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Outlet Centers a Bright Spot in Retail Development

EAST RUTHERFORD, NJ-The value sector will expand overseas and is drawing investment interest, attendees are told at ICSC’s VRN Fall Outlet Leasing & Marketing Convention.

By Debra Hazel | Updated on September 20, 2011

EAST RUTHERFORD, NJ-With luxury retail still in demand, even as customers are insisting on value prices, it shouldn’t be surprising that the outlet sector is one of the most successful in retail real estate, according to speakers at the International Council of Shopping Centers’ 2011 VRN Fall Outlet Leasing & Marketing Convention. The conference concludes today at the Sheraton Meadowlands here.

Rent spreads have improved in the United States, new projects are being developed, and international expansion is increasing, reported several industry observers. “This has been the strong, steady core of our industry,” said ICSC president Michael Kercheval. “It took the Great Recession to realize it.”

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