Grapevine Mills said today it plans to add a 35,000-square-foot upscale shopping center near its mall that will be called the Colonnade Outlets.
The new shops, to be located adjacent to the Neiman Marcus Last Call clearance center and Saks Fifth Avenue's Off 5th store, will include "upscale, designer fashion outlets in an open-air promenade" with shaded patios and outdoor seating, according to a company release. Valet parking will also be available.
It will be the second Colonnade Outlets in the country for The Mills Corp., which Simon Property Group bought last year. The first Colonnade Outlets opened in 2004 at Sawgrass Mills in South Florida.
The Grapevine expansion is expected to open in the fall of 2010 and include 12 to 15 "luxury designer outlets."
Upscale tenants at the Colonnade Outlets in Florida include Barneys New York Outlet, Coach Factory Store, Polo Ralph Lauren Children's Factory Store, Salvatore Ferragamo Company Store and Crate and Barrel Outlet. It also has a Grand Lux Cafe.
Scott Mumphrey, president of The Mills Corp., declined to name any possible tenants for the Grapevine property.
The roster of tenants in Grapevine will replicate some of those in Florida, he said. But the Colonnade Outlets in Florida is "much bigger" than what is planned for Grapevine.
"It will not be the highest-end retailers that we have at Sawgrass," Mumphrey said. "I don't think that's necessarily today the right fit for Grapevine."
Regardless, mall officials hope the expansion will round out the image of Grapevine Mills, which opened as an outlet mall in October 1997.
"The Colonnade Outlets will bring an entirely new dimension to our shopping experience," said Bob Cesare, general manager of Grapevine Mills, in a prepared statement. "We're excited about introducing this concept to our area, because we know that Dallas is a brand-focused market, similar to South Florida. I know it will be a great attraction for shoppers who love finding designer brands at outlet prices. Now everyone can meet all of their shopping needs at Grapevine Mills."
Grapevine Mills, with about 1.8 million square feet, is the third-largest in the 17-mall Mills chain. Its financial performance on a square-foot basis is among the top five in the chain, Mumphrey said. He declined to give details.
In its release, the company referenced the expansion at the nearby Gaylord Texan Resort & Convention Center on Lake Grapevine.
Mumphrey said the mall is also helped by its proximity to Dallas/Fort Worth Airport and the confluence of major highways 121, 114 and 635.
"We believe this market has got a significant amount of additional upside and growth," Mumphrey said, "Almost unlimited." DAVID WETHE, 817-685-3803