True Religion, Others to Anchor Bay Area Outlet Mall
True Religion, Gap, BCBG Max Azria, Michael Stars and more than a dozen more apparel brands have recently committed to leases for a new outlet mall being planned in the Northern California city of Livermore.
The retailers will join Neiman Marcus’ Last Call concept along with Adidas, Ann Taylor, Banana Republic, Barneys, Brooks Brothers, Dooney & Bourke, Coach, Columbia Sportswear, J. Crew, Michael Kors, Nine West and Tommy Hilfiger.
The proposed 470,000-square-foot center is being developed by Baltimore-based Prime Retail, which has more than 20 outlet centers around the country.
Construction is expected to begin in the coming months for the $156 million project, which tentatively has a completion date of the fourth quarter of 2010. The center has room for 120 tenants.
Outlet centers have been outperforming traditional retail development in part because of lower operating costs and stronger margins.
The development, to be called Prime Outlets Livermore Valley, sits in an area where median annual household incomes are $165,000 within a 10-mile radius. Average home prices are $800,000. Livermore is located 35 miles east of San Francisco. —Robert McAllister
