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Thailand: Kingdom of Opportunity

Inside:Neinver, TIAA Acquire Six CentresMcArthurGlen to Purchase RosadaO’Reilly Joins DOC&R

Valmontone Opens Food CourtFinland’s Zsar Adds RetailersRealm Praises Outlets

Batavia Stad Fashion Outlet

mcarthurglengroup.com

45 minutes from MarseilleFrance’s second most popular tourist destination after ParisFor leasing, contact Adrian Nelson at [email protected]

journey with usTake the

The first designer outlet in the south of franceOpening spring 2017

Contents

InsIde

Advertiser IndexFashion House Group .......................... BCMcArthurGlen ......................................IFC

Neinver ................................................... 7Prague The Style Outlets .................... IBC

4 Thailand Potential Aplethoraofinternationaltouristspresentsthe kingdomofThailandwithplentyofopportunityfor outletcentregrowth.

8 Dutch Merchant BataviaStadFashionOutlet,nearAmsterdam,is namedfora17thcenturymerchantship.

11 What’s the Next Step for Outlets? GuestcolumnistsRichardBeasleyand GilesMembreyexplainhowtostayaheadofthe competition.

12 Global Briefs NeinverandTIAAbuycentresinSpain,Italyand Poland;McArthurGlenplanstopurchaseRosada; O’ReillyjoinsDOC&R;Realmtoutsoutletcentres; Zsarnamesbrands;Valmontone’snewfoodcourt.

PAGE 4 PAGE 11PAGE 8

InternationalOutletJournalisapublicationforthenon-U.S.factoryoutletindustry.Copyright©2017

IOJ/ICSC1221AvenueoftheAmericas41stFloorNewYork,NY10020-1099www.valueretailnews.com

ICSC EUROPELondon,[email protected] [email protected] EditorDuke [email protected] DirectorRandy [email protected]/Production AssistantNatasha [email protected] Stephenson+18478351617Fax+18478355196sstephenson@icsc.orgSubscriptionsNatasha [email protected] BakerAmy Laughinghouse

2016/2017 ICSC Officers:Elizabeth I. Holland,ChairmanThomas McGee,PresidentandCEOKenneth Bernstein,ViceChairmanStephen D. Lebovitz,PastChairman

STAFF

Vol. 13 No. 2 Spring 2017

SPring 2017 INTERNATIONAL OUTLET JOURNAL 3

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45 minutes from MarseilleFrance’s second most popular tourist destination after ParisFor leasing, contact Adrian Nelson at [email protected]

journey with usTake the

The first designer outlet in the south of franceOpening spring 2017

4 INTERNATIONAL OUTLET JOURNAL SPring 2017

Cover story

Heavy tourism presents potential for outlet centres.By MIChAEl BAKERContribut ing Writer

On the road to the beach resort of Hua Hin, about 200 kilometres southwest of

Bangkok, Thailand, is a complex of concrete structures making up Premium Outlet Cha’am, one of 10 outlet centres around the kingdom operated by a Bangkok-base apparel manufacturer and distributor called Pena Group.

As you approach Hua Hin from the north, you pass through the small gateway town of Cha’am and a Moroccan-themed amuse-ment park called Camel Republic

Opportunity in Thailand

Premium Outlet Cha’am has 16,500 square meters of leasable area.


suddenly appears, break-ing the monotony of open fields and huge plots where groundbreaking has already occurred for new condo-minium developments.

And then, appearing out of nowhere, is Premium Outlet Cha’am. The centre features 16,500 square me-ters of leasable area. Brands include Pierre Cardin, Crocs and Adidas.

Pena Group’s projects are located strategically near many of Thailand’s main tourism hubs, includ-ing Chiang Mai, Pattaya, Phuket, Krabi and Koh Samui. The first, located in the beach resort of Pattaya, opened back in 2001. The last one opened in 2015 in the northern city of Chiang Mai, capital of the ancient Lan Na kingdom and gateway to Thailand’s justly famous hill country.

The case for factory outlet develop-ment in Thailand is strong, because although Thais tend not to shop at outlet centres, at least not yet, foreigners do. And in Thailand there are a lot of for-eign tourists.

The statistics speak for themselves. In 2016, Bangkok itself topped the list of global cities for international visi-tors with almost 21.5 million arrivals, according to the Mastercard Global Destinations Cities Index. This is no mean feat — Bangkok outranks Paris, London, Dubai and New York.

Visitors generally fan out from Bangkok to the kingdom’s fabulous array of attractions, which range from stunning ancient temple complexes to idyllic beach resorts with crystalline waters. Despite coups and a reputation for lack of safety on the roads, Thai-land has enjoyed staggering growth of international tourism in recent years. Total arrivals have increased from 10.1 million in 2001 to 32.6 million in 2016, according to Thailand’s Department of Tourism. (See Chart 1.)

More than a quarter of these tourists (Continued on page 6)

Pena Group operates 10outletcentresinThailand.

International Tourist Arrivals, Thailand 2001-16 (inmillions)

CHART 1

10.87

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

35

30

254

20

15

10

5

0

Source: Department of Tourism, Thailand

10.0811.57

10.13

13.82 14.58

11.74

32.59

14.46 14.15

29.92

19.23

22.3524.81

15.94

26.55

Cover story(Continued from page 5)


originate from the People’s Republic of China. (See Chart 2.)

In the capital, Bangkok, major shop-ping centre developers such as Siam Piwat, Central Group and the Mall Group have developed world-class retail projects cater-ing to tourists and wealthy Thai urbanites alike. They have helped turn Bangkok into one of Asia’s best shopping hubs.

Once outside Bangkok though, the pickings are much slimmer, where shop-ping options are concerned, and this is where factory outlet centres should come into their own.

Yet despite the presence of Pena Group’s 10 centres and some stand-alone outlet stores operated by another soft goods manufacturer, Fly Now Group, Thais aren’t known to shop at outlet centres much. So the reliance on tourists to drive spending at outlet cen-tres is overwhelming, and for tourists the outlet product needs to be really special and strongly differentiated from the mainstream mall product.

“Outlet malls are a small part of the total retail business in Thailand,” said Surachet Kongcheep, associate direc-tor of research at Colliers Interna-tional in Bangkok. “Thais and foreign tourists can usually buy the same products in conventional shopping malls.” Kongcheep adds that those same products are often available at the same or cheaper prices in the mainstream malls.

This points to a clear opportunity with a significant upgrade of both merchandising and pricing strategy at existing outlet centres.

The outlet centre at Cha’am makes this point very clear.

The centre would remind industry professionals of U.S. outlet centres in the early days of the format, with an extremely minimalist interior. It harkens to the days before retailers made a con-certed effort to upgrade the shopping experience to make it more consistent with their mainstream stores.

The service culture is another big problem, as the staff plays on their phones and not looking up when cus-tomers come into the shops.

Merchandising is patchy in terms of quality and depth, and discounts appear questionable despite signage blaring reductions of up to 70 percent or even 80 percent in some cases.

Traffic was light at Cha’am on a Sat-urday, with a smattering of Chinese and Korean tourists browsing the centre. Hua Hin itself, just half an hour away down Route 4, gets more than one million visi-tors a year, but unless the outlet product is exceptional they will prioritize the beach and the many magnificent seafood restaurants that are strung out along the waterfront. Shopping can wait.

What does the future hold for outlet centres in Thailand? As disposable

income increases among Thais and the locals more clearly understand the outlet value proposition, the shopping culture should move in favor of outlet centres. The tourist numbers are already there but the product needs an upgrade, pos-sibly in the same way as it has occurred in neighboring Malaysia where seasoned foreign operators have paired up with local joint venture partners.

The future will be bright when it arrives. c

CHART 2CHART 2

International Tourist Arrivals in Thailandby Country of Origin

(2015,inmillions)

International Tourist Arrivals in Thailandby Country of Origin

(2015,inmillions)

7.94

3.42

1.38 1.37 1.23 1.07 0.95 0.94 0.88 0.87 0.81 0.76 0.75 0.68 0.67 0.55

9876543210

Malaysi

aJap

anKorea

Laos

India UKRussi

a

Singa

poreUSA

Austrail

ia

German

yFra

nce

Taiwan

Hong Kong

Vietnam

Source: Department of Tourism, Thailand

China

Experience, Profitability and FutureA quality shopping experience based on location, architectural design, brand mix and services.The Style Outlets and FACTORY outlet centres offer choices that are functional and efficient while remaining attractive to shop operators and visitors. Marketing and leasing strategies that ensure successful results, increasing sales and foot traffic with over 50 million customers visiting our outlet centres in 2016. And all this upholding the principles of economic and environmental sustainability.

Roppenheim The Style Outlets - 5th Anniversary April 2017

300,000 M2 1,500 SHOPS

PUBLI IOJ FEB NEINVER 2017.indd 1 23/2/17 21:24


Centre spotlight

Dutch TreatBatavia Stad Fashion Outlet attracts Amsterdam visitorsBy AMy lAuGhINGhOuSEContribut ing Writer

W hen thinking of Amsterdam, a designer outlet probably isn’t the first attraction that comes to mind. But over the past

decade, Amsterdam has invested heavily in cultural offerings, hoping to leave its racy reputation behind and lure visitors with a taste for a different sort of high life.

Batavia Stad Fashion Outlet in Lelystad, a coastal town about an hour’s drive northeast of Amsterdam city center, was a prescient predictor of this commerce-minded makeover. It origi-nally opened in 2001 and today features 274,500 square feet of GLA and more than 100 stores. An expansion of an additional 59,000 square feet encompassing 45 shops is scheduled to debut this spring.

Luxury tenants include Armani, Michael Kors, Polo Ralph Lauren, Tommy Hilfiger, Hugo Boss, Lacoste and Guess. A host of popular Dutch designers and well-known active apparel brands like Nike, Helly Hansen and Adidas Originals add to the mix.

The center is noted for its main gate, which resembles the hull of Batavia — a 17th century merchant ship, a replica of which is docked just outside the outlet and a popular attraction in its own right. Inside the outlet village, brick-paved pedestrian avenues unfurl past shops styled as col-

orful clapboard structures resembling a fishing village and stylish stucco facades housing high-end brands.

Eclectic sculptures provide obvi-ous meeting points for shoppers. One example is a disembodied evening gown, frozen in a ghostly procession on a pedestal near a life-sized whale statue.

With a 90-minute catchment area and more than 2.1 million visitors per year, Batavia Stad Fashion Outlet counts shoppers from the Netherlands as its top market, but it is increasingly drawing more customers from over-seas. In the first half of 2016, total tax-free spending by international visi-tors rose 34 percent relative to 2015, with the greatest portion coming from

Batavia Stad Fashion Outlet is named after a 17th century merchant ship. A replica is docked near the centre.


(Continued on page 10)

China, Egypt and Israel. India and the Middle East, in turn, account for the fastest-growing groups of interna-tional patrons.

By providing a shopping shuttle that departs from close to Amsterdam’s cen-tral train station, priced at € 15 round trip for adults and € 7.50 for children, the outlet makes it easy for those stay-ing in the Netherlands’ capital to visit. If you want more flexibility with your travel times, you can also take the train to Lelystad, where you’ll then catch a bus to the outlet.

An information center offers tour-ism information, taxi service info and luggage storage. There’s also a children’s playground with a ship theme to keep wanna-be pirates entertained.

A variety of restaurants includes La Place, a deli-style brasserie with a menu ranging from soup and salad to pizza, fish, Asian cuisine and sweets from the patisserie. From a second-floor perch, La Place overlooks the aforementioned whale on one side and the Batavia three-masted ship on the other.

A highlight of Batavia Stad Fashion

A whale statue continues the nautical theme.

Commerce mixes with art at Batavia Stad Fashion Outlet.


Centre spotlight

Outlet is the more than a dozen Dutch brands. Perhaps the most unique store among them is Denham. Founded in Amsterdam in 2008, this niche company views jeans as an art form. To create a new pair with a well-worn look and patina, the com-pany employs 80 different processes.

Denham sometimes resells garments that have been pre-owned and broken in by another customer.

For instance, Denham bought a pair of jeans from one customer and is sell-ing them for € 320, reduced from from € 600 in a regular retail stores. Denham also sells jeans for as low as € 60 at the shop in Batavia Stad.

Next door at Oilily, shoppers are charmed by its collection of fun, fanci-ful women’s and children’s clothing and accessories in a variety of bright patterns. A floral print parka, reduced from € 299.95 to € 199 and a polyes-ter pink and orange polka-dot dress, marked down from € 239 to € 119, are particularly appealing. Other entice-ments include perfumes, lotions and wrapping paper. Who can resist a roll of gift wrap featuring a cat in sunglasses for just € 2.50?

At Scotch & Soda, racks are filled with casual men’s and women’s fash-ions. There’s an array of men’s cot-ton trousers in a rainbow of colors, reduced from € 89.95 to € 40, and a funky pair of ladies’ jeans embroi-dered with red lip prints, marked down from € 119 to € 53 A red vis-cose leopard print skirt is discounted from € 69.95 to € 31.

A sampling of other Dutch brands ranges from Claudia Strater offering sophisticated women’s wear; blingy beaded and sequined garments and accessories at Supertrash; lingerie at Hunkemoller; casual clothing and outdoor gear at Gaastra; children’s clothes at Lief !; and men’s clothing at Chasin’ and Suit Supply, where a tailor at a sewing machine can do minor alterations. There are also more Dutch shoe stores than you can shake a wooden clog at including Van Lier, G-Star, Fred de la Bretoniere, and Shabbies Amsterdam.

Finally, although it’s not Dutch, the Bjorn Borg outlet here is one of only three in the world, according to the sales clerk. c

(Continued from page 9)

Batavia Stad Fashion Outlet features more than a dozen Dutch brands including Denham (middle) and Suit Supply (above).


guest Column

By RIChARD BEASlEy, CEO, BWP Group and GIlES MEMBREy, managing director, Rioja Developments

We’re all familiar with the concept of out-let shopping. What was once a new and exciting concept has become an industry

standard and is simply an expectation for many shoppers across the world. Now that the outlet re-tail market is so mature, with a solid 25 years under its belt, is it still performing at optimum levels or could it do with a bit of a revolution? What does the next step for outlet retail look like?

Today there are fewer gaps in the market for new outlet developments. It has become a competitive space with outlet retail offerings widely available, and this means that planning a new scheme is not just expensive, but risky, too. Key considerations, such as location, catchment, transport links, local competition and so on, all need to align. Given the inherent difficulty in achieving this magic formula, some developers have opted to convert existing traditional shopping centres, but this route is no guarantee of success given that any one of these key factors could easily be off kilter.

We are beginning to see numerous operators choosing to redevelop and/or extend existing outlet schemes in order to move forward, which is a sensible option given that outlets are outperforming other property investments with significant growth in sales and double digit growth per annum. The redevelopment trend is spreading across Europe, including McArthurGlen in Swindon, Ash-ford, Parndorf, Value Retail at Bicester, and Neinver in Spain.

To get this right and be sure of success, there are some basics that must in place. In simple terms, it’s an A, B, C of outlet retailing. First, and most importantly, analyze and evaluate the local catch-ment to be sure there is a market for outlet retail. Next, ensure any vacant units are let with a targeted leasing programme that places the right brand in the right unit. Too many developers rush in their desire to fill space, placing small retailers in large units; it’s vital to keep trading per-formance top of mind. Be prepared to invest money in the right brands; in the long term it will actually make you money.

To maximise any changes to an existing scheme, it’s also vital

to get the marketing right. You can’t rely on discounted product to drive customers. Once the right retail offering is established you need to successfully communicate the experience that shoppers can expect to enjoy. We all know

about the discounts, but with extended sales periods in traditional centres and a certain level of cynicism about outlet stock, centres need to shout about the brands, the facilities, the restaurants and any new developments that will draw interest.

Schemes need to be smart about branding, creating a contemporary identity that shoppers will identify with and then putting this identity on the map. Ensure that signage is plenti-ful and far reaching, with a sense of arrival that gets people excited about the destination. Implement an integrated approach, so that your message penetrates the catchment and reaches as much of your target audience as possible through a marketing strategy covering TV, radio, billboards, digital channels, press advertising and public relations.

Premier Outlet Centre in Budapest is a great example of a successful outlet refresh follow-ing the implementation of a strategic leasing programme, installing new anchor tenants to improve income and strengthen market posi-

tion. Similarly, The Outlet and Junction One in Belfast were failing as the local market could not support two such similar schemes. Both have been revitalised; Junction One abandoning outlet retail for a mid-value convenience and leisure position, and The Outlet becoming The Boulevard, a mid-premium outlet model. The latter has already seen a 30-percent uplift in visitors and an average 19-percent in-crease in turnover for anchor tenants since the change of ownership and fresh marketing approach kicked in.

The redevelopment approach is crucial if a scheme wants to stay relevant to its audience and remain a desirable destination. If you’re standing still and doing nothing to improve, then in today’s market you’re going backwards; opera-tors must keep thinking and repositioning to stay competitive. As a scheme evolves, the right mix of tenants and complemen-tary facilities will excite and draw visitors, but only if they are well informed and aware of all the good stuff going on. c

Staying Ahead of the Game

G. Membrey

R. Beasley

The Boulevard, formerly The Outlet, is in Belfast.


global briefs

Th REAl ESTATE, acting on behalf of a joint venture between Neinver and TIAA, has agreed to acquire six outlet centres in Spain, Italy and Poland. Neinver will continue to act as property manager of the centres.

The Style Outlets purchased are Las Rozas, San Sebastian de los Reyes and Getafe—all near Madrid, Spain; Vicolungo (Milan, Italy), Castel Guelfo (Bologna, Italy) and Factory Poznan (Lubori, Poland).

These assets will add to the joint venture’s existing port-folio, which consists of: Roppenheim The Style Outlets in France; Factory Annopol Warsaw, Factory and Futura Park Krakow, all in Poland; Nassica Retail and Leisure Park in Madrid, Spain; and the newly opened Viladecans The Style Outlets, Barcelona, opened in October 2016.

“We enjoy a very successful and collaborative relationship with TH Real Estate and adding these strategic assets to our partnership confirms the firm commitment to creating a market-leading outlet platform in Europe,” said Carlos González, man-aging director of Neinver. “We have been in the outlet business in Europe since 1996 and have established a very successful track record. We look forward to continuing to add value to these as-sets by providing our specialist and dedicated asset management and operational skills across the whole portfolio.”

In additional Neinver news, the company said it has started

Neinver and TIAA Acquire Six Centres in Spain, Italy and Polandthe prep work for the construction of the Amsterdam The Style Outlets. The preparations will take up “the first months of 2017,” Neinver said, and the construction phase will start once preparations are completed.

“We are delighted that we are moving forward with Am-sterdam The Style Outlets, after thorough preparations in close cooperation with local and regional authorities,” said Sebastian Sommer, Neinver’s director of Northern Europe. “We have had more interest from potential tenants than ex-pected and research has shown that the Dutch public is ready to come to Amsterdam The Style Outlets after it has opened. We are proud to be able to build this centre close to the city centre of Amsterdam, and will be working hard to offer Dutch and international guests a great shopping experience.”

Amsterdam The Style Outlets is expected to open in 2018 and will feature 18,000 square meters of retail space and around 115 stores. A further 1,000 square meters is planned for leisure areas, restaurants with terraces, walkways, gardens and a child-friendly zone. The outlet centre will also offer 1,950 parking spaces: 1,450 in the complex itself and an ad-ditional 500 places near the centre on the Sugar City grounds.

At the same time, Neinver announced that work on Prague The Style Outlets is underway. Neinver will manage the cen-tre, which is expected to open in the fall.

VICOluNGO

SAN SEBASTIAN DE lOS REyES

FACTORy GETAFE

lAS ROZAS

CASTEl GuElFO

FACTORy POZNAN


(Continued on page 14)

VAlMONTONE OuTlET opened a new, 3,000-square-meter food court—the first for an outlet mall in Italy, according to Promos Group, the center’s manager. Designed by L22, the food court has seven food service units with brands including Alice Pizza, Burger King, Casa Ange-lesi, Cono, Kentucky Fried Chicken, La Piadineria and Old Wild West.

The food offering is “varied and differentiated, conceived to meet the preferences of every seg-ment of the clientele at any time of day,”according to Promos. With its own special entrance, the Food Court will have independent hours.

The strategic goal behind the project has a dual focus, according to Promos: It will increase the aver-age stay at the mall and also attract potential new customers in search of a place to have lunch or dinner.

The opening of this new area devoted to food service represents a continuation of the program to relaunch Valmontone Outlet under the management of Promos which began in January 2015.

“The new Food Court is a clear example of how concrete invest-ments in new formats can effectively relaunch existing structures with high unexpressed potential,” said Tomaso Maffioli, CEO of Promos. “This project

is the most visible part of the work we have been doing for almost two years, and the results indicate that it is the winning approach: the strategies of promotion and marketing, which we have applied since the outset, are giv-ing the expected results in terms of in-creased footfall, average expenditure and consequently of overall sales.”

Realm: Outlets Continue to OutperformREAlM REPORTED that its portfolio of outlet centers produced stellar results in 2016 with total sales increasing by 16 percent, and like-for-like growth of seven percent. Foot-fall for the year was up five percent.

December results were also healthy, with increases in total sales of 13 percent, and footfall climbing eight percent com-pared to 2015.

“Our portfolio sales growth for the year ending December 2016 and the level of leasing activity reflects growing confidence in the outlet sector from consumer and retailers alike,” said Colin Brooks, Realm’s managing director. “We are looking forward to delivering further sales growth and tenant mix improvements during 2017.”

Finland’s First Outlet Village Names RetailersFINNISh REAl ESTATE developer East Finland Real Estate (EFRE) announced that Nike, Hugo Boss, Guess and Le Creuset have signed lease agreements for stores in Zsar Outlet Village, the first open-space outlet village development in Finland.

Zsar is located in Vaalimaa, in south-eastern Finland, “immediately adjacent to the busiest border crossing point between the EU and Russia,” according to a state-ment from EFRE.

The addition of the new tenants means that 80 percent of the space of Zsar’s phase one (12,000 square meters) is now leased or reserved by premium interna-tional brands, according to EFRE. Zsar is scheduled to open in 2018.

“Zsar’s proximity to the Russian border, the current demand for an outlet in Fin-land and the good unit location we were able to secure at Zsar were the reasons to say yes to the project,” said Michael Munk, CEO Nordics, Le Creuset. “We believe that we have good potential to achieve success for the benefit of both Finnish and Russian consumers.”

Fashion house Outlet Centre Bucharest Adds levi’s, Motor JeanslEVI’S AND MOTOR JEANS signed lease agreements for a total occupied area of 329 square meters at Fashion House Outlet Centre Bucharest. The new store openings are scheduled for the first quarter of 2017.

With Levi’s and Motor Jeans, the num-ber of new brands that joined Fashion House Outlet Centre Bucharest this year rises to 13, after Kenvelo, Desigual, Colin’s, Triumph, Sport Vision, Issimo Home, R&R Boutique, Various Brands, U-Grow,

Multibrand Street & Go and Land Mobile. “We are delighted that Levi’s and Motor

Jeans chose Fashion House Outlet Centre Bucharest as their preferred partner for optimizing their operations in Romania,”

Valmontone Outlet Opens new Food Court

global briefs(Continued from page 13)


STAFF NEwS

O’Reilly, Kiely Fill New DOC&R Positions

Developers of Outlet Cen-ters and Retailers recently added two board positions as

Brendon O’Reilly and Ellen Kiely have joined the indus-try trade group.

As DOC&R’s international director, O’Reilly will bring a global perspective and encourage idea sharing between

the outlet industries in North America and Europe. He will also work with ICSC in Europe to further the outlet sector’s identity and presence.

As DOC&R’s membership director, Kiely will lead the organization’s initia-tives for attracting new members and maintaining the existing membership.

O’Reilly is the managing director of Fashion House Group, the devel-oper of three outlet centers in Poland (in Gdansk, Warsaw and Sosnowiec), one in Moscow and one in Bucharest, Romania, with centers in development in St. Petersburg, Russia, and an-other in Bucharest. Prior to his career with Fashion House and other outlet developers, he was the retail direc-tor of Reid & Todd, a 140-year old, family-run store in Glasgow, Scotland. Apart from operating outlet centers, O’Reilly also launched two successful outlet chains in Europe: Travel Ac-cessory Outlet and Playtex/Gossard/Wonderbra.

“I’m proud to be a part of such a great organization,” O’Reilly said. “I have been in the industry for over 20 years as a tenant, developer and centers

operator. From this perspective I have noticed one key element — in order to succeed, you should be strategically focused on the outlets. These assets are so different from typical shop-ping malls that it takes a lot of time to fully understand how to successfully run them. I am happy to share all my knowledge with others.”

Kiely has more than 28 years of experience in retail leasing, man-agement and development. She is a founder and partner at Kiely and Company, which specializes in tenant representation and leasing with a par-ticular focus on the outlet sector. She was previously president of the Mugar Group, where she managed a 12-mil-lion-square-foot portfolio of regional shopping centers and malls, as well as a partner at Finard Properties. Kiely is a former ICSC state director and New England Idea Exchange chair.

said Brendon O’Reilly, managing director of Fashion House Group. “As the local retail market evolves, the leading inter-national and local brands need a profes-sional solution to optimize stock and make additional profits. Fashion House Outlet Centre Bucharest is the only solu-tion of this sort in Romania and, through the collaboration with top-tier brands, we will continue to support our partners and consolidate the centre’s position as the best value-for-money shopping destina-tion for fashion lovers.”

McArthurGlen to Buy Rosada from ResolutionMCARThuRGlEN hAS entered into an agreement to purchase the Rosada Fashion Outlet in Roosendaal, the Netherlands from Resolution Property. Expected to be completed next month, the new venture will see McArthurGlen become the owner and manager of the popular 23,000-square-meter centre.

Rosada Fashion Outlet is located 30 minutes from Rotterdam, 20 minutes from Breda and 30 minutes from Antwerp and Belgium. It is currently home to 75 retail units including Nike, Puma, Esprit, Gerry Weber, Betty Barclay and Tom Tailor.

“The purchase of the Rosada Fashion Outlet reinforces our acquisition strat-egy,” said Gary Bond, McArthurGlen’s managing director of development. “It

forms part of our overall growth strat-egy which also focuses on greenfield de-velopment and organic growth. Rosada represents an exciting opportunity for our group and we are looking forward to taking it to the next level in 2017.”

Since its acquisition by Resolution in late 2012, Rosada has seen nearly 70 new lettings and renewals representing over 50 percent of the centre’s gross lettable area (GLA). Resolution opened Rosada’s 7,500-square-meter phase two extensions in May 2016 to total more than 23,000 square meters of retail space, increased turnover by 54 percent and created a broader brand portfolio and a higher positioning.

“The sale is a great endorsement of our team’s value-add strategy, unlocking Rosada’s potential through creative asset management and positioning it for con-tinued success under McArthurGlen’s ownership,” said Scott O’Donnell, partner at Resolution Property.

Rosada Fashion Outlet has an 18 million catchment area in 90 minutes. It features design and architecture typical of the region and is open air with the units arranged on the ground floor level only with large, single-glazed facades. The centre has 1,020 car parking spaces with an additional 600 spaces which can be used at the nearby leisure park which is approximately two minutes’ walk. c

Rosada Fashion Outlet is located 30 minutes from Rotterdam.

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