First Alaskan Outlet Center To Open in High-Income Area

Last Updated: March 12, 2012 04:54pm ET

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The Outlets of Alaska at Dimond Center will add 150,000 square feet of space to the currently thriving retail hub.

(Mark Your Calendars: RealShare REAL ESTATE 2012, March 22nd in Los Angeles).

ANCHORAGE, AK-Dimond Center LLC, owner and developer of the retail center here by the same name, will develop the Outlets of Alaska at Dimond Center, the states first-ever outlet shopping center here. Slated for completion in Fall 2013, the outlets will add roughly 150,000 square feet of gross leasable space to the Dimond Center, which currently features 750,000 square feet of retail stores including Best Buy, Old Navy, Gap, American Eagle, Forever 21 and Zumiez, along with popular restaurants and eateries, family-friendly entertainment venues and office space.

The retail hub is located less than 10 miles south of downtown Anchorage and six miles from Anchorage International Airport, in a region where consumers shop tax free. South Anchorage is also home to some of the highest-income earners in Alaska, with annual salaries exceeding $100,000.

Dimond has engaged FFO Realty, a leading real estate and development advisory firm headquartered in Baltimore, to lead leasing efforts on behalf of the project. FFO Realty brings more than 40 years of outlet-center leasing experience to Dimond Center, says Hugh Ashlock, a member of Dimond Center LLC. We look forward to working with FFO Realty to bring Alaskas consumer community and rich tourist market our states first-ever outlet-center shopping experience.

Ashlock tells GlobeSt.com that construction will begin on the outlet center in Spring 2013. So far, weve had very good response from typical full-line brandsthe same grouping in most outlet centers are very interested, and there are some luxury brands interested, too.

Dimond hopes to attract the bush shoppers residing in the states rural areas who come into Anchorage a few times a year for special events and medical care, ready to spend their permanent fund dividend checks at local retail outlets including Dimond Center, Ashlock continues. In addition, the cruise-ship industry brings 650,000 passengers through Anchorage every summer, providing additional tourist income for the area.

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First Alaskan Outlet Center To Open in High-Income Area