simon property group, inc. 10 addition of Maggiano’s were completed in   ; the addition of Nordstrom  and   ,   square feet of small shops and the expansion of Hecht’s will be  completed in   . In the third quarter of   , Galyan’s, small shops, a  food court and two restaurants will open in space created by the demolition  of a former Sears building. This premier asset generates sales in excess of  $   per square foot. We have several expansion and/or renovation projects currently under  construction, the most significant of which is the Phase III expansion of The  Forum Shops at Caesars. This   ,   square foot expansion will encompass  three levels immediately adjacent to Las Vegas Boulevard. Phase III provides  the additional space required for new restaurants and one-of-a-kind luxury  brand tenants such as Donald Pliner, Agent Provocateur, Harry Winston,  Chrome Hearts, Il Mulino and Sushi Roku. Louis Vuitton and Christian  Dior, two top international luxury brands, have also committed to major  expansions, reinforcing The Forum Shops as the leading fashion retail and  restaurant location, not only in Las Vegas, but in the country. Throughout   , we added anchors such as Bloomingdale’s, Dillard’s,  Foley’s, Saks Fifth Avenue, Dick’s Sporting Goods, Galyan’s and Kohl’s  throughout the portfolio. We also anticipate significant anchor openings in    and    by Nordstrom, Neiman Marcus, Dillard’s, Foley’s, Target and  Dick’s Sporting Goods.  Our expenditures for redevelopment activities are expected to approximate  $   million in   . DISPOSITION ACTIVITIES W e also improved the quality of our asset portfolio in    through the  selective disposition of non-core assets. We sold thirteen properties  (one mixed-use property, seven malls, and five community shopping centers),  generating total net proceeds of approximately $   million and a net gain of  $   million. These dispositions generated capital used to invest in higher-quality,  higher-growth assets such as Stanford Shopping Center, the Kravco portfolio  and our new development pipeline. While this is an integral part of our long- term strategy and will improve future earnings growth, these dispositions were  dilutive to earnings by approximately $  .   per share in   . NEW PROJECTS  We opened one new project in   . Las Vegas Premium Outlets, a   /  joint venture project developed  by Simon and Chelsea Property Group, opened on August   ,   . Las Vegas  Premium Outlets is a   ,   square-foot, single-phase upscale manufacturers’  outlet center located between Grand Central Parkway and Interstate   , near  the intersection of U.S. Route   . The center features tenants such as A/X  Armani Exchange, Coach, Dolce & Gabbana, Elie Tahari, Kenneth Cole, Liz  Claiborne, Nike and Polo Ralph Lauren. Chicago Premium Outlets, another   /   joint venture with Chelsea  Property Group, is currently under construction approximately    miles west  of downtown Chicago on the East-West Tollway in Aurora, Illinois. Similar  to Las Vegas Premium Outlets, it is an upscale manufacturers’ outlet shopping  Redevelopment Completed several high-profile redevelopment projects • Started  construction on the Phase III expansion of The Forum Shops at Caesars Regional Mall  Comparable Sales (per square foot) $383 $391 $402 Regional Mall Average Base Rents (per square foot) 0 1 0 2 0 3 $29.28 $30.70 $32.26 0 1 0 2 0 3