Shopping Center Opens 100% Leased
CHATTANOOGA, Tenn. & NORTON SHORES, Mich.--(BUSINESS WIRE)--
CBL & Associates Properties, Inc. (NYSE:CBL) and Horizon Group
Properties, Inc. (OTC:HGPI), announced today the grand opening of The
Outlet Shoppes of the Bluegrass, which opened fully leased with 90
stores and eateries.
The center opened to the public with a wide variety of well-known
designer outlets, including Saks Fifth Avenue OFF 5TH, Nike, Brooks
Brothers, Guess, Chico’s, Coach, Banana Republic, J. Crew, Michael Kors,
Tommy Hilfiger, Under Armour, Vera Bradley and more. Additional
stores will be opened in the fall, including Gucci, Kate Spade and Tumi.
“We are excited about this strong group of retailers and believe they
will help draw shoppers from a large area throughout Kentucky, Indiana
and Ohio,” said Gary J. Skoien, chief executive officer of Horizon Group
Properties.
The Outlet Shoppes of the Bluegrass is the only outlet center in the
state and is located between Louisville and Lexington on Interstate 64.
Over 68,000 cars pass by the site daily. The center is expected to draw
over six million visitors a year from the three-state area plus
travelers on Interstate 64.
Construction on the 375,000-square-foot outlet center began in May of
2013.
Built in a shopper-friendly racetrack layout, the center has covered
structure walkways to maximize comfort and convenience for patrons. Two
entrance corridors on the north side of the property feature fifteen
Louisville Slugger bronze sculpture replica bats used by Hank Aaron, Cal
Ripken Jr., Babe Ruth, George Brett and more. The area is located near
the Under Armour, Converse, Nike and Loft stores.
The Outlet Shoppes of the Bluegrass boasts landscaped courtyards,
vibrant architectural features and a fun lively setting. The center
features a large food court, children’s play area, center court stage
with fireplace, fountains and other amenities to encourage shoppers to
fully enjoy the lively retail and entertainment choices.
“Shopping is the #2 activity that tourists enjoy,” commented Mr. Skoien.
“The center is working with many of the area hotel and tourism partners
to provide day trips and other shopping packages. The center offers
shuttle services to assist travelers that come to the area with
transportation needs.” The shuttle will also provide services for
conventions, family reunions and special group outings.
“The Outlet Shoppes of the Bluegrass brings the best outlet brands to
Kentucky,” said Stephen Lebovitz, president and chief executive officer
of CBL. “We are confident that this center will become a major retail
destination for area residents as well as tourists and shoppers from
surrounding states.”
The Outlet Shoppes at Louisville will contribute significantly to the
area's local economy by creating new jobs and generating sales tax
revenues. Once complete, the center is estimated to create more than
1,000 jobs for the community and generate more than $130 million in
annual sales. This level of sales will generate approximate $8 million
of annual sales taxes to the state of Kentucky, in addition to,
significant revenue for the local government and school district through
property and other taxes.
About Horizon Group Properties, Inc.
Based in Norton Shores, Michigan, with executive offices in Chicago
(Rosemont), IL, Horizon Group Properties, Inc. is a leading owner and
developer of factory outlet shopping centers in the United States and
Asia and is the developer of a master planned community in suburban
Chicago. For more information, please visit www.horizongroup.com.
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 152 properties, including 92 regional malls/open-air centers.
The properties are located in 30 states and total 86.7 million square
feet including 7.3 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.
CBL & Associates Properties, Inc.
Dan Summerlin, 423-490-8315
Director
of Corporate Relations
dan_summerlin@cblproperties.com
or
Horizon
Group Properties, Inc.
Gina Slechta, SCMD, 402-991-0875
Vice
President of Marketing
marketing@horizongroup.com
Source: CBL & Associates Properties, Inc. and Horizon Group Properties, Inc.