Traverse City Record-Eagle

Latest News - Mobile

November 19, 2012

New owner for Traverse City outlet mall

TRAVERSE CITY — A township official hopes some tender loving care from the new owner of Traverse City Outlets will revive the beleaguered outlet mall.

TC Center Partners, LLC, led by Traverse City developer Jerry Snowden, won a Sept. 25 online auction to buy Traverse City Outlets, formerly called the Horizon Outlet Mall, on US-31 South.

Snowden hasn’t announced definitive plans for what he’s going to do. But anything is better than the ownership of “a nameless, faceless corporation,” said Garfield Township Supervisor Chuck Korn.

“The business basically died from lack of attention,” Korn said. “We basically have been appraising that property as empty land with a restaurant and theater on it. The building I think is a tear down; it wasn’t a great quality construction to start with, and it hasn’t been maintained well.”

The two properties that include a theater, three blue-roofed buildings, and restaurant are assessed at a cash value of $3.5 million, Korn said. “We figure $250,000 is the cash value of the three blue-topped buildings. They’re not worth nothing, but very close to it.”

Snowden said the top suggestions he typically hears for the properties include Costco, a warehouse retail store; Trader Joe’s, a specialty grocery store; and Whole Foods, a natural foods supermarket. People also believe that Target and T.J. Maxx need a larger home.

“It’s all up in the air,” Snowden said. “It’s a great site, great location, great potential. There are a lot of moving parts, existing tenants, existing leases.”

Snowden said various approaches could include re-leasing, renovation, upgrades or demolition. The final decision will depend on what market research reveals, he said.

The property has a complicated history, and Snowden’s third attempt to buy the site turned out to be charmed.

The faltering economy can’t necessarily be blamed for Horizon’s recent troubles. Outlet malls have been booming in the country, thanks to price-conscious shoppers who believe they are getting true designer clothes at a fraction of the price, according to

Outlet malls have proven so popular that retail stores are manufacturing clothes exclusively for the outlet channel. That means shoppers aren’t necessarily getting the same level of quality of their sister stores in the traditional malls, reported.

Text Only

Twitter Updates
Follow us on twitter
Associated Press Video
Big Weekend For Atlanta Braves In Cooperstown - @TheBuzzeronFox Chapter Two: Becoming a first-time director What's Got Jack Black Freaking Out at Comic-Con? Doctors Remove 232 Teeth From Teen's Mouth Bradley Cooper Explains His Voice in 'Guardians of the Galaxy' Deja vu: Another NYPD officer choke-holding a suspect 'Fifty Shades of Grey': Watch the Super Sexy First Trailer Now! Reports: Ravens RB Ray Rice Suspended For 1st 2 Games Of The Season Air Algerie plane with 119 on board missing over Mali Diamond Stone, Malik Newman, Josh Jackson and others showcase talent Free Arturo - The World's Saddest Polar Bear A Look Back at Batman On Film Through The Years LeBron James -- Dropped $2k On Cupcake Apology ... Proceeds To Benefit Charity Snoop Dogg Says He Smoked Weed at the White House Raw: Fight Breaks Out in Ukraine Parliament Chris Pratt Interrupts Interview To French Braid Intern's Hair Shirtless Super Mario Balotelli Dances While Ironing - @TheBuzzeronFOX Whoa! Watch "Housewives" Star Do the Unthinkable LeBron apologizes to neighbors with cupcakes Justin Bieber In Calvin Klein Underwear Shoot