- Simon Property Group, Inc., and Taubman Centers, Inc. are each moving ahead with efforts to sign tenants for and build outlet malls three miles apart in Chesterfield, Mo.
- Simon Property is working on St. Louis Premium Outlet, a 350,000-square-foot project. Taubman's project is Prestige Outlets Chesterfield at 450,000 square feet.
- "Look, I think it's crazy for both of those outlet centers to be built," Stephen Lebovitz told The Wall Street Journal. CBL & Associates Properties Inc., of which he is president and CEO, owns the traditional, full-price Chesterfield Mall a few miles away. The St. Louis suburb also has the longest outdoor strip mall in America, Chesterfield Commons.
From the article:
Two of the country's largest mall developers are playing a game of chicken in Missouri that illustrates how hungry they are for new projects in the burgeoning outlet-center business. ...