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THE DISTRICT AT

15fifteen

a new mixed-use project 1515 Route 10, Parsippany, NJ 07054 (40.839196, -74.454327)


a new downtown retail

residential

dining

entertainment

The District at 15fifteen is an exciting new mixed-use project strategically located in Morris County, New Jersey. The project has 1,000 linear feet of frontage along Route 10, which carries more than 85,000 vehicles per day past the site. The property is bordered to the east and west by Interstate 287 and Route 202, respectively, giving it exceptional access and visibility within the region. The trade area is devoid of any significant retail or restaurant, and is ideal for a new destination that provides a combination of upscale national and local retailers, restaurants, cafes and specialty services that create a much needed vibrant downtown atmosphere.


206 23

trade

287

area

MONTVILLE 80

Rockaway Townsquare

ROCKAWAY

MOUNTAIN LAKES

DENVILLE

46 53

10

PARSIPPANY

10 287

MORRIS PLAINS

109,136

THE DISTRICT AT

15fifteen

513

HANOVER

206

MENDHAM

Willowbrook Mall

80 202

RANDOLPH

Population

$145,304

80

46

The Shoppes at Union Hill

46

296,624 Households

202

80

EAST HANOVER

MORRISTOWN

280 10

LIVINGSTON

513

24

Livingston Mall

202 5 MILE RADIUSMADISON

Average HHI

24

CHATHAM

34,140 (31.3%)

The Mall at Short Hills

SUMMIT

Annual HHI of $150K+

78

N Inte

5 Mile Radius Trade Area 12 Minute Drive

DOWNTOWN WESTFIELD y

Annual HHI of $200K+

78

kw

21,705 (19.9%)

287


exceptional

market

5 12 mile radius

minute drive

Population 145,923 Households 55,123 Average HHI $141,751 Annual HHI of $150K+ 19,056 Annual HHI of $200K+ 12,399

Population 299,316 Households 110,693 Average HHI $143,259 Annual HHI of $150K+ 61,655 Annual HHI of $200K+ 42,675


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80

Mo

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53

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nt

Av e

nu

e 10

let

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o nR

ad 80

GLAXOSMITHKLINE

287

ZOETIS

GAF ROOFING

PINNACLE FOODS INC.

any Roa

d

PBF ENERGY

Parsipp

202

THE DISTRICT AT

15fifteen

r Av

enu

New Location

le A ven

Major Employers

10

287

eda

ove

The District at 15fifteen

e

Ridg

Han

202

Company HQ

ue

53

10

202

W

hi

p

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world-class

companies The surrounding office market contains over 14 million square feet of corporate office facilities fueling the strong daytime population. Many Fortune 500 companies have their world or US headquarters within close proximity to the site. Additionally, a number of international pharmaceutical companies including Johnson & Johnson, GlaxoSmithKline,

5

mile radius

Bayer HealthCare and Novartis have major facilities in this office market, including two North American headquarters, which is the second largest in northern New Jersey.

fortune 1,000 company headquarters*

daytime workers within 5 miles

11,032

businesses within 5 miles

Pinnacle

zoetis

183,269

PBF Energy

191Corporate HQ’s employing over 51,000 people

14 million+ sf *North American Headquarters

of corporate office facilities


vibrant new

destination The District at 15fifteen is an exciting new mixed-use destination in the heart of Morris County, NJ, located at 1515 Route 10 in Parsippany. The project will integrate a unique high-end retail and restaurant tenant mix and residential options not currently available in the county — the 12th wealthiest in the country.*

The District will be a community gathering place for such things as a weekly farmers market, a summer concert series, and holiday events, along with the site’s convenient location and excellent visibility. It will provide a true and much needed downtown in an area where one does not exist.

Positioned to serve the strongest areas of Morris County, NJ, including Parsippany, Morris Plains, Morristown, Hanover, Madison, Randolph, Mountain Lakes and more, the center will be able to capitalize on the affluent households in the market: $141,770 average HHI in a 7-mile radius.

The market is exceptional by all standard demographic measures. Whether measuring the market by a 5- or 10-mile radius, each boasts an average HHI over $141,000 annually, with greater than 35% of the HH’s earning over $150,000, a median home value greater than $480,000 and a population in which over 50% hold a bachelor’s degree or better. *By median HHI according to the 2015 American Community Survey prepared by the US Census Bureau


Parsippany named 5th best place to live in the USA by Money Magazine, October 2016


shopper

profiles Kendall 28 years old Living in Morristown • Single attorney • $108,000 annual income • Young, active and fit, loving life • Always seeks a unique fashion find • Favorite accessories are her fitbit, new handbag and smartphone • Enjoys buying fresh from the farmers market and meeting friends out for dinner and drinks


The Thomas Family John (39), Kristen (38), Kyle (2) and Marissa (7) Living in Mountain Lakes • Working parents - John is a VP of sales and Kristen is a 3rd grade teacher • $265,000 in annual income • Their home is elegant and modern, yet comfortable • Their weekends are spent around town eating, shopping, and enjoying family time • They love taking the kids to movies in the park

John & Michelle Fisher Empty nesters Living in Madison • Getting ready to retire from Bayer making $168,000 annually • Love a great bottle of wine, going out to eat and spending time in the summer at their shore house • Their home is their haven and they take pride in it; entertaining often • They love music and the arts, frequently attending the MCPA in Morristown


The District at 15fifteen DEMOGRAPHIC COMPARISONS

RANK THE DISTRICT TICE’S CORNER PROMENADE AT GROVE AT PRINCETON BROOK 35 TOWN CENTER SOUTHLAKE EASTON TOWN KIERLAND DERBY STREET OUT AT 15FIFTEEN WOODCLIFF SAGEMORE SHREWSBURY MARKETFAIR PLAZA TOWN SQUARE CENTER COMMONS SHOPS LAKE, NJ MARLTON, NJ SHREWSBURY, NJ PRINCETON, NJ SEAGIRT, NJ LEAWOOD, KS SOUTHLAKE, TX COLUMBUS, OH SCOTTSDALE, AZ HINGHAM, MA OF 11 PARSIPPANY, NJ

5 MILE Population

6

145,923

209,426

151,293

141,317

101,076

124,637

203,472

113,798

252,389

190,867

128,816

Number of HH’s

6

55,123

73,037

60,758

54,152

37,028

51,246

87,936

40,494

104,622

85,346

50,504

Per-Capita Income

3

$53,708 $50,695 $45,872 $44,724 $55,741 $42,373 $45,941 $56,598 $26,241 $46,983 $39,522

Average HH Income

4

$141,751 $145,221 $114,017 $116,420 $151,347 $102,959 $106,132 $159,002 $63,168 $104,889 $100,617

Number of HH’s over $150k 2 Education

19,073

24,321

13,974

12,617

12,590

9,890

17,060

14,335

7,114

15,021

8,939

5

56% 59% 54% 49% 72% 47% 65% 61% 35% 56% 43%

% White Collar Employment 6

77% 77% 78% 67% 83% 67% 79% 78% 66% 78% 70%

(College Grad or Higher)

1

183,269

119,885

112,300

91,263

101,273

55,308

172,405

70,180

117,912

170,222

63,803

Population

7

268,268

431,908

301,797

218,007

231,988

213,884

372,095

271,533

512,364

321,100

258,379

Number of HH’s

8

99,439

144,047

123,022

85,407

87,377

87,900

160,792

102,539

213,460

142,350

101,336

Per-Capita Income

1

$52,677 $45,882 $41,998 $45,705 $47,988 $37,634 $40,930 $48,599 $27,248 $45,105 $37,530

Average HH Income

1

$141,770 $137,175 $102,874 $116,436 $126,765 $91,413 $94,563 $128,640 $65,003 $101,610 $95,495

Number of HH’s over $150k

1

Daytime Population

7 MILE

Education

54,662

44,222

23,005

20,241

23,592

14,064

25,566

31,377

16,436

24,057

16,416

5

53% 55% 50% 50% 61% 40% 59% 56% 41% 53% 41%

% White Collar Employment 5

74% 74% 73% 69% 77% 64% 75% 76% 67% 75% 68%

(College Grad or Higher)

Closest “Like-Kind” Center Short Hills Garden State Cherry Hill Brook 35 Bridgewater Shrewsbury Country Club Highland Polaris Scotsdale South Shore Distance Plaza Plaza VIllage Fashion Place Fashion Sq. Plaza 9 miles 8 miles 7.1 miles 13 miles 19 miles 13 miles 9.1 miles 9.5 miles 7.2 miles 8.1 miles 6.4 miles

Stanbery Development Group, LLC | 2807 Delmar Drive, Suite A, Bexley, Ohio 43209 | 614.824.2900 | www.stanbery.com


The District at 15fifteen REGIONAL MAP Passaic Tice’s Corner Marketplace

S Garden tate Pkwy

17

Sussex

DOWNTOWN RIDGEWOOD 206

Paramus Park

23

ROCKAWAY

Bergen

287 4

MONTVILLE

202

80

MOUNTAIN LAKES

80

Willowbrook Mall

46

53

PARSIPPANY 287

3

202

Livingston Mall

CHATHAM

280

The Mall at Short Hills

Manhattan Hudson

SUMMIT

78

78

Newark Liberty International Airport

Hunterdon

The Mills at Jersey Gardens

Union

DOWNTOWN WESTFIELD

1

95

Pk

w

y

78

ike rnp

95

MADISON 24

287

Ne w Ne Jers e w Yo y rk

LIVINGSTON

24

95

Tu

Essex

10

NJ

MORRISTOWN

280

Ne w Ne Jerse wY y ork

MENDHAM

EAST HANOVER

ke

206

HANOVER

pi

THE DISTRICT AT

15fifteen

95

UPPER MONTCLAIR

rn

MORRIS PLAINS

513

17

80 202

10

y

Morris

Pkw

RANDOLPH

80

tate

10

4

46

46

nS

46

Tu

DENVILLE

The Shoppes at Union Hill

The Outlets at Bergen Town Center Westfield The Shops at Riverside Garden State Plaza

NJ

ROCKAWAY

rde

Rockaway Townsquare

Ga

80

rnp Tu

206

NJ

Garden S

ta

ike

te

Somerset

Bridgewater Commons

202

287

Middlesex

Woodbridge Center

206

Menlo Park Mall 1

0

5 miles

10 miles

Stanbery Development Group, LLC | 2807 Delmar Drive, Suite A, Bexley, Ohio 43209 | 614.824.2900 | www.stanbery.com


The District at 15fifteen Development Team The District at 15fifteen will be owned by an entity related to Stanbery Development Group, LLC (“Stanbery”). The principals of Stanbery have had a successful career of developing mixed-use and retail projects. Specific to New Jersey, the principals have developed six retail projects totaling more than 700,000 square feet and in excess of $250MM in value. Stanbery’s most successful project is The Shoppes at Union Hill — a 90,000 square foot retail fashion lifestyle center, located in Denville, NJ, less than four miles to the west of The District at 15fifteen on Route 10. Stanbery will be able to leverage their market knowledge, local and national relationships, and proven track record in the immediate area to successfully reposition The Property. Since its founding in 2000, Stanbery Development has been focused on retail real estate development throughout the United States. Participating in, but nearly always controlling, projects from $5 million to $120 million in value, Stanbery has privately developed approximately $600 million of commercial real estate. Twelve of these projects have been developed from the ground-up and a number of others have been repositioning of underutilized assets. Additionally, Stanbery has engaged in joint venture developments ranging from a $5 million big box redevelopment in the Washington DC metro area to a $120 million joint venture with Prudential and Poag & McEwen. Stanbery’s powerful edge in the development industry stems from a team that consists of a specialist in each discipline needed to fulfill the vast scope of tasks and responsibilities demanded by niche development.

want to be a part of this

vibrant new development? contact Marc Hays, Partner, Leasing 216.577.6851 | mhays@stanbery.com


2807 Delmar Drive, Suite A, Bexley, Ohio 43209 | 614.824.2900 | www.stanbery.com

FOR LEASING INFORMATION, CONTACT: Marc Hays | mhays@stanbery.com | 216.577.6851

The District at 1515  
The District at 1515