Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BALTIMORE-Over the next two years Prime Retail plans to either develop, renovate or expand some 1.5 million sf of outlet centers in several states as well as in Puerto Rico. Driving the ambitious schedule, according to Prime Retail president Bob Brvenik, is demand for change in this space.

“Never before has this category experienced such an incredible surge of support and demand for evolution from both consumers and merchants alike-our goal is to truly redefine and recreate the industry with them,” he says in a statement.

Much of the new growth is centered around the company’s presence in Orlando, Fla., Brvenik tells GlobeSt.com. In 2005 the company acquired an outlet center on which it began a full scale renovation and expansion. Phase 1 of that expansion and rehab–some 490,000 sf–of the now Prime Outlets International just opened last week. Phases 2 and 3, which will add another 490,000 sf to the Orlando market, will deliver next April. “We will be adding another 290,000 sf to that outlet and renovating 200,000-sf at Shoppes at Prime Outlets International, which is just a couple of hundred yards away,” he says. Phases 2 and 3 are part of the 1.5 million sf pipeline the company just announced.

It is also planning to renovate the 250,000-sf, 115,000-sf and 155,000-sf, respectively, Prime Outlets that are located in St. Augustine, Williamsburg and Puerto Rico. In 2009 it will develop a 400,000-sf Prime Outlet in Grand Prairie and a 420,000-sf store in San Francisco’s East Bay. It will also expand its Ellenton store by 125,000 sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.