Chelsea Property Group, previously a New York Stock Exchange-listed company, was acquired by Simon Property Group in October 2004, and continues to operate from its headquarters in Roseland, New Jersey as a division of Simon.
Chelsea is the world's largest owner, developer and operator of upscale outlet centers. Its portfolio includes 46 Premium Outlet Centers® including 38 in the United States, six in Japan, one in Korea and one in Mexico. Premium Outlet Centers in the United States are located primarily in or near major metropolitan markets such as New York, Los Angeles, Boston and Chicago, and tourist markets such as Orlando, Las Vegas and Palm Springs. Its domestic Premium Outlet Centers were 99% leased at year-end and generated same space sales of $504 per square foot during 2007. Similarly, in Japan, centers are located in the major markets of Tokyo, Osaka, Nagoya, Fukuoka and Kobe. Yeoju Premium Outlets is located southeast of Seoul, Korea.
In the U.S., Houston Premium Outlets opened in March 2008 and Jersey Shore Premium Outlets is scheduled to open in November 2008. In Japan, Sendai-Izumi Premium Outlets is planned to open in fall 2008.
Additional information on Chelsea properties may be found at www.cpgi.com