Simon Property Group, a company that develops and manages quality retail real estate, has declared its proposal to further develop four of its premium outlet holdings placed in Washington, Illinois, Florida and California.
The developments will be performed by its Premium Outlets division and the development constructions are scheduled to commence in 2012.
Desert Hills Premium Outlets - Courtesy Simon Property Group
The construction expansions aggregating around 450,000 sq.ft, echoes the growing demand for leasing space, in productive outlet centers offered by well known brands and designers. It also shows that customers visit those outlet centers that offer them choice in their collections.
The proposed 140,000 sq.ft expansion proposed for Desert Hills Premium Outlets, located in Cabazon, California will enable the retail destination to have around 640,000 sq.ft of retail space. The outlet placed west of Palm Springs is one among the productive outlets where the cost or area is around $1,000 per sq.ft. The location currently boasts of 130 stores that sell top brands. The 80,000 sq.ft expansion at its Orlando Premium Outlets – Vineland Ave will improve the size of the shopping venue located away from Interstate 4 midway in between SeaWorld and Walt Disney World to around 630,000 sq.ft.
The Chicago Premium Outlets in Aurora, Illinois, which currently has 120 stores, will add 130,000 sq.ft to its present construction to achieve a total constructed area of 570,000 sq.ft. The Premium Outlets at Seattle will have around 100,000 sq.ft added to its present construction and will have around 500,000 sq.ft after the proposed expansion. The outlet has around 120 stores representing premium companies.
Source: http://www.simon.com/