REAL ESTATE

Toronto Premium Outlets to break ground in April

BY Katherine Boccaccio

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.

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OPERATIONS

Container Store to implement Alliance database marketing

BY Katherine Boccaccio

Dallas — The Container Store said Tuesday it has enlisted Epsilon, a subsidiary of marketing solution-provider Alliance Data Systems Corp., for comprehensive data and database marketing services.

The services are designed to fuel marketing efforts to acquire and retain customers and increase sales.

Under the terms of the new multiyear agreement, Epsilon will host and manage The Container Store’s marketing database supporting the company’s communications with its customers through permission-based email, direct mail and social media channels. In addition, Epsilon will provide strategic consulting and advanced analytics to create customer segmentation models based on specific criteria and behaviors to better identify and target customers with useful information and offers.

“As we continue to expand, it’s increasingly important to nurture our existing customer relationships, develop new loyal customers and improve the quality of these interactions,” said Lucy Witte, VP direct marketing and media, The Container Store. “Partnering with Epsilon will help us create more valuable relationships, target customers and prospects effectively and drive repeat visits and purchases. These initiatives will also enable us to speak to our customers in the way that they want to be spoken to.”

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REAL ESTATE

Simon and BRMALLS sign agreement to develop outlet centers in Brazil

BY Katherine Boccaccio

Rio de Janeiro, Brazil — Indianapolis-based Simon Property Group and Latin American retail real estate company BR Malls Participacoes S.A. announced Tuesday that they signed a 50/50 joint venture agreement to develop and own outlet centers in Brazil.

The first outlet center of the joint venture is slated to open in Sao Paulo in 2013.

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