CHATTANOOGA, Tenn. & OKLAHOMA CITY--(BUSINESS WIRE)--
CBL & Associates Properties, Inc. (NYSE: CBL) and Horizon Group
Properties, Inc. (HGPI) (OTC:HGPI.PK) announced today that they will
open The Outlet Shoppes at Oklahoma City on August 5, 2011, fully leased
with 83 stores. Over 40 of the stores are new to Oklahoma City.
The center is scheduled to open to the public with a wide variety of
well-known designer outlets, including Nike, Saks Fifth Avenue OFF 5TH,
Polo Ralph Lauren, Brooks Brothers, Guess, Chico’s, Coach, Banana
Republic, DKNY, J. Crew, Michael Kors, Tommy Hilfiger, Under Armour,
Levi’s and Carters.
“We are thrilled to open The Outlet Shoppes at Oklahoma City fully
leased,” said Stephen Lebovitz, president and chief executive officer of
CBL & Associates Properties, Inc. “We expect that this center will
become a favored retail destination for Oklahoma City residents as well
as another great reason for tourists to visit the city.”
“We are excited about this strong group of retailers and believe they
will help draw shoppers from a large area throughout Oklahoma, Kansas
and Texas,” said Gary J. Skoien, chief executive officer of Horizon
Group Properties.
Located at the intersection of Interstate 40 and Council Road, The
Outlet Shoppes at Oklahoma City is the only outlet center in the state.
Over 112,000 cars pass by the site daily. The center is expected to draw
over six million visitors a year from a three-state area and travelers
on Interstates 35, 40 and 44.
Built in a shopper-friendly racetrack layout, the center has covered
tensile structure walkways to maximize comfort and convenience for
patrons. It will have landscaped courtyards, vibrant architectural
features and a fun lively setting. The center will feature a large food
court, children’s play area, center court stage with fountains and other
amenities to encourage shoppers to fully enjoy the different retail and
entertainment choices. Land is available at the site to construct an
additional 60,000 sq. ft of outlet shops and out parcels are being
marketed for sale for uses complementary to the center.
Over 1,000 new retail jobs have been created and more will be filled
before the start of the holiday season. The center will generate more
than $120 million in estimated annual sales providing over $4 million of
new local sales tax revenue for the city.
The Outlet Shoppes at Oklahoma City is a joint venture of CBL &
Associates Properties, Inc. and Horizon Group Properties.
Persons interested in learning more about available outparcels should
contact Phil McNeely, Director of Peripheral Property by telephone at
423-490-8304 or by email at phil_mcneely@cblproperties.com.
About Horizon Properties
Based in Muskegon, Michigan, Horizon Group Properties, Inc. is a
national owner and developer of factory outlet shopping centers and is
the developer of a master planned community in suburban Chicago.
About CBL & Associates Properties, Inc.
CBL is one of the largest and most active owners and developers of malls
and shopping centers in the United States. CBL owns, holds interests in
or manages 157 properties, including 85 regional malls/open-air centers.
The properties are located in 26 states and total 84.9 million square
feet including 3.4 million square feet of non-owned shopping centers
managed for third parties. Headquartered in Chattanooga, TN, CBL has
regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St.
Louis, MO. Additional information can be found at cblproperties.com.
Source: CBL & Associates Properties, Inc.
Contact:
Horizon Contact:
Gina Slechta, 402-991-0875
SCMD, Vice
President of Marketing
marketing@horizongroup.com
or
CBL
Contact:
Katie Reinsmidt, 423-490-8301
Vice President -
Corporate Communications and Investor Relations
katie_reinsmidt@cblproperties.com