EXPERIENTIAL EVOLUTION MARKET LEADER
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- Evan Williamson
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3 EXPERIENTIAL EVOLUTION The 1-million-square-foot La Palmera is the result of a $50M transformation of the former Padre Staples Mall into a LEED-certified, contemporary shopping and dining destination. Over the next two years, La Palmera will continue its transformation as it adds retail, hospitality, restaurants and additional amenities. MARKET LEADER Located in Corpus Christi, Texas, La Palmera is the premier retail destination in the state s Coastal Bend region, attracting close to 8 million visitors annually, and offering more than 100 retail and dining options. As the only superregional mall within 140+ miles, La Palmera has maintained its position as a market leader in sales seeing an increase of 58% since
4 DRIVE TIMES TO CORPUS CHRISTI El Paso 9 hours TEXAS Fort Worth 6.1 hours Austin 3 hours Dallas 6.2 hours Laredo 2.3 hours San Antonio 2 hours Corpus Christi Houston 3 hours McAllen 2.2 hours Brownsville 2.3 hours 4
5 RALEIGH (#41) 458,880 MINNEAPOLIS (#46) 413,651 NEW ORLEANS (#49) 391,495 TAMPA (#52) 377,165 CORPUS CHRISTI (#58) 325,733 LEXINGTON (#60) 318,449 ST. LOUIS (#61) 311,404 PITTSBURGH (#63) 303,625 PLANO (#69) 285,057 U.S. CITIES RANKED BY POPULATION (CENSUS 2017) ORLANDO (#73) 277,173 SCOTTSDALE (#85) 246,645 BIRMINGHAM (#104) 212,157 5
6 CALIHAM 72 THREE RIVERS LIVE OAK BEE GEORGE WEST 59 BEEVILLE REFUGIO AUSTWELL SEADRIFT 185 MIKESKA SWINNEY SWITCH SKIDMORE WOODSBORO ARANSAS 359 HOLIDAY BEACH 59 MT LUCAS TYNAN BONNIE VIEW LAMAR MATAGORDA ISLAND JIM WELLS LAKE CITY MATHIS WEST ST PAUL 188 SINTON SAN PATRICIO 188 BAYSIDE COPANO VILLAGE SAN JOSE ISLAND DUVAL ORANGE GROVE 359 SAN PATRICIO BLUNTZER 37 CALALLEN ODEM 77 TAFT GREGORY 181 PORTLAND ROCKPORT 35 ARANSAS PASS 361 INGLESIDE AGUA DULCE ROBSTOWN 69E INGLESIDE ON THE BAY PORT ARANSAS 359 SAN DIEGO ALICE 77 DRISCOLL NUECES TIERRA GRANDE PETRONILA Corpus Christi International Airport SOUTH PADRE ISLAND DR. CORPUS CHRISTI FLOUR BLUFF MUSTANG ISLAND 361 GULF OF MEXICO PALITO BLANCO 141 BISHOP CHAPMAN RANCH RIOS KINGSVILLE KLEBERG CRUZ CALLE RICARDO PADRE ISLAND State Highways BROOKS PREMONT LA GLORIA FALFURRIAS RIVERA SARITA RIVIERA BEACH KENEDY Interstates Highways MI 6
7 THRIVING ECONOMY 8M+ TOURISTS 45,000+ COLLEGE STUDENTS #1 Texas snowbird destination (Tripping.com) LA PALMERA S SHARE OF TOTAL CORPUS CHRISTI SALES HAS INCREASED FROM 12.7% (2013) TO 16.1% (2017) Texas A&M University Corpus Christi - 12,200 students Texas A&M University Kingsville - 8,300 students 336k INTERNATIONAL AIRPORT VISITORS 10,000+ MILITARY EMPLOYEES Corpus Christi Army Depot Corpus Christi Naval Air Station Naval Station Kingsville Del Mar College - Corpus Christi - 25,000 students TRADE AREA POPULATION OF 515k 4 MAJOR HOSPITALS Corpus Christi Medical Center CHRISTUS Spohn Hospital Driscoll Children s Hospital South Texas Surgical Hospital AVERAGE TEMPERATURE 70 DEGREES, 251 SUNNY DAYS A YEAR 7
8 DEMOGRAPHICS TRADE AREA Population: 514,111 Households: 189,779 Avg. HH Income: $69k HHI $100K+%: 21.1% Median Age: 35 SHOPPER PROFILE Population: 304,739 Households: 112,577 Avg. HH Income: $70k HHI $110K+%: 22.04% Median Age: 33 3 MILE RADIUS Population: 125,111 Households: 49,958 Avg. HH Income: $70K Median Age: 33 Daytime population: 82,653 5 MILE RADIUS Population: 210,473 Households: 80,373 Avg. HH Income: $72K Median Age: 34 Daytime population: 134,639 8
9 STRONG TOURISM Known as the Texas Riviera, 8 million visitors contribute more than $1.2B to the Corpus Christi economy annually. 19% of visitors are from out-of-state. Strongest sales PSF in the region, making La Palmera the most productive retail destination in 140+ miles. REASONS TO EXPLORE Top Texas beach destination USS Lexington Texas State Aquarium Art Museum of South Texas Minor league baseball and hockey teams Schlitterbahn Water Park South Texas Botanical Gardens and Nature Center US Open Windsurfing and Kite Boarding 9
10 PROPERTY OVERVIEW 10
11 PROPERTY OVERVIEW Size: 1,024,331 SF of existing retail and restaurants Anchors: Dillard s, Macy s, JCPenney $50 million major renovation completed in 2010 LEED Certified: Silver Core & Shell (first enclosed mall to obtain this certification) 600-seat food court located on the lower level with 4,000 gallon feature aquarium Children s play area with aquatic theme Fountain inside and interactive pop jet fountains outside TENANT MIX 11
12 MUSTANG ISLAND CORPUS CHRISTI BAY TEXAS A&M UNIVERSITY - CORPUS CHRISTI GULF OF MEXICO CORPUS CHRISTI NAVAL AIR STATION PORT ARANSAS 358 RE PAD H T U R DD AN ISL ) PID (S IVE SO SITE AERIAL 12
13 RETAIL AERIAL 11 13
14 TRANSFORMATION The 1-million-square-foot La Palmera is the result of a $50M transformation of the former Padre Staples Mall. Rebranding and renovation has transformed La Palmera into the premier shopping destination. 14
15 BEFORE (2008) AFTER 15
16 CONCEPT RENDERING - SUBJECT TO CHANGE OUTDOOR LIFESTYLE DISTRICT 16
17 CONCEPT RENDERING - SUBJECT TO CHANGE OUTDOOR LIFESTYLE DISTRICT Big changes are coming so get ready for new phases of redevelopment to begin as we continue to enhance La Palmera. 17
18 OUTDOOR LIFESTYLE DISTRICT 18 CONCEPT RENDERING - SUBJECT TO CHANGE
19 OUTDOOR LIFESTYLE DISTRICT 19 CONCEPT RENDERING - SUBJECT TO CHANGE
20 TENANT MARKETING We work directly with our tenants to amplify their brand strategy and marketing programs. DIGITAL & SOCIAL Inclusion on property website and directories. Regular social media posts on property social media channnels with paid support when applicable. Opportunity to include info (offers, events, promotions) in monthly e-newsletter. PUBLIC RELATIONS Press releases coordinated with tenants, released in conjuction with paid social posts. Extensive relationships with local media with the ability to offer turnkey services. ADVERTISING General campaigns for center brand awareness across digital, social, print and sponsorships. Occasional co-op advertising opportunities. 36K+ 1.8M+ Annual Impressions 1.2K+ 178K+ Annual Impressions 10M+ Annual Visitors 835K+ Annual Web Traffic 20
21 WITH MORE THAN 600,000 VISITORS EVERY MONTH, THERE ARE ENDLESS REASONS TO TAKE ADVANTAGE OF LA PALMERA ADVERTISING OPPORTUNITIES. Exclusive Event Sponsorship Interior Signage Non-traditional Displays Vehicle Partnerships Product Placement Interior Wallscapes Temporary Leasing Displays Retail Merchandise Unit (RMU) Custom Creative Displays SIGNATURE EVENTS Summer Concert Series Santa s Arrival Tide Turners Easter Bunny Arrival Wave Walker Mall Walkers Club COMMUNITY 21
22 22
23 CONTACT Stacy Barton (817) David Muckleroy (817) INVESTMENTS DEVELOPMENT INSTITUTIONAL SERVICES 1701 River Run, Suite 500, Ft. Worth, TX trademarkproperty.com 23
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