Big addition to Seattle Premium Outlets to open next year

Published: Monday, October 1, 2012, 12:01 a.m.

Even on a recent work day, plenty of shoppers strolled up and down the covered outdoor promenade between stores and munched in the food court. Construction work to add more than 100,000 square feet of retail space ground on nearby. The work is visible to drivers whooshing past on I-5.

The outlet center in Quil Ceda Village has performed so well -- even in this sputtering economy -- that its owner, Simon Property Group, is adding around 14 stores' worth of retail space.

The project is expected to be completed by the middle of 2013. A new parking garage is already finished.

The success of the outlet center is a stark contrast to the fortunes of some of the owners of Everett Mall, who faced foreclosure earlier this summer.

"The appeal is our large collection of designer labels and name brands at great savings," said Mark Johnson, general manager of Seattle Premium Outlets.

Or, to put it another way, in good days, consumers enjoy a bargain and in bad times, they need it, said Linda Humphers, the editor of Value Retail News, an outlet industry trade publication based in Clearwater, Fla.

"Outlets have always done well in a difficult economy," she said. "They seem to be resistant to flattening."

The outlet industry is a small segment of the retail industry but it's growing. Nationally, there are 185 outlets, according to Value Retail News' State of the Outlet Industry report for 2012. Ten of those have opened in the past 18 months. Compare that to around 100,000 shopping centers in the U.S.

Even now when times are tough, outlet sales continue to grow. The trade publication estimates total industry sales at $25.4 billion this year. That's $3 billion higher than the estimate for 2011.

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Big addition to Seattle Premium Outlets to open next year