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April
2004
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Cover
Story
 When
in Rome, do as the Romans - Go outlet shopping!
Seven outlet projects have opened in Italy in the last three
years - two in the Rome market - proving that this concept has been well-embraced
by fashion-conscious Italians. VRN talks with executives of four
developers - McArthurGlenn, Value Retail, AWG and Sandretto - about their
Italian centers and why the locals have greeted outlets so warmly.
Features
Primo Opening
Chicago Premium Outlets, located 45 minutes west of its namesake in Aurora,
ILL., releases its tenant list as it prepares to open this month. The
upscale center is shaping up to be the nation's only outlet project open
in 2004.
Selling Spree
A trio of independently owned outlet centers - including top performer
Rockvale Square Outlets in Lancaster, Pa. - are sold. The other two centers,
both smaller projects in California, share a common thread with Rockvale
as all rely heavily on tourism.
 Putting
Edge
A family's boring visit to a traditional miniature golf course in the
early '90s lead a Canadian businessman to try something different. The
result: Putting Edge, an enclosed, glow-in-the-dark miniature golf complex
that is opening a growing number of its eye-popping units in the United
States.
Genesco Puts a Lid On It
The chief executive of closely held Hat World expects plenty of good things
from the headgear retailer's pending acquisition by shoe retailer Genesco,
including accelerated store growth in outlet retail projects. The $165
million deal should close by the end of April.
New Chief at VFFO
Outlet industry mainstay VF Factory Outlet has a new president following
the departure of Prakash Bhatt, who retired from the company early this
year after more than three decades at VF.
Chelsea, Tanger Toast Stellar '03
The outlet industry's tow leading real estate investments trusts release
annual reports showing strong performances highlighted by expansion -
including new properties, additions and acquisitions - translated into
strong resultsin 2003.
Year-End Outlet Store Sales
The latest ORMA Sales Index reports underscore what a challenging year
2003 was for outlet retail industry.
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