OKLAHOMA CITY, Nov. 9, 2012 — /PRNewswire/ -- Horizon Group Properties, Inc. (OTC: HGPI) and CBL & Associates Properties, Inc. (NYSE: CBL) today announced the Grand Opening of a 27,800 square foot expansion of The Outlet Shoppes at Oklahoma City, a 348,600 square foot outlet shopping center. Tenants in the expansion include Coach Men's Factory, Columbia Sportswear, Kenneth Cole, Ann Taylor Loft Outlet, Lucky Brand Outlet, and Waterford, Wedgewood, Royal Doulton. The 100% leased outlet shopping center is located at the intersection of Interstate-40 and Council Road and opened in August 2011. The expansion is located in the southwest area of the center.
"We are very excited about opening the initial expansion of The Outlet Shoppes at Oklahoma City," said Gary J. Skoien, chief executive officer of Horizon Group Properties. "Retailer and shopper demand enabled this expansion to be completed only 15 months after the initial opening of the center. It is a testament to the many valued customers in Oklahoma City and the surrounding areas that have made this center such a huge success. We have the capacity to further expand the center by an additional 31,700 square feet and we expect to continue to add to the roster of top-shelf stores at the center."
Mathis Brothers plan to open a 11,000 sq. ft. Sleep Studio store on November 10th on a perimeter outlot just west of the center. When completed, it will showcase more than sixty top name brands. BJ's Restaurant and Brewhouse plan to open an 8,300-square-foot restaurant on a pad site just to the southeast of the main mall. They expect to break ground this fall and open early summer 2013.
"The second phase of The Outlet Shoppes at Oklahoma City builds on and enhances the premier selection of brand name retailers shoppers will enjoy," commented Michael Lebovitz, executive vice president – development & administration for CBL. "The expansion of this center is a result of the demand by local market for quality retail and also demonstrates the centers attraction as a major draw for tourists and area visitors. We are pleased to open this expansion, which will add to its future success."
The Outlet Shoppes at Oklahoma City 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 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 164 properties, including 95 regional malls/open-air centers. The properties are located in 28 states and total 93.4 million square feet including 9.4 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.
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