News

Stoneridge Mall owner buys Paragon Outlets in Livermore

Strips 'Paragon' name from center to call it Livermore Valley Premium Outlets

It could be a case of if you can't beat them, buy them, but the owners of Stoneridge Shopping Center in Pleasanton and Paragon Outlets in Livermore are now one and the same.

Simon Property Group, Inc., which owns and operates Stoneridge, announced Thursday that it has completed the acquisition of the newly-opened Paragon Outlets in Livermore, home to 130 leading designer and name brand outlet stores.

Simon also immediately stripped the outlet mall of its Paragon name, renaming the center Livermore Valley Premium Outlets.

In a parallel acquisition, Simon also acquired the Paragon Outlets center in Grand Prairie, Texas, a 417,000 square foot retail center that serves the Dallas-Fort Worth metropolitan area and is home to more than 100 leading designer and name brand outlet stores.

No financial terms were given.

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The now-renamed Paragon center opened just last month and is 100% leased, said John R. Klein, president of Simon's Premium Outlets platform.

The 512,000 square foot Livermore center, located just off I-580 at the El Charro Road exit, is home to high-end and mid-priced retailers including Saks Fifth Avenue OFF 5TH, Bloomingdale's The Outlet Store, Last Call by Neiman Marcus, Armani, Barneys New York, Coach, DKNY, Elie Tahari, Kate Spade New York, J.Crew, Lacoste, Michael Kors, Prada and Tommy Hilfiger.

"We are pleased to add these two highly productive centers to our portfolio," Klein said in commenting on the Texas and Tri-Valley acquisitions.

"The projects have been very well received by merchants and shoppers, they are wonderful additions to our business, and they will be immediately accretive (adding value) to our earnings."

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Stoneridge Mall owner buys Paragon Outlets in Livermore

Strips 'Paragon' name from center to call it Livermore Valley Premium Outlets

by / Pleasanton Weekly

Uploaded: Thu, Dec 6, 2012, 11:30 am
Updated: Tue, Dec 11, 2012, 7:37 am

It could be a case of if you can't beat them, buy them, but the owners of Stoneridge Shopping Center in Pleasanton and Paragon Outlets in Livermore are now one and the same.

Simon Property Group, Inc., which owns and operates Stoneridge, announced Thursday that it has completed the acquisition of the newly-opened Paragon Outlets in Livermore, home to 130 leading designer and name brand outlet stores.

Simon also immediately stripped the outlet mall of its Paragon name, renaming the center Livermore Valley Premium Outlets.

In a parallel acquisition, Simon also acquired the Paragon Outlets center in Grand Prairie, Texas, a 417,000 square foot retail center that serves the Dallas-Fort Worth metropolitan area and is home to more than 100 leading designer and name brand outlet stores.

No financial terms were given.

The now-renamed Paragon center opened just last month and is 100% leased, said John R. Klein, president of Simon's Premium Outlets platform.

The 512,000 square foot Livermore center, located just off I-580 at the El Charro Road exit, is home to high-end and mid-priced retailers including Saks Fifth Avenue OFF 5TH, Bloomingdale's The Outlet Store, Last Call by Neiman Marcus, Armani, Barneys New York, Coach, DKNY, Elie Tahari, Kate Spade New York, J.Crew, Lacoste, Michael Kors, Prada and Tommy Hilfiger.

"We are pleased to add these two highly productive centers to our portfolio," Klein said in commenting on the Texas and Tri-Valley acquisitions.

"The projects have been very well received by merchants and shoppers, they are wonderful additions to our business, and they will be immediately accretive (adding value) to our earnings."

Comments

Sue
Valley Trails
on Dec 6, 2012 at 4:27 pm
Sue, Valley Trails
on Dec 6, 2012 at 4:27 pm

Oh great! NOT! At least with 2 different owners there was the chance of competition. Now with ONE owner, they can continue to raise their prices and both places will eventually get out of control.

Try the items on at the store and then shop ON LINE. Way better prices without having to deal with getting robbed while walking out to your car in the parking lot.


Brickwall
Las Positas
on Dec 6, 2012 at 4:57 pm
Brickwall, Las Positas
on Dec 6, 2012 at 4:57 pm

I kind of liked the Paragon name. Livermore Valley shopping center sounds so generic.


Hmmm...
Another Pleasanton neighborhood
on Dec 7, 2012 at 12:08 am
Hmmm..., Another Pleasanton neighborhood
on Dec 7, 2012 at 12:08 am

Was selling immediately Paragon's plan all along?


Hmmm...
Another Pleasanton neighborhood
on Dec 7, 2012 at 12:25 am
Hmmm..., Another Pleasanton neighborhood
on Dec 7, 2012 at 12:25 am

I agree, Paragon is better than 'Livermore Valley Premium'. Premium is the name of all the other NoCal outlets, like Napa, Morgan Hill, etc. Apparently this one will be lumped in with all those other 'Premiums'. This one has greater number of more high-end stores.
For good or bad, it took me 5 minutes from my street to the parking lot at 6:50 tonight. Coming home from Stoneridge Mall at 5:30, I had observed the freeway at a standstill. Yet, I zoomed right to the outlet store at 6:50....really easy and handy ! darn!


John
Another Pleasanton neighborhood
on Dec 7, 2012 at 11:07 am
John, Another Pleasanton neighborhood
on Dec 7, 2012 at 11:07 am

Paragon is a hideous eyesore, even if it is business, jobs and tax revenue for the city. That it would end up owned by the same folks as Stoneridge is somehow no surprise at all. This is the landscape we seem to choose for ourselves out here in the 'burbs...


Clay
Dublin
on Dec 7, 2012 at 4:55 pm
Clay, Dublin
on Dec 7, 2012 at 4:55 pm

Livermore Valley Outlets... are you joking?

Hey Simon bigwigs - Please bring your brand team back in the room and let them know that nobody calls Livermore "Livermore Valley." "Paragon" honestly classes up the name. And so help me God if you rebrand and put grapes in your logo...


Eric
Downtown
on Dec 7, 2012 at 7:04 pm
Eric , Downtown
on Dec 7, 2012 at 7:04 pm

Great! They will stop the freeway from Portola to Foothill in both directions!


Papa John
Golden Eagle
on Dec 7, 2012 at 9:02 pm
Papa John, Golden Eagle
on Dec 7, 2012 at 9:02 pm

explains why it took so long to build and open the place now.


Bababooey
Castlewood
on Dec 8, 2012 at 7:32 am
Bababooey, Castlewood
on Dec 8, 2012 at 7:32 am

There goes competition...!
One month after it opens they get bought? A transaction like this takes time so it was probably planned all along...


Rick Perry
another community
on Dec 8, 2012 at 10:24 am
Rick Perry, another community
on Dec 8, 2012 at 10:24 am

Relax, it's just capitalism at work. Big companies get bigger by eating up the competition. But there's always room for a little sidewalk taco stand. Come to Texas if you want to see this principle at work.


GiGI
Las Positas
on Dec 8, 2012 at 3:38 pm
GiGI, Las Positas
on Dec 8, 2012 at 3:38 pm

I agree with others about the name change.......Paragon Outlets had more class and upscale sound to it, indicating that perhaps this wasn't an ordinary outlet. The name Livermore Valley doesn't set these outlets apart from any other outlet that has gone by the wayside. What were they thinking?


Joe
Ruby Hill
on Dec 8, 2012 at 8:45 pm
Joe, Ruby Hill
on Dec 8, 2012 at 8:45 pm

"Now with ONE owner, they can continue to raise their prices and both places will eventually get out of control."
"There goes competition...! One month after it opens they get bought? A transaction like this takes time so it was probably planned all along..."
The beauty of a blog, express your opinion and a lot of people can now see how really ignorant you are... Uhh, Sue/Bababoooooey, it's not the landlord who sets pricing, sales promotions, trains the sales help, and creates day-in, day-out competition -it's the retail tenant.
I'm assuming this perceived conspiracy to create a Livermore Valley shopping mall monopoly is the work of the evil forces of European socialism and will most likely be traced to, and eventually blamed on, the Obama administration.


babbooey
Castlewood
on Dec 9, 2012 at 11:14 am
babbooey, Castlewood
on Dec 9, 2012 at 11:14 am

@joe
The facility itself is a draw for shoppers to a shopping mall as well as the retail tenant.
What about upgrades and tenant improvements? Have you seen Stoneridge lately? Why do people drive down to Santana Row or Westfield?
DUH~!


I know...
Downtown
on Dec 10, 2012 at 9:28 am
I know..., Downtown
on Dec 10, 2012 at 9:28 am

The solution is have the gov't take it over and name it "Detroit" ... or "Oakland"


Trolling
Laguna Oaks
on Dec 10, 2012 at 9:41 am
Trolling, Laguna Oaks
on Dec 10, 2012 at 9:41 am

Trolls, trolls, trolls


resident
Danbury Park
on Dec 10, 2012 at 9:54 am
resident, Danbury Park
on Dec 10, 2012 at 9:54 am

Stoneridge will most likely be sold someday for more apartment constuction.


Larry
Livermore
on Dec 10, 2012 at 1:13 pm
Larry, Livermore
on Dec 10, 2012 at 1:13 pm

You people need a life, we know who to blame, it was George Bush that caused it. I think the center is beautiful, and will add to the Livermore Valley what has been missing. The same people that complain that we have it, complained that we didn't have any shopping in Livermore, so as I said, get a life.


Styler
Livermore
on Dec 11, 2012 at 4:05 pm
Styler, Livermore
on Dec 11, 2012 at 4:05 pm

I love the Outlets and have been there 3 times already. I do wish that they would keep the Paragon name though. I mean, the street is already named Paragon Outlets Drive for crying out loud.


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