SPG Gets Premium Japan Property – Analyst Blog
Source: http://www.zacks.com/stock/news/22084/SPG+Gets+Premium+Japan+Property+-+Analyst+BlogPosted on Friday, July 10th, 2009 | In Market Commentary, Stocks to Watch
Simon Property Group, Inc. (SPG), the largest publicly traded retail real estate company in North America, has recently opened a premium outlet in Japan. The outlet has been developed by a JV called Chelsea Japan Co. Ltd., in which Simon Property has 40% stake. The remaining 60% of the JV is owned by Mitsubishi Estate Co. Ltd., the second largest real estate developer in Japan.
Currently only Phase I of the outlet, known as Ami Premium Outlet, spanning 225,000 square feet of gross leasable area, has been opened to the general public. Ami Premium Outlet is the eighth outlet of the JV in Japan, the others being Gotemba Premium Outlets and Sano Premium Outlets (both serving Tokyo), Rinku Premium Outlets (Osaka), Kobe-Sanda Premium Outlets (Kobe-Osaka), Sendai-Izumi Premium Outlets (Sendai), Toki Premium Outlets (Nagoya) and Tosu Premium Outlets (Fukuoka).
Ami Premium Outlet is strategically located in the close proximity of Ami-Higashi interchange on the Ken-O Expressway (Metropolitan Inter-City Expressway) and Narita International Airport. The outlet is presently leased to leading shopping brands like Adidas, Beams, Coach, Diesel, Fauchon, Ray Ban, Tommy Hilfiger, True Religion and Viaggio Blu.
With a current equity market cap of $11.8 billion, Simon Property is by far the largest publicly traded regional mall company in the US. Its largest competitors are Taubman Centers Inc. (TCO) and Macerich Co. (MAC) with equity market caps of about $1.22 billion and $1.14 billion respectively. Simon Property’s international presence gives it a more compelling long-term growth story than its domestically focused peers. We reiterate our Buy rating of the company.
Read the full analyst report on “SPG”
Read the full analyst report on “TCO”
Read the full analyst report on “MAC”
Zacks Investment Research
Last 5 posts by Zacks Market Commentaries
- Company News for November 25, 2009 - Corporate Summary - November 25th, 2009
- Stock Market News for November 25, 2009 - Market News - November 25th, 2009
- Manulife Buys Stake, Raises Equity - Analyst Blog - November 25th, 2009
- NCR Rolls Out New Products - Analyst Blog - November 25th, 2009
- Zacks Bull and Bear of the Day Highlights: MEMC Electronic Materials, Inc., Energy Transfer Partners, Ford, Whirlpool and Wal-Mart - Press Releases - November 25th, 2009
Ami Premium Outlet, Chelsea Japan Co. Ltd., Coach, Diesel, Fukuoka, Inter-City Expressway, Izumi Premium Outlets (Sendai), Japan, Ken-O Expressway, Kobe, Macerich Co, Market Commentary, Mitsubishi Estate Co. Ltd., Narita International Airport, North America, Osaka, Ray Ban, Real Estate Developer, retail real estate, Rinku Premium Outlets, Sendai-Izumi Premium Outlets, Simon Property Group Inc., Stocks to Watch, Taubman Centers Inc., The Macro Trader, Toki Premium Outlets (Nagoya), Tokyo, Tommy Hilfiger, Tosu Premium Outlets, True Religion, United States, USD, Viaggio Blu, Zacks Market Commentaries
 About Zacks Market Commentaries (http://www.zacks.com/)
Zacks Market Commentaries |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.