News
OUT OF TOWN BUSINESS
November 10, 2010
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| McKinney-based MYCON General Contractors started construction on The Outlet Shoppes at Oklahoma City (rendering above), a 350k SF outlet mall at the intersection of I-40 and Council Road. At $50M, the retail construction project is the biggest so far this year in the US, McGraw Hill VP Robert Murray tells us. Horizon Group Properties and CBL & Associates Properties are co-developing the project, which will be the only outlet center in the state and within a 145-mile radius. Slated for August completion, the center is expected to draw more than 6M visitors a year from a three-state area and travelers on the Interstates 35, 40 and 44, according to the Greater Oklahoma City Chamber of Commerce. It's CBL's first foray into the outlet center busines, says CBL CEO Stephen Lebovitz: "Outlet centers are a natural extension of our retail expertise and provide us with attractive growth potential." The site also has land available for an additional 60k SF of outlet shops, restaurant, and out-lot users. |
