Monday, May 17, 2010

Albertville Premium Outlets

Last Wednesday I went to the Albertville Premium Outlets to visit my Kids Supercenter store there.

The Albertville Premium Outlets
Developer: Chelsea Property Group
6415 Labeaux Ave NE
Albertville, MN 55301
(763) 497-1911
Regular Hours: Mon-Sat: 10am-9pm, Sun: 10am-7pm

Albertville Premium Outlets is located at I-94 at County Road 19 between St. Cloud and Minneapolis, MN.

After a great visit at my Kids Supercenter store, I walked the center. Here are some of my observations from that visit.

The center is divided up into several sections. The mall lists it as two separate sections but in reality it is 3 separate sections. They mall calls the two sections The Plaza and The Promenade. The Plaza consists of 3 buildings. Buildings A and B are in the largest part of the mall which is horseshoe shaped. It has the largest parking lot and is easiest to shop. Building C is a newer phase, shaped like a strip mall with its own smaller parking lot. The Promenade is across County Highway 19 and is designed so none of the stores face its parking lot.

Buildings A and B have a total of 52 stores. This is by far the best section. It has the largest parking area and the most stores. Every store can be easily seen from anywhere in the parking lot and is easily shopped by the customer. There was one vacancy between Bass and Aeropostale.

Building C has 13 stores and also had one vacancy.

The Promenade is across County Highway 19. This is a 4 lane highway. There is a street light but I seriously doubt anyone walks across to this section. It is far from Buildings A and B and you have to cross the highway. If you are going to shop in the Promenade you will get in your car and drive over there. The Promenade has 35 stores and I counted 13 vacancies.

For comparison:
Buildings A & B combined: 52 stores 1 vacancy - 2% vacancy rate
Building C 13 stores 1 vacancy -7.6% vacancy rate
The Promonade 35 stores 13 vacancies - 37% vacancy rate.

New Additions:
I did see window signage announcing two new stores in the Promenade.

When these two stores open it would lower the vacancies in the Promenade to 11 for an 31% vacancy rate.

Mark Libell

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