News for October 26th 2010
Leeds outlet mall to open near Treasure Island Bed and Breakfast
The latest major addition to Alabama’s retail scene will open its doors Thursday, as Birmingham-based developer Daniel Corp. cuts the ribbon on a new upscale outlet center in Leeds and counts on shoppers to flock there despite tough economic times.
The Shops of Grand River, with a total project value of $127 million, has a prime spot on busy Interstate 20 near Barber Motorsports Park and Bass Pro Shops, two developments that already are attracting tourists and shoppers from across the metro area, as well as far-flung locales.
And while the center is making its debut in time for the retail industry’s all-important holiday shopping season, it’s also arriving as many merchants and consumers are struggling to regain their financial footing after two years of strife.
Industry trends are on its side, however, as statistics show outlet stores have held their own during the downturn, while traditional retailers have reported steep sales slides.
”In this economy, a lot of people began making a trip to check out outlet centers because they didn’t want to give up quality, but they did want a better price,” said Linda Humphers, editor-in-chief of Value Retail News, a publication of the International Council of Shopping Centers.
Edited: October 26th, 2010