/lounge • New residential development in nearby communities A Growing Vision for South Florida Excellent visibility and daily access to Convenient parking with 7,600 spaces 69,500 vehicles on Highway 98, 67,000 Region’s economy bolstered by 143,000- cars on Florida’s Turnpike and 58,500 plus seasonal residents cars on Highway 441 THE CENTER THE MARKET STARWOOD The Mall at Wellington Green “A premier shopping destination” — VisitFlorida.com • Unprecedented residential growth • More than 40 companies headquartered in the region • Economy dominated by tourism, construction and agriculture • The Winter Equestrian Festival and International Polo Club Palm Beach make Wellington an international destination for equestrian enthusiasts New Residents, New Homes Trade area projected to add 73,700 Within 3 miles: residents, reaching nearly 1.1 million 30% population growth 2010 – 2022 people by 2022 44% of households have children under 18 Growing market in search of affordable housing compared with coastal markets 55% of households earn $75,000+ 11,000 new single-family homes under Daytime employment of 30,100 more construction in the area than doubles to 68,000 within 5 miles THE CENTER THE MARKET STARWOOD The Mall at Wellington Green • Mix of affluent and aspirational shoppers Primary Trade Area Average Household Expenditures On Par • Growing Hispanic and Latino customer base with US $2,679 on food away from • Closely knit, family-oriented community home $2,075 on apparel $1,074 on personal care • 78% home ownership in primary trade area with products and services $911 on sports and 1 in 3 housing units built since 2000 recreation $667 on home furnishings 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 BEACH Raton BELLE GLADE PALM BEACH INT’L AIRPORT Driving – 24 mi, 27 min Forest Hill Blvd 45,500 AADT The Mall at Wellington Green LAKE WORTH Lake Worth Road 37,500 AADT 441 Boynton Beach Mall 58,500 AADT Legend Primary Trade Area Secondary Trade Area DELRAY BEACH Competition Access Roads I-95 (AADT= annual average BOCA RATON daily traffic) 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 South University – West Palm Beach Washington Nationals new PALM BEACH spring training complex INT’L AIRPORT 98 Florida Marlins and St. Louis Cardinals spring training at 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 AIRPORT Legend 441 Primary Trade Area Secondary Trade Area Colleges 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 2017 estimate 301,134 716,432 1,017,566 ‘Golf Capital of the World’ 2022 projection 326,015 765,275 1,091,290 — Palm Beach County % growth 2017–2022 8.3% 6.8% 7.2% 3.8% Population White 70% 67% 68% 70% Top-ranked school system By Race Black 18% 21% 20% 13% – home to some of the best Asian 4% 3% 3% 6% public and private schools in Hispanic/Latino Ethnicity 27% 24% 25% 18% the nation Median Age 41 43 43 38 — GreatSchools.org % age 15-24 14% 11% 12% 14% % age 25 to 44 23% 24% 24% 26% West Palm Beach ranked % age 45 to 64 28% 25% 26% 26% as the top Florida city for business Households 2017 estimate 106,492 295,066 401,558 — Forbes 2022 projection 114,352 314,593 428,945 2017 households with kids under 18 38% 27% 30% 34% Average 2017 estimate $86,108 $78,906 $80,816 $80,853 Household % earning $75,000+ 43% 34% 37% 38% Income 2022 projection $93,716 $86,271 $88,256 $87,464 Education % college educated 61% 59% 59% 59% 1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 773 3,427 7,555 24,721 Employment daytime employment 8,039 30,094 68,020 216,413 1 Primary Trade Area 2 Secondary Trade Area 3 Total Trade Area THE CENTER THE MARKET STARWOOD The Mall at Wellington Green Predominant Market Lifestyle Segments Cautious Traditionalists—18% Conservative Classics—18% • Over 55 year-old mix of • Upper-middle-class age 55+ singles and couples • Childless singles and couples • High rate of home ownership • College-educated • Fans of reading, home-based • Enjoy comforts of home, hobbies and travel gardening, reading, and • Enjoy eating out at family entertaining restaurants • Frequent patrons to • Pursue entertainment outside museums, the theater, and the home casual-dining restaurants Sustaining Families—16% Affluent Empty Nesters—11% • Urban, multi-cultural mix • Upscale couples age 45+ • Younger to middle-age with children • Middle-class families, blend of • College-educated holding kids, singles and couples executive and professional • Modest lifestyles, aspirational positions shoppers • Disposable cash with active • Enjoy a wide variety of media lifestyles • Involved in the community • Indulge in travel, cultural events, and exercise equipment THE CENTER THE MARKET STARWOOD The Mall at Wellington Green 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 Jonathan Kaplan / Senior Director, Leasing / 781.526.9800 / Northridge