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Prime Retail Announces New Outlet Center, Updates on Two Others

Prime Bringing New Center to GA; Gets New Anchors for TX & CA Centers
May 20, 2008
Outlet retail center owner/developer, Prime Retail, is developing a new outlet center in Holly Springs, GA. Prime Outlets - Holly Springs will be 450,000 square feet and is projected to open in 2010.

Located about 30 miles north of Atlanta just off I-575 in Cherokee County, the outlet center will house 120 stores. Prime said the $120 million project is justified by Atlanta's strong population growth and "need" for a new outlet shopping destination.

The Holly Springs development joins Prime's other two ground-up projects under development:

The company announced that Saks Off 5th will anchor Prime Outlets - Grand Prairie, a $100 million, 485,000-square-foot outlet center underway at I-20 and Hwy 360 in Grand Prairie, TX.

And in Livermore, CA, Prime just secured Neiman Marcus Last Call to anchor Prime Outlets - Livermore, a $156 million, 470,000-square-foot project to be completed in 2010 east of San Francisco and north of San Jose on I-580 in Livermore.

This article appeared in CoStar's Retail News Roundup: May 18 to 24, 2008. The Roundup is a weekly column by CoStar senior news editor, Sasha Pardy, covering retail store expansions, closings, bankruptcies, acquisitions/mergers/sales, new retail developments, personnel changes, sustainability, and more. This week in the Retail Roundup, CoStar reports on expansions or new concepts at Baskin-Robbins, Levi Strauss, Macy's, Sprouts Farmers Market, Safeway and Roman's Bakery & Grill; new retail developments in VA, FL, TX, MO, PA, MD, CA and GA; acquisition, merger, loan or sale activity at Citibank; closings, cutbacks or bankruptcies at Fred's and Jamba Juice; personnel announcements at Macy's, Opus East, Simon Property Group, ARC Properties; and more.

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