The Outlets at Hillsboro, a once thriving 356,296 square foot retail space with 100 stores, is now under new ownership and set for redevelopment. Originally established in 1989 as one of Texas’ first outlet malls, it currently has only two occupied stores.
Recently acquired by Glaser Retail Partners from its previous owner Craig Realty Group of Newport Beach, the city has agreed to pay $4.6 million for a majority stake in the property. Glaser’s plans include demolishing certain sections of the mall and adding new retail spaces along a 300-ft stretch adjacent to I-35. Located between Waco and Dallas off I-35 in Hillsboro – a town with approximately 8,000 residents – construction is slated to begin before the end of this year.
Outlet malls have experienced an upswing lately; Simon’s outlets reported an occupancy rate increase from last year at 95.2%, while Tanger’s outlets saw their occupancy rate rise from June2022 to reach an impressive level of98%.
