Premium Outlets Begin Construction of Shisui Premium Outlets

INDIANAPOLIS, April 11, 2012 /PRNewswire/ -- Simon Property Group, Inc. (NYSE: SPG), the world's leading retail real estate company, announced today that, in partnership with Mitsubishi Estate Co., Ltd., it began construction of Shisui Premium Outlets®  (Shisui Town, Inba District, Chiba Prefecture), the ninth Premium Outlet Center® in Japan. 

Phase I, comprising 234,000 square feet of gross leasable area, is scheduled to open in spring 2013 with approximately 100 stores, including international brands, Japanese brands and restaurants.  Simon owns a 40% interest in the project.

The 49-acre site for construction of Shisui Premium Outlets® is situated approximately one mile from the Shisui Interchange (due to open March 2013) on the Higashi-Kanto Expressway, one hour from central Tokyo.  The site is also located 15 minutes from Narita International Airport, Japan's largest international hub airport, which handles approximately 34 million passengers annually.

"We are very excited to announce development of the ninth Premium Outlet Center in Japan," said John R. Klein, president of Simon's Premium Outlets. "This location is well suited to serve Japan's visitor market and complements our other area centers."