Simon Breaks Ground on Cincinnati Premium Outlets(R)
MONROE, Ohio, June 25 /PRNewswire-FirstCall/ -- Simon Property Group, Inc.
(NYSE: SPG), the country's largest owner, developer and manager of high
quality retail real estate announced that its Chelsea outlet division held
ceremonies today to mark the start of construction of Cincinnati Premium
Outlets(R), a 400,000 square-foot upscale outlet shopping center serving the
greater Cincinnati market.
The center will be located on a 117-acre site in Monroe, north of
Cincinnati, off Interstate 75 at exit 29 (Ohio 63) in Warren County. It will
comprise 120 outlet stores featuring high-quality designer and name brands
similar in mix to other Chelsea properties. Opening is scheduled for the
summer of 2009.
John R. Klein, co-president of Chelsea, said, Cincinnati Premium Outlets
will satisfy a need in the Cincinnati market, which does not currently have an
equivalent upscale outlet center. We look forward to bringing together an
impressive collection of designers and brands that will offer great value,
quality and selection. We are also pleased to be creating an estimated
800-plus new jobs and significant economic development for the area.
Chelsea is the world leader in upscale outlet shopping, with 47 Premium
Outlet Centers -- containing 18.1 million square feet of gross leasable area
-- located in 22 states, Japan, Korea and Mexico. See www.premiumoutlets.com
for more information.
About Simon Property Group
Simon Property Group, Inc. is an S&P 500 company and the largest public
U.S. real estate company. Simon is a fully integrated real estate company
which operates from five retail real estate platforms: regional malls, Premium
Outlet Centers(R), The Mills(R), community/lifestyle centers and international
properties. It currently owns or has an interest in 383 properties comprising
261 million square feet of gross leasable area in North America, Europe and
Asia. The Company is headquartered in Indianapolis, Indiana and employs more
than 5,000 people worldwide. Simon Property Group, Inc. is publicly traded on
the NYSE under the symbol SPG. For further information, visit the Company's
website at www.simon.com
SOURCE Simon Property Group, Inc.
/CONTACT: Michele Rothstein, Chelsea Property Group, +1-973-228-6111,
firstname.lastname@example.org; or Les Morris, Simon Property Group,
+1-317-263-7711, email@example.com /