WOODSTOCK, Ga., May 2, 2012 /PRNewswire/ -- Horizon Group
Properties, Inc. (OTC: HGPI) and CBL & Associates
Properties, Inc. (NYSE: CBL) today announced that construction will
begin immediately on a new outlet center in Woodstock, GA. The 370,000 square foot
initial phase of the center, to be named The Outlet Shoppes at
Atlanta, is scheduled to open
in August 2013 and will feature the
best-known brands and designer outlets, including Nike, Saks
Fifth Avenue OFF 5TH, Brooks Brothers, White House | Black Market,
Guess, Michael Kors, Under Armour, Puma, Converse, Cole Haan, Vans, Le Creuset, Levis, Naartjie
Kids, Talbots and Carters. It is expected that many
additional retailers will be announced in the near future.
The center is located at the newly-constructed exit off I-575 at
Ridgewalk Parkway; more than 112,000 cars pass the site
daily. The center is convenient to travelers on Interstates
75, 85 and 20 and is expected to draw over four million visitors
annually from a three-state area.
Designed in a shopper-friendly configuration, the center will
feature covered walkways and landscaped courtyards to maximize the
comfort and convenience of shoppers. Its design blends traditional,
architectural with lively features children's play area, and a
center court complete with fountains and fireplace to create a
festive atmosphere for shoppers and other visitors to the
center. The site will accommodate an additional 30,000 square
feet of outlet shops and also features eight out-lots for
restaurant and other uses.
"The Outlet Shoppes at Atlanta
represents the new incarnation of the outlet shopping
experience. It is located much closer to the residents of
metro-Atlanta than existing outlet
centers and its design makes shopping at the center much easier and
more pleasant," said Gary J. Skoien,
chief executive officer of Horizon Group Properties. "We also
expect to draw shoppers from Tennessee, Alabama and other parts of Georgia. The
development and operation of the center will generate substantial
economic activity in Woodstock and
we are appreciative of the efforts of the Woodstock City officials in making this
development a reality," said Skoien.
"The groundbreaking of The Outlet Shoppes at Atlanta marks the beginning of what is sure to
become a favored retail destination for Atlanta and the surrounding areas as well as
tourists," commented Michael
Lebovitz, executive vice president - development &
administration for CBL & Associates Properties, Inc.
"With the impressive line-up of stores already announced, the
excitement continues to build. We are looking forward to
celebrating with our partner, Horizon Group, as well as area
officials, at the Grand Opening next summer."
Site preparation will take place over the next few months with
structural work beginning later this summer. When completed,
the center is projected to generate more than $130 million in annual sales and $3 million of sales and property taxes for the
City of Woodstock. Over the next 10 years, the development
and operation of the center are expected to generate a total of
$34 million in taxes for the benefit
of the City of Woodstock,
Cherokee County and its school
district over the next ten years.
The Outlet Shoppes at Atlanta
is a joint venture of CBL & Associates Properties, Inc. and
Horizon Group Properties, Inc. Horizon and CBL are
co-developers of the project; Horizon is responsible for leasing
and managing the center.
About Horizon Group Properties, Inc.
Based in Norton Shores,
Michigan with executive offices in Rosemont, Illinois, Horizon Group Properties,
Inc. is an owner and developer of factory outlet shopping centers
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 160 properties, including 89 regional malls/open-air
centers. The properties are located in 26 states and total 86.8
million square feet including 3.6 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), Texas, and
St. Louis, MO. Additional
information can be found at cblproperties.com.
THE OUTLET
SHOPPES AT ATLANTA
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Woodstock,
GA
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FACT
SHEET
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Description:
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Phase I of
the outlet center will include 370,000 square feet of gross
leasable area with expansion potential for an additional 30,000
square feet. The site contains eight outparcels.
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Co-Developers:
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Horizon
Group Properties, Inc. and CBL & Associates Properties,
Inc.
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Architect:
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Adams +
Associates Architecture
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Contractor:
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VCC,
LLC
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Dates to
note:
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Construction start: May, 2012
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Grand
Opening: August 2013
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Amenities:
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Open-air
racetrack design with covered walkways
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Food
Court
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Courtyard
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Fountains
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Park-like
atmosphere
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Customer
Service Center
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Bus
parking and tour group services
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Location:
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I-575 and
Ridgewalk Parkway - Woodstock, GA
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Retailers:
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Brooks
Brothers
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Carters
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Cole
Haan
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Converse
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Guess
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J.
Crew
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Le
Creuset
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Levis
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Michael
Kors
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Naartjie
Kids
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Nike
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Puma
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Saks Fifth
Avenue OFF 5TH
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Talbots
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Under
Armour
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White House | Black Market
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Vans
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Additional store announcements will be made in the near
future.
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SOURCE Horizon Group Properties, Inc.