Simon Property Group, Inc. (ticker: SPG, exchange: New York Stock Exchange (.N))
News Release -
Barneys Opening Flagship at Simon's Copley Place
- 46,000 Square Foot Store to Debut in Spring of 2006 -
INDIANAPOLIS, April 14 /PRNewswire-FirstCall/ -- Simon Property Group,
Inc. (NYSE: SPG), America's largest owner, developer and manager of high
quality retail real estate announced today that Barneys New York will open a
flagship store at its Copley Place in Boston, Massachusetts. The two-level,
46,000 square foot store is scheduled to open in the spring of 2006. It
represents Barneys New York's first new flagship store in over 11 years.
Allen Kaplan, senior vice president of leasing at Simon said, "We're
thrilled that Barneys is going to locate a flagship store at Copley Place.
Their arrival reinforces Copley Place as the premier luxury shopping
destination in the Boston market." Copley Place is one of the nation's most
productive malls with sales per square foot of $800.
Simon also announced today that Barneys agreed to extend its lease for its
store at The Mall at Chestnut Hill in Newton, MA. Barneys has operated at
that location since 1989 in a 6,200 square foot store.
Simon Property Group, Inc., headquartered in Indianapolis, Indiana, is a
real estate investment trust engaged in the ownership, development and
management of retail real estate, primarily regional malls, Premium Outlet(R)
centers and community shopping centers. The Company's current total market
capitalization is approximately $36 billion. Through its subsidiary
partnerships, it currently owns or has an interest in 296 properties in the
United States containing an aggregate of 203 million square feet of gross
leasable area in 40 states plus Puerto Rico. Simon also holds interests in 51
European shopping centers in France, Italy, Poland and Portugal; 5 Premium
Outlet(R) centers in Japan; one Premium Outlet(R) center in Mexico; and one
shopping center in Canada. Additional Simon Property Group information is
available at http://www.simon.com .
SOURCE Simon Property Group, Inc.
/CONTACT: Les Morris of Simon Property Group, +1-317-263-7711/
/Web site: http://www.simon.com /