The Only Fully Leased Outlet Center to Open To-Date in 2011
CHATTANOOGA, Tenn. & OKLAHOMA CITY--(BUSINESS WIRE)--
CBL & Associates Properties, Inc. (NYSE: CBL) and Horizon Group
Properties, Inc. (HGPI) (OTC:HGPI.PK) announced today that the
outstanding success of the grand opening of The Outlet Shoppes at
Oklahoma City held on August 5, 2011, represented the tremendous
strength of the project and its future. Shoppers flocked in record
number to enjoy the fully leased center throughout grand opening weekend.
“In our more than 33 years of operation, CBL has never experienced a
grand opening quite like this,” said Stephen Lebovitz, president and
chief executive officer of CBL & Associates Properties, Inc. “Shoppers
from as far as 200 miles have come to enjoy a selection of stores that
was not available in Oklahoma before now. We are pleased The Outlet
Shoppes at Oklahoma City opened to such a tremendous reception and
anticipate this positive momentum will continue.”
“The crowds over grand opening weekend were unbelievable,” said Gary J.
Skoien, chief executive officer of Horizon Group Properties. “Reports
from our retail partners indicate that sales levels have handily beat
plans and expectations. The Outlet Shoppes at Oklahoma City has already
proved to be a great addition to the market and we are confident in its
continued success.”
The center features 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.
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. In addition, following the grand opening
weekend, The Outlet Shoppes at Oklahoma City has garnered more than
40,000 facebook friends and continues to gain in popularity.
The Outlet Shoppes at Oklahoma City is a joint venture of CBL &
Associates Properties, Inc. and Horizon Group Properties.
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 158 properties, including 85 regional malls/open-air centers.
The properties are located in 26 states and total 85.2 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 Group Properties, Inc.
Gina Slechta, SCMD, Vice President
of Marketing
402-991-0875
marketing@horizongroup.com
or
CBL
& Associates Properties, Inc.
Katie Reinsmidt, Vice President
-Corporate Communications
and Investor Relations
423-490-8301
katie_reinsmidt@cblproperties.com