Tuesday, October 23, 2012

Outlet Malls Galore!

My wife briefly entered the commercial real estate section of the local business news when she discovered that Tanger Outlets was building an outlet mall just a few short miles from our house! The only good news that I could garner was that I might be able to sit at home while she shops instead of grudgingly going with her and sitting on couches that are for sale in the stores.

Before the day was over, we discovered that Premium Outlets is coming too! Joy! Pure Joy! There is a substantial probability that there will be weekends that I may have the entire house to myself.

From CoStar.

I also secretly hope this leads to a large butt shaped water tower that is meant to look like a piece of fruit, similar to Gaffney SC - currently the closest location for Outlet-shopping fulfillment.


crabsofsteel said...

I'm a bit tired of being the only one who has something to say here. C;mon folks, AJs are being bid into the stratospere. Do you think they might be money-good?

InterestShortfall said...

You're holding down the fort by yourself!

Ah, the new world we live in...there are some relatively clean AJs that look like good purchases compared to the GG10 @ the 125-150 range. Plus with legacy duper bid lists negligible it was only a matter of time before the quest for yield tightened the AJs. That said, from what I've been seeing there are a lot of money jumping into the AJs without any really understanding of the risk or sf in general but they like the AJ vs a buying a duper with a 115-117 handle, <2% yld. The stupid money flowing in will lead to some tears.

While I think legacy dupers are money good, I would never make the same general statement about AJs.

Concrete Jungle said...

I've got some AJs to sell to the stupid money - please send them my way ;)

crabsofsteel said...

One of my favorite pastimes is to take a garbage AJ ( there are already quite a few which have fully or mostly stopped getting interest ), then running HDC to see which ins co. owns the hot potato. The best part is that those responsible can point to sell-side research which states that most AAA shortfall will be short-term and reimbursed. Like my name is Rapunzel!