Development of factory outlet centers may moderate in coming years, panelists say
Factory-outlet development has been steady since 2006, with the industry pushing out some 40 outlet centers. However, panelists at RECon believe the pace of this supply will slow in the coming years. Total 2013 outlet center sales reached $42 billion, compared with $19.9 billion in 2009, according to industry statistics. While some retailers have feared that the outlet centers would cannibalize sales within markets that also have “front-line” stores, the concern is subsiding in high-population areas, said Laurence Oster, principal of FFO Real Estate Advisors.