New Japan premium outlet underway
The construction of Shisui Premium Outlets, Japan’s ninth premium outlet centre, is underway.
Shisui Premium Outlets, located in Shisui Town, Inba District, Chiba Prefecture, is owned by Simon Property Group, an S&P 100 company based in Indianapolis, Indiana and Mitsubishi Estate Corporation, a real estate developer headquartered in Chiyoda, Tokyo. The shopping centre is located 15 minutes from Narita International Airport and approximately one mile from the Shisui Interchange (due to open March 2013) on the Higashi-Kanto Expressway, one hour from central Tokyo.
Phase I, comprising 234,000 sqft of gross leasable area, is scheduled to open in spring 2013 with approximately 100 stores, including international brands, Japanese brands and restaurants.
Shisui Premium Outlet is the ninth premium outlet centre in Japan after Gotemba Premium Outlets, Sano Premium Outlets, Ami Premium Outlets (Tokyo), Rinku Premium Outlets (Osaka), Kobe-Sanda Premium Outlets (Kobe-Osaka), Sendai-Izumi Premium Outlets (Sendai), Toki Premium Outlets (Nagoya) and Tosu Premium Outlets (Fukuoka).
Simon Property Group’s huge portfolio of real estate includes 57 premium outlets in the US, one in Puerto Rico, one in Mexico, eight in Japan, two in Korea and one in Malaysia.
Commenting on the development of Shisui Premium Outlets, John Klein, president of Simon’s Premium Outlets, said: “This location is well suited to serve Japan’s visitor market and complements our other area centers.”
Simon Property Group owns 40 per cent stake in the premium outlets centre and 60 per cent by Mitsubishi Estate Corporation.