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Prime Retail Closes on Land to Begin Development of Region's Largest Outlet Center

GRAND PRAIRIE, Texas, Aug. 20 /PRNewswire/ -- Prime Retail, one of the nation's leading developers of outlet centers, announced today the company closed on more than 64 acres of land to begin development of Prime Outlets -- Grand Prairie, the region's largest outlet shopping destination serving the Dallas/Fort Worth market with a gross leasable area of 485,000 square feet.

Slated to open to shoppers in time for the 2009 holiday shopping season, Prime Outlets -Grand Prairie will be located on Interstate 20 at the intersection of State Highway 360 (Great Southwest Parkway exit). The company will begin construction this fall.

According toCity of Grand Prairie Mayor Charles England, "Not only will Prime Outlets -Grand Prairie bring approximately 2,000 temporary and permanent jobs to our region, but the new upscale outlet center will fast become a popular destination adding to our city's growing tourist market which currently draws six million visitors annually."

Designed as a series of connected arcades and courtyards in a continuous open-air loop configuration, Prime Outlets-Grand Prairie will feature approximately 120 outlet stores including anchors Neiman Marcus Last Call and Saks Fifth Avenue OFF 5TH; 2,700 parking spaces; an on-site food court; and restaurant sites surrounding the outlet center.

"Our mission is to offer theDallas/Fort Worth market a large, well-tenanted outlet shopping center that offers local shoppers and tourists a compelling collection of the world's top designer and brand-name stores," said Prime Retail Chief Operating Officer Nicholas King. "We look forward to breaking ground to begin construction this fall."

About Prime Retail

Headquartered inBaltimore, Md., Prime Retail is the parent company of Prime Outlets and one of the largest and most successful owners of retail centers in the U.S. Spanning approximately 15 million square feet throughout majorUnited States markets andPuerto Rico, Prime Retail recently added top designer and brand name stores including Giorgio Armani General Store, Gucci, Michael Kors, Polo Ralph Lauren Factory Store, Salvatore Ferragamo Company Store, Zegna Outlet and many more to its portfolio. Adding nearly two million square feet over the next several years, Prime Retail is positioned to become the leading retail outlet company in the industry. For more information, please visit www.primeretail.com.

SOURCE Prime Retail

Tags: ,REA,CST,PDT,TX-PrimeRetail-outlet

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