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CBL & Associates, Horizon Group form JV to develop Texas shopping center

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CBL & Associates, Horizon Group form JV to develop Texas shopping center

CBL &Associates Properties Inc. and Horizon Group Properties Inc. have joined hands todevelop The Outlet Shoppes at Laredo, a 358,000-square-foot project in Laredo,Texas.

CBL and Horizon are co-developing the project under a 65/35joint venture, with the latter responsible for leasing and management.

Construction of the project is underway, with openingscheduled for spring 2017. The project is almost 80% leased.

Once complete, the project is expected to generate over $134million in annual sales.