Factory Outlet Owner To Get More Outlets

Tue., June 16, 1998

From Staff

Prime Retail Inc., which owns Factory Outlets in Post Falls, will merge with another company to become the largest owner-operator and developer of factory outlet centers in the world.

The Baltimore-based company will spend $973.1 million to acquire 22 of the Horizon Group Inc.’s top performing outlet centers. The merger was approved by stockholders Monday. It gives Prime Retail 49 centers in 26 states.

Horizon’s remaining 13 centers and two of Prime’s centers will be spun-off into a separate public company, Horizon Group Properties Inc.

The merger will increase the number of stores in Prime Retail’s portfolio offering premier brands such as Polo, Nike, Liz Claiborne and The Gap, said Prime Retail CEO Abraham Rosenthal.

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are tax deductible.

Meet Our Journalists

Jesse Tinsley

Meet Jesse Tinsley. As a certified drone pilot, this veteran Spokesman-Review photographer often can be seen capturing beautiful aerial photographs of our region. Sometimes though, the job requires getting down with the dogs.
Jim Meehan

Jim Meehan is no stranger to Zag Nation. As the lead writer covering the Gonzaga men’s basketball team, he tells the stories behind the game and gets fans a bit closer to their favorite players.
Molly Quinn

There is no artist in Spokane like Molly Quinn. Her whimsical style is instantly recognizable to readers of The Spokesman-Review. She has painted gorgeous illustrations that instantly elevate the journalism accompanying it. She brings to life the stories that defy photography. She makes our pages better.
Rob Curley

Spokesman-Review editor Rob Curley loves to talk with people and learn about their lives, whether it's a best-selling author or a stranger he meets downtown on his walk to lunch. It's that inquisitive nature combined with a playful sense of storytelling that helps make our newspaper different than most.

Factory Outlet Owner To Get More Outlets

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

Trump says framework of Iran deal 'largely negotiated,' with provision to reopen strait

Tens of thousands march in Madrid to demand prime minister's resignation

Thousands evacuated around leaking chemical tank in California's Orange County: ‘It fails, or it blows up’