Baltimore-based Prime Retail Inc. has opened its 52nd outlet shopping center, Prime Outlets of Puerto Rico. The 176,000 sq. ft. first phase of the center is nearly 100% leased, and was 71% occupied at opening with 37 stores. Preleasing efforts for phase two are presently under way.
"Prime Outlets of Puerto Rico is already having a significant impact on the retail industry for the island," says Glenn Reschke, CEO of Prime Retail. "Sales figures for our merchants already rank among the top in their respective retail chains."
The opening of Prime Outlets marks a significant milestone in retail development in Puerto Rico as the first outlet center to open on the island. The development features many of the top brand names including: Polo/Ralph Lauren, Tommy Hilfiger, The Gap, Reebok, Brooks Brothers, Levi's/Dockers and Timberland.
Similar to other centers that were designed and constructed by Prime Retail, Puerto Rico is designed in a "village style" with rows of shops divided by manicured landscaped courtyards. The center also includes a children's playground, an enclosed food court and more than 1,000 parking spaces.