Developer Anticipates Late Summer Groundbreaking
BALTIMORE (May 26, 2015) — Paragon Outlet Partners, a retail real estate development firm headquartered in Baltimore, Maryland, announced today it has finalized plans to develop Paragon Outlets Houston. Upon completion of Phase I, the ground-up project, which sits approximately 30 minutes southwest of Houston, will include more than 283,000 square feet of gross leasable area.
Located in the City of Rosenberg along Interstate 69 and Reading Road in Fort Bend County, ranked by Forbes as the fifth fastest growing county in the United States, Paragon Outlets Houston is slated to begin serving the Greater Houston metropolis in November of 2016.
“We’re pleased to have formalized our plans with the City of Rosenberg to begin the development of Paragon Outlets Houston,” said Paragon Outlets Partner Principal Robert Brvenik. “When we celebrate our grand opening, customers will not only enjoy a state-of-the-art outlet shopping experience, but saving dramatically at a collection of more than 100 leading designer and top name brands.”
City of Rosenberg Mayor Vincent M. Morales, Jr., added, “The Paragon Outlets Houston project capitalizes on the phenomenal growth Fort Bend County is experiencing and the relative strength of our area demographics for retail development. We look forward to the project’s groundbreaking.”
Paragon Outlets Houston is expected to bring approximately 400 construction jobs along with up to 1,000 permanent jobs to the marketplace.
For more information, please contact Paul Reed with development inquiries and Michele Dawson with leasing inquiries at 410.856.1733.
About Paragon Outlet Partners
Headquartered in Baltimore, Maryland, Paragon Outlet Partners is a commercial real estate development firm operated by a seasoned team of former Prime Retail executives. The company’s upscale merchant portfolio includes top designer and leading brand names Saks Fifth Avenue OFF 5TH, Last Call by Neiman Marcus, Bloomingdale’s The Outlet Store, Barney’s New York Outlet, Coach Factory, Michael Kors, Banana Republic, GAP, Nike Factory Store and Tommy Hilfiger, among many more. Its parent company, The Lightstone Group, is one of the largest privately held real estate companies in the U.S. with a diversified portfolio of retail, hospitality, office, industrial and residential real estate assets, including more than 8.1 million square feet of commercial space and more than 11,000 multi-family units in 19 states.