VRN - March 2016
Thanks to its massive tourism industry, the Sunshine State has always been a hot spot for outletcenter development. And in an industry traditionally driven by tourism, the numbers tell the tale.
For the first Outlet Perspectives column – a new version of a column we ran in VRN from 1997 through 2000 – we asked several executives to describe the difference in spending at outlet centers between tourists and local shoppers.
Marie Driscoll recaps the NRF’s Big Show and Luxury FirstLook, where multiple learning sessions and keynote addresses spurred discussions and solutions for challenges facing retailers in 2016; Coach saw a significant inflection in its North American holiday business, led by improved retail and comp trends at the 204 Coach Factory Stores, with record Black Friday weekend sales.
Planned Center Updates
Johnny Rockets and Skechers will be among the tenants at Craig Realty Group’s Outlets at Richmond (Va.) when it opens in 2017; New England Development sets October opening for Outlets of Des Moines in Altoona, Iowa; Skechers, Express and Guess Factory Store are the first three tenants revealed for Outlets at Corpus Christi Bay, which is scheduled to open on Nov. 3; with a 2017 opening in sight, BFC Partners said in late January that its 340,000- sf Empire Outlets in Staten Island, N.Y., is 50 percent leased; Tanger Factory Outlet Centers jump-starts a transformation in Daytona Beach; Simon and Ivanhoé Cambridge team up to develop Premium Outlet Collection-Edmonton International Airport.
2016 Center Openings
VRN charts the nine phase 1 outlet centers that are scheduled to open this year – all except Tanger Outlet Columbus (Ohio), which opens June 16 – will have their grand openings in the fall.
News Up Front
Three outlet centers find new owners in January: Time Equities buys Simon center in Oregon; Dahlmann Properties Buys Tanger center in Fort Myers, Fla.; Walton Street buys KKR’s interest in Legends KC; and McArthurGlen Vancouver performs outlets above plan.