|By PR Newswire||
|July 31, 2014 10:00 AM EDT||
ROSEMONT, Ill. and CHATTANOOGA, Tenn., July 31, 2014 /PRNewswire/ -- Horizon Group Properties, Inc. (OTC: HGPI) and CBL & Associates Properties, Inc. (NYSE: CBL), 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 opening 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 sq. ft. 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 of the Bluegrass 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 1,200 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 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.
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.
SOURCE Horizon Group Properties, Inc.
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