Simon Property Group, SmartCentres and Calloway REIT Break Ground on Second Premium Outlets Center in Canada

By Gabriel Circiog, Associate Editor

Montreal—Representatives from Simon Property Group Inc., SmartCentres and Calloway REIT recently held a formal celebration to mark the groundbreaking of the Premium Outlets Montreal, the second Premium Outlet Center in Canada. Calloway is a Canadian real estate investment trust with total assets of approximately $7 billion. The REIT owns and manages approximately 27 million square feet in 121 value-oriented retail centers. SmartCentres is Canada’s largest developer and operator of unenclosed shopping centers with over 47 million square feet developed in 200 shopping centers.

Scheduled to open in the fall of 2014, the first phase of Premium Outlets Montreal will feature over 80 upscale stores within the planned 366,000-square-foot center. The outlet center will feature top designers and brands such as Polo Ralph Lauren, Aldo, Max Mara, DKNY, Sarah Pachini, Rudsak, Nike, Reebok, Rockport, Fossil, Watch Station, Presse Cafe, Sunglass Hut, Tommy Hilfiger, Calvin Klein, Crabtree & Evelyn, Lindt Chocolate and Michael Kors.

After the opening of Simon Calloway’s first outlet center in Canada, Toronto Premium Outlets in August 2013, the new Montreal center will try to follow in its successful footsteps. Located in Mirabel, Quebec, off Highway 15 at exit 28 on the corner of Chemin Notre-Dame and Boulevard de Versailles, the Montreal center aims to create an upscale shopping atmosphere through a contemporary and sophisticated design. The single-level, village-style development will feature pedestrian courtyards outdoors and the design includes features that will provide year-round shopping comfort.

John R. Klein, president of Simon’s Premium Outlets division, says: “We are pleased to partner with SmartCentres and Calloway REIT to bring great outlet shopping to Montreal. Premium Outlets Montreal will feature an outstanding collection of many of the finest brands, offering value, quality and variety all in one convenient location. The project will also create hundreds of new jobs and contribute significant economic development for this area.”

Currently Simon’s Premium Outlets’ portfolio features 81 Premium Outlet Centers including 65 in the United States, nine in Japan, three in South Korea and one each in Canada, Malaysia, Puerto Rico and Mexico.