Jacksonville, Florida
Phase I: Opened March 2005
Phase II: Opening Late Summer/Early Fall 2007
Phase I: 1,040,000 Square Feet
Phase II: 180,000 Square Feet
Dillard’s, Dick’s Sporting Goods, Barnes & Noble,
The Cheesecake Factory, Maggiano’s Little Italy,
P. F. Chang’s China Bistro, Williams-Sonoma, J.Crew, Ann Taylor,
Sephora, Anthropologie, bebe, Sharper Image, Apple
St. Johns Town Center
St. Johns Town Center in Jacksonville, Florida, offers a combination of youthful,
affluent customers, a dynamic metro area, and a remarkably convenient location.
Phase I opened 100 percent leased in March 2005, and sales have consistently
been among the highest in the country for a lifestyle center. Phase II will open
in late summer/early fall of 2007.
Serving the entire market from Amelia Island to the north to St. Augustine and
the Palm Coast to the south, St. Johns Town Center is in the heart of an area with
tremendous job growth, a population with an average age in the mid thirties, and
strong cultural and business communities.
Market Overview: Growth, affluence, and opportunity
Over the five-year period from 2005 to 2010, Jacksonville is projected to add
more than 100,000 people and 49,000 households, bringing the total population
to more than one million and the number of households to more than 400,000.
•
More than ten million square feet of Class A office space is within two
miles of St. Johns Town Center. That not only translates into increased
traffic, but also helps fuel job growth, which in turn further spurs traffic
and—better yet—sales.
•
Jacksonville’s population is expected to grow by more than ten percent by
2010, adding even more affluence to an already young and affluent market.
•
With a low cost of living and no state or local income taxes, Jacksonvillearea residents have an above average percentage of disposable income.
•
Nearby beachfront communities are home to some of Florida’s most
affluent households—and just eight minutes from St. Johns Town Center.
•
In addition to the affluent coastal communities, St. Johns Town Center
is surrounded by some of Jacksonville’s most upscale residential
developments, including Queens Harbor, Marsh Landing, Ortega Forest,
and Mandarin.
•
Jacksonville has a rich cultural scene that includes the Jacksonville
Symphony Orchestra, which performs in the 1,800-seat Jacoby Symphony
Hall (the only true orchestra concert hall in all of Florida). Each year
the city is also host to major events, including The Players Championship,
the Gator Bowl, and the Jacksonville Film and Jazz Festivals.
Location: Convenient to the entire market area
Approximately eight miles from both the Florida coastline and the St. Johns
River, St. Johns Town Center is located at the intersection of Interstate 295 and
J. Turner Butler Boulevard. It’s an easy 20-minute (or less) drive from anywhere
in the area. Further, a number of major road improvements—scheduled to be
completed in the area during 2006—will make getting to St. Johns Town Center
even more convenient.
•
Interstate 295, encircling the city, makes the center easily accessible from
the entire area.
•
St. Johns Town Center is also convenient to Interstate 95, a major highway
that links Jacksonville to all of Florida’s east coast.
•
J. Turner Butler Boulevard is the only highway that connects Interstate 95
to the Jacksonville beachfront communities, and an additional two-lane
expansion is planned for this major east-west highway.
Project Overview: Building on success
St. Johns Town Center is a joint venture between Simon Property
Group and Ben Carter Properties. It opened 100 percent leased in 2005.
Retailers reported record sales during the opening weekend and continue
to do so.
•
Phase II, opening in late summer/early fall of 2007, will have
180,000 square feet of gross leasable area (GLA) and will include
approximately 40 high-end retailers and four restaurants. Many
of these retailers will have their only location in the Jacksonville
market at St. Johns Town Center.
•
St. Johns Town Center also comes with a full-time, on-site populace
of shoppers and diners—there are 450 condominiums located on
the property along with a 120-room hotel. Phase II plans include
an additional hotel and 500 luxury condominium units.
•
Nearby Deerwood Office Park includes more than ten million
square feet of Class A office space. It is the premier location
for corporate headquarters in the area, and its workers are an
attractive, ready market of both noon-time shoppers and those
looking for shopping, entertainment, and dining opportunities
on their way home. The Jacksonville suburban office market
brings an additional 60,000 daytime workers to within three miles
of the site.
St. Johns Town Center: At a glance
Phase I totals 1,040,000 square feet of gross leasable area. Phase II will add another
180,000 square feet.
PHASE I ANCHORS
•
Dillard’s—240,000 square feet
•
Barnes & Noble—25,000 square feet
•
Dick’s Sporting Goods—75,000 square feet
•
Shops and Restaurants—268,000 square feet
PHASE I KEY TENANTS
Ann Taylor
Anthropologie
Apple
Banana Republic
bebe
Caché
The Cheesecake Factory
Coldwater Creek
J.Crew
Lucky Brand Jeans
Maggiano’s Little Italy
P. F. Chang’s China Bistro
Sephora
Sharper Image
Williams-Sonoma
Anchors
PHASE II PLANNED TENANTS
•
Approximately 40 high-end retail shops
•
Four restaurants
Trade-Area Outlook: Positive growth
Significant population growth—almost ten times the national average—
and Jacksonville’s strategic position as a growing port city will drive growth in
employment and income over the long term.
•
Jacksonville’s diversified economy—retail sales, health care, insurance,
banking, and technology—helps provide stability and maintain consumer
buying power.
•
The area has added 31,500 jobs over the past five years, led by expansions
in health care, professional services, and leisure industries. The “Better
Jacksonville Plan” includes a $1.5 billion investment in transportation
improvements, including expansions of major access routes to St. Johns
Town Center.
•
Expansion Management magazine has ranked Jacksonville third on its list
of “America’s Hottest Cities” for corporate expansion and relocation. The
city has been in the top ten for six straight years, and is the only one to be
ranked in first place three times.
•
Money magazine recently recognized Ponte Vedra Beach, just eight miles
east of St. Johns Town Center, as the “Best Place to Live in Florida.”
•
Flagler County and St. Johns County, located directly south of the site,
are the first and fourth fastest-growing counties in Florida and are also
among the wealthiest in Florida. In fact, Flagler County is the second
fastest-growing county in the country.
Population: Ready to shop
Almost 60,000 residents have moved into the trade area since 2000, bringing
the population to nearly 922,731—and 1,217,000 in the greater Jacksonville
area. Strong growth is projected to boost the trade area’s population by more than
100,000 to nearly 1,023,390 by 2010, with total market population expected to
top 1,300,000 the same year.
•
St. Johns County, to the south and east of the property, ranks fourth among
Florida counties for population growth.
•
The youngest of any major city in Florida, Jacksonville’s population is
active and still very much in the acquisition phase of life.
•
The highest growth is in the number and percentage of households in the
upper income levels ($75,000+). By 2010, the household income breakdown is projected to be:
$75,000–$100,000––14%
$100,001–$150,000––11%
$150,001+––5.5%
To learn more about opportunities at
St. Johns Town Center, please contact:
DEVELOPMENT
TOM SCHNEIDER | PHONE 317.263.7032 | E-MAIL [email protected]
MATT DOELGER | PHONE 317.263.8177 | E-MAIL [email protected]
PAISLEY BONEY | PHONE 404.869.7000 | E-MAIL [email protected]
LEASING
ROBERT D. ALEXANDER | PHONE 817.685.3000 | E-MAIL [email protected]
BUTCH KNERR | PHONE 317.263.7932 | E-MAIL [email protected]
MARK DREFLAK | PHONE 317.263.2370 | E-MAIL [email protected]
JENNIFER LUGAR | PHONE 404.869.7107 | E-MAIL [email protected]
Information accurate as of 5/05/06. Sources: SPG Research; trade-area demographic information per MapInfo (2005).
Corporate Profile
Simon Property Group, Inc., headquartered in
Indianapolis, Indiana, is a real estate investment
trust engaged in the ownership, development, and
management of retail real estate, primarily regional
malls, Premium Outlet® centers, and community/
lifestyle centers. The Company’s current total market
capitalization is approximately $42 billion. Through
its subsidiary partnership, it currently owns or has
an interest in 285 properties in the United States
containing an aggregate of 200 million square feet
of gross leasable area in 39 states plus Puerto Rico.
Simon also owns interests in 51 European shopping
centers in France, Italy, and Poland; five Premium
Outlet centers in Japan; and one Premium Outlet
center in Mexico. Additional Simon Property Group
information is available at www.simon.com.
225 West Washington Street, Indianapolis, IN 46204 317.636.1600
Simon Property Group common stock is traded under the ticker symbol “SPG” on the New York Stock Exchange. “Simon” is a trademark of Simon Property Group, L.P.