Lormax Stern and Time Equities Inc. Acquire Kensington Valley Outlets in Howell, Michigan
The 314,438-Square-Foot Outlet Center Marks the Fourth Joint Venture Between the Two Firms
HOWELL, MICHIGAN – MAY 2, 2025 – Lormax Stern and Time Equities, Inc. (TEI), a New York City-based international full-service real estate firm, have jointly acquired an outlet center in Howell, Michigan. Formerly known as Tanger Outlets Howell, the center has been rebranded as Kensington Valley Outlets.
“This marks our fourth joint venture with Lormax Stern, a partnership built on shared expertise and a strong track record of success,” said Ami Ziff, Director of National Retail at TEI. “We’re aligned in our approach to activating and repositioning retail assets, and we look forward to working together once again to unlock the potential of Kensington Valley Outlets.”
Built in 1996, the Kensington Valley Outlets is home to a mix of national brands including
- H&M
- Old Navy
- Nike Factory Store
- Columbia
- Banana Republic
- Gap
- Polo Ralph Lauren Factory Store
- Famous Footwear
- Eddie Bauer
The outlet center is strategically located along the I-96 corridor between Detroit and Lansing, MI with 1.3 million customer visits in the last 12 months. Kensington Valley Outlets is easily accessible from four of the five Metropolitan Statistical Areas (MSA) in the state, with a combined population of 5.65 million and key drive markets including Detroit, Ann Arbor and Flint.
“Seeing the exciting developments underway in Howell reinforces our belief in the market’s long-term potential,” Ziff added. “Our investment reflects a broader commitment to placemaking and creating lasting value for the community.”
TEI was represented by Ziff, Jonathan Kim, Grant Scott, and Eli Smith, while Lormax Stern was represented by Andrew Bell, Matt Drozd, Sam Pietsch, and Mark Franchini. The seller was represented by Mark E. Strauss, Senior Managing Director of Investments at Institutional Property Advisors.
About Lormax Stern Development Company, LLC
Lormax Stern Development Company, LLC is a fully integrated commercial real estate firm specializing in the acquisition, development and operational oversight of anchored real estate properties across the continental U.S. Lormax Stern is a value-centric investor, specializing in real estate investments where value is created through superior market knowledge, asset expertise, detailed analysis, project specific business plans and methodical execution as an experienced investment sponsor. Lormax Stern provides expert-level oversight to each component of the investment process, including an in-house acquisition and development team, leasing specialists, property and asset managers and legal counsel. For more information: https://www.lormaxstern.com/
About Time Equities Inc.
Founded in 1966, Time Equities, Inc. (“TEI”) is a diversified investment, development, asset and property management, licensed real estate brokerage, and alternative energy company that has been in business for more than 58 years. The TEI portfolio includes approximately 43 million square feet of residential, industrial, office and retail property including about 6,000 multi-family apartment units, approximately 900,000 square feet in pending acquisitions, and 2 million square feet of various property types in stages of pre-development and development. With 329 properties across 37 states, five Canadian provinces, Anguilla, Germany, Italy, and the Netherlands, the TEI portfolio benefits from a diversity of asset types including non-performing loans, B-notes, and alternative energy investments. TEI has a variety of market concentrations in the Northeast, Southeast, Midwest and West Coast of the U.S., and new markets around the world are always being evaluated. For more information: www.timeequities.com
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Press Contacts
Time Equities: TEI@quinn.pr
Lormax Stern: dford@lormaxstern.com
