Battered Hillsboro Outlet Mall Hoping for Revival

The once bustling 356,296 square foot Outlets at Hillsboro, which once housed 100 stores but now only has two, is under new ownership with redevelopment on the horizon. Initially developed in 1989 as one of the first outlet malls in the State of Texas, it now sits largely unoccupied.

Glaser Retail Partners recently bought the mall from its original owner, Craig Realty Group of Newport Beach. And now the city has agreed to pay Glaser $4.6 million for two-thirds interest in the site. Glaser’s current plan requires the demolition of some sections of the Outlets and adding new retail space along a 300-ft stretch along I-35. Hillsboro is a town of 8,000 between Waco and Dallas off I-35. Construction is expected to start by the end of the year.

Outlet malls have had a rebound of late. At the end of September, Simon’s outlets had an occupancy rate of 95.2%, compared to 94.5% from a year earlier. Tanger’s outlets had a 98% occupancy rate, up from 94.9% in June 2022.