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News Release - 6-May-2005
SEATTLE PREMIUM OUTLETSŪ OPENS TO BIG CROWDS
- Simon's Chelsea Division Brings Upscale Outlet Retailing to Washington -
Indianapolis, IN (May 6, 2005) - Simon Property Group, Inc. (NYSE:SPG) announced today that its Chelsea Property Group division has successfully opened Seattle Premium OutletsŪ. The center, located just 30 minutes north of Seattle in the Tulalip Tribes' Quil Ceda Village, drew larger-than-expected crowds to its 100 stores under bright blue skies.
"We had a terrific day," said Michele Rothstein, senior vice president of marketing for Chelsea Property Group. "Initial feedback from stores reported that traffic and sales were strong throughout the day."
The Grand Opening festivities began at 9:00 a.m. (PDT) yesterday with a ceremonial blessing by the Tulalip Tribes and an official ribbon cutting while throngs of shoppers waited for the retailers to open their doors at 10:00 a.m. Opening day confirmed that Seattle Premium Outlets will truly be a regional destination as shoppers came from throughout Washington and Canada. Rothstein added that the Grand Opening celebration continues throughout the weekend.
Seattle Premium Outlets promises to be Washington's most upscale outlet center, featuring retailers such as Adidas, Adrienne Vittadini, Ann Taylor, Banana Republic, Brooks Brothers, Burberry, Calvin Klein, Crabtree & Evelyn, Coach, Gap, Guess, Izod, J.Crew, Le Creuset, Mikasa, Movado, Nike, Polo, Ralph Lauren, Sony, Tommy Hilfiger, and Tumi among others.
Simon Property Group, Inc., headquartered in Indianapolis, Indiana, is a real estate investment trust engaged in the ownership, development and management of retail real estate, primarily regional malls, Premium OutletŪ centers and community/lifestyle shopping centers. The Company's current total market capitalization is approximately $37 billion. Through its subsidiary partnership, it currently owns or has an interest in 297 properties in the United States containing an aggregate of 202 million square feet of gross leasable area in 40 states plus Puerto Rico. Simon also holds interests in 51 European shopping centers in France, Italy, Poland and Portugal; 5 Premium Outlet centers in Japan; one Premium Outlet center in Mexico; and one shopping center in Canada. Additional Simon Property Group information is available at www.simon.com.
SOURCE: Simon Property Group, Inc.
CONTACTS:
| Michele Rothstein (Chelsea) |
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973.228.6111 Media |
| Shelly Doran (Simon) |
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317.685.7330 Investors |
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