X Team International announced that partner Strategic Retail Advisors has been selected as a broker for the 81,658 sq. ft. of development surrounding a premium outlet center made up of shops and pads fronting Avenida Vista Hermosa in San Clemente, California.
For a couple years now, outlet centers have been moving from the outskirts of cities closer and closer to downtown. Howard Hughes Corp.’s Outlet Collection at Riverwalk is the first to make it all the way downtown — into the center of the newly rebuilt New Orleans.
The recession lit the fuse that has produced an explosion of outlet center development.
The shrinking recession-era economy forced consumers to shop down, to seek out values, to wait for sales and to relentlessly refuse to pay full price. Even as the economy has begun to improve, consumers retained their commitment to off-price shopping. Lack of demand choked off the new development of malls, open-air centers, power centers and other kinds of full-price shopping centers.
Many retailers today are looking to bolster profits by offering merchandise outside of traditional locations. Well-known brands such as Gap, J. Crew and Disney all have been on the outlet side of retail for several years
Tanger Factory Outlet Centers and Gordon Group Holdings have entered into an agreement to develop an upscale outlet center at Foxwoods Resort Casino in Mashantucket, Conn., on the Mashantucket Pequot Indian Reservation.
Jones Lang LaSalle announced that it was selected for two retail assignments in Florida: management and leasing for the Galleria at Fort Lauderdale in Ft. Lauderdale and management for Vero Beach Outlets in Vero Beach.
Indianapolis-based Simon Property Group and Latin American retail real estate company BR Malls Participacoes S.A. announced Tuesday that they signed a 50/50 joint venture agreement to develop and own outlet centers in Brazil.
Indianapolis-based Simon Property Group said that its Premium Outlets division has launched construction of Phoenix Premium Outlets, an upscale outlet shopping center serving the Greater Phoenix and Scottsdale areas.