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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 CENTER Capital MallTHE MARKET STARWOOD
• 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
THE MARKET Capital MallTHE CENTER THE MARKET STARWOOD
44 MILES
THE MARKET Capital MallTHE CENTER THE MARKET STARWOOD
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
THE MARKET Capital MallTHE CENTER THE MARKET STARWOOD
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
THE MARKET Capital MallTHE CENTER THE MARKET STARWOOD
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
THE MARKET Capital MallTHE CENTER THE MARKET STARWOOD
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
Erika Plummer / Senior Director, Leasing / 310.486.1536 / [email protected]
Rene Daniels / Director, Leasing / 818.254.5722 / [email protected]
Bill Cikalo / Director, Big Box Leasing & Development / 312.283.5121 / [email protected]
Charles Skaggs / Director, National Restaurant and Entertainment Leasing – West / 480.302.1474 / [email protected]
Naumann Idrees / Vice President, Leasing – West / 312.265.7046 / [email protected]
Mike Powers / Senior Vice President, Leasing / 312.242.3208 / [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
11/21/17
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.