HORIZON OUTLET CENTERS ANNOUNCES THE ACQUISITION OF GEORGIAN PLACE OUTLET CENTER IN SOMERSET, PA.
MUSKEGON, Mich., Jan. 5 /PRNewswire/ -- Horizon Outlet Centers, Inc. (NYSE: HGI) announced the acquisition of Georgian Place Outlet Center located in Somerset, Pa. This 201,000-square-foot factory outlet center is just 50 minutes from southeast Pittsburgh, located on the Pennsylvania Turnpike. This newly acquired outlet center, consummated ahead of schedule and featuring premier tenants such as Polo/Ralph Lauren Factory Store, Jones New York, Adolfo II, Mikasa, Guess? Outlet, Corning/Revere, is the 12th outlet center in the Horizon Outlet Center portfolio, which brings the total to six states where Horizon Outlet Centers are located. The total acquisition price for the center was $18.1 million. Horizon Outlet Centers, Inc. is the largest developer, owner and operator of factory outlet centers in the Midwest and is among the largest in the United States, based on gross leasable area. Horizon Outlet Centers, Inc. operates in Birch Run, Port Huron, Traverse City, Monroe and Holland, Mich.; Fremont, Edinburgh and Michigan City, Ind.; Woodbury, Minn.; Oshkosh, Wis.; Gilroy, Calif.; and manages Exposition Mills Denton Factory Stores, Denton, Texas. Corporate headquarters for Horizon Outlet Centers, Inc. are located at 1050 W. Western Ave., Muskegon. -0- 1/5/94 /CONTACT: Marianne Napoli or Gary Geisler of Horizon Outlet Centers, 616-728-5170/ (HGI)
CO: Horizon Outlet Centers, Inc.; Georgian Place Outlet Center ST: Michigan, Pennsylvania IN: REA SU: TNM
SM -- DE021 -- 9299 01/05/94 11:07 EST
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|Date:||Jan 5, 1994|
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