Upscale discounters in the (tenant) mix

From a recent discussion at Retail Wire, here’s a comment on a “town center” in Oregon that was expecting a full-line Saks store and got an Off 5th branch instead. I believe that stores like Off 5th are great tenants for this kind of retail development:

I think the addition of stores like Nordstrom Rack and Off 5th is healthy, not only for the chains but also for lifestyle centers looking for a more diverse and upscale tenant mix. It’s not a practical expectation for most lifestyle centers to support a full-size, two-level anchor department store — with rare exceptions such as Easton in Columbus. And these types of stores still fit the aspirational profile of most “town centers”…after all, we’re not talking about adding a dollar store.

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