BARSTOW, CA—Craig Realty Group, an industry-leading private developer of upscale factory outlet centers, in partnership with CJK Investments, has acquired the outlet center in Barstow, to be renamed Outlets at Barstow. Outlets at Barstow will join the company's impressive Southern California portfolio alongside Citadel Outlets, Cabazon Outlets located just outside of Palm Springs and the lavish, ocean-facing Outlets at San Clemente, set to open in mid-November.
"Craig Realty Group is thrilled to welcome a property with such history and heritage to our family of centers," said Steven Craig, president and CEO of the firm. "This is an investment back into our Southern California community, one that will expand our market reach and allow us to elevate the retail experience for each and every shopper. I am confident the newly-minted Outlets at Barstow will be a strong addition to our management portfolio."
This purchase will bring the historic Barstow center under local ownership and management, for the first time ever, in a market that understands the demands of the regional, domestic and international retail consumer, while solidifying Craig Realty Group as the dominant outlet center developer in Southern California. Built in 1994, Outlets at Barstow was one of the first outlet centers ever developed and is in the top 25 in the country of the industry's most highperforming and lucrative centers. Expanded in 2007, the property is situated on 36 acres in a prime location halfway between Los Angeles and Las Vegas on the I-15 corridor at the Lenwood exit. Outlets at Barstow is currently at maximum occupancy and abuts approximately 8 acres of malleable real estate for future expansion.
Craig Realty Group will oversee the leasing, development and operations of the 171,300 square foot outlet center and plans to upgrade Outlets at Barstow to include the signature amenities and resort-like services that are synonymous with all Craig Realty Group properties. Additions may include luxury restrooms designed for shoppers' comfort, complimentary services such as strollers, wheelchairs and VIP savings cards, exceptional five-star customer service, beautifully landscaped and furnished walkways and retail brands that offer the premier savings and highest caliber merchandise for the value-oriented shopper.
Craig Realty Group is a shopping center development and management firm founded by Steven Craig and is based in Newport Beach, CA. A leader in the development and management of high income-producing, upscale factory outlet centers, Craig Realty Group owns, operates and manages nearly
5.2 million square feet of existing retail development in seven state, including: Outlets at Anthem in Phoenix; Outlets at Barstow; Cabazon Outlets located near Palm Springs; Citadel Outlets in Los Angeles; Outlets at Conroe located near Houston; Outlets at Castle Rock south of Denver, Outlets at the Dells, Baraboo, WI; Outlets at Hillsboro, Hillsboro, TX, among others.The long-awaited opening of Outlets at San Clemente, overlooking the Pacific Ocean just off the I-5 in San Clemente, California, will take place in mid -November 2015.
Projects in development include Chicagoland Outlets at Country Club Hills, IL; Outlets at Kapolei Commons, Oahu, Hawaii; Outlets at Richmond, VA; Outlets at Cleveland, Ohio and Outlets at Lacey, WA.
CJK Investments is an affiliate of Craig Realty Group that pursues special situation investments in joint venture with private equity and institutional investors in the U.S., Europe and Japan.