The remaining shares are owned by local developer COGEP but Corio has an option to acquire this 25% at market value after six years. Phase one of the project is expected to open in 2011, and the project will be part of Corio's fixed committed pipeline. Total gross leasable area for phase one and two is slated at 332,600 square feet, and at completion of both phases Moulin de Nailloux will have 125 shops. Leasing has already started, and currently 21% of leases have been signed while another 12% are subject to signed heads of terms.

Corio said the Toulouse agglomeration, the fourth largest French city in population size, has 1.1 million inhabitants. National statistic institute INSEE anticipates a 22% increase in population in the next 20 years. Total catchment area – within 90 minutes - is 2.3 million people, while it has no nearby competitors. The closest factory outlet is in Bordeaux about 186 miles away.