capital mall

Capital Mall Olympia, Washington

Capital Mall

Capital Mall Olympia, Washington

10 MILES

OLYMPIA, WA

CENTRALIA, WA

LAKEWOOD, WA

TACOMA, WA

SHELTON, WA

If the residents of the communities that make up Olympia, Wash. need something, odds are they’re coming to Capital Mall. Its unique tenant mix satisfies nearly every want for an exceptionally eclectic market.

From educator to legislator, soldier to student, outdoor enthusiast to fashionista, shoppers gather at this region’s preferred shopping destination. And the center’s broad collection of retailers, including mall mainstays and big boxes, come together to create an extension of Downtown Olympia.

Capital Mall is the go-to community core for one of the most fascinating communities in the United States.

THE CENTER Capital MallTHE MARKET STARWOOD

Property Description

major roads I-5 and Highway 101

total sf 800,000

# of stores 120

# of parking 3,500

center description Enclosed, one-level with lifestyle center outparcel

anchors Macy’s, JCPenney, Best Buy, Century 14-screen theater, and Dick’s Sporting Goods

key tenants REI, T.J. Maxx, Bed Bath & Beyond, Chico’s, Loft, 24 Hour Fitness, Total Wine & More, Chipotle, Charming Charlie, Francesca’s Collection, Mac Cosmetics, Vans, Red Robin, Old Navy, Victoria’s Secret, Pints & Quarts, and Starbucks

• Combines enclosed regional mall and Capital Promenade open-air lifestyle center

• Close to state capitol and Olympia’s commercial core

• Predominant center for South Puget Sound Area

• More than 5 million annual visitors

“The cornerstone of the community.”— VisitOlympia.com



• True one-stop shopping

• Combination of department store and big-box anchors including Macy’s, JCPenney, REI, Best Buy, Total Wine & More, Bed Bath & Beyond, and TJ Maxx

• More than 100 specialty shops, food court and 10 restaurants

• A new Dick’s Sporting Goods in 2017

Crossroads of the West

The average distance traveled by a Capital Mall shopper is 83 miles

60 miles south of Seattle, 110 miles north of Portland

Near intersection of Interstate 5 and Highway 101, major gateways to Oregon and California

Visible to more than 95,000 vehicles per day on Highway 101, and 60,000 vehicles on nearby roads

Market includes urban Thurston County and rural Mason County

Only regional mall within 30 miles

Primary center for rural Mason County

“One of the area’s best balances of jobs within walking distance of medium-density housing”— City of Olympia

THE MARKET Capital MallTHE CENTER THE MARKET STARWOOD

• Well-educated and diverse workforce employed in state and local government, military, healthcare, technology and logistics

• Thriving entrepreneurial innovation leveraged by highest percentage of creative class workers in Washington State

• More than 115,000 daytime employees within 10 miles

• Gateway to the Olympic Peninsula and Washington Coast

Urban Meets Rural Meets Tourism

71% of primary trade area is college-educated

65% of primary trade area residents work in white-collar positions

More than 11,000 local college students

No corporate income tax

More than 3 million annual visitors to Olympic National Park

• Primary trade area population to see double-digit growth of 12% from 2010 to 2022

• Large, affluent shopper base of 25,900 households within 10 miles earn $100,000+

• Top-notch K-12 school districts

• High quality of life, low cost of living and no personal income tax

Primary Trade Area Average Household Expenditures On Par With US

$2,705 on food away from home

$1,044 on personal care products and services

$1,974 on apparel

$866 on sports and recreation

$639 on home furnishings


44 MILES


21,700 AADTCooper Point Road

139,000 AADT

I-5

Black Lake Blvd39,500 AADT

95,000 AADT

I-101

19,200 AADTHarrison Avenue

118,000 AADT

I-5

3 MILES

TACOMA

The Outlets at Lacey (2019)

South Sound Center

DUPONT

Legend Primary Trade Area

Secondary Trade Area

Competition

Access Roads

(AADT= annual average daily traffic)

Distance to Competition

Centralia Outlets Driving – 25 mi, 30 min

The Outlets at Lacey Driving – 13 mi, 20 min

Lakewood Towne Center Driving – 26 mi, 34 min

South Sound Center Driving – 7 mi, 12 min

Tacoma Mall Driving – 30 mi, 36 min

OLYMPIA REGIONAL AIRPORT

OLYMPIA

Tacoma Mall

Lakewood Towne Center

Centralia Outlets (Centralia)

EAST OLYMPIA

LACEY

LAKEWOOD

Capital Mall

8,000 AADTCapital Mall Blvd


I-101

I-5

I-5

Capital Mall

3 MILES

State Government (Capitol)

Providence Health

Xerox

Capital Medical

Area Attractions

Olympic National Park

Nisqually National Wildlife Refuge

Capital State Forest

Nisqually Red Wind Casino

Little Creek Casino

Colleges

South Puget Sound Community College

Evergreen State College

St. Martin’s University

Combined enrollment: 10,400

Legend Primary Trade Area

Secondary Trade Area

Colleges

Key Employers

LACEY

South Puget Sound Community College

Evergreen State College

St. Martin’s University

Intel (Dupont)

Amazon (Dupont)

OLYMPIA

OLYMPIA REGIONAL AIRPORT EAST OLYMPIA


Demographics PTA1 STA2 TTA3 US Avg

Population 2017 estimate 195,483 195,000 390,483

2022 projection 206,173 203,041 409,214

% growth 2017–2022 5.5% 4.1% 4.8% 3.8%

PopulationBy Race

White 80% 81% 80% 70%

Black 3% 3% 3% 13%

Asian 5% 3% 4% 6%

Hispanic Ethnicity 9% 11% 10% 18%

Median Age 41 40 40 38

% age 15-24 12% 12% 12% 14%

% age 25 to 44 27% 25% 26% 26%

% age 45 to 64 27% 26% 26% 26%

Households 2017 estimate 79,730 75,950 155,680

2022 projection 84,543 79,453 163,996

2017 households with kids under 18 30% 32% 31% 34%

Average Household Income

2017 estimate $81,772 $69,567 $75,818 $80,853

% earning $75,000+ 42% 35% 39% 38%

2022 projection $90,746 $78,074 $84,607 $87,464

Education % college educated 71% 61% 66% 59%

1-MILE 3-MILE 5-MILE 10-MILE

Business & Employment

business establishments 1,396 4,800 8,443 11,704

daytime employment 12,058 54,295 87,439 115,522

Regional center for education, arts and recreation

Unusually wide trade area results in eclectic mix of urban and rural dwellers

Ongoing development along Interstate 5 creates dominant retail region

One of Top Best Places to Live — Livability, 2016

Ranked as one of the top ten places in the U.S. to do business — Forbes, 2015

1 Primary Trade Area 2 Secondary Trade Area 3 Total Trade Area


Predominant Market Lifestyle Segments

Conservative Classics—12% • Upper-middle-class age 55+• Childless singles and couples• College-educated • Enjoy comforts of home,

gardening, reading, and entertaining

• Frequent patrons to museums, the theater, and casual-dining restaurants

Accumulated Wealth—15%• 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

Cautious Traditionalists—16%• Over 55 year-old mix of

singles and couples• High rate of home ownership• Fans of reading, home-based

hobbies and travel• Enjoy eating out at family

restaurants• Pursue entertainment outside

the home

Mainstream Families—11%• Family mix with adults

age 35 to 50• Middle-class• Modestly priced homes• Maintain lifestyles

befitting large families• Rank high in outdoor

activities and sports

STARWOOD Capital MallTHE CENTER THE MARKET

Rene Daniels / Director, Leasing / 818.254.5722 / [email protected]

Bill Cikalo / Director, Big Box Leasing & Development / 312.283.5121 / [email protected]

Bryant Siragusa / Vice President, National Restaurant and Entertainment Leasing / 214.771.2003 / [email protected]

Naumann Idrees / Vice President, Leasing – West / 312.265.7046 / [email protected]

Starwood Retail Partners 1 East Wacker Drive Suite 3600 Chicago, IL 60601 www.starwoodretail.com

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

Sources: The Nielsen Company; State Department of Transportation; State and Local Economic Development Resources

02/13/18

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.

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