Simon Breaks Ground on Merrimack Premium Outlets®

MERRIMACK, N.H., Sept. 22 /PRNewswire/ -- Simon Property Group, Inc. (NYSE: SPG), the country's largest owner, developer and manager of high quality retail real estate, announced that its Premium Outlets® division held ceremonies today to mark the start of construction of Merrimack Premium Outlets®, an upscale outlet shopping center serving the Greater Boston and Nashua markets.

The center will be located on a 170 acre site in Merrimack off the F.E. Everett Turnpike at exit 10 (Industrial Drive) in Hillsborough County. Phase 1 of the project will be comprised of 380,000 square feet housing approximately 100 outlet stores featuring high-quality designer and name brands. Opening is scheduled for 2012.  

"Merrimack Premium Outlets will bring together an impressive collection of many of the finest brands, offering value, quality and selection all in one convenient location. The Merrimack site is centrally located between Boston, the seacoast and the mountains, providing a great location to serve the area residents and numerous visitors," remarked John R. Klein, CEO of Premium Outlets, Simon. "We are also pleased to begin a new project that is creating hundreds of new jobs and significant economic development for the area."

Simon's outlet 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, Las Vegas 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 263 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.