As part of the re-branding process, Talisman is renaming the70%-leased center to Fashion Outlets at Santa Fe. JamesSchlesinger, president and CEO of Talisman Cos., says upgrades willbegin immediately on the 16-acre center at 8380 Cerrillos Rd. Hetells GlobeSt.com that work should be completed by early 2009.

Schlesinger points out that the center is the only outlet mallin New Mexico, so the decision to acquire it was a no-brainer. "I'ma fan of Santa Fe. I think it's a terrific area with a greattourism base," he adds. "A lot can be done with this property andwe saw it as a real nice turnaround opportunity."

Schlesinger also sees it as a good introduction of the FashionOutlets brand to the Southwest. The company has Fashion Outlets inNiagara, NY and Las Vegas. "We like the Southwest and West andwe're looking at some properties there," he says, adding Arizona ison the buy list.