Horizon Group Properties and CBL Properties Announce the Grand Opening of the Outlet Shoppes at Oklahoma City

OKLAHOMA CITY, July 29, 2011 /PRNewswire/ -- Horizon Group Properties, Inc. (HGPI) (OTC:HGPI.PK) and CBL & Associates Properties, Inc. (NYSE: CBL) announced today that it will open The Outlet Shoppes at Oklahoma City on August 5, 2011 fully leased with 83 stores.  Over 40 of the stores are new to Oklahoma City.

The center is scheduled to open to the public with a wide variety of well known designer outlets, including Nike, Saks Fifth Avenue OFF 5TH, , Polo Ralph Lauren, Brooks Brothers, Guess, Chico's, Coach, Banana Republic, DKNY, J. Crew, Michael Kors, Tommy Hilfiger, Under Armour, Levi's and Carters.

"We are excited about this strong group of retailers and believe they will help draw shoppers from a large area throughout Oklahoma, Kansas and Texas," said Gary J. Skoien, chief executive officer of Horizon Group Properties.

"We are thrilled to open The Outlet Shoppes at Oklahoma City fully leased," said Stephen Lebovitz, president & chief executive officer of CBL & Associates Properties, Inc.  "We expect that this center will become a favored retail destination for Oklahoma City residents as well as another great reason for tourists to visit the city."

Located at the intersection of Interstate 40 and Council Road, The Outlet Shoppes at Oklahoma City is the only outlet center in the state. Over 112,000 cars pass by the site daily. The center is expected to draw over six million visitors a year from a three-state area and travelers on Interstates 35, 40 and 44.    

Shoppers will be able to enjoy Tax Free Shopping and a variety of live entertainment during the Grand Opening Weekend.  Entertainment includes: former American Idol contestant, Lacey Brown, a Meet and Greet with Marvel Comic's Captain America and Spiderman, Voler Thieves of Flight Aerial and Acrobatic Performance, musician Jamie Bramble, gymnastics performers, face painters, popular sports mascots, a caricature artist, Salsa dancers and more.

Special hours for the Grand Opening weekend will be Friday and Saturday, August 5-6, 8 a.m. - 9 p.m. and Sunday, August 7th Noon - 6 p.m.

Construction on the 348,000 sq. ft. outlet center began in June of 2010. According to the International Council of Real Estate, this is believed to be the largest retail facility of any type to open this year in the nation.  

Built in a shopper-friendly racetrack layout, the center has covered tensile structure walkways to maximize comfort and convenience for patrons. It will have landscaped courtyards, vibrant architectural features and a fun lively setting.  The center will feature a large food court, children's play area, center court stage with fountains and other amenities to encourage shoppers to fully enjoy the different retail and entertainment choices. Land is available at the site to construct an additional 60,000 sq. ft of outlet shops and out parcels are being marketed for sale for uses complementary to the center.

Over 1,000 new retail jobs have been created and more will be filled before the start of the holiday season. The center will generate more than $120 million in estimated annual sales providing over $4 million of new local sales tax revenue for the City.

The Outlet Shoppes at Oklahoma City is a joint venture of CBL & Associates Properties, Inc. and Horizon Group Properties.  

About CBL & Associates Properties, Inc.

CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 157 properties, including 85 regional malls/open-air centers. The properties are located in 26 states and total 84.9 million square feet including 3.4 million square feet of non-owned shopping centers managed for third parties. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St. Louis, MO.  Additional information can be found at cblproperties.com.

About Horizon Properties

Based in Muskegon, Michigan, Horizon Group Properties, Inc. is a national owner and developer of factory outlet shopping centers and is the developer of a master planned community in suburban Chicago.          

The Outlet Shoppes at Oklahoma City Retail List Attached

THE OUTLET SHOPPES AT OKLAHOMA CITY

Aeropostale
Auntie Anne's
Banana Republic
Bass
BCBGMAXAZRIA
Bella Pizza
Bon Worth
Bose
Book Warehouse
Brooks Brothers
Carter's Childrenswear
Chao Praya
Chico's
Children's Place
Christopher & Banks
City Bites
Clarks Bostonian
Claire's
Coach
Cole Haan
Converse
Corningware
Dazzle Nails and Spa
Disney Store Outlet
DKNY
dressbarn
Easy Spirit
Famous Footwear
Gap Outlet
Gold Toe
Guess?
Gymboree
Haggar
Hanes Brands
Izod
J. Crew Factory
Johnston & Murphy
Jones New York
Jos. A. Bank
Journeys
Justice
Kasper
Kay Jewelers
Kitchen Collection
Lane Bryant
Le Creuset
Le Gourmet Chef
Levi's
Lids
Lucca Fashions
Maidenform
maurices
Michael Kors
Naturalizer
Nike
Nine West
Oakley Vault
Orange Leaf Yogurt
OshKosh B'gosh
Perfumania
Perry Ellis
Polo Ralph Lauren
Primo's
Rack Room Shoes
Reebok/Rockport
rue21
Saks Fifth Avenue OFF 5TH
Skechers
Smashburger
Soma Intimates
Spritz
Sunglass Hut
Talbots
Tommy Hilfiger
Ultra Diamonds
Under Armour
Uniform Outlet
US Polo Assn.
Van Heusen
Vans Outlet
Wilsons Leather
Yankee Candle
Zumiez

SOURCE Horizon Group Properties, Inc.