CBL to develop outlet center in Atlanta

CBL to develop outlet center in Atlanta

January 11th, 2012 by Staff Report in Business Around the Region

The headquarters of CBL and Associates is located next to Hamilton Place Mall in East Brainerd.

Photo by Tim Barber/Times Free Press.

CBL & Associates Properties Inc. on Tuesday unveiled plans to develop a 370,000-square-foot outlet center outside Atlanta in Woodstock, Ga.

The Chattanooga-based company has formed a joint venture with Horizon Group Properties Inc. to develop The Outlet Shoppes at Atlanta.

Construction is expected to begin in the spring with grand opening scheduled for late summer 2013. CBL and Michigan-based Horizon are co-developing the project with Horizon responsible for leasing and management.

Stephen Lebovitz, CBL's president and chief executive officer, said retail interest is strong and leases have already been executed with some of the best names in the outlet business.

"We are confident that The Outlet Shoppes at Atlanta will be a terrific investment for CBL," he said.

The development is more than 70 percent leased or committed, according to CBL.

Retailers include 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 others.

The project is at 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," said Gary J. Skoien, Horizon's president and chief executive officer.

CBL and Horizon recently finished a similar joint venture -- The Outlet Shoppes of Oklahoma City.

The Outlet Shoppes at Atlanta is expected to create more than 1,000 jobs and generate more than $130 million in annual sales.