Property will be Transformed to Unique Entertainment, Shopping and Dining Destination
The Staenberg Group (TSG), headquartered in St. Louis, Missouri, has announced the acquisition of Taubman Prestige Outlets in Chesterfield, Missouri, an affluent suburb of St. Louis. The shopping center, located in the Chesterfield Valley on North Outer 40 Road, is currently comprised of approximately 300,000 square feet of outlet retail space. TSG plans to transform the outlet center into a destination with exhilarating entertainment, innovative dining and unique shopping.
“This acquisition allows us the opportunity to deliver an exciting, vibrant entertainment destination unlike any other,” says Timothy Lowe, vice president of leasing and development for The Staenberg Group. “With a highly creative mix of attractions, there will be nothing else like this in the St. Louis market. Visitors will be immersed in a unique mix of fun, food, and style — all in one easily accessible location.”
During the estimated 12-month transition phase, the outlet property will be renamed Chesterfield Outlets, and customers will continue to find their favorite outlet shops.
“Our impressive portfolio of properties, including Chesterfield Commons, one of the most successful power center developments, underscores our ability and commitment to develop and sustain thriving retail centers,” says Michael H. Staenberg, president and founder of The Staenberg Group. “Our in-depth knowledge of the Chesterfield market, coupled with an exceptional working relationship with city officials, positions this project as a game-changer.”
The Staenberg Group develops, leases and manages commercial properties throughout the country. The company and its principal have developed, leased and managed a portfolio of more than 200 shopping centers comprising in excess of 35 million square feet of quality retail space, including over 1,000 restaurants and 1,000 retail transactions, across the United States.
TSG Properties is a full service commercial real estate development company that owns, manages and leases shopping centers throughout the heartland. The firm offers a complete menu of development and leasing services including site selection, design, build, acquisition, investment and partnership opportunities for shopping centers. Headquartered in St. Louis, Missouri, TSG Properties is headed by industry leader Michael Staenberg, who has developed, leased and managed a portfolio of over 100 properties comprising 20,000,000+ square feet of retail space across the US.