Prime Retail Announces New Ground-Up Project North of Atlanta

Site to Offer Nearly Half-Million Square Feet of Retail Space

BALTIMORE, May 19 /PRNewswire/ -- Prime Retail, a leading outlet shopping
center developer, announced today the development of a 450,000 square foot
outlet center in Holly Springs, Ga., set to open in 2010. Prime Outlets --
Holly Springs will be located approximately 30 miles north of Atlanta in
Cherokee County on Interstate 575 and will serve the metro Atlanta region. An
estimated $120 million project, Prime Outlets -- Holly Springs will house
approximately 120 stores. The project is expected to bring approximately
2,000 jobs to the area.
"The Atlanta market ranked off the charts when measured against the
criteria we use to determine the potential success of an outlet project,"
explained Robert Brvenik, president of Prime Retail. According to the U.S.
Census Bureau, the Metro Atlanta region led the nation in population growth
between 2000 and 2006, with more than 150,000 people moving to the region each
year. "The need is there for a new, well-tenanted, outlet shopping destination
that will provide access to a compelling mix of top designer and brand-name
stores that offer shoppers dramatic savings off regular retail prices."
Prime Retail's new project joins recent ground-up development
announcements for the company, including the 485,000 square foot Prime Outlets
-- Grand Prairie, set to serve the Dallas-Fort Worth region, and Prime Outlets
-- Livermore, the 485,000 square foot project in the San Francisco Bay area.
About Prime Retail
Headquartered in Baltimore, Md., Prime Retail is the parent company of
Prime Outlets and one of the largest and most successful owners of retail
centers in the U.S. Spanning more than eight million square feet throughout
major United States markets and Puerto Rico, Prime Retail recently added top
designer and brand name stores including Giorgio Armani General Store, Gucci,
Michael Kors, Polo Ralph Lauren Factory Store, Salvatore Ferragamo Company
Store, Zegna Outlet and many more to its portfolio. The company owns and
operates 21 Prime Outlets in markets including Orlando, San Marcos, Texas,
Williamsburg, Va., and Grove City, Pa. Adding nearly two million square feet
over the next several years, Prime Retail is positioned to become the leading
retail outlet company in the industry. For more information, please visit
www.primeretail.com .
SOURCE Prime Retail

Gretchen Ramsey, +1-609-397-4242, ext. 117, Cell, +1-215-337-1899,
gramsey@oxfordcommunications.com, or Sue Helondovitch, +1-609-397-4242, ext.
176, Cell, +1-908-930-6509, shelondovitch@oxfordcommunications.com, both of
Oxford Communications for Prime Retail