Outlet center development surging (source: shopping centers today)

Outlet center development surging, VRN conference told

Publish Date: September 15, 2014

TangerOutletsOttawa

The factory outlet concept is as hot with developers and investors as it is with consumers, said ICSC president and CEO Michael P. Kercheval, at the Value Retail News (VRN) Fall Outlet Leasing & Marketing Convention, in Secaucus, N.J., this morning. North American outlet centers continue to outperform traditional malls, he pointed out. “Sales today at U.S. malls are almost $480 per square foot,” he said. “But look at the outlet sector. The 205 outlet centers in North America are posting $532 per square foot. In fact, since 2009, outlet industry sales have more than doubled to $42 billion in 2013 from $19.9 billion in 2009.”

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source: http://www.icsc.org/sct/newswire/outlet-center-development-surging-vrn-conference-told

 

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