La Palmera-Enclosed Mall

Location Corpus Christi, TX Located on the Gulf of Mexico halfway between Houston and the U.S./Mexican border. Sits strategically on one of the major thoroughfares for tourists visiting the area. Port of Corpus Christi, the 6th largest port in the Nation, sits 150 miles from the U.S./Mexico border, with a 24,000 acre foreign trade zone (largest in U.S.)

Corpus Christi Trade Area

La Palmera 3-Mile View

SPID Retail Map

The OpportunityTOURISM Corpus Christi hosts 7M visitors/year, with an average HH income of $70,260. Study shows top two activities Mexican Nationals prefer while visiting Texas are shopping and the beach. Corpus Christi Convention & Visitors Bureau Survey Study suggests the #1 way to improve Corpus Christi’s appeal to Mexican tourists is to improve shopping opportunities. Corpus Christi Convention & Visitors Bureau Survey The Corpus Christi market is one of the strongest in the country with a RGI (Restaurant Growth Index) of 159 greater than Dallas/Fort Worth & Houston. Restaurant Business magazine

Untapped Opportunity Studies show evidence of substantial leakage today in Corpus Christi. Residents and tourists are choosing to shop in San Antonio, Houston and the Rio Grand Valley over Corpus Christi. - ERA estimates MSA is losing between $600M-$900M and the city is losing $375M-$600M - Perryman Group estimates Nueces County loses $400M 4.8 million Mexican Nationals live within a 5 hour drive of Corpus Christi Pull Factor for the city is below state average, despite proximity to Mexico and the beach. Bottom Line: There is unmet demand in Corpus Christi.

Demographics 3 Miles 5 Miles Trade AreaEstimated Population (2009) 102,877 176,566 464,487Estimated Avg. HH Income (2009) $64,219 $64,210 $56,370Estimated Med. HH Income (2009) $53,622 $53,039 $47,008HHs > $75K 12,881 (31%) 20,811 (30.7%) 45,281 (26.1%)Daytime Population 71,970 119,477 359,238 133,000 vehicles per day on SPID betweenTraffic Counts Everhart and StaplesApplied Geographic Solutions

The Mall: Current Facts Proven performance with $503 sales/sq. ft. Trade Area: 563,736 residents in Coastal Bend Region MGMT of America, Inc Only regional center within a 146 mile radius Anchors: Dillard’s, Macy’s & JCPenney Top Specialty Retailers: American Eagle, Abercrombie, Abercrombie & Fitch, Express, Aeropostale, Victoria’s Secret, Gap, Forever 21, Pac Sun (#1 in Texas), Kay Jewelers (#1 in Texas), Nine West, New York & Co., Gymboree, Vans, Charming Charlie and others. Coming soon: P.F. Chang’s, Patsy Grimaldi’s, Zumiez, The Aveda Institute and others.

The TransformationRe-Branding and $50 million Renovation La Palmera is now a world class retail and leisure destination with the feel of a high quality resort. Amenities include: • Open air lifestyle area at main entrance • Enclosed lifestyle court infused with natural light • New food court with a large aquarium • Children’s play area with aquatic theme • Exterior Palm Court with outdoor café style seating • Expansion and renovation of Macy’s and major Dillard’s renovation • Parking lot resurface, landscaping, lighting and upgrades to garage • Family restrooms added at 3 locations • New lighting and skylights throughout the project • Soft seating, fountains and public art integrated throughout the project

The DesignSite Plan: Phase 1

The Design Lifestyle Entry Court and Valet Drop offLifestyle Court/Center Court Transition Court

The Design Brand new food court– 2nd levelAquarium & Upper Level View of Food Court Children’s Play Area - Upper Level

The DesignSignage

The Design Dillard’s Junior AnchorJunior Anchor entrance – 2nd level North Side Restaurants

The RealityLifestyle Court: Aerial View showing fountain, softseating, lighting and indoor landscaping

The RealityLifestyle Court/Center Court

The RealityTransition Court Brand new food court– 2nd level

The Reality Aquarium & Upper Level View of Food Court Children’s Play Area - Upper Level

The RealityPalm Court: Outside Food Court and Junior Anchor

A Shared Vision On March 25th, 2008, the Corpus Christi City Council voted unanimously in favor and support of the renovation and revitalization project.“This renovation of Padre Staples Mall will change the retail landscape in South Texas.” - Wes Cherry, Dillard’s

La Palmera-Enclosed Mall

by Bill Morris on Aug 05, 2012

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