Palm Beach Mall will be redeveloped as Palm Beach Fashion Outlets, New England Development announced.
The deal would turn around the largely empty mall on Palm Beach Lake Boulevard near I-95 and revitalize it as an outlet center. It is expected to open in 2013.
New England Development with partners Eastern Properties and Lubert Adler resolved the problem of multiple owners of the million feet of space there by buying the main property from ORIX Capital Markets as well as separately owned Macy’s and Dillard’s department stores. Both of those anchors are closed; only JCPenney remains as an anchor tenant.
Marketing material presented at a retailers conference in Orlando in June named Nordstrom Rack, Bloomingdale’s Outlet Store and Neiman Marcus’ Last Call as premium outlet retailers that are interested in the location. Other outlets listed are Nike, Gap, Old Navy and Ralph Lauren.
Source: Palm Beach Post
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