Toronto -- Indianapolis-based Simon Property Group and Calloway Real Estate Investment Trust, Toronto, announced Tuesday that they will launch construction on Canada’s first upscale outlet center on April 25.
The first phase of the planned 500,000-sq.-ft. center will open in summer 2013.
Toronto Premium Outlets is a 50/50 joint venture between Calloway and Simon, and will feature more than 100 upscale outlet stores.
“We already welcome large numbers of Canadian visitors to our centers in the U.S. and look forward to serving these valued shoppers closer to their home. We see tremendous opportunity to introduce our top merchants to the Canadian market,” said John R. Klein, president of Simon’s Premium Outlets division.
Simon Property Group's outlet portfolio comprises 70 Premium Outlet Centers, including 57 in the United States, one in Puerto Rico, eight in Japan, two in Korea and one in Mexico.