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GLOBAL OUTLET BRIEF
November 24, 2014 FORWARD | ADVERTISE

Macerich and Lennar to build Candlestick outlet center

Macerich Co. and homebuilder Lennar have formed a joint venture to develop a $200 million outlet center as part of Lennar's $1 billion mixed-use project at Candlestick Point, just inside city limits in the southeastern corner of San Francisco. Fashion Outlets of Candlestick Point will be the third outlet center for Macerich, which has formed an outlet division that includes executives from... more >>


FN Factory Outlets renovating three Thailand centers

Thai owner/operator FN Factory Outlet is investing Bt100 million, or about $3 million, in renovations of three of its outlet centers in Pak Chong, Hua Hin and Sri Racha (Chon Buri). The center in Pak Chong will expand by about one-third, growing to 8,000 m2. The company, a unit of Fly Now Group, owns four other centers in Thailand, in Phetchaburi, Sing Buri, Kanchanaburi and Pattaya.... more >>

MCG to enter Spain with Designer Outlet Málaga

London-based McArthurGlen plans to open its first outlet center in Spain in 2017, with construction to start on Designer Outlet Málaga by fall 2015. MCG has formed a joint venture with Lisbon-based Sonae Sierra to build the 323,000-sf outlet center at a projected cost of $144 million. The project will be constructed in two phases: 183,000 sf for phase 1, and 140,000 sf in phase 2. DO... more >>


Overheard

"Our portfolio associated with value retail is a little over 34 percent of our business. In 2011 it generated $1.2 billion of our NOI. And it is growing." - David Simon, CEO of Simon Property GroupSee more details in the March 2013 VRN more >>


OFF Outlet Fashion Fortaleza opens in Brazil

São Paulo-based Varicred de Nordeste held the grand opening of OFF Outlet Fashion Fortaleza on Nov. 5. The 215,000-sf center opened with 53 tenants in a village format with an air-conditioned dining area and about 1,300 parking spots. The $30 million project, with capacity for 90 retailers, is the first outlet center in Ceará state, and the seventh outlet center in Brazil. Varicred de... more >>


By the Numbers

The world’s 35 largest outlet centers – those that are 500,000 sf or bigger – are mostly found in North America. Twenty-five of the world’s largest are in the U.S., and three are in Canada. Two large outlet centers are in China and two more are in Australia. The 35 centers total more than 23 million sf, or about one-fourth of the world’s total outlet GLA of 96 million sf. Chelsea... more >>


VIA Outlets Fund snaps up five outlet centers

VIA Outlets Fund, a new investor in the European outlet center market, has purchased five centers over the last three months. In September the major partner in the fund, London-based retail developer and financier Hammerson, announced VIA's acquisition of Batavia Stad Fashion Outlet in Amsterdam (283,500-sf) from Stable International Development and Fashion Arena Outlet Center in Prague... more >>


Outlet Agenda

Fall Outlet Leasing and Marketing Convention In September, the VRN Fall Outlet Leasing and Marketing Convention moves back to Secaucus, N.J., for an enhanced program that will include keynote speakers, marketing workshops and roundtables, one-and-a-half days of deal making, and the presentation of the ORCA and Hall of Fame awards. Qualified retailers get in free, and this meeting... more >>


Mills breaks ground on Colonnade expansion

The Mills division of Simon has begun site work on an 80,000-sf expansion to its 305,000-sf Colonnade Outlets at Sawgrass Mills in Sunrise, Fla. Thirty tenants will open when the expansion is complete in 2016. Colonnade adjoins the 2.175 million-sf Sawgrass Mills; together the complex hosts nearly 350 tenants. It is just off Highway 869 near the interchange with Interstate 595, the... more >>


Gordon Group, Oneidas plan outlets at Turning Stone

Gordon Group has entered a joint venture with the Oneida Indian Nation to develop a 250,000-sf outlet expansion of the tribe's Turning Stone Resort Casino in Verona, N.Y. The $100 million project has a targeted opening date of Labor Day 2016.  The Outlets at Turning Stone Resort Casino will feature 60 outlet tenants, a six-screen movie theater and a bowling alley. The resort, open... more >>


Tampa Premium Outlets gets planning approval

Simon got closer to the construction go-ahead for Tampa Premium Outlets, its proposed 430,000-sf center in Wesley Chapel, Fla., with a planned opening for holiday 2015. The Pasco County planning department approved the construction proposal on 57 acres at the intersection of Interstate 75 and Florida State Road 56. The Tampa Tribune reported that Simon closed on its $14.6 million... more >>


Macerich fully acquires FO Chicago

Macerich now owns 100 percent of Fashion Outlets of Chicago in Roesemont, Ill., having purchased the 40-percent stake of joint venture partner AWE Talisman. Macerich paid Talisman $70 million for the stake, with the valuation based on a capitalization rate of 6.5 percent. Macerich may make an additional earn-out payment in August 2016, depending on the NOI increase at the center over... more >>


Editorial


Duke Ratliff
Managing Editor
dratliff@icsc.org
+1 646 728 3570


Natasha Reed
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Sally Stephenson
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Global Outlet NewsBrief is an ICSC bulletin produced by Value Retail News and the International Outlet Journal. To subscribe to the Global Outlet NewsBrief, please email nreed@icsc.org.

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