APPLE
KINGS PLAZA +
Brooklyn
A NEW ERA
Brooklyn is flourishing and leading New York City as the largest and fastest growing borough in multiple categories for its thriving community-life, vibrant technology hub, and high-quality apartments.
This accelerated growth sets the stage for an ideal opportunity for Apple at Kings Plaza.
32% increase in business with sales up 48% Tech industry increased by 42% since 2012 Population of 2.7M grew 9.1% from 2010-2020, an all-time high since the 1950s Median income growth nearly 60% Record high private sector employment grew 47.5% in the last decade 3
Source: Forbes, 2022; U.S. Census Bureau, 2020
Kings Plaza OPTIMALLY LOCATED
Kings Plaza is perfectly positioned in the heart of Southern Brooklyn. It is a major transportation hub with nearly 40K people on 1K buses stopping at the center every day. Multi-million-dollar neighborhoods of Marine Park, Mill Beach, Bensonhurst, Bay Ridge and Dyker Heights are right in Kings Plaza’s backyard, and located only three miles away is the Mill Basin Bridge – the most heavily utilized of the ten bridges in Brooklyn with 141K vehicles per day. Plus, nearby the center are 20 universities and colleges with 100K+ students.
5
Kings Plaza
A NOTABLE INFLUENCER
Kings Plaza is the premier and only super-regional shopping center in the energetic Brooklyn borough. In 2018, the former Sears box was reimagined, attracting successful brands Primark, Zara, Burlington and Target to thrive in its market. At the center of the redeveloped building is a four-story glass atrium, a new façade, exterior improvements and a new entry with visual and vertical connections to all four levels.
Continuing the momentum, Kings Plaza will further transform, redeveloping the Best Buy box into a community-driven entertainment and dining destination.
Former Best Buy - Future
7 Former Sears Box - Today
Kings Plaza + Apple
IN SYNC
Apple has already made its impact on Brooklyn with two successful locations. Kings Plaza, with its highly trafficked location and proven track record with best-in-class brands, would provide Apple with an exceptional third location in the vibrant borough where southern Brooklyn residents are underserved by an Apple store in this part of the market.
9
Apple MARKET OPPORTUNITY
Kings Plaza does not have a market overlap with an Apple Store within a 15-min drive time. Shoppers must drive at least 45 minutes in traffic to the nearest Apple store – providing a perfect opportunity for Apple to serve the southern Brooklyn community.
RICHMOND COUNTY Apple Staten Island 280 278 78 95 440 1 7
11 FDR Dr. Belt Pkwy. Belt Pkwy. Grand Central Pkwy. Cross Island Pkwy. KINGS COUNTY (Brooklyn) QUEENS COUNTY NASSAU COUNTY COUNTY HUDSON COUNTY COUNTY Apple Upper East Side Apple Downtown Brooklyn Apple Williamsburg Apple Queens Center Apple Grand Central Apple Fifth Avenue Apple West 14th Street Apple SoHo Apple World Trade Center Apple Upper West Side KINGS PLAZA 278 278 278 678 295 278 495 495 495 78 95 9A 1 11 No shopper overlap within a 15-minute drive time Source: Macerich Research 2022 | Data Source: Esri
Unique Shopper Cross-Shop Comparison (Dec 21-Nov 22) Source: Macerich Research 2022 | Data Source: Placer.ai Shared Shoppers Kings Plaza 1.88M Unique Shoppers Downtown Brooklyn Retail District 1.59M Unique Shoppers Est. Annual Visits: 5.7M Avg. Visits/ Shopper: 3.66 Est. Annual Visits: 7.9M Avg. Visits/ Shopper: 4.17 Est. Annual Visits: 2.5M Avg. Visits/ Shopper: 3.49 Williamsburg Retail District 728K Unique Shoppers 435K 23% Kings Plaza 27% Downtown Brooklyn Retail District 70K 4% Kings Plaza 10% Williamsburg Retail District
Apple
WELL-POSITIONED FOR NEW STORE
Greater Exposure
Kings Plaza has 1.88M unique shoppers annually – greater than both Downtown Brooklyn and Williamsburg Retail Districts.
Minimal Cross-shopping
Only 23% of Kings Plaza shoppers shop Downtown Brooklyn and 4% at Williamsburg.
Loyalty
Kings Plaza shoppers average 4.17 visits – 14% higher than Downtown Brooklyn and 19% higher than Williamsburg Retail District.
13
MACERICH (NYSE: MAC)
ONE OF THE NATION’S LEADING OWNERS, OPERATORS & DEVELOPERS OF MAJOR RETAIL PROPERTIES IN ATTRACTIVE U.S. MARKETS, INCLUDING CALIFORNIA, THE PACIFIC NORTHWEST, ARIZONA, AND THE METRO NEW YORK TO WASHINGTON, D.C. CORRIDOR