Indianapolis — Saks Fifth Avenue OFF 5TH will anchor two new centers in development by Simon Property Group, Inc.’s Premium Outlets® division: Phoenix Premium Outlets and St. Louis Premium Outlets.
Phoenix Premium Outlets in Chandler, Ariz., is currently under construction with a spring 2013 opening planned. Phase 1 of the center will be comprised of 360,000 square feet housing approximately 90 outlet stores.
St. Louis Premium Outlets in Chesterfield, Mo., is a part of Chesterfield Blue Valley, a mixed-use development to include office space, hotel, restaurant and entertainment venues. A first phase of approximately 350,000 square feet is projected to open fall 2013. The project is a joint venture with Woodmont Outlets and EWB Development LLC. Simon owns a 60% interest in the project.
There are 34 Saks Fifth Avenue OFF 5TH locations within the Simon portfolio, both in its Premium Outlets and The Mills® divisions. A 28,000-square-foot OFF 5TH will open on June 14, 2012 at the grand opening of Merrimack Premium Outlets, Merrimack, N.H.
Today, there are 61 Saks Fifth Avenue OFF 5TH stores in 23 states. Saks Fifth Avenue OFF 5TH is a part of Saks Incorporated, which also operates 45 Saks Fifth Avenue stores and saks.com.
Simon's Premium Outlets portfolio features 70 Premium Outlet Centers® including 57 in the United States, one in Puerto Rico, eight in Japan, two in Korea, one in Malaysia and one in Mexico. For more information, visit www.simon.com.
SOURCE: Simon Property Group, Inc.