COLUMBUS, Ohio--(BUSINESS WIRE)--May 2, 2017--
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
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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Source: Washington Prime Group Inc.
Washington Prime Group Inc.
Kimberly A. Green, 614-887-5647