|
contents | business | |||||||||
| Simon Property expands Gotemba Premium Outlets near Tokyo Simon Property Group, US's largest mall developer, announced that its Chelsea outlet division opened the third phase of Gotemba Premium Outlets, near Tokyo, Japan. The 95,000 square-foot expansion brings the property to a total of 485,000 square feet of gross leasable area (GLA) containing 200 retail and restaurant tenants. The largest outlet center in Japan, Gotemba Premium Outlets is located approximately 60 miles west of Tokyo on the Tomei Expressway, midway between Mount Fuji and the Hakone resort area. Its primary trade area extends from west Tokyo and Yokohama to Shizuoka prefecture, and includes approximately seven million people living within a 90-minute drive. The surrounding Mount Fuji-Hakone region is one of Japan's top tourist destinations, receiving more than 45 million visitors annually. Chelsea Japan Co., Ltd., established in 1999, is a joint venture of Simon Property Group (40% interest), Mitsubishi Estate Co., Ltd. and Sojitz Corporation (each 30%). The joint venture owns and operates six Premium Outlet Centers - containing 1.8 million square feet of GLA and 766 stores - in the Tokyo, Osaka, Kobe, Nagoya and Fukuoka metropolitan markets. A seventh project is under construction near Sendai City (northern Honshu Island), scheduled to open in the fall of 2008; and an eighth is under development in Ami (northeast Tokyo), scheduled to open in 2009. write your comments about the article :: © 2008 Construction News :: home page |