Coral Springs Retail Outlook 2015

The Walk at University

WELCOME When the City of Coral Springs began to take shape more than 50 years ago, developers had one thing in mind.

They wanted to make Coral Springs a community that families would flock to, so their plans included plenty of amenities and conveniences, with planned residential subdivisions surrounded by shopping areas and more than 750 acres of parks and open spaces.

Our residents enjoy an unsurpassed quality of life, and our businesses continue to thrive as they serve a diverse and growing population.

Now, with exciting plans underway to reinvigorate Downtown Coral Springs, we really do have...

QUALITY OF LIFE

BETTER THAN EVER Coral Springs is the premier community in which to live, work and raise a family. The City of Coral Springs is well known as one of the most successfully planned suburban communities in the country. Incorporated in 1963, the diversity, character and quality of our community attributes including schools, parks, economic development and fiscal integrity, are enviable.

FAMILY-FRIENDLY Our quality of life defines the hometown feel of our community. We have one of the safest crime ratings in the state, grade A+ schools, and a dedication to arts and culture.

We capitalize on the strength in our diversity, and embrace all with our inclusive, welcoming nature. With some of the best facilities in the nation, we host many athletic tournaments year-round. Olympians train at our renowned Aquatic Complex, also home to national and international swimming and diving meets. The Tennis Center of Coral Springs features 12 Har-Tru courts and offers training programs for all ages. The Gymnasium keeps busy with gymnastics, cheerleading, netball and wrestling tournaments, and our 48 well-maintained parks support the community’s obsession with soccer, baseball and lacrosse. It’s clear to see we have a lot to cheer about.

INNOVATIVE GOVERNMENT

The City encourages and provides support through its Community Redevelopment Agency and Economic Development Office, including services for redevelopment, relocation, and expansion and retention of existing businesses. The City maintains high bond ratings such as Moody’s Aa1, Fitch AAA, S&P AAA, and local businesses rate the City’s overall image at 96%. Our community is a short drive from all major seaports, airports, and highways, and the gateway to Latin America. Our young and highly educated workforce continues to grow, taking advantage of a convenient downtown Broward College academic center.

The City is committed to ethical governance, adherence to its core values, transparency, innovation, collaboration, and exceeding customer expectations by delivering high-quality programs and services that meet the needs of an increasingly diverse community.

ATTRACTIVE AESTHETICS The City takes proactive measures to preserve and enhance the community’s appearance and to maintain its vital infrastructure. We lead by example in the stewardship and conservation of natural resources. As we keep up our community’s aesthetics, property values remain high.

ACTIVE & HEALTHY Our goal is to influence and support an environment that promotes active, healthy, and enriched lifestyles for residents of all ages within our City. By focusing on leisure, cultural, recreational, and sporting activities and festivals, we are able to infuse event dollars into the local economy.

QUALITY OF LIFE

THRIVING BUSINESSES

DEMOGRAPHICS

Coral Springs is home to 123,618 residents and has a diverse, relatively young population with one of the highest median incomes in Broward County.

FAST FACTS

INCOME

City Population 123,618 2018 Projected Population (Retail Strategies 2014) 136,761 Labor Force 71,299 Median Age 36.5 Average Household Size 3.3 Total Households 41,814 Family Households 78% Households with Children 40% Total Businesses 6,163 Unemployment Rate 5.1%

High incomes and short drive times throughout Coral Springs allow consumers to spend disposable income at a variety of retailers.

FROM DOWNTOWN:

2013 Population 2018 Projected Population Average Household Income Average Disposable Income

Radius 143,727 151,564 $83,800 $66,065

3 mile

Travel Time 240,021 253,627 $76,503 $60,936

10 min.

(lower than County & State)

RACE White, non Hispanic

EDUCATION (population age 25 and over) &.#'-,+#*)'('&%$#51.6% "!

Hispanic 23.5% &.#'-,+#*)'('&1.-0/ Black, non Hispanic

&.#'-,+#17.9% *

&'-#+2 Asian 5.1% &4%"$3

Other 1.9%

Graduate or professional degree 11.7% Bachelor’s degree 23.8% Associate degree 10.5% Some college, no degree 23.0% High school graduate (or equivalent) 23.6% 9th to 12th grade (no diploma) 5.1% Less than 9th grade 2.4%

Downtown Coral Springs is located between two geographic areas which are in the 80th percentile for highest income and highest educational 10 min.

3 miles

attainment nationwide.

(Washington Post & ESRI Analysis/Retail Strategies Consultant & RMA Consultant 2014 findings)

High Society: Affluent, well-educated, married-couple homeowners

5 min.

Upscale Avenues: Prosperous, marriedcouple homeowners in different housing 1 mile 3 min.

Metropolis: City dwellers in older homes reflecting the diversity of urban culture Solo Acts: Urban young singles on the move Senior Styles: Senior lifestyles by income, age, and housing type Scholars and Patriots: College, military environments High Hopes: Young households striving for the “American Dream” Global Roots: Ethnic and culturally diverse families Family Portrait: Youth, family life, and children Traditional Living: Middle-aged, middle income – Middle America

DEMOGRAPHICS

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DOWNTOWN

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DOWNTOWN

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DOWNTOWN

CORAL SPRINGS

ARTWALK Once completed in Fall 2015, the new ArtWalk in Downtown Coral Springs will provide a beautiful gathering space and a more efficient pedestrian experience, while connecting the area to Broward Health Coral Springs and The Walk at University retail and commercial complex. The ArtWalk will serve as the perfect downtown gathering space for residents, businesses and visitors to enjoy its 1,300 linear feet of park space, 300 feet of seating wall, six art sculpture locations, 52 tent capacity, and beautiful streetscaping and landscaping.

Bank of America

North

NW 31 CT

Hospital

Library

ART WALK

University Drive

NW 94 AVE

Coral Hills Drive

Post Office

Redevelopment plans for the Sample Road and University Drive area will create a connected, attractive and vibrant downtown to serve as the symbolic center of the City.

• With growing attendance, Broward College Coral Springs Academic Center is looking to partner with another higher education institute to expand capacity.

• The new 65,000 sq. ft. Municipal Complex and 600+ parking garage, a catalyst for redevelopment of downtown, will be completed in 2017.

• Downtown Infrastructure projects already underway will prepare the way for potential retail, residential and entertainment developments.

• Nearby Cornerstone Project, featuring a bank and restaurant near the ArtWalk, is scheduled to be completed summer 2016.

• Residential redevelopment plans are underway for 436 dwelling units within walking distance of Downtown, plus 250 new units nearby at The Country Club of Coral Springs.

• University Place at City Center office and retail building renovations (210,000 sq. ft.) are to be completed in Fall 2015.

• A $56 million expansion is underway at Broward Health Coral Springs complex.

• Construction of the Downtown Pathways will connect City sports parks, Center for the Arts and the ArtWalk, and is laying the foundation for future progress.

DOWNTOWN

DOWNTOWN PROJECTS

RETAIL HIGHLIGHTS

OPPORTUNITIES ABOUND Potential retail storefronts are available along all the major corridors in Coral Springs.

The City is a haven for small businesses but also ideal for large national retailers looking to anchor or redevelop existing shopping areas.

DESIGN ROW 90,552 SF • $5.8 M • 7355-7679 W. Sample Road

NORTHWEST CORAL SPRINGS AREA

sisyla• nClose A patoGnew residential developments Prime expressway access

GAP ANALYSIS Recent retail leakage reports indicate a need for $132 million in new retail to serve the expanding local population. The listed major store types include additional food, beverage and specialty stores.

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$20,823,997

Jewelry, Luggage, Leather Goods

$20,228,221

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Books, Periodicals, Music

$9,654,671

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$9,316,030

Special Food Services

$6,283,363

Furniture Stores

$6,177,114

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This main thoroughfare features a busy, unique 8-block retail corridor that serves Coral Springs and affluent residents of nearby Parkland and Coconut Creek – among others.

1

1 2 3

UNIVERSITY PLACE AT CITY CENTER 3111 N. University Drive • 203,000 SF 17,000 SF remaining retail

2

441,471 Trade Area Population

CORAL SQUARE MALL

THE WALK AT UNIVERSITY 2600 N. University Drive • 230,000 SF 33,000 SF remaining retail

3

ROYAL UNIVERSITY PLAZA 2556 N. University Drive • 98,000 SF 28,000 SF remaining retail

RETAIL HIGHLIGHTS

UNIVERSITY DRIVE

OUR RETAILERS

RECENT & UPCOMING RETAILERS Aldi Supermarket BJ’s Wholesale Club BJ’s Restaurant & Brewhouse Bonefish Mac’s Sports Grille The Brass Tap Bravo Supermarket Buca di Beppo Buffalo Wild Wings Chase Bank Dick’s Sporting Goods Gyromania Hobby Lobby Hollister California

Ladybird Academy Nick’s Pizzeria Panda Express PDQ Pei Wei ROC Resto Lounge & Fashion Shoe Carnival Sports Authority TD Bank Total Wine & More Ulta Beauty VisionWorks Wok Box Fresh Asian Kitchen

There are currently 83 acres of undeveloped land in the Corporate Park of Coral Springs. This land is ideal for distribution, logistics and manufacturing facilities.

The 442-acre Corporate Park offers convenient access to the Sawgrass Expressway, the Florida Turnpike and I-95, and includes more than 3.7 million square feet of industrial business space.

VACANT LAND 1 Prologis Park Sawgrass I

– 28 AC, $18.3 M 2

Prologis Park Sawgrass II

3

4250 Coral Ridge Dr.

4

Pan American Sites

5

Decoral Properties

6

441/595 Inc. Trustee

– 22.2 AC, $11.6 M

– 7.66/5.3/4.6 AC, $17.4 M

– 6.22 AC, $5 M

– 5.06 AC

– 5.4 AC, $3.5 M

Nearby: Kensington Square,

11595 Wiles Rd. – 17.2 AC

BUILDINGS FOR SALE/LEASE partial listing A

– 225,000 SF, $17.9 M

B

3900 Coral Ridge Dr.

C

3700 NW 124th Ave.

D

12175 NW 39th St.

E

2350 NW 39th St.

– 80,750 SF, $8 M

– 57,300 SF, $6.3 M

4250 Coral Ridge Dr.

– 28,339 SF, $3.19 M – 31,233 SF, Lease

CORPORATE PARK

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One Charter Place

/BUSINESS Community Redevelopment Agency • 954-344-1121 Economic Development Office • 954-346-6996 9551 West Sample Road • Coral Springs, Florida • 954-344-1004 CoralSpringsFL

CityofCoralSprings

CoralSpringsFL