Simon Property Group, Inc. has announced that its Chelsea Property Group division has opened Toki Premium Outlets(R), a new outlet center serving the greater Nagoya market. The new project is a development of Chelsea´s Tokyo-based joint venture, Chelsea Japan Co.
Toki Premium Outlets´ 178,000 square-foot first phase is fully leased to more than 85 leading U.S. and international designer and upscale brands including Adidas, Bally, Bose, Brooks Brothers, Bruno Magli, Coach, Diesel, Furla, Lacoste, Nautica, Nike, Sketchers, Timberland, Tommy Hilfiger and Versace. There are also six cafes and an eight-restaurant food court. Additionally, Toki Premium Outlets has a Phase II expansion planned for the future.
Toki Premium Outlets is strategically located near the Toki Plasma Research Park, approximately 30 kilometers northeast of central Nagoya at the intersection of the recently completed Tokai Loop Expressway and the Chou Expressway -- a major north-south highway from central Nagoya. Approximately 7.3 million people live within a 50-kilometer drive from the center in an area stretching from Nagoya to Toyota City.
Located in the scenic Central Japan Alps, Toki Premium Outlets´ design motif is loosely based on the look of a Rocky Mountain ski resort, with shopping streets and large plazas. The open-air center also features Maple Court, a 24,700 square foot overlook courtyard with sweeping eastern views.
The opening of the center coincides with the Aichi World Exposition, an international event being held from March 25 to September 25, 2005. It is estimated that the World Exposition will bring an additional 15 million domestic and international visitors to the market.
Mr. Leslie Chao, Chairman of Chelsea Japan, said, 'Toki Premium Outlets joins successful sister properties near Tokyo, Osaka and Fukuoka, and rounds out our presence in the four largest metropolitan markets of Japan. We are confident that its strong location, ambience and tenant mix will make it the dominant outlet shopping destination in Nagoya and the Gifu region. We look forward to a strong start further helped along by the presence of the World Expo.'