PROJECT CONCEPT. Current Leasing Opportunities 1,500 15,000 SF

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1 Leasing Summer 2011

2 Crossroads in Bellevue, Washington is a 40-acre shopping center with approximately 85 stores including: an international food court with approximately 27 restaurants, a performance stage, farmers market, community garden, public library, mini city hall with translation services, rides for children, and eclectic public art pieces throughout. PROJECT CONCEPT When Sher Partners predecessor, Terranomics Development, acquired Crossroads in 1985, the center had failed as a traditional shopping center. However, the trade area was strong and the property well located. Sher Partners developed a strategy to transform Crossroads into a unique community-serving facility like no other. Guided by our community-building principles and instincts, we created a vibrant center of activity for the east side of Bellevue, redeveloping, remerchandising and repositioning The powerful combination of value stores the center to make it the exciting place it is today. coupled with over 3,500 event listings on the Crossroads calendar each year gives Crossroads its unique personality and makes it the dynamic community center of Bellevue s Eastside. Crossroads is the area s defining project. Current Leasing Opportunities 1,500 15,000 SF CONTACT Bernie Gordon / Steve Gordon t: f: e: bernie@gordonrealestate.net 2

3 PROJECT CONCEPT CONTINUED Crossroads and the surrounding neighborhood have evolved over the past 20 years. We have upgraded and expanded Crossroads, which now covers almost 500,000 square feet. (Another well-known local Eastside business employing over 30,000 people Microsoft continues to expand its world Sher is the Bellevue developer and visionary who brought two failing suburban shopping centers back to life not just as temples of commerce but as gathering places where people come to spend time as well as money. headquarters on the same street.) In the process, we ve created a fresh new image for Crossroads as the energetic heart and focal point for east Bellevue s dynamic population. Crossroads has all of the excitement and none of the hassle of the downtown retail core. Crossroads attracts national attention for its successful mix of neighborhood retail, value retail, engaging family entertainment and community-serving amenities (satellite City Hall, public library, police station), the 8-screen cinema, and international eateries. The center and managing partner, Ron Sher, have received numerous accolades and recognition in both west coast and national publications. Eric Pryne Seattle Times business reporter 3

4 AERIAL Located less than 3 miles from downtown Bellevue and 12 miles from downtown Seattle, Crossroads is the community hub serving an immediate population of 83,000 and over 215,000 people within 5 miles. SITE PLAN 4

5 SITE PLAN FOR LEASE THE CONCEPT 18 International Restaurants Regional value. Unique retail. Eclectic ethnic restaurants. Engaging community entertainment. 5

6 SITE PLAN CURRENT OPPORTUNITIES Leasing is more than just filling a space Crossroads Aerial FOR LEASE 3,500 15,000 sf C-2 C-3 STONE GARDENS CLIMBING GYM C-1 FARMERS MARKET FOR LEASE 1,500 5,500 sf & Washington State Lottery K-16 K-15 CURRENT OPPORTUNITIES 0 1 DRESSBARN WOMAN COMING SPRING 2011 E-4 CF Kids F-15 MO CR K-3 K-7 Crossroads Bar & Grill OLD NAVY VERIZON FOR LEASE 1,500 sf FOR LEASE 1,500 8,900 sf BLOCK BUSTER VIDEO BANK OF AMERICA Restaurants in the Public Market BROS BBQ BURNEY DRAGON S WOK EXPRESS BOBA Stag e O CHAR THAI 1 Recliner Land 4,900 2 NE 8th 7,130 3 Barnes & Noble 4,000 4 Pier 1 Imports 3,100 5 US Bank 8,600 6 Cinema sign 3,600 BULGOGI TANPOPO AI SUSHI PIROSHKY PIROSHKY PAPAZZI PIZZERIA EBRU MEDITERRANEAN INDI BITE TOREROS TAQUERIA PAPAYA STONE COLD CREAMERY J-2 CROSSROADS CAFE FOR THYME SOUP DAILY PLANET 25 ZITI ITALIAN STARBUCKS COFFEE 6

7 IMAGE GALLERY Publicly displayed art is integral to the Crossroads environment. 8

8 IMAGE GALLERY CONTINUED The Stage, game areas and Farmers Market create an exciting backdrop that is unique, engaging and functional. 9

9 IMAGE GALLERY CONTINUED Community the P-Patch garden is just an example. In 2009, we provided 42 pesticide-free plots that are open to the public 10

10 IMAGE GALLERY CONTINUED Crossroads offers an eclectic mix of vibrant shops, specialty restaurants and integral services central to the needs of the community. 11

11 PUBLIC RELATIONS CROSSROADS & RON SHER (Sher) recast the mall as a public space, leveraging the ethnic melting pot that East Bellevue had become and turning a seeming liability into an asset. Guilbert, Julia. Suburban Soul Man. Seattle Metropolitan Magazine. 02/09 Crossroads in Bellevue, where the art pieces are sprinkled around caught my eye. I was impressed with the variety of international cuisine in the food court. Campanario, Gabriel. Good art and food intersect at Bellevue s Crossroads Shopping Center, Seattle Times. 1/11/10 WHEN AUSTRIAN-AMERICAN architect Victor Gruen conceived the first post World War-II shopping centers, he once told columnist Neal Peirce, he envisioned them as becoming roofed town centers, not selling machines. He later disavowed most of the 45,000 commercial malls in the United States, but, Peirce wrote, One would like to bring Victor Gruen back to life for just a day and take him out to Crossroads Mall. Dietrich, William. Community Developer, Seattle Times, Pacific Northwest Magazine. 11/06/03 12

12 PUBLIC RELATIONS CONTINUED Some malls will survive by becoming the biggest, flashiest, most exciting retail outlets in their region. But what of all the others? The survivors may well be those that learn to respect their neighbors, offer them a warm and welcoming place to sit and talk, senior days and single nights, day care, flowers, public art the great third place. Indeed, the future might belong to new, old town centers that Victor Gruen imagined and Ron Sher has made come true. Peirce, Neal R., Washington Post Writers Group. Can a Mall have a Soul? County News, National Association of Counties. 4/1/96 Sher actively encouraged people to use the mall for noncommercial activities, organized and ad hoc. All this activity has helped bring business to tenants that now include Michael s, Old Navy, and Bed Bath and Beyond. Equally important for Sher, it has made the neighborhood a more vital, cohesive place. Guilbert, Julia. Suburban Soul Man. Seattle Metropolitan Magazine. 02/09 He s been intrigued for decades by the notion that shopping centers could be places for social interaction as well as commercial transaction. Pryne, Eric. Restarting the Heart of Downtown Bremerton, Seattle Times. 10/19/08 Crossroads Shopping Center in Bellevue, WA, is an extraordinary gathering place for many reasons: a superb international food court, free live music, a farmer s market, and fierce chess tournaments. So it was no surprise to us when Ron Sher, Crossroad s developer, told us about his vision to turn part of a parking lot into a community garden. Pomegranate Center worked with gardeners and volunteers over three days to transform this lot into a beautiful, memorable community space. On June 12, 2009, the sound of power tools bounced off of pavement and across the mall parking lot calling the attention of shoppers and movie-goers passing by. Over the next three days, we worked together to build a garden fence, gateway, kiosk, benches and a picnic shelter. Over 30 volunteers - including every community gardener with a plot on the site gave their time to this project. I knew we were getting a fence, said Alex, a new gardener at the site and avid volunteer at the workshops. But I had no idea it would be this beautiful! Crossroads is now home to yet another unique community space a parking lot p-patch! 13

13 PROGRAMMING Over 3500 listings fill the Crossroads calendar every year. These activities attracting thousands of customers from the neighborhood and region bring business to Crossroads tenants. Market Stage Free Live Music every Thursday, Friday and Saturday night Annual Festivals and Fairs Performance space for schools, studios and community theaters Family Activities Weekly Play and Learn Story times Children s performers Rides! A place to play (both scheduled and spontaneous) Community chessboard Dominos, mah jongg, board games, Magic, bridge Crochet, knitting, art, bobbin lace Community events Arts association events Resource fairs and services Food drives Ethnic celebrations Farmers Market Programming engages the community, creates energy and enhances the shopping experience

14 DEMOGRAPHICS Highlights: 3 MILE 5 MILE RADIUS RADIUS Population 83, ,408 Households 35,930 90,470 Household Income $96,962 $111,974 Employment 43, ,105 Total Effective Buying Income 2010 $2,831,004,235 $8,217,294,292 15

15 NE 8th & 156th Avenue NE Bellevue, Washington crossroadsbellevue.com