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Friday, November 20, 2009

High-end Retailers expand at Sawgrass Mills

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Sunrise, Florida - Our Net Lease Properties news is from west Broward County. This area is where the Florida Panthers play their NHL Hockey Games. Also this western suburb of Fort Lauderdale has the huge Outlet Mall, Saw Grass Mills.

We recently read that Sawgrass Mills is ready to expand again. The Sawgrass Mills Outlet Mall is adding to the Colonnade Outlets at Sawgrass Mills. The Owner, Simon Property Group announced the 22,000-square-foot expansion, which is set to open in the fall.

One main retailer will be the Italian company, Canali. This will be the first outlet store for Canali. The retailer Canalai has upscale clothing and is an excellent Italian menswear designer.

Some other new Net Leased Properties tenants will include, respectable Swiss watchmaker Tag Heuer, comfortable clothing by retailer Tommy Bahama, the must have, luggage and travel accessories maker Tumi and True Religion Brand Jeans. These will be the first South Florida outlet locations for these retailers.

The new retail Net Lease Tenants have stores which will be at the east end of the Colonnade section. This portion of Retail Net Leased Properties was a 2006 addition to Sawgrass Mills.

There are several Commercial Corners in this area. NNN Palm Beach has not invested in any of these Signalized Corner locations as of yet.

Sawgrass Mills is Florida’s largest outlet, with 2.4 million square feet. The project, which opened in 1990, offers more than 350 name-brand outlet and off-price retail stores, as well as entertainment and dining. The Colonnade Outlets at Sawgrass Mills is an 110,000-square-foot open-air promenade at the south side of the center.

Villagio, with Italian dining by Miami restaurateur Tom Bilante is also planning it’s entrance to Sunrise. Villagio will be located in a freestanding unit set to open in 2010.

Simon Property Group, Inc. is an S&P 500 company and the largest public U.S. real estate company. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers, The Mills, community/lifestyle centers and international properties. NNN Commercial Real Estate is still thriving in Florida.

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