The initial 260,000-sf outlet shopping center opened in October2000. More recently, pads for a 7,000-sf TGI Friday's and a40,000-sf, nine-screen movie theater were added under groundleases, and approvals were obtained for a 200,000-sf expansion.

Gary Skoien, Horizon's president and CEO, tells GlobeSt.com, "Weabsolutely intend to construct the expansion. We're making sure thedesign in place is the right layout and will probably develop it inphases, beginning with approximately 50,000 sf. We're looking at a2008 opening."

He estimates the full expansion will cost between $40 millionand $50 million. The existing center is well over 90% leased, andhas been consistently so from the beginning. Rent rates, Skoiensays, "are in the low $20s per sf, triple net. We have real stronginterest from three or four prospective tenants for the expandedspace," he adds and says they are outlet stores.