Just months after the fruits of a previous joint venture debuted, CBL & Associates Properties Inc. has formed a 75/25 joint venture with Horizon Group Properties Inc. to develop the 370,000-sq.-ft. Outlet Shoppes at Atlanta. Construction is expected to begin this spring, with the grand opening scheduled for late summer 2013. CBL and Horizon are co-developing the project with Horizon responsible for leasing and management.
The two firms opened the Outlet Shoppes at Oklahoma City this past July after partnering in 2010. It illustrates the continued popularity of the outlet center segment for both retailers and developers.
The Outlet Shoppes at Atlanta is currently more than 70 percent leased or committed with outlet retailers such as Saks Fifth Avenue OFF 5TH, Nike, J. Crew, Nine West, Brooks Brothers, Johnston and Murphy, Levis, Skechers, Chico’s, Guess, Michael Kors, Puma, Under Armour and more. The project is located in a northern suburb of Atlanta off Interstate 575 and Ridgewalk Parkway.
“Atlanta is one of the best outlet markets in the country and we have the best location for the development of what will be Atlanta’s premiere outlet center,” Horizon President & CEO Gary J. Skoien said in a statement. “CBL is a fantastic partner and we look forward to building on the success of The Outlet Shoppes of Oklahoma City which we recently completed in a similar joint venture with CBL.”
The Outlet Shoppes at Atlanta will be located in Woodstock, Ga., a northern suburb of Atlanta in Cherokee County.