Value Retail News: November, 2010

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Value Retail News

November 2010


Joining the Outlet Fold
Great Lakes Crossing Outlets, the new face of Great Lakes Crossing, a 1.4 million-sf Taubman Centers' property that opened in 1998 just north of Detroit, is expanding its outlet lineup and rebranding itself as an outlet center. The move is due, at least in part, to the success of its existing outlet tenants as well as shopper demand.

Taubman's Pipeline
Taubman Centers, the 60-year-old developer famous for its upscale regional malls throughout the U.S., is speaking reservedly about including pure outlet centers in its development pipeline.


Outlet newcomer brings the warm fuzzies
Old Farme'’s Almanac General Store, now a chain of five units, has something for just about everyone. The brand's thousands of SKUs, procured from about 200 vendors per season, range from prices of 25 cents for candy to $1,250 for a vividly colored, 30-inch-tall rooster, handcrafted in Italy.

Consumer Snapshots
Observers question the validity of today's "new" consumer; jewelry sales rebound, but with a twist or two; believe it or not, Detroit is tops in luxury spending; and more.

Two new outlet centers set to open
If you had to pick two days of importance for outlet retailing during 2010, you’d undoubtedly say Oct. 28 and Nov. 5. Those are the opening dates for the two phase 1 outlet centers opening this year. The projects – both opening in the South – will bring the industry’s total to 216 outlet centers totaling 60 million sf.

Development Briefs
Bloomingdale's opens more outlet units; Outlets at Anthem in Phoenix, Ariz., presents the "tallest fresh cut Christmas tree in the nation;" Tanger Outlets at Nags Head, N.C., present a local hospital with $100,000 in donations; construction begins on Simon’s Merrimack Premium Outlets; Craig Realty adds 36 stores to Citadel Outlets; plus more leasing news at outlet centers across the nation.