Indianapolis — Simon has the following new developments in major growing U.S. markets — Carson, Calif.; Nashville, Tenn.; and Tulsa, Okla. — as well as the expansion of Woodbury Common Premium Outlets in New York.
“We are thrilled to bring these new and compelling projects to serve their markets, and they will provide the quality, variety and value combination that retailers and consumers have come to know and expect from Simon,” says David Simon, chairman, CEO and president of Simon.
North of New York City, Simon is detailing plans for the fifth phase of expansion at its world-famous Woodbury Common Premium Outlets, located in Woodbury, N.Y. The outlet center draws more than 13 million worldwide visitors annually, and houses more than 250 of the greatest names in fashion, all at significant savings. The next phase will include approximately 160,000 square feet of new shops, additional parking, amenities and two hotels. Construction is expected to begin in 2024.
Near Los Angeles, Simon has reached an agreement in principle with the City of Carson and its CRA to resume development on a 400,000-square-foot high-end fashion outlet and value-oriented center, to be located along the I-405 freeway. This high-profile location will serve over 2.5 million residents within 10 miles, and is only 11 miles from LAX airport. This center will complement Simon’s other value-oriented offerings in the greater Los Angeles market, including Desert Hills Premium Outlets, Camarillo Premium Outlets and Outlets at Orange. Work on the 40-acre site is anticipated to begin this year, with an opening targeted for 2024.
In addition, Simon will develop a high-end luxury Premium Outlet, located in the Nashville metropolitan area in partnership with Nashville-based Adventurous Journeys (AJ) Capital Partners. The center will be approximately 300,000 square feet of best-in-class retailers and restaurants, similar to its other world-class outlets, including Woodbury Common Premium Outlets in New York and Desert Hills Premium Outlets in California. The development will be located in the market’s southern high-income area, capitalizing on the region’s growth, and will complement Simon’s existing local properties, The Mall at Green Hills and Opry Mills.
Also, Simon will resume development of Tulsa Premium Outlets, located in Jenks, Okla., off I-75 along Riverside Parkway in 2022. This rapidly growing and thriving market is well-positioned for Simon’s vision of value-oriented shopping and will serve as a regional draw for the entire greater Four-State Area. The center will be approximately 330,000 square feet and feature almost 100 retailers. The grand opening is targeted for 2024.
The global Simon Premium Outlets portfolio has centers in the United States, Puerto Rico, Canada, Japan, Malaysia, Mexico, South Korea and Thailand. Properties include Woodbury Common Premium Outlets, Orlando International Premium Outlets, Desert Hills Premium Outlets, Las Vegas North Premium Outlets and Wrentham Village Premium Outlets.
Adventurous Journeys (AJ) Capital Partners, based in Nashville, Tenn., is an accomplished team of real estate and hospitality professionals who cultivate dynamic communities and timeless assets. For more information, visit www.ajcpt.com.
SOURCE: Simon