500,000 SF Open-Air Outlet Center to Include Best Names in Fashion
Boston, MA (November 22) – New England Development announced today that they have retained FFO Real Estate Advisors to provide outlet consulting services and join them in leasing the 500,000 square foot Palm Beach Fashion Outlets in Palm Beach County, Florida. This exciting new, open-air outlet center is being developed by a partnership of New England Development, Eastern Real Estate and Lubert-Adler on an 80-acre property located on Palm Beach Lakes Boulevard at Interstate 95 in West Palm Beach, Florida.
Slated to open in 2013, Palm Beach Fashion Outlets will include the best names in fashion. The location benefits from strong demographics: Palm Beach is one of the most affluent regions in the country. Nearly 1.4 million people make this their permanent home, with a seasonal influx of wealthy second home owners dramatically increasing this base population for nearly six months of the year. In addition, approximately 4.3 million tourists visit the area each year to enjoy its beaches, god golf courses, resorts, and events.
FFO Real Estate Advisors is a full service real estate leasing and development advisory firm based in Baltimore, Maryland. Known particularly throughout the retail industry for their expertise in outlet center development and leasing, FFO is currently leasing six outlet centers including The Outlets at Bloomfield in Jackson, Mississippi; Newpark Fashion Outlets in Park City, Utah; and The Maui Outlets in Maui, Hawaii;
Leasing is being handled jointly New England Development and FFO Real Estate Advisors. Leasing inquires can be addressed to New England Development via phone at 617-965-8700 or via email at leasing@nedevelopment.com and to FFO Real Estate Advisors via phone at 410-779-1283 or via email at sferguson@fforealty.com
About New England Development
Founded by Chairman and Chief Executive Officer Stephen R. Karp in 1978, New England Development is one of the nation’s premier real estate development and management companies, with nearly 50 million square feet of retail, commercial and residential space to its credit. Led by Steve Karp, together with principals Steven S. Fischman and Douglass E. Karp, New England Development is acclaimed for creating imaginative, high-quality real estate developments. They have demonstrated time and time again their expertise in turning the most challenging situations into the most successful projects. These developments include mixed use complexes featuring retail, residential, hotel and office uses; lifestyle retail centers; power centers; marinas; golf courses; resort and convention hotel properties; even entire planned communities.
Known for having redefined shopping convenience with some of the country’s most widely recognized and successful enclosed regional malls, New England Development has experience developing, leasing and managing properties across the country. They have built more retail space in the past 30 years than any other developer in the Northeast. By working closely with residents, neighborhood leaders, investors, and tenants, New England Development has developed centers that reflect the best of their communities and have become, in many ways, communities themselves. Visit www.nedevelopment.com
About FFO Real Estate Advisors
FFO Realty is a full service real estate leasing and development advisory firm based in Baltimore, Maryland. FFO partners with developers and owners to guide and provide support in all facets of the development process, from site analysis and acquisition through to project completion and asset management.
With over 40 years of experience among the principals, FFO brings together the talents and versatile experience of three former Prime Retail leasing executives with a proven track record of leasing and project development success. Undoubtedly FFO offers a distinct competitive advantage in retail outlet leasing, where the company enjoys strong, personal relationships with virtually all of the active retailers in the industry. This is evident by the fact that the principals in FFO have sourced and negotiated over 5,000,000 square feet with lease values totaling hundreds of millions of dollars in the last 5 years.