Company Increases Stake in Oxnard Factory Outlet

A Baltimore company that already owns a 30% equity interest in the Oxnard Factory Outlet has purchased an additional 20%.

Prime Retail Inc. is the second-largest developer, owner and manager of factory outlet centers in the United States. Its purchase gives it a 50% interest in the Oxnard outlet, with the remaining half owned by an affiliate of Fru-Con Development Corp.

The Oxnard Factory Outlet contains approximately 148,000 square feet of lease space and was 89% occupied as of Dec. 31. Lead merchants include Harmon Audio, Casual Corner Outlet, Fila, Gap Outlet, Geoffrey Beene, Nine West, L’eggs/Hanes/Bali/Playtex, Max Studio and Petite Sophisticate.

Prime Retail’s portfolio includes 24 outlet centers in 18 states.