Developments of Consolidated Outlet Centers |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Developments of Consolidated Outlet Centers |
Developments of Consolidated Outlet Centers
The table below sets forth our consolidated outlet centers under development as of June 30, 2017:
Fort Worth
In September 2016, we purchased land in the greater Fort Worth, Texas area for approximately $11.2 million and began construction immediately on the development of a wholly-owned outlet center. The outlet center will be located within the 279-acre Champions Circle mixed-use development adjacent to Texas Motor Speedway.
Lancaster Expansion
In July 2016, we commenced construction on a 123,000 square foot expansion of our outlet center in Lancaster, Pennsylvania.
Interest Costs Capitalized
Interest costs capitalized for development activities, including development in our unconsolidated joint ventures, was $689,000 and $1.2 million for the three and six months ended June 30, 2017, respectively, and $634,000 and $1.1 million for the three and six months ended June 30, 2016, respectively.
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- Definition New Developments [Text Block] No definition available.
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- References No definition available.
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