Value Retail News: March, 2009

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Value Retail News

March 2009


COVER STORY

Nine Fine Trends
Unless the economy comes to a complete standstill in the coming months – which VRN doesn’t think will happen – nine outlet development trends are likely to shape the industry through the remainder of 2009. On the bright side, the outlet sector has already honed the art of focusing on value, exploiting opportunities and acting with speed – all key to weathering this economic storm. Those trends are:

  1. Traditional developers will continue to court the outlet sector.
  2. Outlet developer joint-ventures become the new business model.
  3. Look for an influx of smaller brands to open outlet chains.
  4. Retailers turn to their outlet chains for new customers.
  5. Center renovations take on a new meaning.
  6. Center expansions continue to boost new-space GLA.
  7. Arizona, California and Texas are still where the new outlet ACTion is.
  8. Outlet marketers work the new frugality.
  9. Outlet centers stay lean and green.
FEATURES

Web Sites
The outlet industry’s real estate consultants find their Web pages to be an inexpensive way to spread the word. VRN looks at five consultants using the Web to their best advantage.

Outlet Center Heroes
Almost every outlet center is a willing partner in its community’s charitable and civic programs, recognizing that good will and fellowship go a long way in the consumer’s mind. VRN features a few of these outlet center heroes.

Going Green
It was bound to happen in the independentspirited, environment-conscious Green Mountain State. EuroWest Properties’ Essex Shoppes & Cinema has gone green – incorporating techniques that range from the use of energy-efficient light bulbs to lowering the thermostat – and earned an official State of Vermont designation to prove and promote it.

DEPARTMENTS

News Up Front
The world’s largest outlet-center owner told analysts in January that 2009 will see pressure put on occupancy, but there are still chains that want to grow; the former Belz outlet mall in Las Vegas has won expansion approval; a new outlet-center site in Texas has a great site, a new joint-venture partner, commitments from 70 tenants, and a rotten economy.