Howard Hughes Corp., a Dallas development firm, recently announced it has acquired the Elk Grove Promenade site. Rather than a conventional shopping mall, the company is planning to convert the site to The Outlet Mall at Elk Grove, offering good news for the surrounding communities.
While outlet malls remain a small segment in the retail shopping sector, it is a market that has seen solid growth in the past few years. According to Craig Johnson of Customer Growth Partners, a retail consulting firm based in Connecticut, there’s a good reason for the recent success. He said:
“Customers … like the high-end luxury brands at discount prices.”
Designed to attract price-savvy customers from around the region, the outlet mall will feature such amenities as a 14-screen movieplex, green spaces for congregating, play areas for children, pedestrian-friendly walkways, a bevy of restaurants, and an outdoor dining plaza.
The good news for residents also applies to West Sacramento businesses. Companies that support retail operations with services such as brochure and catalog printing will no doubt welcome a major market expansion like the Outlet Mall at Elk Grove.
This will be the third outlet mall in greater Sacramento but, according to Abby Friedman, a commercial real estate analyst with Cassidy Turley, the region has enough population and economic activity to support another venture.