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Roseland-based Chelsea GCA Realty (NYSE: CCG) on Monday said it is changing its name to Chelsea Property Group and its ticker symbol to “CPG”, effective January 1. The name of the company”s primary operating entity, Chelsea GCA Realty Partnership, will also be changed to CPG Partners.

In a statement, Chelsea GCA Realty said the name change is intended to reflect its core business — wholly-owned Premium Outlet centers — together with the increasing diversity of its business initiatives and corporate structure. During the past year, the company has commenced operations in several new areas, including a domestic joint venture with Simon Property Group, a joint venture in Japan — Chelsea Japan, and a new e-commerce infrastructure business, Chelsea Interactive.

David Bloom, the company”s chairman and chief executive officer, said: “The Chelsea GCA name originated from the 1993 merger and IPO of two much smaller and simpler companies. While our branded Premium Outlet centers will remain our primary business for the foreseeable future, changing our name to Chelsea Property Group acknowledges our evolution to being a broader collection of separate but closely related businesses.”

Chelsea Property Group”s stock certificates will continue to bear the same rights and privileges as under the previous corporate name.

Chelsea GCA is a fully integrated, self-administered and self-managed real estate investment trust (REIT) that wholly or partially owns 23 manufacturers” outlet centers, comprising 6.5 million square feet of gross leasable area, in 13 states and Japan.

HOOVER”S ONLINE: Chelsea GCA Realty