By Laura Elder The Daily News
Some observers of commercial real estate are shopping rumors that Randal Hall, a principal of Sonrisa Properties Ltd., is courting a well-known factory outlet mall operator to consider building on more than 20 acres north of Cross Colony Drive and west of FM 646.
Hall couldn’t be reached for comment. But word has it he’s very close to forging some sort of agreement with Greensboro, N.C.-based Tanger Outlet Centers.
Tanger, a publicly traded real estate investment trust, has ownership interests or management responsibilities for 33 outlet centers, including one in San Marcos. Outlet centers differ from regional malls by offering a concentration of discounted versions of popular stores such as, Calvin Klien, Coach, Gap, Kenneth Cole, Levi’s and Saks Fifth Avenue (Off 5th), to name a few.
Tanger outlets are defined by a mix of designer and brand-name manufacturers.
The outlet sector has been the bright spot in the retail industry otherwise hurt by sluggish spending, industry observers said. Consumers worried about layoffs, declining home values and vanishing retirement accounts have sought to buy their favorite name brands at discounts, according to a Jan. 29 article in Retail Traffic.
In late 2008, outlet malls began outperforming regional malls and strip centers, according to the publication. Large outlet malls can be big tourist draws. Foreign shoppers account for as much as 30 percent of outlet mall visitors, and they tend to make annual shopping trips for luxury items rarely discounted at home, according to online publication Retail Digital.
Last year, the city granted Hall’s request to rezone two parcels totaling 30 acres for commercial mixed-use. At the time, Hall planned a 20-acre retail center and restaurant and office space, according to city documents.
Hall told city officials the Texas Department of Transportation wanted to buy 13 acres of the property as right of way for the Grand Parkway, a major freeway with segments running from near Kemah, west to Interstate 45 and from I-45 west into Brazoria County.
The county is home to a small outlet mall, Gulfway Plaza at La Marque, 14047 Delany Road. The 20-year-old center struggled for years as an outlet mall but lately has found a profitable purpose providing space for some traditional outlet stores — SAS Shoe Outlet and VF Outlet — along with offices for governmental agencies, salons and even its anchor tenant, bingo hall Boot Kikkers.
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