Horizon Group and CBL Celebrate the Grand Opening of the Outlet Shoppes of the Bluegrass
July 31 2014 - 10:30AM
Business Wire
Shopping Center Opens 100% Leased
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,
423-490-8315Director of Corporate
Relationsdan_summerlin@cblproperties.comorHorizon Group Properties,
Inc.Gina Slechta, SCMD, 402-991-0875Vice President of
Marketingmarketing@horizongroup.com
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