THE PRIME GROUP, INC. ANNOUNCES NEW FACTORY OUTLET CENTER -- PHOENIX FACTORY SHOPS Development to Bring Jobs, Discount Shopping to Cordes Junction, Ariz.
CORDES JUNCTION, Ariz., Jan. 4 /PRNewswire/ -- The Prime Group, Inc. (Prime), a Baltimore-based developer, unveiled plans today for building a three-phase, 400,000-square-foot factory outlet center here that will bring more than 1,100 construction and permanent jobs to the area, and millions of dollars in construction and operating contracts to local businesses. At a meeting held at the Cordes Lakes Community Center today, The Prime Group, Inc., developers of the center, unveiled plans for the outlet center to be located 50 miles north of Phoenix and 65 miles south of Flagstaff at the intersection of Interstate 17 and Route 69. The center will house approximately 120 retail outlets when fully complete, offering brand name merchandise directly from the manufacturer at significant discounts of 25 to 70 percent off retail prices. The outlet center will serve the Phoenix, Sedona, Flagstaff, and Prescott markets as well as the 11.6 million tourists who visit the region annually. Tentatively called the Phoenix Factory Shops, the center, when complete, will feature southwestern style architecture set in Prime's signature village-style layout, a food court, children's playground and ample parking. According to Prime, the center's groundbreaking is projected for summer 1994 with grand opening scheduled for spring 1995. "We anticipate that this project will be a big success," said Bruce Zalaznick, senior vice president of Prime. "As a true joint public/private effort, county officials have already demonstrated their support, and we look forward to a long and mutually beneficial partnership." In addition to Zalaznick, Prime officials John Klein, vice president, site acquisitions, and Paul Reed, project manager, presented plans for the Factory Shops to area residents at the monthly community meeting held at the Cordes Lakes Community Center. The Prime Group, Inc. is a leading outlet center developer and has seven operating centers: Texas (two centers); Florida; Tennessee; North Carolina; Colorado; and Ohio. Three new outlet centers are under construction in Pennsylvania, Illinois and Florida, with grand openings scheduled for summer 1994. The Prime Group, Inc. was recently awarded the Outlet Developer of the Year award from "Value Retail News," the outlet industry's premier publication. PHOENIX FACTORY SHOPS At Cordes Junction, Ariz. A Development Of The Prime Group, Inc. Project Description: Three-phased, village-style factory outlet center featuring a diverse tenant mix, food court, playground and extensive landscaping. Project Location: Intersection of Interstate 17 and Route 69 50 miles north of Phoenix 65 miles south of Flagstaff in Cordes Junction, Ariz. Project Size: Phase I 200,000 square feet Phase II 100,000 square feet Phase III 100,000 square feet Total 400,000 square feet Project Timetable: Groundbreaking - Summer 1994 (projected) Grand opening - Spring 1995 Jobs Created: Construction Permanent (projected) (management/maintenance) Phase I 300 Phase I 250 Phase II 150 Phase II 125 Phase III 150 Phase III 125 Total 600 Total 500 Project total: 1,100 jobs created Developer: The Prime Group, Inc. 100 E. Pratt St. 19th Floor Baltimore, Md. 21202 410-234-0782 Architect: Design Collective Inc. 100 E. Pratt St. Baltimore, Maryland 21202 410-685-6655 -0- 1/4/94 /CONTACT: Anya T. Harris of TBC Public Relations, 410-347-7500, ext. 310, for The Prime Group/
CO: The Prime Group, Inc. ST: Arizona IN: SU:
JO-JM -- PH016 -- 9068 01/04/94 17:41 EST
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|Date:||Jan 4, 1994|
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