Value Retail News: August, 2012

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Value Retail News

August 2012


Merrimack Opens
A bright weekend in June proved to be a grand time for Simon Property Group to officially open Merrimack Premium Outlets in New Hampshire.


Up Front
Legends Kansas City goes into receivership with Woodmont Companies named as the asset manager; Tanger Factory Outlet Centers and Gordon Group Holdings confirmed they would JV on an outlet center at Foxwoods Resort Casino in Mashantucket, Conn.; site prep has begun on MCG's Designer Outlets Vancouver; Simon, Calloway and Smart Centres will develop Montreal Premium Outlets; Ivanhoe Cambridge plans to develop the Outlet Collection at Niagara.

2012: Year of the Outlets
Merrimack Premium Outlets, Opry Mills and Sands Bethlehem have already opened this year, and six more will launch by yearend, including two this month – Destiny and Grand Prairie.

Outlet retailing, that overnight success, that flavor of the day, that bright-eyed child, was the buzz of a lot of happy campers at ICSC's 2012 RECon, where practically everybody had something nice to say about the sector. Even the Outlet Special Interest Group drew an overflow crowd of newcomers.

Outlet Outlook
A comprehensive report from Citi Investment Research shows that outlets are an attractive option for retailers, particularly those that operate in more than one channel. In summary, the $30 billion outlet industry is providing retailers with new growth opportunities as they creatively increase exposure to this well-trafficked and cost-attractive alternative.


Development Briefs
Niagara outlet shoppers flip for Nik Wallenda; Craig realty adds staff to its marketing team; new GMs named at Mills properties; Paragon hires Galuppo; Sawgrass Mills breaks ground on a big expansion; plus leasing news from Tanger, Simon, AWE Talisman, Legends Kansas City, Dolphin Mall, Outlet Shops of Grand River, Lake Buena Vista Outlets and Shoppes at Sands.