The Shops at Willow Bend

Transcription

1 The Shops at Willow Bend The Shops at Willow Bend Plano, Texas

2 About Starwood Capital Group Private investment firm with a primary focus on global real estate, with more than $55 billion of assets under management SCG Platforms Starwood Hotels & Resorts (NYSE: HOT) Starwood Property Trust (NYSE: STWD) and istar (NYSE: STAR) TRI Pointe Homes Starwood Retail Partners In 26 years, has acquired $91 billion of assets across virtually every major real estate asset class One of the largest collections of multifamily apartments in the United States Starwood Waypoint Residential Trust (NYSE: SWAY), now trading as Colony Starwood Homes (NYSE: SFR) Starwood Land Ventures SH Group The Principal Hotel Company One of the largest portfolios of select-service hotels in the United States Starwood Capital has invested in more than 30 countries, ranging from the Americas to Europe to Asia

3 About Starwood Retail Partners Among the top 5 owners of 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 Other Redevelopments Stony Point Fashion Park Richmond, VA Chef-driven dining and landscaping will join new parks, public art and the only outdoor skating rink in the city Northridge Mall Salinas, CA Creating new entertainment and retail uses along with a new, relocated JCPenney The Mall at Wellington Green Wellington, FL New dining, gathering places and services will join a new Paragon Theater

4 The Shops at Willow Bend in Plano, Texas, which has been a dominant retail core for one of the wealthiest counties in the United States, is evolving into something even greater: a multifaceted core where people can shop, dine, work, exercise and be entertained. DENTON, TX DALLAS, TX MCKINNEY, TX PLANO, TX Now in the middle of a $125 million reimagining and renovation, The Shops at Willow Bend is evolving into a town center with celebrity chefowned and operated dining experiences, office space, the Plano Children s Theater, a Cinépolis luxury cinema, the third Dallas-area Equinox, and one of four Crayola Experience family entertainment centers in the US. Join us. ARLINGTON, TX MESQUITE, TX 10 MILES The STARWOOD Shops at THE Willow CENTER Bend THE MARKET The Plano, Shops Texasat Willow Bend

5 Remaking a Classic for a New Plano A $125 Million redevelopment will make The Shops at Willow Bend: Even easier to see: Reorientation creates greater visibility for this two-level center from the Dallas North Tollway Even easier to access: New access from the frontage road of the Dallas North Tollway Even easier to embrace: Adding restaurants, office, entertainment, live theater, fitness and more to create a convenient, safe and entertaining town center

6 This one-of-a-kind family attraction is where color, chemistry and technology magically combine to create a colorful adventure for a child s imagination. Kids and parents can let their creativity run free and learn... together. Equinox is where the very best personal trainers and cutting-edge classes come together with inspired design, world-class amenities and a unique digital experience to truly inspire their members every day.

7 A108 The Master Lease Plan Level One 240,000 SF THREE LEVELS A101 TUSCANY JEWELLERS D125 HALLMARK (P) A101B ATM A101A PATIO D124 JUSTICE (P) D126 CALIFORNIA PIZZA KITCHEN D122 KIDS SHOES CHOCOLATES A105 D120 LENSCRAFTERS TEL. ELEC. R105 60,000 SF ONE LEVEL A100 1 D119 WATER SERVICE TOYS 2 MAIN ELEC. RM. Z GALLERIE D118 WETZEL S PRETZELS GREAT AMERICAN COOKIES D117A D117 THINGS REMEMBERED JANIE AND JACK A110 3 D116 SPECTRASITE ROOM POST OFFICE A110A 4 SPECIALTY CANDY COTTON CHILDREN S APPAREL D115 D114 MITCHEL GOLD + BOB WILLIAMS 5 CHILDREN S APPAREL A111 EVERYTHING BUT WATER A112 PATIO A111A CHILDREN S SHOES 6 7 A113 PATIO A115 D108 WATER SERVICE TEL. ELEC. ATHLETIC SHOES/ MULTI-BRAND RESTORATION HARDWARE TRUCK DOCK #1 PROJECT FACILITIES MKTG STOR. GLOBAL-BRANDED ATHLEISURE A118 COFFEE A119 D107 CULINARY/TABLE TOP R101 TEAVANA D109 FACILITIES STORAGE/ SHOPS ELEC. ROOM A120 A120C SONIC CONTEMPORARY MEN S D105 A120A A120D 8 9 MANAGEMENT OFFICE STORAGE AREA YOGA-APPAREL FC101 FC102 SONIC FC103 A120B BRIDGE DESIGNER DUAL-GENDER A122 D104 D103 FC104 A127 FC105 CELLAIRIS A126 A123 D102 BAREMINERALS COSMETICS D101 PHIL S PHILLY GRILL CHICK-FIL-A SWAROVSKI GNC A125 AVEDA A124 SUNGLASS HUT INTERNATIONAL GODIVA CHOCOLATIER VALET ROOM CHINA EXPERIENCE CRABTREE & EVELYN L'OCCITANE EN PROVENCE SHOP-IN-SHOP TENANTS Armani Chanel Christian Louboutin Gucci Hermes Louis Vuitton Prada Robert Graham STORAGE/ELEC. RM. LUSH FRESH HANDMADE COSMETICS WHICH WICH? FC106 B101A LIDS B101 B103 ORIGINS B104 C125 FC107 B102 JUICE BAR FC108 B106 B105A C122 B101B B105 FC110 FC109 JOHNSTON & MURPHY ZALES JEWELERS TENANT STORAGE ROOMS OFFICE TOWER 20,700 SF (200,00 GROSS SF) 10 C121A BOSE JAN. HANDBAGS/ LEATHER GOODS B107 M W BRIGHTON COLLECTIBLES B C120 APPLE R103B B109 B110 R103A STARBUCKS SPRINKLER VALVE RM. VICTORIA S SECRET (P) MAC TEL. ELEC. ESSENTIAL OILS DUAL-GENDER YOGA & PILATES APPAREL B112 K101 C119 WATCHES TRUCK DOCK #5 TRUCK DOCK #3 C118 COFFEE WATER SERVICE TEL. ELEC. FIRE COMMAND CENTER FIRE PUMP RM. W M 12 RS10 MEXICAN BAR (MERCADITO) RT1 STROLLER/WHEEL CHAIR STORAGE INTERNET CAFE & BOOKS STARBUCKS B TAKE OUT C114 B C C115 BAILEY BANKS & BIDDLE PATIO STATIONARY BICYCLES TAKE OUT MALL ENTRY VALET FOREVER 21 MEN 16 C112 K104 C109 SEPHORA WOMEN S SHOES & BOOTS RS9 KNIFE RS1 C108 JOURNEYS CLAIRES B121 FOREVER 21 DERMALACTIVES CUTLERY COLLECTION LIDS C107 C106A BARBER SHOP & SPEAKEASY PATIO C106 TEMPURPEDIC ET2 PATIO PATIO PATIO PATIO C105 FINISH LINE (P) FOREVER 21 WOMEN C103 HOME FURNISHINGS/ DESIGN CENTER RS8 HAMPTON SOCIAL PATIO B126A ATM RS7 B127A B ,000 SF THREE LEVELS Approximately 420,000 SF of mixed-use space, for a more tailored and unique consumer experience, to include: 60,000 SF Crayola family entertainment venue 35,000 SF Equinox club 40,000 SF Cinépolis luxury cinema 70,000 SF dining district with up to nine exciting restaurants 20,000 SF Plano Children s Theater R ,000 SF THREE LEVELS TERRA RS2 RS3 RS4 PATIO 200,000 SF Class A office WHISTLE BRITCHES BOUTIQUE HOTEL

8 The Master Lease Plan Level Two COMMON CORRIDOR FOREVER 21 W B214A B216 WILLOW BEND CENTER FOR PERFORMING ARTS AREA A B216 WILLOW BEND CENTER FOR PERFORMING ARTS AREA B B222A ATM B216 WILLOW BEND CENTER FOR PERFORMING ARTS AREA C 240,000 SF THREE LEVELS CONTEMPORARY YOUNG ADULT A201 A201A D222 ATHLETIC APPAREL & SNEAKERS D220 VITAMIN WORLD ATHLETIC SHOES & WORKOUT APPAREL A204 H&M MEN H&M KIDS ELEC.TEL. EXPRESS (P) A206 ELECTRIC SWITCHGEAR ROOM D218 H&M TELEPHONE STORE A207 H&M WOMEN A210A MKTG. STORAGE/ FACILITIES STORAGE/ SHOPS A210 BODY-SOAPS D210 KAY JEWELERS (P) A211 M YOUNG ADULT DUAL-GENDER SPORTSWEAR D209 BATH & BODY PRODUCTS A216 TEL. ELEC. AMERICAN EAGLE (P) A217 A218 SKECHERS (P) SUNGLASSES FRAGRANCES A218A FRANCESCA S A219 WOMEN S WEEKEND CATALOGUE A220 VINEYARD VINES A222A A222 DESIGNER SHOES & HANDBAGS A223 WOMEN S DESIGNER SPORTSWEAR A224 ARITZIA B201 FACILITIES STORAGE/ SHOPS BANANA REPUBLIC B204 B208A DENIM B205 B211 EYEWEAR B206 TEL. ELEC. CONTEMPORARY WOMEN S ANN TAYLOR PAPYRUS B207 B208 TALBOT S B209 DUAL-GENDER ATHLEISURE B210 C216 HIKING / CAMPING / OUTDOOR WOMEN S SPORTSWEAR C215 JEWELRY B211 C214 C213 B212 C211 B214 EVEREVE DESIGNER DENIM WOMEN S WEEKEND THE WALKING CO. C210 B217 J. JILL B218 ACCESSORIES C209 LOFT B219 CANDIES C208 SUNGLASSES C207 MOBILE PHONE B220 BOOTS TEL. ELEC. C204 MATTRESS B221 C201 ENTERTAINMENT 13,730 SF (INCLUDING PATIO) UPPER LEVEL PATIO B222 VALLEY JEWELERS 250,000 SF THREE LEVELS D203A D206 COSMETICS D207 WOMEN S SPA MEN S APPAREL, SHOES, & BOOTS D202 BROOKS BROTHERS D201 FRAGRANCES C223 APOTHECARY C225 ALLEN EDMONDS C226 DESIGNER SHOES C222 GLOBAL DUAL-GENDER SPORTSWEAR WOMEN S LIFESTYLE/ FASHION & HOME/ BRIDAL MECHANICAL AREA D205A D204 BLOW-OUT BAR SHOP-IN-SHOP TENANTS Brunello Gucinelli Escada Rag & Bone Roberto Cavalli Theory Valentino TEL. ELEC. RS8 HAMPTON SOCIAL PATIO PATIO MECHANICAL AREA PATIO RS7 RS1 TERRA 150,000 SF THREE LEVELS RS3 PATIO MECHANICAL AREA

9 Plano s most dynamic shopping experience, in an intimate setting Home to the only Neiman-Marcus in North Dallas Eight access points from three major highways and other major roadways $125 million renovation will bring additional entertainment, dining, fitness and offices Property Description major roads total sf 1,200,000 # of stores 150 # of parking 6,800 Dallas North Tollway, Sam Rayburn Tollway, President George Bush Turnpike, West Park Boulevard center description anchors key tenants Mixed-use center with two-level enclosed mall Neiman-Marcus, Dillard s, Macy s Crate & Barrel, Bose, Apple, Hollister, Anthropologie, Forever 21, PINK, Brooks Brothers, Restoration Hardware, LOFT, Vineyard Vines, LUSH, and MAC

10 The $125 million reinvention is transforming the site into a multi-use commercial district. GlobeSt.com, June 2017

11 One of the most ambitious shopping mall redevelopment projects in the U.S. CommunityImpact, June 2017

12 30 minutes from DFW, the fourth busiest airport in the US The heart of the Platinum Corridor that runs from Interstate 635 to Highway 121 in Frisco Nearly 220,000 daytime workers within five miles See the new Willow Bend video here A 24/7 Market Within five miles: 31,000 households earn $150,000+ Projected average household income of $120,300 by 2022 Affordable housing with a median home value of $278, ,000 daytime workers supported by 17,500 businesses 3 of 4 workers occupy white-collar positions with heavy concentration of professional, scientific and technical jobs Claritas, 2017

13 FRISCO 24 MILES Distance to Competition Galleria Dallas Driving 8 mi, 20 min The Platinum Corridor Stonebriar Centre Northpark Center Driving 15 mi, 33 min Legacy West The Shops at Legacy The Shops at Legacy / Legacy West Driving 4 mi, 9 min LEWISVILLE Sam Rayburn Tollway 146,200 AADT HEBRON Dallas North Tollway 138,600 AADT The Shops at Willow Bend West Park Blvd 40,300 AADT Stonebriar Centre Driving 6 mi, 10 min Midway Road 31,800 PLANO Dallas North Tollway 171,100 AADT President George Bush Turnpike DFW INT L AIRPORT COPPELL CARROLLTON ADDISON AIRPORT 147,700 AADT Legend Primary Trade Area Secondary Trade Area RICHARDSON Competition Access Roads 3 MILES Galleria Dallas Northpark Center (Dallas) (AADT= annual average daily traffic)

14 NTT DATA Services FedEx Office & Print Services Toyota Motor North America JC Penney (HQ) Frito-Lay Ericsson Pizza Hut Yum! Restaurants Fannie Mae Intel Security Rent-A-Center (HQ) PepsiCo Capital One Finance Alliance Data Systems (HQ) Boeing Global Services Division (HQ) JP Morgan Chase Liberty Mutual Insurance Company Dr Pepper Snapple Group (HQ) Hewlett Packard Enterprise DXC Technology A Headquarters for Jobs Boeing Global Services Divison (HQ) Alliance Data Systems (HQ) Cinemark Holdings (HQ) Dr. Pepper Snapple Group (HQ) JCPenney (HQ) Rent-a-Center (HQ) Liberty Mutual Insurance Call Center Cinemark Holdings (HQ) Capital One Finance CIgna Intel Security Texas Health Presbyterian Hospital Hewlett Packard Enterprise 544 The Shops at Willow Bend 289 United Health Group, Student Resources Liberty Mutual Insurance Company Medical City Plano Nokia Cigna Hyundai Capital America State Farm Insurance (Richardson) Medical City Plano The Heart Hospital Baylor PepsiCo Toyota Motor North America Legend Nokia Primary Trade Area 1 MILE State Farm Insurance Operations Center Transamerica Insurance Net Scout Systems Key Employers

15 Frisco Lakes GC Chapel Creek Sterling Ranch Starwood East Liberty High School (Frisco ISD) Cheyenne Village Starwood West An Enviable Market Old American Golf Club The Tribute at The Colony GC Stonebriar Country Club Stonebriar North Ridgeview Ranch GC Stonebriar Centre Preston Hollow Twin Creeks GC With dozens of distinct neighborhoods, ranging from ultra-luxury to affordable, this market is home to thriving young families, affluent empty nesters and professional singles. The Colony High School (Lewisville ISD) Legacy West Kings Gate Renaissance Dallas at Plano Legacy West Hotel Kings Ridge Schoal Creek West White Rock Creek Estates Avignon Preston Meadows Montessori School Lakeside on Preston Centennial High School (Frisco ISD) Denham Village Whiffletree Spring Creek Academy Great Lakes Academy Private golf clubs, and a host of impressive public and private schools, abound in this dynamic, and enviable, market. Cypress Point West Senior High School Bethany Christian School The Lakes at Castle Hills (Plano ISD) Preston CC Hills Willow Bend Hills of Prestonwood Hebron High School (Lewisville ISD) Willow Bend Academy Plano Fusion Academy Plano Gleneagles Country Club Plano Senior High Coyote Ridge GC Prestonwood Christian Academy Gleneagles School (Plano ISD) 1 MILE Creekview High School (CFB ISD) Newman Smith High School (CFB ISD) The Shops at Willow Bend Bent Tree West Bent Tree Country Club ADDISON AIRPORT Bent Tree North Oakwood Preston Trail GC Yorktown Education Ann & Nate Levine Academy The Einstein School John Paul II High School Residence Inn Dallas Plano/Richardson at Coit Rd Canyon Creek GC Pearce High School (Richardson ISD) Residence Inn Dallas Plano/Richardson Canyon Creek Christian Academy Holiday Inn Express & Suites Plano East Courtyard Dallas Plano/Richardson Legend Primary Trade Area Secondary Trade Area Affluent Neighborhoods Private Golf Courses New Hotels Private Schools Public Schools (2,000+)

16 Affluent, educated trade area residents with nearly 50% of adults holding a college or advanced degree A population growth rate that is more than double the national average thanks to a vibrant influx of businesses and corporate headquarters, and a relatively low cost of living Consumer retail spend trends 20% 40% above the national average for apparel, restaurants, and entertainment 40% of trade area households have children under 18 Claritas, 2017 Primary Trade Area Average Household Expenditures Well Above US $3,091 on food away from home, 23% above US $574 on alcoholic beverages, 27% above US $2,408 on apparel, 22% above US $1,160 on sports and recreation, 34% above US $1,187 on personal care products and services, 22% above US $1,601 on home furnishings and appliances, approximately 20% above US Claritas, 2017

17 North Texas is the fourth largest MSA in the U.S., with the sixth highest concentration of tech workers in the nation The North Texas Commission, 2017 North Texas Grows by 1 person every 3.3 minutes The North Texas Commission, 2017 Collin County is the fastest-growing in Texas, with a population increase of 16.7% since 2010 (collincountytx.gov) Know the Visitors 140 hotels with more than 17,000 rooms within 10 miles More than 12 million business visitors to the metro area annually Collin County ranks 8th in the state for visitor spending 13 professional sports teams including the Dallas Cowboys World HQ just 7 miles away 8 more hotels to open in Plano in 2017 and 2018 including the new Renaissance Dallas, just 4 miles away The North Texas Commission, 2017

18 MCKINNEY Large And Getting Larger MCKINNEY NAT L AIRPORT 289 FRISCO North Texas Region estimated to grow to 7.9 million people by 2020 and 10 million by 2030 Plano is the region s 4th largest city ALLEN Stonebriar Centre Legacy West Trade Area 15 MILES The Shops at Legacy The Shops at Willow Bend 10 MILES Ranked best communities for education and young families in America Population of 1.6 million people projected to grow 10% by MILES HEBRON More than 300,000 children age 5 to 17 PLANO 200+ public schools FLOWER MOUND ADDISON AIRPORT I-35E CARROLLTON located in Plano and adjacent school district The North Texas Commission, 2017 COPPELL Legend RICHARDSON Trade Area Population Density per SqMi Galleria Dallas FARMERS BRANCH Trade Area Boundary GARLAND DFW INT L AIRPORT Over 4,000 3,000 to 4,000 I-635 2,000 to 3,000 0 to 2,000 5 MILES STA R WO O D DALLAS LOVE FIELD AIRPORT THE CENTER THE MARKET Northpark Center The Shops at Willow Bend

19 MCKINNEY A Country in a Region MCKINNEY NAT L AIRPORT 289 FRISCO North Texas 23rd largest GDP in world and 9th in US Ranks 3rd in US metro areas for relocations and business growth ALLEN Stonebriar Centre Legacy West 15 MILES The Shops at Legacy The Shops at Willow Bend Trade Area 10 MILES Plano ranked among best cities for first-time home buyers and working parents 5 MILES HEBRON Average household income of $116,500 is 44% higher than US PLANO FLOWER MOUND I-35E 121 ADDISON AIRPORT RICHARDSON Galleria Dallas FARMERS BRANCH I-635 GARLAND Legend Trade Area Boundary DFW INT L AIRPORT Competition Northpark Center 5 MILES DALLAS LOVE FIELD AIRPORT THE CENTER 75,500 households have incomes above $200,000 The North Texas Commission, 2017 COPPELL STA R WO O D 78 I-75 CARROLLTON Median home price is the 4th lowest among top 20 US metro areas THE MARKET The Shops at Willow Bend Hhlds Earning $200,000+ Each Dot = 5 Households

20 Demographics PTA 1 STA 2 TTA 3 US Avg Population 2017 estimate 638, ,702 1,582,965 Population By Race 2022 projection 694,049 1,040,286 1,734,335 % growth % 10.1% 9.6% 3.8% White 63% 68% 66% 70% Black 10% 10% 10% 13% Asian 16% 10% 13% 6% Hispanic/Latino Ethnicity 18% 19% 19% 18% Median Age % age % 14% 13% 14% % age 25 to 44 30% 28% 29% 26% % age 45 to 64 28% 26% 27% 26% Households 2017 estimate 250, , ,799 Average Household Income Education 2022 projection 272, , , households with kids under 18 37% 44% 41% 34% 2017 estimate $116,363 $116,604 $116,500 $80,853 % earning $100, % 45% 43% 26% 2022 projection $127,842 $128,316 $128,112 $87,464 % with a Degree (Associate to Doctorate) 58% 53% 55% 38% No. 1 Best Place to Live Area Vibes, 2017 No. 5 City to raise a family livability.com, 2017 No. 2 Most Prosperous Large City in US Citylab.com 2017 No. 2 Safest Big City in the U.S. MSN Money 2017 Ninth best city for young entrepreneurs nerdwallet.com, April 2015 Business & Employment 1-MILE 3-MILE 5-MILE 10-MILE business establishments 1,071 6,412 17,505 59,700 daytime employment 14,951 64, , ,894 No. 1 Best City to Buy a House in America Niche.com, Primary Trade Area 2 Secondary Trade Area 3 Total Trade Area

21 Predominant Market Lifestyle Segments Accumulated Wealth 35% Families & couples age 50+ Upscale, college-educated baby boomers Sprawling suburban homes Disposable cash and sophisticated tastes Enjoy top-of-the-line electronics, sporting equipment, cars and vacations Affluent Empty Nesters 16% Upscale couples age 45+ with children College-educated holding executive and professional positions Disposable cash with active lifestyles Involved in the community Indulge in travel, cultural events, and exercise equipment Midlife Success 12% Singles & couples in their 30 s and 40 s Wealthiest of the Younger Years class College-educated with sixfigure incomes Executive and professional jobs Fans of technology, financial products, and travel Young Achievers 11% Urban and metro neighborhoods Ethnically diverse and blend of family types Establishing or mid-career Enjoy sports and entertainment activities Some of the most tech savvy consumers

22 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 Metreon Northridge Mall Parkway Plaza Plaza West Covina Solano Town Center Colorado Belmar Connecticut Blue Back Square Florida The Mall at Wellington Green Westland Mall Georgia The Collection at Forsyth Illinois The Arboretum of South Barrington Chicago Ridge Mall Louis Joliet Mall The Promenade Bolingbrook Indiana Southlake Mall Kentucky Hamburg Pavilion Michigan Fairlane Town Center The Mall at Partridge Creek Montana Rimrock Mall Nebraska Gateway Mall North Carolina Northlake Mall Ohio Belden Village Mall Franklin Park Mall Great Northern Mall SouthPark Mall Texas The Shops at Willow Bend Virginia MacArthur Center Stony Point Fashion Park Washington Capital Mall Kitsap Mall Michael Powers / Senior Vice President, Leasing / / mpowers@starwoodretail.com Bryant Siragusa / Vice President, National Restaurant and Entertainment Leasing / / bsiragusa@starwoodretail.com Charles Skaggs / Director, National Restaurant and Entertainment Leasing West / / cskaggs@starwoodretail.com Sarah Burton / Associate, Leasing / / sburton@starwoodretail.com Bill Cikalo / Director, Big Box Leasing & Development / / bcikalo@starwoodretail.com Sources: The Nielsen Company; State Department of Transportation; State and Local Economic Development Resources 12/04/17 Starwood Retail Partners 1 East Wacker Drive Suite 3600 Chicago, IL