Simon Transforms Global Retail With A $4.0B Investment To Create Experiential Destinations Of The Future
INDIANAPOLIS, May 16, 2018 /PRNewswire/ — Simon, a global leader in premier shopping, dining, entertainment and mixed-use destinations, has launched a $4.0+ billion plan to create innovative, new lifestyle experiences across multiple Simon properties including malls, Premium Outlets®, and Mills®.
“The world of retail is ever-changing, and Simon is thriving,” notes David Simon, Chairman and Chief Executive Officer of Simon Property Group. “As a global leader, we focus on what’s new, now and next, investing in destinations that generate excitement, discovery, and build strong communities.”
Key highlights from Simon’s transformational projects include:
- Phipps Plaza – Buckhead (Atlanta), Georgia
As a perfect example of Simon’s commitment to creating world-class experiential destinations, Phipps Plaza is undergoing a transformational development that includes both a boutique hotel and a restaurant from the modern luxury brand Nobu. Additionally, a LifeTime® wellness center, a unique curated dining experience, and a Class-A office building will join 100+ leading brands, an AMC 14 Theatre, AC Hotel by Marriott and a 319-unit residential building to reinforce Phipps Plaza’s reputation as one of the country’s most exciting lifestyle destinations, perfectly attuned to the needs and behaviors of the modern shopper.
- King of Prussia® – King of Prussia (Greater Philadelphia), Pennsylvania
The largest jewel in Simon’s crown, this iconic shopping mecca is a paradigm for experiential and lifestyle transformation. With three million square feet of selling space, 450 stores, and a grand, new ultra-luxury corridor, King of Prussia’s spectacular offering will be further enhanced by a striking outdoor plaza, residences, a hotel and Class A office building.
- Denver Premium Outlets® – Thornton, Colorado
This fall Simon will bring the most sought-after brands to the booming Denver market in a way that’s never been seen before with the opening of its newest Premium Outlets center. With an elegantly designed outdoor village, spacious courtyards and stunning Rocky Mountain views, Simon is creating a high-design, sophisticated environment to leverage the natural beauty of the area and appeal to the outdoor lifestyle of both locals and tourists, while offering an exceptional array of world-class shopping.
- Sawgrass Mills®
The Colonnade Outlets at Sawgrass Mills® – Sunrise, Florida
With 350 stores and 70+ luxury boutiques, Simon’s South Florida flagship is expanding across multiple fronts. In addition to the new open-air Oasis offering 14 restaurants – a full interior renovation, retail expansion, hotel and restaurant additions, and a new parking deck, combine to reinforce the center’s iconic status among shoppers the world over.
Simon is reinventing the traditional food experience by launching “Savor” at The Westchester and King of Prussia to introduce elevated, new-to-market dining concepts such as Shake Shack, Sweetgreen, Little Beet, Mighty Quinn’s and Juice Generation to satisfy the evolving tastes of shoppers and position Simon centers as dining destinations in their own right.
- The Edit@Roosevelt Field – Long Island, NY
To meet the growing desire for new brand experiences among millennial-minded shoppers, Simon introduced a revolutionary retail model at its powerhouse destination in the metro New York area. The Edit@Roosevelt Field is a curated, design-driven, multi-brand platform that enables both emerging and established brands (including Koio, Winky Lux, Beltology, Vitaly, and Rhone among others) to expand their physical footprint in a low barrier-to-entry manner and bring new merchandise to the physical marketplace faster than ever.
- Digitally Native + Experiential Retailing
Simon is witnessing a significant influx of previously pure-play E-tailers, including Casper, UNTUCKit, Bonobos, and Blue Nile, looking to bring their brands to life in new and innovative ways at Simon centers – in addition to popular fitness and beauty brands such as Peloton and Drybar. According to Eric Sadi, Executive Vice President of Leasing, “The experiential concepts provide something new and exciting for customers who then cross-shop other retailers even more than before as we’re providing a holistic experience where they can spend the day with us.”
David Simon reinforces the commitment to cutting-edge innovation by stating, “We’re a company of experiences and therefore perfectly positioned to capture the hearts, minds and imaginations of our shoppers with new, exciting and dynamic ways to live, work, play, stay and shop at Simon.”
Learn more about what’s new, now, and next:
Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe, and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
For more information, visit simon.com.