Simon's Chelsea Buy Includes Albertville Mall

ALBERTVILLE, MN-An outlet mall here is one of the properties being bought as part of the deal Indianapolis-based Simon Property Group has struck to buy Chelsea Property Group, which now owns the outlet mall.Simon’s $3.5-billion deal this week to buy Chelsea will give it Albertville Premium Outlets, a 300,000-sf outlet mall that is one of Roseland, NJ-based Chelsea’s 35 factory-outlet shopping centers in the US and Japan.

Albertville has about 100 stores, including Banana Republic, Nike, Polo Ralph Lauren, Brooks Brothers, Calvin Klein and Tommy Hilfiger. Aside from its interest in the Mall of America in Bloomington, MN, Simon other Minnesota properties include Maplewood Mall in Maplewood and the Miller Hill Mall in Duluth. Chelsea will be managed as a new division of Simon with the same management team.