Fact Sheet
CENTER NAME:Twin Cities Premium Outlets®
LOCATION:Intersection of Highway 13 and Highway 77 in Eagan, Minn.
GRAND OPENING:August 14, 2014
DESCRIPTION:Residents and visitors to the Minneapolis-St. Paul area will soon be treated to their own Premium Outlet Center®. Savvy shoppers will be able to buy direct from an impressive collection of fashion designers and name brand manufacturers. Twin Cities Premium Outlets® will house more than100 outlet stores offering everyday savings of 25 to 65 percent. By selling direct to the public, leading manufacturers offer substantial values on in-season and first-quality merchandise. The center will offer a mix of product categories including apparel and shoes, fashion accessories, leather goods, home furnishings and specialty.
SIZE:409,000 square feet of gross leasable area
MERCHANTS:The center will feature Asics, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Cole Haan, Converse, Crabtree & Evelyn, Gap Outlet, J. Crew Factory Store, Janie and Jack, Johnston & Murphy, Michael Kors, Movado Company Store, Nike, Polo Ralph Lauren, Puma, Talbots, Tommy Hilfiger, Torrid, True Religion, White House | Black Market, Wilsons Leather and Saks Fifth Avenue Off 5th.In total, over 100 high-quality outlet stores will be located at Twin Cities Premium Outlets.
FEATURES:The center will feature a racetrack design for easy access between stores. Shoppers will enjoy a beautiful food pavilion with indoor/outdoor seating and a two-sided fireplace, pluscovered walkways for all-season shopping.
ECONOMIC IMPACT:JOBS: During construction, thisprojectwill generate more than 400 construction jobs. Upon opening, the center will provide more than 1,600 permanent and part-time jobs.
DEVELOPERS:Twin Cities Premium Outlets® is a 65/35 joint venture between Paragon Outlet Partners and Simon Property Group (NYSE: SPG). Paragon Outlet Partners is the majority owner and the center will be managed by Simon.
ABOUT PARAGON
OUTLET PARTNERS:
Headquartered in Baltimore, Paragon Outlet Partners is a commercial real estate development firm operated by a seasoned team of former Prime Retail executives. The company’s upscale merchant portfolio includes top designer and leading brand names Saks Fifth Avenue Off 5th, Last Call by Neiman Marcus, Bloomingdale’s The Outlet Store, Barney’s New York Outlet, Coach Factory, Michael Kors, Banana Republic, GAP, Nike Factory Store and Tommy Hilfiger, among many more. Its parent company, The Lightstone Group, is one of the largest privately held real estate companies in the U.S. with a diversified portfolio of retail, hospitality, office, industrial and residential real estate assets, including more than 8.1 million square feet of commercial space and more than 11,000 multi-family units in 19 states.
ABOUT PREMIUM
OUTLETS:Simon’s Premium Outlets® portfolio features 81 Premium Outlet Centers® including 65 in the United States, one in Puerto Rico, nine in Japan, three in South Korea, and one each in Canada, Malaysia and 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. Leading properties include Woodbury Common Premium Outlets (near New York City), Orlando Premium Outlets (Florida), Desert Hills Premium Outlets (Palm Springs, California) and Las Vegas Premium Outlets (Nevada).
ABOUT SIMON
PROPERTY GROUP:Simon Property Group, Inc. (NYSE: SPG) is a S&P 100 company and a global leader in the retail real estate industry. We currently own or have an interest in more than 325 retail real estate properties in North America, Asia and Europe comprising approximately 242 million square feet. We are headquartered in Indianapolis, Indiana and employ approximately 5,500 people in the U.S. For more information, visit simon.com.
ARCHITECTS:Dalpos Architects and Integrators
CIVIL ENGINEERS: Alliant Engineering, Inc.
CONTRACTORS:Ryan Companies US, Inc.
PRESS INQUIRIES: Allison Dent
Nike Communications
Direct: 646.654.3407
Cell: 612.655.2212
Chelsea McAnally
Nike Communications
Direct: 646.654.3434
Cell: 214.533.0419