Monday, August 20, 2007

Prime Outlets Sold

I'd put money on it being called the Horizon Outlet Mall in the near future, if anyone wants to take that bet:

Horizon Group said Monday that it purchased the Oshkosh shopping center along with outlet centers in Fremont, Ind., and Burlington, Wash., for a total of $59.1 million, including the assumption of $53 million of existing debt. The centers were purchased from an affiliate of Prime Retail Inc., of Baltimore. Individual purchase prices were not disclosed.

If memory serves me correctly, the Horizon-owned chain of outlet malls tends to fancy itself as a bit more upscale then your run-of-the-mill discount retail shopping centers, so there may be an outside chance that the group bought the property in order to rehab it. God knows the mall could use a few capital improvements -- I don't think anything's been done to the facade since it was originally built.

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