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Neiman Marcus to Expand at Lenox Square
- Simon Property Group Also Announces 35,000 Square Foot Addition to Iconic
Atlanta Property -
INDIANAPOLIS, April 14 /PRNewswire-FirstCall/ -- Simon Property Group, Inc.
(NYSE:SPG) announced two significant expansions at Lenox Square, its extremely
successful mall located in the Buckhead section of Atlanta. Neiman Marcus will
add 52,000 square feet to its existing 153,722 square foot store.
In addition, 35,000 square feet of small shops will be added in an upper- level
expansion of Lenox Square. Both projects will be complete in the fall of 2007
and both the mall and Neiman Marcus will be open during the construction.
Preliminary work on the Neiman Marcus expansion, which will occur on all three
levels of the store, will begin in the fall of 2006. The Lenox Square location
represents Neiman Marcus' only store in the metropolitan Atlanta area.
"Neiman Marcus' expansion at Lenox Square reinforces Atlanta's strong appeal
towards fashion and luxury goods," said Richard S. Sokolov, president and chief
operating officer of Simon. "Neiman's success and desire to have a larger
presence in Buckhead will further solidify this market place and provide more
luxury goods to our consumers."
The mall expansion will add a second level of small shops to the existing
one-level mall in the Neiman Marcus wing. This new second level of small shops
will connect the mall to the expanded Neiman Marcus store.
Wayne Hussey, senior vice president of properties and new store development at
Neiman Marcus said, "We are very pleased to be able to have this opportunity to
expand and renovate our store in Lenox Square. The Buckhead area, and
particularly Lenox Square, has continued to gain strength as the fashion
destination for Atlanta. We are excited to have the opportunity to increase
the distinctive merchandise assortment for the Neiman Marcus customer."
"Our properties in Buckhead (Lenox Square and the nearby Phipps Plaza) continue
to attract great national and international brands, making our shopping
experience at both locations extraordinary," Sokolov said. Bloomingdale's and
Macy's join Neiman Marcus as the other anchors at Lenox Square.
Simon Property Group, Inc., headquartered in Indianapolis, Indiana, is a real
estate investment trust engaged in the ownership, development and management of
retail real estate, primarily regional malls, Premium Outlet(R) centers and
community shopping centers. The Company's current total market capitalization
is approximately $36 billion. Through its subsidiary partnerships, it
currently owns or has an interest in 296 properties in the United States
containing an aggregate of 203 million square feet of gross leasable area in 40
states plus Puerto Rico. Simon also holds interests in 51 European shopping
centers in France, Italy, Poland and Portugal; 5 Premium Outlet centers in
Japan; one Premium Outlet center in Mexico; and one shopping center in Canada.
Additional Simon Property Group information is available at
http://www.simon.com/ .
The Neiman Marcus Group, Inc. (NYSE:NMG.ANYSE:NMG.B) operations include the
Specialty Retail Stores segment and the Direct Marketing segment. The
Specialty Retail Stores segment consists primarily of Neiman Marcus and
Bergdorf Goodman stores. The Direct Marketing segment conducts both print
catalog and online operations under the Neiman Marcus, Horchow and Bergdorf
Goodman brand names. Information about the Company can be accessed at
http://www.neimanmarcusgroup.com/ .
DATASOURCE: Simon Property Group, Inc.
CONTACT: Les Morris of Simon Property Group, +1-317-263-7711
Web site: http://www.simon.com/
http://www.neimanmarcusgroup.com/