Case Studies

Adana Optimum Outlet

Adana, Turkey

Adana, the fourth largest city in Turkey (population of 1.6 million), was highly undersupplied from a retail perspective. After learning that local residents drove seven kilometers outside of the city to shop in Adana’s only Class-A shopping center, Amstar and its joint venture partner, Renaissance Development, recognized the opportunity. Through meticulous planning and research, the Joint Venture assembled a city-center parcel at the junction of two of the city’s major highways and within walking distance of a regional bus station and five-star Hilton hotel.

Due to the project’s strong location and the undersupplied nature of the city, demand from tenants was overwhelming. In response, the Joint Venture added an additional floor to the original construction plans, increasing GLA by 10,000 sqm. In total, the project includes 68,000 sqmof leasable area with a diverse mix of 170 international and domestic retailers, a ten-screen cinema, a bowling alley and 35 restaurants and cafes. Adana Optimum Outlet Center opened 99% leased in April 2011, attracting 280,000 visitors in its first weekend of operations.