Chelsea Japan's newest property addition is Tosu Premium Outlets, an 185,000-sf outlet center located 20 miles south of Fukuoka, Japan's fourth largest city and a major tourist destination for the people of Japan. The project is fully leased to more than 100 domestic and international brands and restaurants. Chelsea Japan chairman Leslie Chao says the opening is a milestone in that it brings the joint venture's portfolio to one million sf of lettable area, and that the expansion continues.

In addition to the opening of Tosu Premium Outlets, other projects planned for 2004 include expanding its Sano and Rinku Premium Outlets, and beginning construction near Nagoya for its fifth property, Toki Premium Outlets. In 2003, Chelsea Japan opened the 180,000-sf first phase of Sano Premium Outlets, located 40 miles north of Tokyo, and expanded Gotemba Premium Outlets west of Tokyo from 60,000 sf to 230,000 sf.

The Tosu property is located near the intersection of Kyushu Island's primary north-south and east-west expressways, within 90 minutes of 7.2 million people. Its market area includes the northern part of Saga prefecture, and extends into Fukuoka, Nagasaki, Oita, Kumamoto and Yamaguchi prefectures. Tenants include Adidas, Benetton, Bodum, Brooks Brothers, Callaway Golf, Coach, Cole Haan, Dolce & Gabbana, Guess, Helly Hansen, Lego, Levi's, Nike, Royal Copenhagen, Taylor Made and Timberland.