Advertisement
HomeCollectionsPrime Retail
IN THE NEWS

Prime Retail

FEATURED ARTICLES
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,Sun Staff Writer | May 19, 1995
Fueled by the success of its recent growth, Prime Retail Inc. yesterday said it plans to develop roughly $100 million worth of new factory outlet centers each year though 1997.As part of its development program, the Baltimore-based real estate investment trust (REIT) plans to build its first Maryland center in Hagerstown, company executives informed shareholders during its annual meeting.Prime Retail intends to open the first phase of the 200,000-square-foot project late next year. Thus far, the company has obtained an option to purchase 76 acres at the junction of Interstates 81 and 70, officials said.
ARTICLES BY DATE
EXPLORE
By Louise Vest | November 20, 2011
100 Years Ago Warm wears at Turkey Day sale In a large ad in the paper that week Caplans announces: "Caplans Thanksgiving Day Sale: Caplans Underselling Store : R. Caplan Proprietor Blankets on sale. $1.25 down to 69 cents; $l.50 and $2. women's dresses Men's Heavy wool pants 87 cents; Dress pants, $1.25; Overcoats $5.50; Suits, $3.50" 75 Years Ago High tech for the farmer set "Rural Radio Buying Now on the Upgrade.
Advertisement
BUSINESS
By States News Service | September 11, 1993
Prime Retail Inc., a Baltimore-based real estate investment trust that specializes in factory-outlet centers, plans to go public with an initial public offering of 13.45 million shares worth about $20 each through Goldman, Sachs, & Co., Merrill Lynch & Co. and Kemper Securities Inc.Prime Retail owns outlet centers and community shopping centers in Tennessee, Texas, Florida, Ohio and Colorado and plans to open centers in Pennsylvania and Illinois. It was formed to expand the retail division of The Prime Group Inc.Prime Retail shares are expected to trade on the New York Stock Exchange under the symbol PRM.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | July 14, 2010
Prime Retail Management, an arm of the Baltimore-based owner of outlet shopping centers, will lay off 44 workers at its downtown Baltimore office by Sept. 5, the company said in a notice filed with Maryland's labor department. The notice to the state's Department of Labor, Licensing and Regulation did not indicate whether or not the East Redwood Street office would be closed. Prime Outlets Acquisition Co., which owns 22 outlet malls around the country including Prime Outlets Hagerstown and Prime Outlets Queenstown, is to be acquired in a $2.33 billion deal by Simon Property Group, the nation's largest owner of malls.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,Sun Staff Writer | August 2, 1995
Prime Retail Inc. experienced a nearly 18 percent gain in operational income in the first six months of 1995, the result of four new outlet malls opened in the second half of last year.The Baltimore-based real estate investment trust generated funds from operations of $15.9 million in the first six months, while earnings before interest, taxes and other noncash charges rose by 49.6 percent, to $22.6 million, in the same period.The trust's revenues climbed by nearly the same percentage in the two combined quarters, to $36.1 million vs. $25.3 million in the comparable 1994 cycle.
BUSINESS
By From Staff Reports | March 16, 1994
Prime Retail Inc. of Baltimore said yesterday that it plans to go public next week in an offering of common and preferred stock.Friedman, Billings, Ramsey & Co., the underwriter, will offer 2.5 million shares of Prime Retail common stock at $19 a share, 2 million shares of 10.5 percent Series A Senior Cumulative Preferred Stock at $25 a share and 6.1 million shares of its 8.5 percent Series B Cumulative Participating Convertible Preferred Stock at a...
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,Sun Staff Writer | November 9, 1994
Prime Retail Inc. reported yesterday a significant jump in both third-quarter and nine-month operating income and said it intends to boost its performance further with new projects.The Baltimore-based real estate investment trust (REIT) said it generated funds from operations of $8.1 million, or 51 cents per common share, in the three months ended Sept. 30. The earnings were slightly better than the company had projected, said Robert P. Mulreaney, Prime Retail's chief financial officer.Funds from operations -- a key gauge of a REIT's performance defined as net income plus depreciation and amortization -- increased 105 percent in the quarter before allocations to preferred shareholders and minority interests.
BUSINESS
January 1, 1999
Stores in outlet centers owned by Baltimore-based Prime Retail Inc. saw their sales rise 4.08 percent during the holiday season, the company said yesterday.Customer traffic at the company's 50 outlet centers nationwide also increased -- by 4.77 percent -- for the period from Thanksgiving to Christmas.Prime Retail, the world's largest developer, owner and manager of outlet centers, based its results on a preliminary sampling of sales reported by about 500 merchants in all categories.``Several factors, including a growing consumer emphasis on value, the great variety and large selection of brand-name merchandise available and an additional shopping day, helped achieve these increases,'' said William H. Carpenter Jr., president and chief operating officer for the real estate investment trust.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | January 30, 1996
Prime Retail Inc. reported yesterday that its operational income rose to $33.1 million in 1995, a 13 percent increase from a year ago, resulting primarily from the opening of new projects.The Baltimore-based developer and owner of retail factory outlet centers also posted positive results in the fourth quarter ended Dec. 31, generating adjusted funds from operations to common shareholders of $8.9 million. That figure represents a 15.1 percent gain from the corresponding period a year ago."
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | May 30, 1996
Prime Retail Inc. is growing up.Once an upstart outlet mall developer with complicated tiers of stock, a limited number of institutional investors and scant analyst following, the Baltimore-based real estate investment trust is making a number of moves to mature and become more mainstream.In addition to a stock offering that is expected to raise $43.5 million -- its first since a $300 million IPO in March 1994 -- Prime Retail intends to spend much of 1996 simplifying its corporate structure and shifting its stock to the Big Board, the company told shareholders during its annual meeting yesterday.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,andrea.walker@baltsun.com | November 29, 2008
As the housing market collapsed this year, so did Meghan Sullivan's salary - by about $25,000. The 38-year-old Centreville woman, who works for a builder, is on a tight budget this holiday season, and thought what better place to find a deal than an outlet mall. Yesterday, she joined thousands of shoppers with the same idea at Prime Outlets in Queenstown, where the parking lots were so full that people had to park in the median of the nearby highway. "With the economy this year, I thought it was worth it to come here and get better deals," said Sullivan, who works partly on commission.
NEWS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | November 12, 2006
Diehard shoppers now have a Midnight Madness to call their own, and it comes just a few hours after Thanksgiving dinner. Across the country, more malls and retailers plan to open their doors just minutes into the Friday after Thanksgiving to get an even earlier jump on the traditional start of holiday shopping season. The events - named after the midnight games and parties that kick off the basketball season at many colleges - are designed to lure shoppers in the pre-dawn Friday hours before many competitors even open their doors at 5 a.m. or so. It's a strategy that is gaining momentum with retailers as they try to grab the attention of shoppers who have more choices than ever at both bricks-and-mortar stores and on the Internet.
NEWS
By JACQUES KELLY and JACQUES KELLY,SUN REPORTER | July 25, 2006
David Guthrie Phillips, a founder of a real estate development business who had been a leader in brand-name outlet retailing, died July 18. The Owings Mills resident was 44. The state medical examiner's office said yesterday that Mr. Phillips had ended his life. His body was recovered in the Chesapeake Bay Thursday, two days after his automobile had been found abandoned on the Bay Bridge. Born in Norwich, Conn., and raised in Mystic, Conn., he earned a bachelor's degree in business administration from the University of Vermont and had a master's degree from the Johns Hopkins University.
NEWS
July 24, 2006
On July 20, 2006, DAVID GUTHRIEPHILLIPS; 44, of Owings Mills, beloved husband of Katherine Godine Phillips and devoted father to Katherine and Walker, died unexpectedly in Anne Arundel County. He was a co-founder and managing partner of GT Property Group LLC, a real estate development company and had established a long and distinguished career in commercial real estate at Prime Retail, a leading national outlet developer, where he worked for 17 years, rising to the position of Executive Vice President for Leasing, International and New Business Development, and President for Prime Retail Europe.
BUSINESS
By ANDREA K. WALKER and ANDREA K. WALKER,SUN REPORTER | July 2, 2006
A summertime trip to the beach often includes an outlet shopping excursion, and the first stop for many travelers has historically been just across the Bay Bridge -- a halfway reprieve spot for those headed to Ocean City or Rehoboth Beach, Del., from Baltimore or Washington. But the shopping landscape on the "Upper Shore" has changed drastically in the last decade. Evolving traffic patterns and highway expansions have hurt retail on both sides of the bridge, leaving whole developments desolate.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | April 12, 2005
Bob Brvenik was in Detroit for business a year ago when he approached a group of women and asked if they shopped at the nearby outlet mall. "I haven't been there in a while," replied one woman, unaware that she was talking to the president of Prime Retail Inc., the owner of 29 outlet shopping centers, including the one in question. "It hasn't changed much in five years. When was the last time they painted it?" The conversation confirmed what Brvenik and his team of executives knew - that years of financial problems under previous owners had taken their toll on many of Prime Retail's shopping centers.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | June 29, 1996
Prime Retail Inc. has completed a major step in its plan to become more mainstream: a $43.5 million secondary stock offering that will reduce its debt and increase its recognition on Wall Street.The Baltimore-based real estate investment trust's offering of 3.8 million shares -- its first since a March 1994 initial public offering -- comes on the heels of a re- cent conversion of 66 percent of one tier of its preferred stock to common shares, and a new $260 million loan commitment from its biggest lender.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | December 13, 2003
A New Jersey real estate company, in a deal valued at $638 million, has acquired Prime Retail Inc., the troubled Baltimore company that is the nation's second-largest operator of outlet malls. Under the agreement, Lightstone Group LLC, which operates 19.3 million square feet of commercial space in 26 states and Puerto Rico, assumes $523 million of Prime Retail's debt and will pay shareholders $115.5 million. The company now becomes privately held by Lightstone. Prime Retail's headquarters and management team will remain in Baltimore, officials said.
NEWS
By TaNoah Morgan and TaNoah Morgan,SUN STAFF | November 10, 2003
Dan Riker uses neon signs located behind reflective windows to attract customers to his bookstore. Katharine S. Gobbel flies flags and covers her windows with posters of sunbathers reclining on beaches, and Randall Brigs has signs along Route 108, pointing the way to his laser tag center. Such efforts to grab a customer's attention are not remarkable, but for these retailers, they are far more important than for most because they are located in office and industrial complexes rather than more expensive commercial strips.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.