Tuesday, June 26, 2012

St. Louis Premium Outlets Groundbreaking on July 11, 2012

Merchants Announced for New Upscale Outlet Center
INDIANAPOLIS, June 26, 2012 /PRNewswire/ -- Simon Property Group, Inc., (NYSE: SPG), the world's leading retail real estate company, and Woodmont Outlets announced today that construction on St. Louis Premium Outlets® will begin on July 11, 2012.  The project is a joint venture with Woodmont Outlets.  Simon owns a 60% interest in the project.

St. Louis Premium Outlets in Chesterfield, Missouri is a part of Chesterfield Blue Valley, a mixed-use development to include office space, hotel, restaurant and entertainment venues. Located on the south side of I-64/US Highway 40 east of the Daniel Boone Bridge, the center's first phase of 350,000 square feet and 85 stores will open in the fall of 2013. 

The new outlet center will be anchored by Saks Fifth Avenue OFF 5TH, one of seven new store locations recently announced.  "We are excited to grow our OFF 5TH store portfolio with Simon.  We believe these locations are well suited for us to deliver our distinct merchandise offerings to area residents and visitors," stated Robert Wallstrom, President of Saks Fifth Avenue OFF 5TH.

The center will feature an impressive collection of leading designer and name brands selling direct to consumers at significant savings in a sophisticated outdoor village setting. Some of the top fashion and accessories brands include Ann Taylor, Brooks Brothers, Elie Tahari, Haggar Clothing Co., Jones New York, Loft Outlet, Maidenform, Tommy Hilfiger, Van Heusen and many others. Due to high interest in the merchant community, St. Louis Premium Outlets is currently over 60% committed.

"We are excited to bring many of the finest retailers and brands to the area offering incredible value," commented John R. Klein, President of Simon's Premium Outlets platform. "We look forward to having this project, our merchants and the community benefit from our regional, national and international outreach."

The center will offer something for all members of the family. Shoppers will be able to choose from a wide range of footwear and sportswear brands including Asics, Clarks Bostonian, Easy Spirit, Famous Footwear, Finish Line, Fox Racing, Hot Topic, Izod, Naturalizer, Nine West, Skechers and Under Armour.  The mix of stores will feature popular children's brands such as Hartstrings; an excellent selection of women's sizes at Lane Bryant; jewelry stores like Kay Jewelers; and stores that offer home furnishings and great gifts including Yankee Candle.

"In addition to providing shoppers with an incredible shopping experience, the project will create an estimated 700 new retail jobs as well as over 1,000 local construction jobs over the next year," said Stephen Coslik, Chairman and CEO of Woodmont Outlets, an affiliate of The Woodmont Company.
  "We look forward to the center becoming a source of pride for the community."

SOURCE Simon Property Group, Inc.

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