For Designer Style, It's All Outlet - Value Retail News

EurOpEaN OpENiNgS
europe flush with new FOCs
Six grand openings and
at least 3 expansions
add 162,000 m2 of
outlet GLA to Europe
By lINDA HuMPHERS
Editor in Chief
The economy might be wretched
and funding as scarce as hens’ teeth,
but outlet developers have hosted
at least six delirious parties this year in
celebration of their newly opened GLA.
Depending on how you count them,
by the end of this year four, five or
maybe even six phase 1 outlet centers
will have opened in Europe.
Four of those phase 1 openings are
projects in France, Greece, Sicily and
Spain that have added more than 88,000
m2 to Europe’s total outlet GLA. (See
stories on Coruna, ˜
Athens, Melilli and Nail-
loux in this issue).
McArthurGlen, which has been rolling
out new space with a vengeance,
also relaunched the former Factory
Shopping Messancy in April. The
center was completely renovated and
remerchandised to Designer Outlet
Luxembourg, but it continued operating
during the extreme makeover. Even
though MCG calls the opening a phase
1 project, it didn’t add new GLA to
the industry total, so we’ll opt not to
include it in the new-projects list.
4 InternAtIOnAl Outlet JOurnAl Fall 2011
Designer Outlet Athens
Designer Outlet Parndorf
Another project that might or might
not be included on the phase 1 opening
list is the 56,000-m2 Adana Optimum
Outlet Center. The reason for
our hesitation is that this center is in
Turkey, and we’re never sure where to
put Turkey – in Europe or the Middle
East. But any outlet center that can
draw 280,000 shoppers during its grand
opening week deserves to be on the list.
There were also three significant
expansions to McArthurGlen projects in
Austria, Italy and The Netherlands, which
added another 17,000 m2 to the total. Expansions
are proving a good way to make
a strong center stronger. In the U.S., Simon
Property Group recently announced
it would expand four outlet centers by
a total of nearly 42,000 m2. In some
markets, expansions are a way of telling
would-be competitors to look elsewhere
for new development opportunities.
Looking forward, VRN/IOJ counts 18
planned projects in 10 European countries
that have scheduled openings for 2012. If
all 18 planned projects were to open, even
though history shows they all won’t, they
would total more than 370,000 m 2 .
Who’s planning all these outlet centers?
Neinver is busy with four; Fashion
House with three; Promos and Rioja
with two each; and rounding out that
group, with one center each are Evo
Land Development, Hines, IPEC, ITG/
One Outlet Services, McArthurGlen
Group, Mutschler Group and Stable
Outlet Management.
Germany is the biggest hotspot for
2012 outlet-center openings – four
projects are scheduled to open there next
year. France, Italy, Russia and Slovakia
each could see two centers opening in
2012, and the remaining centers planned
for 2012 are in Finland, Poland, Portugal,
Serbia, Slovenia and Ukraine. c
European Phase 1 Outlet Openings in 2011
CENTER lOCATION DEVElOPER 2011 OPENING GlA SF GlA M 2
Adana Optimum Outlet Center adana, turkey renaissance/
amstar Global partners
april 602,800 56,060
~ ~
~
Coruna The Style Outlets
Coruna The Style Outlets La Coruna, Spain neinver may 137,800 12,815
Designer Outlet Athens Yalou, Greece mcarthurGlen Group June 226,000 21,018
Melilli Outlet Siracusa, Sicily Promos SrL September 258,342 24,026
Nailloux Fashion Village nailloux, France SanOUX SCI november 333,100 30,978
Total 2011 phase 1 GlA 1,558,042 144,897
Expansions to Existing Outlet Projects Opening in 2011
Designer Outlet Roermond, Phase 3 roermond, the netherlands mcarthurGlen Group august 77,760 7,200
Designer Outlet Parndorf, phase 4 Parndorf, austria mcarthurGlen Group September 57,240 5,300
la Reggia Designer Outlet, phase 2B naples, Italy mcarthurGlen Group September 48,000 4,500
Total 2011 expansion GlA 183,000 17,000
Source: VRN/IOJ