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January 22, 2015 FORWARD | ADVERTISE

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Global Outlet NewsBrief is the only news update exclusively focused on outlet retailing and development. Emailed andposted online every two weeks, Global Outlet NewsBrief is edited and written by ICSC's Value Retail News and International Outlet Journal staff. Global Outlet NewsBrief is emailed free to all VRN/IOJ subscribers, and also delivered to those ICSC members who use our quick... more >>


"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 >>

Brisk week for closings by outlet developers

Several major REITs successfully executed a flurry of closing activity last week. Washington Prime, the Simon spinoff of May 2014, closed Jan. 15 on its $4.3 billion merger-acquisition of Glimcher Realty Trust, with the new independent company dubbed WP Glimcher, and trading publicly with the NYSE symbol WPG. Of note, WP Glimcher still owns and operates the 942,731-sf Outlet... 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 >>

Simon rebrands Mills at Jersey Gardens

As expected by many in the outlet industry, Simon has rebranded its recently acquired Outlet Collection–Jersey Gardens in Edison, N.J., as The Mills at Jersey Gardens. Glimcher Realty Trust had owned and operated Jersey Gardens, a 1.3 million-sf enclosed center that opened in October 1999. Simon reported a purchase price of $1.09 billion for a pair of projects, Jersey Gardens and... 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 >>

Wharton Realty acquires Vero Beach Outlets

Wharton Realty Group has acquired Vero Beach (Fla.) Outlets, a 329,000-sf project that opened in October 1994. Wharton didn't disclose a purchase price but said the center was valued at $38 million in 2009 when a bank took possession of the property. Vero Beach Outlets is the first entry into the outlet center sector for Eatontown, N.J.-based Wharton, which has a portfolio of over 6... more >>

Uniqlo opens first store in a Mills property

Uniqlo held a 10-day grand opening promotion at Great Mall in Milpitas, Calif. "This opening is significant as it marks Uniqlo’s debut induction into The Mills family," said Gregg Goodman, president, Simon Mills. Great Mall, a 1.36 million-sf value megamall, opened in 1994 and was acquired by Simon in 2007. Stores there include Abercrombie & Fitch Outlet, Hollister Outlet, Last Call by... more >>

Norwegian developers enter Finland outlet-center arena

Norway-based developers Fortus and Glastad Farsund are developing Outlet Village Helsinki in Vantaa, Finland, five miles from the main international airport, Helsinki-Vantaa, which handles 16 million passengers annually. The site is opposite an IKEA at the junction of Highway 50 (the Ring III route that connects to the airport), and E75, a major north-south highway. The 90-minute drive... more >>

UK outlet centers report strong holiday traffic

Holiday shopping surged at outlet centers in the UK according to reports from several fronts. This was in marked contrast to the season many mainline retailers recorded; the British Retail Consortium noted that December comp store sales fell 0.4 percent overall. Meanwhile at the outlets: • McArthurGlen Designer Outlet Swindon saw a 16 percent overall sales gain for the period from Nov.... more >>

Construction permits granted for Ghent outlet center

The joint venture of developer McArthurGlen and Belgian commercial real estate company Banimmo have obtained building permits for the initial construction work on McArthurGlen Designer Outlet Ghent. The partners expect to begin site work in a few weeks. The 344,000-sf project, first announced in October 2013, will be at the heart of a 568,000-sf retail and leisure development in the... more >>


Duke Ratliff
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Business Development
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Business Development
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