Retail behemoth Simon Property Group has confirmed that construction on Tampa Premium Outlets is under way and said that the property is slated to open in October 2015.
Indianapolis-based Simon said in its third-quarter earnings report Wednesday that construction began on the 441,000-square-foot project in the third quarter. Simon paid $14.6 million for the site in early October, according to Pasco County property records. Pasco planning officials approved Simon’s construction plans shortly before the sale closed.
The mall will be located at the intersection of Interstate 75 and State Road 56 in Wesley Chapel. Click here to see Simon’s leasing flyer.
A Simon spokesman declined comment on the outlet mall beyond the information in the release. It’s not clear if the previously announced anchor, Saks Off Fifth, is still committed to the deal, though it’s unlikely Simon would close on the land without a deal with an anchor tenant in place.
The Tampa Premium Outlets are part of $2.2 billion pipeline of Simon developments, the company said, a number of which are outlet malls, located throughout the country. More retailers are embracing their outlet concepts, putting outlet stores closer to their mainline locations.
Ashley Gurbal Kritzer is a reporter for the Tampa Bay Business Journal.