Horizon Sells Oklahoma City Mall for $130M
The Outlet Resource Group and Singerman Real Estate snapped up the 400,000-square-foot retail property at 7624 West Reno Ave., which functions as the state’s only outlet center.
By Roxana Baiceanu
The Outlet Shoppes
After six years of ownership, Horizon Group Properties and co-developer CBL & Associates Properties Inc. announced that their first joint venture and one of the largest shopping centers in their portfolio sold for $130 million. Executive Vice President of CBRE Richard Frolik represented the seller.
Starting May 1st, 2017, The Outlet Shoppes at Oklahoma City will operate under The Outlet Resource Group (TORG) and Singerman Real Estate, with Avison Young as property manager.
Located at 7624 West Reno Ave., the 400,000-square-foot mall first opened in 2011, but it continued to expand through 2014. The property now hosts more than 100 retailers including Nike, Polo Ralph Lauren, Michael Kors and Under Armour.
Since its debut, the center has gradually become one of the most popular destinations for shoppers in Oklahoma, Kansas, Arkansas and Texas alike, and the new owners said that they plan to grow the malls’ reputation.
“This is a fantastic location for the only outlet center in the state, and it is easily accessible by shoppers coming from the central core of the city as well as the suburbs,” said TORG Principal Lisa Wagner in a prepared statement.
Image courtesy of The Outlet Shoppes at Oklahoma City via Facebook
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