Mark Libell
New Factory Outlet Center on the border of Mexico
The center is designed in a "race track" configuration to best utilize the contours of the site and provide maximum visibility for all storefronts. The site is unique in that it has direct access to the border crossing by pedestrians as well as vehicular traffic, so the U shape provides circulation and flow to the site.
- 1.25 million population within just 25 miles of the center’s Calexico, California location
- Sister city Mexicali is the third most populated border city in Mexico
- 47,000 daily northbound border crossings.
View Larger Map
The project is being development by Los Angeles, California based Charles Company. Leasing is by San Diego-based Epsteen & Associates, in conjunction with marketing, promotion and leasing support provided by EWB Development, with offices in Vermont, Philadelphia, Phoenix, and Washington, DC.
For more information you can visit their website at http://www.granplazaoutlets.com/
Mark Libell
Space available for lease at retail centers will decline next year
Space available for lease at U.S. local retail centers will decline next year for the first time since 2005 as consumer spending rises, according to commercial broker CB Richard Ellis Group Inc.
The availability rate, which refers to space being actively marketed and ready for tenant construction in a year, will fall to 12.8 percent for neighborhood and community shopping centers at the end of 2011 from a peak of 13.2 percent in the second half of this year, according to a forecast from CBRE Econometric Advisors, a unit of Los Angeles-based CB Richard Ellis.
“It’s going to be a slow and steady recovery over the next several years,” Abigail Marks, an economist at CBRE Econometric Advisors, said in a telephone interview. “It’s all about sentiment and really starting to see the economy recover at a consistent pace.”
Purchases at U.S. retailers climbed 0.4 percent in July, figures from the Commerce Department showed on Aug. 13. National chains that rent space from Kimco Realty Corp., the biggest U.S. owner of community shopping centers, have “selectively resumed their expansion strategies,” David Henry, the company’s chief executive officer, said on a July 28 conference call.
The availability rate at shopping centers started rising in 2006, CBRE Econometric Advisors said. That increase coincided with a surge in home loan defaults, which gained 20 percent in 2006 from a year earlier, according to the Mortgage Bankers Association. Demand for retail space fell as rising unemployment slowed consumer spending and retailers including Circuit City Stores Inc. filed for bankruptcy.
Rising Delinquencies
Delinquencies on loans backed by retail properties and sold in commercial mortgage-backed securities rose to 6.5 percent in July from 3.2 percent a year earlier, according to a report by Moody’s Investors Service on Aug. 12.
Consumer spending, which accounts for 70 percent of the U.S. economy, is being held back by an unemployment rate close to a 26-year high. The jobless rate rose to 9.6 percent last month from 9.5 percent in July, the Labor Department said on Sept. 3.
The availability rate at community and neighborhood shopping centers was 13.1 percent in the second quarter, up from 12.2 percent in the same period a year earlier, according to Boston-based CBRE Econometric Advisors. The rate probably will fall to 12.1 percent at the end of 2012, the research and consulting group said.
Rents in 2012
Rents may not rise at neighborhood and community retail centers before 2012, Marks said.
Neighborhood shopping centers tend to be 30,000 to 150,000 square feet (2,800 to 14,000 square meters) and are home mainly to convenience retailers. Community shopping centers are 100,000 to 350,000 square feet and may include a discount department, home-improvement or grocery store, according to the International Council of Shopping Centers, a New York-based trade group.
The 16-member Bloomberg Real Estate Investment Trust Shopping Center Index rose 14 percent this year through yesterday, compared with a 17 percent gain in the Bloomberg REIT
SOURCE: Bloomberg
600 Toys"R"Us Express Stores Opening
Toys"R"Us Express Openings Create 10,000 Jobs Nationwide in Advance of Traditional Expansion of Workforce for 2010 Holiday Season
Following the Success of the Express Store Initiative in 2009, the Company Opens More Than Six Times As Many Temporary Locations, And Introduces Eight Permanent Outlet Stores
Toys"R"Us® announced plans to operate approximately 600 Toys"R"Us Express stores in malls and shopping centers nationwide during the 2010 Christmas season, in addition to its 587 full-size Toys"R"Us stores in the United States. The major expansion of the Toys"R"Us Express initiative will double the number of Toys"R"Us locations available for holiday shopping needs as the company asserts its authority position by making itself even more convenient for customers. This sizeable rollout of pop-up stores represents an additional 2.4 million square feet of toy-selling space for the holiday season.
"By doubling the number of Toys"R"Us locations nationwide, now more than ever we will be available when and where customers want to shop with us this holiday season," said Jerry Storch, Chairman and CEO, Toys"R"Us, Inc. "We are pleased that this significant expansion of our Toys"R"Us Express initiative also creates thousands of new jobs beyond our usual seasonal workforce build."
Last year, the company operated its first pop-up stores with nearly 90 Toys"R"Us Express locations across the country, many of which have remained open through 2010. This year, Toys"R"Us will open more than six times the amount of these approximately 4,000-square-foot locations. New Toys"R"Us Express locations began opening in June in malls and shopping centers nationwide, and will continue to open through early November. Approximately 300 of these locations have already opened, spanning the country from Federal Way, WA to Saugus, MA. Similar to last year, the company will look for opportunities to keep select stores open following the holiday season.
Toys"R"Us Shops at Babies"R"Us® Stores Nationwide
In addition to the 600 Toys"R"Us Express locations, the company's more than 260 Babies"R"Us® stores nationwide will again offer a wider selection of toys for the holiday season. When searching for toys featuring kids' favorite characters from Toy Story 3, Cars, Sesame Street and Thomas the Tank Engine, parents will find a wide assortment of infant and preschool items from Fisher-Price®, V-Tech®, Playskool®, LeapFrog® and Crayola® while shopping Babies"R"Us. The toy shop within the store will feature Toys"R"Us signage so shoppers can easily locate the must-have gifts of the holiday season.
Toys"R"Us Express Openings Create 10,000 Jobs Nationwide for 2010 Holiday Season
With the opening of 600 Toys"R"Us Express locations this year, Toys"R"Us is hiring approximately 10,000 associates nationwide to staff these stores to help parents and holiday gift-givers find the right toys for the children in their lives. Employees are being hired for these stores in advance of, and in addition to, the company's traditional holiday workforce expansion for its full-size stores. At Toys"R"Us Express locations, customers will find the enhanced service and expertise they expect from Toys"R"Us as THE toy authority.
Positions are still available in Toys"R"Us Express stores for supervisors and sales associates. Those interested in applying for a position at a Toys"R"Us Express store near them should visit Ruscareers.com.
Express Store Initiative Leads to Eight Permanent Outlet Stores
Over the summer, Toys"R"Us Express stores at Sands Shopping Center in Oceanside, NY; Citadel Outlets in Commerce, CA; Woodbury Common Premium Outlet in Central Valley, NY and Great Mall of the Bay Area in Milpitas, CA that remained open following the 2009 holiday season were converted to permanent Toys"R"Us Outlet locations. Additionally, the company has opened permanent outlet stores in Gurnee Mills in Gurnee, IL; Philadelphia Premium Outlets in Limerick, PA; and Orlando Premium Outlets in Orlando, FL. An eighth outlet location in Jersey Gardens in Elizabeth, NJ will open later this fall.
The approximately 5,000-square-foot Toys"R"Us Outlets feature a wide selection of value-oriented products unique to these locations, as well as an edited assortment of the items available in full-size Toys"R"Us stores.
Toys"R"Us Express and Outlet Store Products and Services
On-the-go parents, grandparents and last-minute shoppers looking to purchase everything on little ones' wish lists in one quick trip will find a convenient selection of playthings and perennial favorites at the Toys"R"Us Express and Outlet stores, including dolls, action figures and educational toys to fit every budget. Gift cards, among the most popular items purchased at the Toys"R"Us Express stores last year, are available with great new designs.
Customers can get a jump start on the holiday shopping season by signing up for the new Toys"R"Us Christmas Savers Club at any Toys"R"Us store, including the Express and Outlet locations. This program allows shoppers to set aside money with the added benefit of earning a bonus, simply for saving early. Those who sign up for the Christmas Savers Club between now and October 16, 2010 will receive a three percent bonus based on the total funds they save. Customers can save up to $2,500 per card, which means the most aggressive savers can earn up to $75 on top of the money they load on their cards. To maximize the amount of time to save for holiday purchases, the bonus will be added to shoppers' cards on October 31, 2010, just in time for the kickoff of the holiday shopping season. To learn more about the Christmas Savers Club program, shoppers can visit Toysrus.com/ChristmasSaversClub.
In addition, customers shopping in the Toys"R"Us Express and Outlet locations will have the ability to register for Rewards"R"Us®, the company's customer loyalty program.
Furthermore, gift-givers can rest assured that even though Toys"R"Us Express pop-up stores may close in January, returns and exchanges can be made easily after the holiday season in any of the company's 848 Toys"R"Us and Babies"R"Us stores across the country.
SOURCE: PR NEWSWIRE
Nike Outlet Store Heads for Gretna Gateway
Twenty new jobs are to be created at a Nike Factory Store set to open at Gretna Gateway.
Peter Gardner, general manager at the cut-price outlet village, said yesterday that considerable reconfiguration work will be undertaken to create the new unit before it is ready to hand over to Nike Factory Store, and an anticipated opening date is yet to be confirmed.
The latest signing will take an 8,000 sq ft retail space at the popular shopping destination and is expected to create around 20 full and part-time jobs.
Mr Gardner said: “We’re delighted that Nike Factory Store has decided to locate its latest UK outlet store at Gretna Gateway. It is one of the world’s most recognized brands and will bring more jobs for the area and help to attract additional shoppers to the outlet village, which will in turn benefit all of our other stores as well as the local and regional economies.”
SOURCE: Dumfries & Galloway Standard
Japanese consumers shopping at U.S.-style outlet malls
But Japanese consumers — pinched by an economic downturn, shifting tastes and a super-strong yen — have started to eschew traditional flagship shops and department stores. Along with a surge in online shopping for luxury goods, an interesting development is taking root: shopping at U.S.-style outlet malls in Japan is soaring.
Premium outlets in Japan today account for 23 per cent to 29 per cent of purchase frequency in luxury fashion apparel and leather goods/accessories, according to a recent survey by McKinsey & Company. Steep cuts in highway tolls have helped fuel the boom. But mostly, it’s consumers who are tired of paying retail for goods that can be bought at a discount – even more so in today’s economic climate.
With the yen now hovering at 83.9 against the dollar, Japanese consumers are increasingly finding that it doesn’t make sense to shop at home and pay the “Japan premium” for goods that can be found cheaply online and overseas. Translation: they’re tired of getting ripped off, especially given that pricing across regions is now completely transparent, thanks to the web.
Some examples: a pair of fierce Jimmy Choo Feline elaphe snakeskin trim sandals cost 131,250 yen in Tokyo, or $1,572 at the current exchange rate. The same pair in the U.S. costs $1,095. Prada’s leather bow pumps are 73,500 yen in Japan, or $880, compared with $650 in the U.S. Abercrombie & Fitch’s men’s McLenathan Bay sweater sells for 25,000 yen, or $296.42 at the current exchange rate. In the U.S., the same sweater costs $170.
What to do, hard-pressed Japanese luxury buyer? Pack your bags, buy a ticket to the U.S., and shop your heart out.
SOURCE: The Wall Street Journal, By Mariko Sanchanta, Sept 8, 2010
Chic Outlet Centers launch luxury shuttle service
Chic Outlet Shopping has launched a luxury shuttle service that offer customers a transport solution operating from the heart of European cities: London, Dublin, Madrid, Barcelona, Frankfurt, Munich, Milan, Paris, Brussels and Maastricht to each of the nine corresponding Chic Outlet Shopping Villages in partnership with some of Europe’s leading travel excursion operators.
The Shopping Express is the first of several commissionable products to be launched this year by Chic Outlet Shopping where preferred travel industry partners benefit from net rates of up to 25% off tickets sales.
The service provides customers with a seamless mode of transport, a scenic option where comfort is the key to enjoying the regional vistas en route.
The luxury outlet Villages are located no more than an hour outside of a major European city, and have been designed to reflect the charm and sophisticated ambiance of the region in which it lies. Boutiques from a constantly evolving selection of the finest international designer brands, mixed with niche European collections and prices reduced by up to 60% and sometimes more off the recommended retail price, all year round, combined with restaurants and cafés serving local cuisine make for a perfect day out and a little escapism from the urban pace of the city.
Shopping Express tickets can be purchased online up to 48 hours prior to departure (with the flexibility to amend a booking also up to 48 hours prior to departure as well).
SOURCE: Asia Travel Tips
Another Opry Mills store goes into exile
Nike emphasizes the move to the Cool Springs Pointe development north of Moores Lane is only for the time being and that it plans to return to the flooded mega-mall once renovations and repairs are complete.
The iconic shoe giant is the latest retailer forced to find space after the May floods. A number of tenants have relocated to Lebanon's Premium Outlets – which changed its name from Prime Outlets after being acquired by Opry Mills parent Simon Property Group last week.
Some tenants appear ready to weather the closure – Bass Pro Shops has committed to hundreds of thousands of dollars in repairs since the flood, for example – but Simon has repeatedly declined to name any retailers who are looking to relocate, although certainly such a move is easier after last week's Lebanon acquisition.
SOURCE: Nashville Post by J.R. Lind
N3L Optics opens in Orlando Premium Outlets
Performance sunglass retailer N3L Optics, a division of Oakley, has opened its first factory outlet store. The outlet, which is located at the Orlando Premium Outlets in Orlando, Florida, will carry current and reduced price eyewear from 18 different brand manufactures.
Brands include Oakley, Ray-Ban, Revo, Smith, Electric, and Tag Heuer.
The store has interactive tools to help guide decision making, such as the “Explorer Chamber,” allowing customers to test their frame and lens against wind and ultra violet light.
“Providing our customers with the confidence that their eyewear will perform to their standards before they leave our store gives them the edge they need to elevate their game when they need it most,” says Kendra Reichenau, Senior Vice President of N3L Optics.
SOURCE: Transworld Business
Brands include Oakley, Ray-Ban, Revo, Smith, Electric, and Tag Heuer.
The store has interactive tools to help guide decision making, such as the “Explorer Chamber,” allowing customers to test their frame and lens against wind and ultra violet light.
“Providing our customers with the confidence that their eyewear will perform to their standards before they leave our store gives them the edge they need to elevate their game when they need it most,” says Kendra Reichenau, Senior Vice President of N3L Optics.
SOURCE: Transworld Business
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