In retail markets saturated with fortress malls and lifestyle centers, outlet centers represent one of the last opportunities for ground-up construction. While some rival regional mall REITS compete ferociously for limited space, others are partnering to build a joint development rather than spending money fighting each other, the National Real Estate Investor reports.
In a feature entitled “Clash of the Titans: Regional Mall REITS Fight for Limited Outlet Development Opportunities”, it says large regional mall players, including Simon, Taubman, Macerich Co., CBL & Associates Properties and others, have all made overtures to enter the outlet space. But with limited opportunities for development and an existing group of experienced landlords already competing there, these battles—competing press releases, wars of words and unconventional partnerships—are likely to continue to play out repeatedly throughout the country, writes Elaine Misonzhnik, the magazine’s senior associate editor.
Patrick Fox, president of The Saint Consulting Group, is also quoted in this story. Click here for full details.