Chelsea, which is headquartered in Roseland, NJ, isIndianapolis-based Simon Property Group's division for upscaleoutlet shopping centers, and this is Chelsea's 45th such center. ASimon spokesman tells the total cost is $147 million,with $119 million for the initial phase and an additional $28million for the expansion. Scheduled to open in spring 2008, phasetwo will add approximately 30 more stores to the 120 retailersalready in place.

The first phase opens 97% leased. Among the tenants are Adidas,Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach,DKNY Jeans, Elie Tahari, Gap Outlet, Guess, J. Crew, Michael Kors,Neiman Marcus Last Call, Nike, Puma, Sony, Tommy Hilfiger andWaterford Wedgwood.

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