ALTON TOWN CENTER PALM BEACH GARDENS, FLORIDA

Transcription

1 ALTON TOWN CENTER PALM BEACH GARDENS, FLORIDA

2 ALTON TOWN CENTER PALM BEACH GARDENS, FLORIDA CONTENTS OVERVIEW 1 ARTISTS CONCEPTS 3 SITE AERIAL 11 DONALD ROSS CORRIDOR AERIAL 13 TRACT PLAN 15 DRIVING ROUTE AERIAL 16 RESIDENTIAL AERIAL 17 RESIDENTIAL AERIAL KEY 18 DEMOGRAPHICS 19

3 OVERVIEW OVERVIEW Alton Town Center is a unique high-end retail development located in the heart of Palm Beach Gardens (the Project ). The Project will contain multiple components, including power/big box (approximately 175,000 sf), an entertainment/lifestyle component (approximately 150,000 sf) as well as a necessity-based retail component (approximately 50,000 sf) making it the 24/7 shopping destination for all of northern Palm Beach County (trade area of ~200,000 residents). The Project benefits from its regional positioning immediately east of Interstate 95 along Donald Ross Road (33,400 VPD), an explosive east/west corridor through Pam Beach Gardens located equidistant (~3 miles) between PGA Blvd to the south and Indiantown Rd to the north. Donald Ross Village (100% leased) neighborhood/lifestyle shopping center Notable restaurants: Burger Bar (Annual sales of ~$4 million) Coolinary Café (Annual sales of ~$1200 PSF), Jersey Mikes (Top 5 in chain) Total Bank Deposits on Donald Ross Corridor: $377 Million Anchor Draw: Due to limited competition, extreme density, and superior demographics retailers perform exceptionally well in Palm Beach County. The project will include best-in-class large format anchor retailers that have been unable to locate in the trade area due to land constraints. The Project will be developed concurrently with the Alton DRI, a development of regional impact containing approximately 2,000 high-end single family residences, 700 multi-family units, 4 million SF of biotech and research/medical office space, an 80 bed research hospital and 1 or more national hotels. PROJECT HIGHLIGHTS: Barriers to Entry/Limited Competition: There are virtually no other vacant parcels or development opportunities to accommodate such a large scale retail development in the area. Further, there is no existing direct competition in the immediate community and limited competition in the extended trade area. Superior Demographics: Population counts within a 3, 5, and 7 mile radius are ~60,000, ~135,000, and ~191,000 Average household income of ~$100,000 within 5 miles of the Property There are over 10,000 homes with a price range of greater than $500,000 within 3.5 miles 71% of the population within the trade area is college educated (compared to national average of 57%) Prior to completion of Alton Town Center, ~4000 new residential housing units will be developed in the immediate trade area Stable Consumer Base: The existing retail projects on Donald Ross Rd are extremely stable and 100% leased: Abacoa Plaza (100% leased) anchored by Publix, Wells Fargo ($156 Million in deposits), Bank of America ($105 Million in deposits), PNC ($75 Million in deposits), BB&T ($75 Million in deposits), McDonalds (annual sales ~ $4 Million), Starbucks, BP Gas (#1 gas station by volume in Palm Beach County) 1 ALTON TOWN CENTER ALTON TOWN CENTER 2

4 ARTISTS CONCEPTS SECTION HEADER 3 ALTON TOWN CENTER ALTON TOWN CENTER 4

5 ARTISTS CONCEPTS SECTION HEADER 5 ALTON TOWN CENTER ALTON TOWN CENTER 6

6 ARTISTS CONCEPTS SECTION HEADER 7 ALTON TOWN CENTER ALTON TOWN CENTER 8

7 ARTISTS CONCEPTS SECTION HEADER 9 ALTON TOWN CENTER ALTON TOWN CENTER 10

8 SITE AERIAL INDIANTOWN ROAD HARBOURSIDE MILITARY TRAIL JUPITER SITE DONALD ROSS ROAD JUNO BEACH DOWNTOWN AT THE GARDENS 3 MILES GARDENS MALL PGA BLVD PGA MIDTOWN 5 MILES LEGACY PLACE PALM BEACH GARDENS NORTHLAKE BLVD 10 MILES BLUE HERON BLVD SINGER ISLAND 15 MILES 45th ST PALM BEACH OUTLETS 20 MILES DOWNTOWN WEST PALM THE ISLAND OF PALM BEACH CITYPLACE PALM BEACH LAKES BLVD OKEECHOBEE BLVD 11 ALTON TOWN CENTER ALTON TOWN CENTER 12

9 DONALD ROSS CORRIDOR AERIAL INDEPENDENCE MIDDLE SCHOOL FLORIDA ATLANTIC UNIVERSITY ABACOA TOWN CENTER MAX PLANCK Eastpointe Country Club Eastpointe SF Residential Marsh Pointe Elementary G4S SOLUTIONS ABACOA GOLF CLUB UNITED TECHNOLOGIES FLORIDA TURNPIKE Hotel (300 Rooms) 145,000 VPD 1,200 units FRANKLIN ACADEMY 1.2 Million S.F. Office Space Franklin Academy HOOD ROAD Westwood Gardens MF Residential ROGER DEAN STADIUM EXISTING STUDENT/OFFICE POPULATION AT INTERSECTION: 9,000+ ABACOA DRI DONALD ROSS ROAD Scripps Campus District 1.6 Million S.F. Industrial / R & D / Biotech 80 Bed Hospital FAU Campus 2000 Students Max Planck up to 674 units Meyer Academy Up to 700 units Institute 445+ units up to 126 units up to 255 units Scripps Florida Phase I Preserve / Park Legends at the Gardens Mixed Use SITE Benjamin School JCC / MEYER ACADEMY San Michele SF Residential HOOD ROAD BANK DEPOSITS ON CORRIDOR: $377 MILLION William T Dwyer High School CENTRAL BOULEVARD CENTRAL BLVD SCRIPPS FL INSTITUTE FOR HEALTHY LIVING ABACOA PLAZA Publix Sales of ~$1000 PSF McDonalds Sales of ~$4 Million BP - #1 gas station by volume in County MILITARY TRAIL 33,400 VPD WILLIAM T DWYER HIGH SCHOOL BENJAMIN SCHOOL BUSINESS CENTER DONALD ROSS VILLAGE Burger Bar Sales of $3 Million Coolinary Café Sales of $1200 PSF BEACON COVE INTERMEDIATE TRUMP JUPITER DONALD ROSS ROAD THE BEAR S CLUB FRENCHMAN S CREEK BEACH & COUNTRY CLUB LOGGERHEAD MARINA PROSPERITY FARMS ROAD AZUE CONDOMINIUMS 100 NEW CONDOS $1.3 MILLION 13 ALTON TOWN CENTER ALTON TOWN CENTER 14

10 TRACT PLAN DRIVING ROUTE AERIAL ABACOA DRI FAU Campus 2000 Students Max Planck Institute Scripps Florida Phase I DONALD ROSS ROAD INDIANTOWN ROAD Hotel (300 Rooms) Scripps Campus District Preserve / Park Legends at the Gardens Mixed Use INDIA N CREE K PKWY 1.6 Million S.F. Industrial / R & D / Biotech Up to 700 units Eastpointe Country Club FLORIDA TURNPIKE Eastpointe SF Residential 1,200 units 1.2 Million S.F. Office Space 80 Bed Hospital up to 674 units 445+ units up to 126 units Benjamin School William T Dwye High School CENTRAL BOULEVARD San Michele SF Residential SITE CENTRAL BLVD MILITARY TRAIL A1A DONALD ROSS RD Meyer Academy up to 255 units PGA BLVD Franklin Academy Marsh Pointe Elementary HOOD ROAD Westwood Gardens MF Residential DRIVE TIMES TO ALTON ABACOA: 0 MIN - <5 MIN BEARS CLUB/RITZ CARLTON/FRENCHMAN S/EVERGRENE : 2 MIN 5 MIN MIRASOL/OLD MARSH/EASTPOINTE: 3 MIN - <8 MIN SEMINOLE CLUB/LOST TREE/SINGER ISLAND/JUNO BEACH: 5 MIN - <15 MIN PGA NATIONAL/BALLEN ISLES: 8 MIN - <10 MIN TEQUESTA/JUPITER INLET COLONY/JONATHANS LANDING/ADMIRALS COVE: 6 MIN - 13 MIN JUPITER CC/PENNOCK POINT/ LOXAHATCHEE RIVER RD/TEQUESTA CC: 8 MIN <15 MIN NORTHLAKE BLVD 15 ALTON TOWN CENTER ALTON TOWN CENTER 16

11 RESIDENTAL AERIAL RESIDENTIAL AERIAL KEY 7 TRADE AREA 5 3 RESIDENTIAL TRADE AREA HOME VALUES: UP TO $25 MILLION CURRENT POPULATION: 181,976 PROJECTED POPULATION: 193,241 CURRENT HOUSEHOLDS (2014): 81,483 PROJECTED HOUSEHOLDS (2018): 86,422 AVERAGE HOUSEHOLD INCOME: $93,362 COLLEGE EDUCATED: 70+ % INDIANTOWN ROAD SITE 1 PGA BLVD NORTHLAKE BLVD DONALD ROSS RD 1. Alton Proposed residences $600,000 - $2 Million 2. Abacoa 6,000 residences $100,000 - $2 Million 3. The Ritz-Carlton at Trump National Golf Club 131 residences Home prices up to $5 Million Avg. Home price $2.14 Million 4. Frenchman s Creek 606 residences $500,000 to +$5 Million Avg. Home price ~$1.4 Million 5. Frenchman s Reserve 448 residences $500,000 to +$4 Million Avg. Home price ~$1.3 Million 6. Paradise Port 200 residences Avg. home price ~$2.7 Million 7. San Michele 90 residences $1.3 - $1.8 Million 8. Evergrene 965 residences $250,000 to $900, Old Marsh Golf Club 160 residences Avg. Home Price $1.6 Million 10. Paloma 200+ residences $400,000 to $1 Million Avg. Home Price ~$700, Lost Tree Village Estate Homes up to $25 Million 12. Singer Island +11,000 residences Residences up to $8 Million 13. Mirasol Country Club residences $450,000 to +$5 Million Avg. Home Price +$1.25 Million 14. Old Palm Golf Club 300+ residences $1.3 Million to $15.5 Million Avg. Home Price +$4.15 Million 15. Admirals Cove 900 Home community $460,000 to $14,000,000 SECTION HEADER 400+ Residences Up to $1 Million 17. Loxahatchee Golf Club 285 residences Avg. Home Price $1.1 Million Home prices up to $4 Million 18. Jonathan s Landing Country Club residences Home prices up to $4 Million Avg. Home Price ~$1 Million 19. Eastpointe Country Club 875 residences Home prices up to $800, Ballen Isles residences Home prices up to $5 Million Avg. Home price ~$675, PGA National 5,000 total homes Home prices up to $2.6 Million Avg. Home price ~$450, Jupiter Country Club 528 Residences Home prices up to $1.5 Million Avg. Home price $790, The Prado 127 proposed residences 24. Rialto 312 proposed residences 25. Pennock Point/Shorewood/Loxahatchee River Rd/The Shores Over 1000 Homes Prices up to $7 Million 26. Tequesta 2,300 Residences Prices up to $10 Million 27. Jupiter Inlet Colony Over 1000 Homes Prices up to $7 Million 28. Frenchman s Harbor 48 residences $1.5 Million - $5 Million 17 ALTON TOWN CENTER ALTON TOWN CENTER 18

12 DEMOGRAPHICS Donald Ross and Max Planck 3 Miles % 5 Miles % 7 Miles % Trade Area Population 2018 Projection 63, , , , Estimate 57, , , ,976 Growth % 7.33% 6.23% 6.19% Households 2018 Projection 27,030 64,748 89,044 86, Estimate 24,743 60,524 83,969 81,483 Growth % 6.98% 6.04% 6.06% 2013 Est. HHs by HH Income 24,743 60,524 83,969 81,483 CY HHs, Inc < $15,000 1, , , , CY HHs, Inc $15,000 - $24,999 2, , , , CY HHs, Inc $25,000 - $34,999 2, , , , CY HHs, Inc $35,000 - $49,999 3, , , , CY HHs, Inc $50,000 - $74,999 4, , , , CY HHs, Inc $75,000 - $99,999 3, , , , CY HHs, Inc $100,000 - $124,999 2, , , , CY HHs, Inc $125,000 - $149,999 1, , , , CY HHs, Inc $150,000 - $199,999 1, , , , CY HHs, Inc $200,000 - $249, , , , CY HHs, Inc $250,000 - $499,999 1, , , , CY HHs, Inc $500, , , , Est. Average Household Income $100,947 $93,939 $89,584 $93, Est. Tenure of Occupied Housing Units 24,743 60,524 83,969 81,483 Owner Occupied 18, , , , Renter Occupied 6, , , , Est. Pop. Age 25+ by Edu. Attainment 42, , , ,213 Less than 9th grade , , , Some High School, no diploma 1, , , , High School Graduate (or GED) 8, , , , Some College, no degree 8, , , , Associate Degree 3, , , , Bachelor's Degree 12, , , , Master's Degree 4, , , , Professional School Degree 2, , , , Doctorate Degree , , , Source: 2013 The Nielsen Company 19 ALTON TOWN CENTER

13 400 Clematis Street Suite 201 West Palm Beach, Florida T F