Washington Prime Group Announces Latest Redevelopment Project with Expansion at Classen Curve
May 02 2017 - 4:10PM
Business Wire
Washington Prime Group Inc. (NYSE: WPG) today announced its most
recent redevelopment effort, a multitenant expansion at Classen
Curve located in Oklahoma City, OK. The $11.5M expansion, which
will add approximately 30,000 SF to an already vibrant lifestyle
center, is expected to open in two phases starting the fourth
quarter of 2017.
Lou Conforti, CEO and Director: “As previously discussed, our
objective is to deliver on value enhancing redevelopment
opportunities which result in differentiated tenancy. We currently
have more than 45 projects ranging between $1-$60M substantiating
our $125-$150M of annual capital spend with an average estimated
project yield of 9.5%.”
As part of the expansion, Classen Curve will welcome
first-to-market Athleta, Evereve and Soft Surroundings, as well as
Board Room Salon for Men and Francesca’s. Apart from the expansion,
the Company is pleased to announce that Bassett Furniture and
first-to-state Cos Bar will join the dynamic retail offerings at
the center.
David Allsbrooks, General Manager of Classen Curve: “We are
excited for the expansion at Classen Curve which demonstrates our
commitment to our guests and Oklahoma City. The center continues to
grow, bringing unique national and local retailers and restaurants.
This project allows us to expand upon our already diverse
merchandise mix, solidifying Classen Curve as the premiere
lifestyle destination in heart of Oklahoma City.”
Recent openings at Classen Curve include Cycle Bar, Lily Rain
and Rustic Cuff.
About Classen Curve and Nichols Hills Plaza
Located just 5 minutes from downtown Oklahoma City, Classen
Curve and Nichols Hills Plaza comprise of a unique collection of
national and locally-owned retailers and dining choices in the
heart of Oklahoma City. Popular stores and dining options include
Anthropologie, CK & Company, Kendra Scott, lululemon athletica,
On a Whim, Red Coyote Running and Fitness, Republic Gastropub,
Saturn Grill, Starbucks, Trader Joe’s, West Elm, Whole Foods Market
and Zoe’s Kitchen.
About Washington Prime Group
Washington Prime Group Inc. is a retail REIT and a recognized
leader in the ownership, management, acquisition and development of
retail properties. The Company combines a national real estate
portfolio with an investment grade balance sheet, leveraging its
expertise across the entire shopping center sector to increase cash
flow through rigorous management of assets and provide new
opportunities to retailers looking for growth throughout the U.S.
Trademark registration for the name Washington Prime Group is
pending. Learn more at www.washingtonprime.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170502006815/en/
Washington Prime Group Inc.Kimberly A. Green,
614-887-5647kim.green@washingtonprime.com
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