Mills looks to Outlets
Simon’s megamall unit taps the shopper pleasing power of outlets to upgrade its Mills properties.
2015 looks robust for outlets
The outlet pipeline shows 11 phase 1 openings on tap for North America in 2015.
Planned phase 1 projects
From Alaska to Hawaii, from Alberta to Puerto Rico, 51 planned phase 1 outlet projects adding up to more than 19 million sf are in the pipeline through 2017.
Outlet center expansions
Thirteen U.S. outlet centers will expand by a total of nearly 1.4 million sf this year - that’s an average of 106,000 sf per expansion.
Can outlets save the day?
It’s no secret that outlet chains sometimes tenant non-outlet centers, and when enough of them do so, the result is a conversion, hybrid, the list goes on.
What opened in 2014?
Between expansions and phase 1 openings, the outlet industry gained more than 4.5 million sf of GLA last year
2014 center expansions
North American expansions in 2014 added 721,200 sf across 10 outlet centers - from Horizon’s 18,200-sf addition to Outlet Shoppes at Oklahoma City to the major 175,000-sf
expansion of Fashion Outlets of Niagara Falls USA by Macerich.