Real Estate Development in Online Business Trade Directory

Home » Business » Real Estate and Property » Real Estate Development » Chelsea Property Group

Chelsea Property Group in Online Business Directory

Chelsea Property Group is the world's largest developer, owner and operator of manufacturers' outlet centers. A New York Stock Exchange-listed real estate investment trust from 1993 to 2004, it was acquired by Simon Property Group, Inc. (NYSE: SPG; www.simon.com) for approximately $5 billion in October, 2004. Chelsea operates as a wholly-owned subsidiary of Simon. At December 31, 2006, Chelsea wholly or partially owned 52 Premium Outlet and other shopping centers – containing 17.2 million square feet of gross leasable area – located in 27 states, Japan and Mexico. Its 36 domestic Premium Outlet Centers were 99% leased at year-end and generated same space sales of $471 per square foot during 2006. Chelsea's leading properties in the United States include Woodbury Common Premium Outlets, near New York City; Orlando Premium Outlets, in Orlando, Florida; Wrentham Village Premium Outlets, near Boston; Desert Hills Premium Outlets, near Palm Springs, California; Las Vegas Premium Outlets, in Las Vegas, Nevada; and Chicago Premium Outlets, near Chicago, Illinois. The Company continues to be an active developer of new properties both in the United States and internationally. Chelsea Japan Co., Ltd. – a 40%-owned joint venture established in 1999 – is the leading developer and owner of upscale outlet centers in Japan, with five dominant properties in the Tokyo, Osaka, Nagoya and Fukuoka markets. Premium Outlets de Mexico - a 50%-owned joint venture - opened Mexico's first Premium Outlet Center, in Mexico City, in 2004. Shinsegae Chelsea Co., Ltd. - a 50%-owned joint venture - opened the first Premium Outlet Center in Korea, near Seoul, June 1, 2007.

Address: 105 Eisenhower Parkway Roseland, New Jersey 07068
Telephone: (973) 228-6111
Website: http://www.cpgi.com