Reis in the News
By Liz Wolf
Source: NREI – Are Outlet Centers Immune to the Retail Apocalypse or are They Next?
The outlet center sector has been one of the few bright spots in the retail industry, which has been in upheaval with retail bankruptcies and store closures.
Outlet centers boast brand-name retailers looking to sell overstock items and out-of-season merchandise to consumers who are looking for more bang for their dollar.
“It’s the best news in the brick-and-mortar category,” says Lisa Wagner, a principal with Outlet Resource Group (TORG), a Chicago-based outlet center consulting company. “We’re seeing increases continually in customer traffic and sales, which just proves that ultimately, customers want a brand and value combination, and they’re still seeing outlets as a destination.”
While fundamentals remain strong, the looming question is what does the future hold for the outlet center sector? Will it, too, fall prey to the retail apocalypse? Are there any cracks in the sector’s performance?