As it pertains to outlet stores, Graiser said the off-price sector's success isn't simply the result of bargains. He said Simon Property Group and Tanger Outlets, in particular, have done "a great job" with the properties, by building them as outdoor centers equipped with restaurants and other entertainment.
"They're creating an experience," he said.
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Although outlets do offer a value to many retailers, Graiser warned these stores aren't one size fits all. He pointed to Wet Seal's new CEO Ed Thomas, who said in September that the company's outlet stores are "underperforming," and that he "would not expect [them] to be a major expansion strategy going forward."
Graiser anticipates that in the next year or two, A&G will start receiving more calls from brands that are looking to exit the centers, which could potentially lead to the creation of mini-strip centers located just outside of the higher-cost outlet centers.
It's worth noting, however, that these issues are not exclusive to outlet centers. Because of the slowdown in construction, increased demand—and occupancy rates—are also squeezing retailers at the country's top full-line malls.
As a result, Michael Burden, a principal with Excess Space Retail Services, said ever since the recession, retailers are no longer just giving the "rubber stamp" to stores as their leases expire.
"They're really taking a look at the markets," he said.
CORRECTION: This story has been corrected to reflect that Graiser said Simon Property Group and Tanger Outlets have done a good job with their outlet centers.