CBL & Associates Properties, Inc. and Horizon Group Properties Announce
Grand Opening of The Outlet Shoppes at Atlanta
99 Stores Open at Center
CHATTANOOGA, Tenn. & ATLANTA -- July 18, 2013
CBL & Associates Properties, Inc. (NYSE: CBL) and Horizon Group Properties,
Inc. (OTC: HGPI.PK) today celebrated the Grand Opening of The Outlet Shoppes
at Atlanta with a ribbon cutting ceremony held at 10:00 a.m. EDT.
The center opened approximately 97% leased or committed featuring the
best-known brands and designer outlets, including Nike, Saks Fifth Avenue OFF
5TH, Bose, Brooks Brothers, Calphalon, Columbia Sportswear, True Religion,
Cole Haan, White House | Black Market, Guess, Fossil, Michael Kors, Kate
Spade, Under Armour, and Talbots.
“The Outlet Shoppes at Atlanta brings the best outlet retailers together in an
ideal location,” said Stephen Lebovitz, president and chief executive officer
of CBL. “We are experiencing a blockbuster opening and are confident that the
center will become a favored retail destination for Atlanta metro residents
and tourists as well as shoppers from surrounding states.”
“We are excited about the Atlanta market and the first-rate line up of stores
we have assembled. This center is conveniently accessible by the large Atlanta
tourist market as well as being nearer the bulk of the region’s population
than other outlets in the region,” saidGary J. Skoien, chief executive
officer of Horizon Group Properties.
The Grand Opening activities will run through July 21 and will feature live
entertainment by popular area musicians, store promotions, giveaways and more.
The weekend entertainment will conclude with a live concert Sunday afternoon
by Watermark. Special hours for the Grand Opening weekend are Thursday thru
Saturday 10 a.m. – 10 p.m. and Sunday 11 a.m. – 7 p.m.
The Outlet Shoppes at Atlanta is located north of Atlanta at the newly
constructed exit off I-575 at Ridgewalk Parkway in Woodstock. 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 features covered
walkways and landscaped courtyards to maximize the comfort and convenience of
shoppers. Its design blends traditional architecture with lively features
including a children’s play area. A center court, complete with fountains and
a fireplace, will create a festive atmosphere for shoppers and visitors to the
center. The site can accommodate an additional 30,000 square feet of outlet
shops and also features seven parcels for restaurants, service businesses and
other retail uses.
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. The
development and operation of the center is expected to generate a total of $34
million in taxes, which will benefit 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, marketing
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
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
159 properties, including 97 regional malls/open-air centers. The properties
are located in 31 states and total 93.0 million square feet including 10.5
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.
Katie Reinsmidt, 423-490-8301
Senior Vice President - Investor Relations and Corporate Investments
Horizon Group Properties, Inc.
Gina Slechta, 402-991-0875
SCMD Vice President of Marketing
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