Norton Shores-based Horizon Group Properties Inc. announced yesterday the formation of a partnership to build The Outlet Shoppes at Laredo in Laredo, Texas.
Horizon Group Properties will be a 35 percent partner in the project, with the remainder coming from Chattanooga, Tenn.-based CBL & Associates Properties Inc., according to a statement.
The 358,000-square-foot development is currently under construction with a grand opening planned for spring of 2017.
Horizon Group Properties will be responsible for leasing and managing the property, per the agreement.
The partners in this development project referenced a lack of outlet mall shopping in the area as well as demand for shopping options in the region that borders Mexico.
“We know there is pent up demand for outlet shopping, not only in the city of Laredo, but also Nuevo Laredo and Monterrey,” Gary J. Skoien, CEO of Horizon Group Properties, said in a statement. “The Outlet Shoppes at Laredo will be the closest outlet center to those markets. We look forward to presenting a dynamic store mix in a beautiful two-story environment in the heart of downtown Laredo.”