CHANDLER, AZ-Simon Property Group Inc. has plans to develop a 360,000-square-foot outlet center here. Dubbed Phoenix Premium Outlets, the project will be located adjacent to the Wild Horse Pass Hotel & Casino in the Wild Horse Development.
Indianapolis-based Simon inked a ground lease with the Gila River Indian Community's Wild Horse Pass Development Authority for 49 acres to build the outlet center. The REIT will have full ownership of the project, which will break ground in first quarter 2012. It has yet to release any financial information regarding Phoenix Premium Outlets including ground lease expenses or construction costs.
“We are excited about the synergies with the Wild Horse Pass Hotel & Casino, a world class destination,” says Michele Rothstein, senior vice president of marketing for Simon’s Premium Outlets brand. The Wild Horse Pass Hotel & Casino is an AAA Four Diamond Award property and features a golf course and spa.
“Shoppers in this market are well acquainted with other centers in the Premium Outlets/Simon portfolio, and we have long had consumer requests for us to come to this market,” Rothstein tells GlobeSt.com. “We believe we will be providing the market with a distinct outlet shopping experience. The market has a strong permanent population base, as well as visitor market with desirable demographics that we look for.”
Slated for a spring 2013 opening, Phoenix Premium Outlets will house 90 outlet stores featuring high-quality designer and name brands. Rothstein says Simon has “significant merchant interest in the project.”
Phoenix Premium Outlets is the second Simon project to be built on an Indian reservation. The REIT’s Seattle Premium Outlets in Tulalip, Wash., is situated on reservation land and is adjacent to the Tulalip Resort & Casino, also a AAA Four Diamond Award property.
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