by Burke Speaker | October 9, 2013 3:20 pm
Much like Facebook’s plans, Urban Outfitters (URBN) has announced plans to build a miniature town — what company execs are calling a “lifestyle experience.”
The 6.5 acre area will have a Terrain high end garden store, an Anthropologie, a boutique hotel with 93 rooms, a luxury spa and more retail space, all built under the purview of Anthropologie’s parent company, Urban Outfitters. As you might’ve surmised, this is happening in a suburb, a suburb of Philadelphia to be precise, and there’s plenty of flowery commercial real estate chatter to go with it. For what it’s worth, this is not Urban’s first foray into development either.
“We’re expanding our bricks-and-mortar retail experience to a lifestyle experience that will meet the taste level of the Devon community,” Urban’s head of development Dave Ziel told the local paper.
And because you’ll need a place to sleep after all that shopping, he added that the authentic and unique boutique hotel is “the driver of this village concept.”
Source URL: http://investorplace.com/2013/10/urban-outfitters-to-build-mini-town/
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