Thornton’s latest shopping center will work well because it’s a mix of high end retail at discounted prices, according to Simon Premium Outlet’s CEO Stephen Yalof.
The fact that new Denver Premium Outlets is going up in the heart of the Metro North development boom doesn’t hurt either, Yalof said.
“We look at two things when we pick a new location — local population base and tourism,” Yalof said. “Denver is market that jumps off of the page because it has both. The local population is booming, particulary on the north end of Denver. We feel like are smack in the hole of the donut, 15 minutes from Denver proper and right in middle of this explosive growth.”
Yalof was on hand Oct. 5 with other Simon staff, city and county officials and representatives from a handful of high-end national retail representatives to officially break ground on the new shopping center, due to open next fall at the northeastern corner of Interstate 25 and 136th Ave.
“We are not just a community center, but we are super regional in scope,” Yalof said. “We plan to pull from the entire metro Denver market. Ours is a power shopping experience, and people will come because they want to shop famous brands.”
Site work on the project actually began this summer, clearing the lot, installing utilities and beginning work on a gull-wing roofed food court near the center of the lot. When it’s finished, the site will host 330,000 square feet of retail space with room for 80 retail outlet stores.
Indianapolis-based Simon operates retail operations throughtout the country, ranging from luxury malls to mills — like Lakewood’s Colorado Mills — and premium outlets. The outlets feature retailers such as Ralph Lauren and Coach.
“We are discounted every day, 25 to 65 percent,” Yalof said. “But we feature famous brands, international brands. What makes ‘Premium’ premium is our fashion component. We have such an elevated assortment of retailer brands. The better fashion brands differentiate us from most of our competition in the outlet field.”
Thornton Mayor Heidi Williams said the development is key to Thornton’s future.
“I think we are going to see people from the entire region — from Denver, Broomfield, Westminster, Longmont, Loveland,” Williams said. “We are going to pull people from the whole region, so this is really a great strategic location.”
Growth in the area is just beginning, she said.
“The houses come first and then the shops come,” she said. “This proves that we have the rooftops you need, and we also have an $350 million in new development coming to this year. So Simon is in the perfect place.”
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