Talisman Companies LLC

November 10, 2005 08:00 ET

Shopping Center Redeveloper, Talisman Companies LLC Purchases the Outlets at Niagara Falls, USA

CORAL GABLES, Fla.--(CCNMatthews - Nov 10, 2005) -

Leading Florida-based shopping center redeveloper, Talisman Companies LLC ("Talisman"), announced today that they have acquired The Outlets at Niagara Falls in Niagara Falls, New York, for $62 million. The Outlets at Niagara Falls is located 25 minutes north of Buffalo and 90 minutes south of Toronto on US Route 62, just off of Interstate 190. The 530,000-square-foot shopping center features 150 stores including Polo/Ralph Lauren, Burberry, Anne Klein, Off 5th Saks Fifth Avenue, Tommy Hilfiger, Jones New York, and Coach.

Recognized as a leader in the redevelopment and remarketing of shopping centers, James A. Schlesinger is the founder of Florida-based Talisman Companies LLC. The company owns and operates such notable developments as Fashion Outlets of Las Vegas; located in Las Vegas; Southland Mall and Miracle Plaza in Miami and other projects across the United States. The purchase of The Outlets at Niagara Falls is Talisman's first in New York.

"Our ultimate goal for the Outlets at Niagara Falls is to attract additional upscale, name-brand retailers to the existing base of retailers similar to our retenanting and remarketing of the Fashion Outlets of Las Vegas development," said Schlesinger, president and CEO of Talisman. "The Outlets at Niagara Falls is extremely well-located in one of the most famous tourist destination and we excel at developing tourism business. We will bring the Center in-line with the quality that Talisman is recognized for in the retail shopping center industry."

Outlets at Niagara Falls is located in one of the largest tourist destinations in New York. The Falls area attracts over 25 million visitors and generates more than $1 billion a year in revenue for the region. The proximity of the Falls to the metropolitan areas of New York and Toronto put it within easy reach of more than 100 million people. "We will soon change the name of the Center to reflect the new ownership to brand it along with our Fashion Outlets of Las Vegas center," stated Schlesinger. "In the near future we also will announce many new tenants."

For company information contact: Talisman Companies LLC, please refer to the company's Web site www.talismancompaniesllc.com.

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