MILLS TO OPEN 5 OFF-5TH OUTLETS
NEW YORK — The Mills Corp., operator of the largest outlet malls in the country, said five more Off-5th outlets will open in upcoming Mills centers. The first store, at 28,000 square feet, will open at Arundel Mills, currently under construction outside of Baltimore, in November 2000.
The companies did not specify the locations of the other four Off- 5th units. However, Mills has other centers under development, where Off-5th may or may not have stores. A center in Nashville is scheduled to open May 11. Two others, in Atlanta and Toronto, are scheduled to open in 2001.
The multisite development agreement, a departure from traditional site-to-site leasing activities, extends into 2003. The first Off-5th store debuted at Franklin Mills in Philadelphia 1992. Since that time, Off-5th has expanded nationally and currently operates 44 stores.
Judith Berson, Mills’ executive vice president, said in a statement, “Off-5th has become a signature anchor for Mills’ portfolio of properties across the country. We are thrilled to begin the new century with an expanded relationship with Saks.”
Off-5th features American and European designers and brands in women’s career and casual sportswear, day and evening dresses, petite career and casual sportswear, men’s suits, sport coats, footwear and accessories. Merchandise is typically priced at 40 to 70 percent below original retail or comparable offerings at other stores.
Off-5th anchors all ten operating Mills properties across the U.S. The malls house manufacturer’s outlets, department and specialty store outlets, off-price retailers, category-dominant stores and restaurants.
Arundel Mills, a 1.4 million-square-foot retail and entertainment destination, is located at the intersection of the Baltimore-Washington Parkway (I-295) and Route 100. The center is expected to house more than 200 retail, dining and entertainment establishments.
Mills is a self-managed real estate investment trust (REIT) based in Arlington, Va., that owns, develops, leases, manages and markets malls and community shopping centers. Mills projects total approximately 16.8 million square feet in 13 states.