Prime Retail to Develop Outlet Mall in Calif.

Livermore, Calif. Prime Retail has entered into a development agreement for a $156 million, 120-store outlet mall in Livermore, Calif.

Prime Retail, with 21 outlet malls nationwide, has already signed up Saks Inc. and Neiman Marcus for the new mall to be called Prime Outlets Livermore Valley.

The 42-acre,  470,000-sq.-ft. site is expected to open in 2010.