Simon Expands and Rebrands Las Vegas Outlet Center as Las Vegas Premium Outlets® - South

LAS VEGAS, March 16, 2011 /PRNewswire/ -- Simon Property Group, Inc. (NYSE: SPG) announced today that Las Vegas Outlet Center, located on the south end of Las Vegas Boulevard, will open a major expansion tomorrow, March 17.  The expansion adds 13 new stores and approximately 70,000 square-feet of gross leasable area (GLA) bringing the center to more than 140 stores for a total of 535,000 square feet. With this expansion, the center is being renamed Las Vegas Premium Outlets® - South. The center was also recently renovated, receiving a complete external makeover with significant interior improvements as well.

The expansion includes the opening of: Guess, New Balance, True Religion and Under Armour. Loft Outlet, Michael Kors and Coach Men's will open in April. Several stores will relocate to larger spaces within the expansion including: Bose, Coach, Fossil, Reebok and Rockport.  The center has also expanded its parking lot along with upgrading the interior lighting with high-efficiency compact fluorescent fixtures, which lowers the center's energy usage and overall carbon footprint. In addition, the center's two food courts received a wall-to-wall remodel for a more pleasant overall shopping experience.  

"We are pleased to be expanding Las Vegas Premium Outlets - South not only to fulfill merchant demand for space, but also to satisfy shoppers' desire to have an even greater selection of brands at impressive savings," said John R. Klein, president of Premium Outlets, the outlet division of Simon Property Group.  In addition to the jobs created during construction, this expansion is adding over 100 new retail jobs to the community.  The rebranding of the center to Premium Outlets will better communicate the quality of the merchant mix to the center's diverse shopper base which includes visitors from around the world.  "The center offers the shopping environment and stores that customers have come to expect from Premium Outlets," noted Klein.

Since opening in 1993, the now named Las Vegas Premium Outlets – South, has been a popular shopping destination for area residents and visitors by offering savings of 25% to 65% every day  on an impressive list of leading brands. The center was purchased by Simon Property Group in 2003 and since that time, the merchant mix has been enhanced by the addition of fashion brands such as Coach, DKNY, Esprit and Kenneth Cole. Other high quality outlet stores include Adidas, Aeropostale, Ann Taylor, Calvin Klein, Converse, Gymboree, Hurley, Nautica, Nike, O'Neill, Perry Ellis, Timberland, Tommy Hilfiger, VF Outlet, Volcom, Zales Outlet and more.

Las Vegas Premium Outlets - South is located on the south end of Las Vegas Boulevard with access off Interstate 15 via the Blue Diamond Interchange near McCarran International Airport.

Its sister center, located at the gateway of Downtown Las Vegas at the Charleston Blvd. exit off Interstate 15, will also be renamed Las Vegas Premium Outlets® - North.  This center, which expanded in 2009 to 150 stores, is located on South Grand Central Parkway. Stores include A|X Armani Exchange, Ann Taylor, Burberry, Cole Haan, David Yurman, Diesel, Dolce & Gabbana, Dooney & Bourke, Elie Tahari, Kate Spade, Kenneth Cole, Lacoste, Polo Ralph Lauren, St. John, TAG Heuer and Theory.

The Premium Outlets portfolio includes 68 Premium Outlet Centers® including 57 in the United States, one in Puerto Rico, eight 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 visitor markets such as Orlando and Palm Springs.

About Simon Property Group

Simon Property Group, Inc. is an S&P 500 company and the largest real estate company in the U.S. The Company currently owns or has an interest in 393 retail real estate properties comprising 264 million square feet of gross leasable area in North America, Europe and Asia. Simon Property Group is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. The Company's common stock is publicly traded on the NYSE under the symbol SPG. For further information, visit the Simon Property Group website at www.simon.com.

SOURCE Simon Property Group, Inc.