Northeast Real Estate Business

JAN-FEB 2016

Northeast Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Northeast United States.

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www.REBusinessOnline.com Northeast Real Estate Business • January/February 2016 • 25 The 1.1 million-square-foot Empire Outlets will be a tourist destination offering New York City experiences with a mix of premier retailers, restaurants and attractions. Rendering credit: SHoP Architects. The center will also feature its own dock for passenger boats and is part- nering with a tour operator to shuttle visitors by bus or across the harbor, giving Empire Outlets connectivity to various locations throughout Manhat- tan, Brooklyn and New Jersey. Along with the retail and attraction tourism, Empire Outlets will create more than 1,800 jobs and bring $285 million in private investment to Staten Island's North Shore. Differentiation The target audience for Empire Out- lets is different than targeted audienc- es for nearby Woodbury Commons and American Dream, says Ferarra. Empire Outlets is for individuals that want to experience NYC, not New Jer- sey or a suburb, and this is evident in each component of the center's pro- gramming. "Every single experience matters, and we want the visitor to repeat the process over and over again," Ferarra adds. The center is breaking the mold of traditional outlet centers by signing unique retailers, including traditional, boutique and luxury brands, and top- trending restaurant concepts as well as creating Staten Island's frst arti- sanal food hall. Currently signed retail tenants for Empire Outlets include Nord- strom Rack, H&M;, Gap Outlet, Ba- nana Republic Factory Store, White House|Black Market, Columbia Sportswear Co., Innovation Lug- gage, Francesca's Collection, Wilsons Leather, GH Bass & Co. and Obey Your Body. The development will also offer a variety of restaurant options, including Krispy Kreme, Rice & Co., Nathans, Häagen Dazs and the vari- ous purveyors at MRKTPL. "It's not surprising to see a new ap- proach to outlet centers as we've seen a drastic change in the way people shop over the past 20 years," notes Ferarra. Consumers want easy and immedi- ate access to retailers and products. People no longer want to spend an entire day on the traditional outlet ex- perience, and retailers are changing to meet the new demand with luxury de- partment stores opening outlet stores and outlet-style centers moving closer and closer to the city centers. Empire Outlets is more than 50 per- cent leased, with 156,000 square feet currently available, although a large portion of the balance is under nego- tiation and the company has received letters of intent on many of the spaces. Douglas Elliman Commercial is serv- ing as the leasing agent for the food and beverage components of Empire Outlets. James Prendamano and John Pitera of Casandra Properties are the retail leasing representatives for Em- pire Outlets. n

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