Outlet centers are booming during this economic downturn, said executives at the ICSC RECon show in Las Vegas. The three major owners, Chelsea Premium Outlets, Prime Retail and Tanger Factory Outlet, have roughly 4.5 million square feet of new space under development.
Though only 12% of the new retail under construction this year is applying for LEED certification, the number is sure to increase when the U.S. Green Building Council better defines LEED requirements for retail, said panelists at the ICSC RECon convention. Regency Centers and Development Design Group are just a few of the developers building more environmentally friendly buildings.
Macy's is expanding a pilot program that uses automated kiosks with touch-screen technology to sell electronics. The program, which has been tested in some stores for two years, will now be available at 400 locations.