The Outlet Resource Group and Singerman Real Estate have purchased The Outlet Shoppes at Oklahoma City. TORG will oversee leasing and marketing for the 400,000-square-foot center, which opened in 2011. Avison Young will handle property management.
“We are excited to enter the Oklahoma City market. This is a fantastic location for the only outlet center in the state, and it is easily accessible by shoppers coming from the central core of the city as well as the suburbs,” said TORG Principal Lisa Wagner. “The previous ownership established the center as a shopping destination, and we look forward to optimizing and improving the experience for shoppers and retailers.”
Wagner said the new owners are reviewing all aspects of operations and expect to rebrand the center in the coming months.
“Outlet shopping is the only form of shopping that customers tell us is still fun,” Wagner said. “We want to make sure the experience here is both entertaining and rewarding.”
The Outlet Shoppes at Oklahoma City hosts more than 90 retail outlets, including Nike, Vera Bradley, Michael Kors, Polo Ralph Lauren and Under Armour. Wagner said new retailer names such as Bath & Body Works have opened recently, and that more will likely come.
Oklahoma City Mayor Mick Cornett welcomed the change at the center.
“The new owners have committed to making the most out of one of Oklahoma City’s premier shopping destinations,” he said. “I’m thrilled they find value in our city, and I look forward to seeing what they do to make it even better.”
TORG represents outlet centers from coast to coast in the U.S. as well as in Europe. The firm’s team collectively has over 250 years of outlet experience with over 65 outlet centers.
SRE Principal Steve Duncan praised the acquisition.
"We see The Outlet Shoppes at Oklahoma City as a fantastic opportunity to acquire a high-quality property as our first investment in such a vibrant market,” Duncan said. “We are absolutely committed to further enhancing the shopping experience for customers at Oklahoma’s only outlet center.”