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Panama’s first mall to be turned into luxe outlet center

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The Outlet Resource Group, which helps develop and lease outlet centers in the U.S. and Europe, has taken on a new project in Panama City that could have repercussions throughout Central and South America.

Megapolis Outlets Panama is a total makeover of the country’s first mall, located in center city next to the Majestic Casino and a 1,500-room Hard Rock Hotel. The complete redesign of the center plays on those adjacencies with a Las Vegas theme featuring lattice-work towers and fashion murals on the exterior and luxe interiors interlaced with open walkways and dramatic architectural elements (see slide show).

Outlet regulars such as Calvin Klein, Tommy Hilfiger, Nike, and Kenneth Cole are already operating at the center, though not officially as outlets. TORG principal Lisa Wagner said that, after at least one of the department stores is closed and the new theme is phased in, up to 300,000 sq. ft. of Megapolis will be outlet retail.

“This is a very exciting project because it is an opportunity to introduce a very high quality, curated outlet collection with entertainment, dining, a convention center, hotels, and amenities all in one central urban area,” Wagner said. “We expect this to be a model that will be successfully repeated throughout Latin America, which is ripe for outlet development.”

TORG is handling the leasing, marketing, and outlet consulting on the project.

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