OKLAHOMA CITY-CBL & Associates Properties Inc. has formed a joint venture with Horizon Group Properties Inc. to develop The Outlet Shoppes at Oklahoma City. The 350,000-square-foot project is now under construction, and when completed in summer 2011, it will be the only outlet center in the state and within a 145-mile radius.
The Outlet Shoppes at Oklahoma City marks Chattanooga, TN-based CBL’s entry into the world of outlet centers, according to Michael Lebovitz, executive vice president of development and administration. “We’ve always watched [the outlet center sector] and thought it could be a potential growth area for us,” he tells GlobeSt.com. “As lines have blurred between traditional and outlet retail, we felt this project was a great opportunity for us.”
CBL and North Shores, MI-based Horizon have both contributed equity to the project and are co-developing it. Horizon is responsible for leasing and management.
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