Apr 11, 2013, 11:00 ET
BOSSIER CITY, La., April 11, 2013 /PRNewswire-USNewswire/ -- Garrison Investment Group of New York has acquired Louisiana Boardwalk, a 562,520 square foot retail / mixed-use development on the waterfront of Bossier City, Louisiana. Garrison has retained EWB Development LLC, the predominant consultant firm in the outlet industry, to lease and market the center as a true outlet destination. The converted retail center will be relaunched as The Outlets at Louisiana Boardwalk.
The Louisiana Boardwalk was developed along the Red River, directly across from Shreveport. The twin cities of Shreveport and Bossier City, the state's second largest market, host a bustling convention center, and numerous casinos and hotels, which draw over 11 million visitors each year.
Opened in 2005, the project is anchored by the only Bass Pro Shops within a 3 1/2 hour drive and by Northwest Louisiana's only IMAX theatre. A strong mix of outlet retail brands and soft goods retail stores, additional entertainment venues and several restaurants complement the anchors.
The development features approximately 69,000 square feet of well leased 2nd story office space, and a high performing Marriott Courtyard Hotel. The Margaritaville Hotel and Casino will open this summer, adding 400 hotel rooms and a significant additional draw to the center.
"Our focus and experience in retail re-development, and study of market trends has led us to the conclusion that outlet retail is the highest and best use for this exciting regional destination," states Mitchell Salmon, Senior Vice President/Director of Garrison Investment Group. "We are making a significant commitment of time and resources to that end."
"EWB is very excited to begin this project and really take it to the next level of prosperity," adds Lisa Wagner, Partner at EWB. "There is great synergy among outlets, casinos and tourism, and we feel confident in repositioning this beautiful center into a real outlet destination."
About Garrison Investment Group
Garrison Investment Group is an asset based investor with more than 60 years of experience in shopping center acquisitions, development, leasing and asset management. Headquartered in New York City, Garrison owns a total of 38 shopping centers comprising 8.2 million square feet of leasable space in regional malls, lifestyle centers and neighborhood community shopping centers across 12 states. For more information, please visit www.garrisonretail.com.
About EWB Development LLC
As the largest third-party provider of leasing, marketing and outlet development consultation services in the industry, EWB Development, LLC provides strategic direction, marketing consultation, management and leasing to existing and prospective outlet properties in the United States and throughout the world. EWB has participated and/or directed the development programs of more than 50 outlet centers in the U.S., Europe and Canada, and has overseen the ongoing marketing, leasing, and management of dozens more. For more information, visit the company's website at www.ewbdevelopment.com.
SOURCE EWB Development, LLC
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