Find in the news:
BY COUNTRY

Restaurants And Online Retailers On Simon’s Wishlist



Simon Property Group provided a peek behind the curtain in a recent earnings call.
The world’s largest mall owner saw a slight dip in occupancy in the second quarter compared to last year, but asking rents saw a nice bounce over the same time period. More importantly, the property behemoth offered up some information on the types of tenants they are on the lookout for. 

Similar to the investing world in which investors wait with bated breath to hear what the next move up the sleeve of Warren Buffett is, property owners and landlords would be wise to be mindful of Simon’s future plans. According to the Indianapolis Business Journal, there are two types of tenants that Simon is on the lookout for: restaurants and online retailers.   

On the restaurant side, Simon executives revealed that the company has added 200 restaurants to rent rolls over the past five years - and it’s far from finished. 

“The restaurant demand is great,” shared CEO David Simon. 

“We are continuing to very much focus on restaurants throughout the portfolio,” added President and COO Richard Sokolov. 

The focus on restaurants ties in with a problem that is faced by landlords and property owners across the nation. What do we do with all this space that’s been vacated by traditional retailers? Enter restaurants, which still manage to draw people from their homes. Numerous malls have even taken the step of splitting up space to accommodate several restaurants in space that was previously occupied by department stores. 

Simon is also on the lookout for online retailers that are looking to expand their physical presence. The theory for the retailers is that having a brick-and-mortar presence will actually help to increase online sales, while landlords and owners benefit from the boost in foot traffic from curious customers that want to physically visit the internet brands they know and love. That scenario creates a win-win situation, and Simon is all over it. 

“We’re working with, frankly, scores of them. It’s certainly going to be a source of growth for us going forward in the years ahead,” Sokolov said. 

The company also touched on some of its larger expansion and redevelopment projects in the pipeline, including Jersey Gardens in Elizabeth, New Jersey, and Sawgrass Mills in Sunrise, Florida.

Sawgrass Mills

“We’re very comfortable and confident, even though retail sales have been anemic this year … I don’t think we are backing off at all our redevelopment and expansion portfolio,” shared Simon.

Related shopping malls and stores:

More about shopping malls in the USA



YESTERDAY, Spain:
The new Skechers store will have a total area of 774 sq. meters.
YESTERDAY, Mexico:
The retail space is located in Centro Comercial Perisur, one of the largest shopping mall in Mexico City.
DAY BEFORE YESTERDAY:
The spaces, designed in Hermès colors, will appear in Paris, Tokyo, New York and other cities around the world.
Oct 3, 2022, USA:
The iconic store will close after 14 years of operation.
Oct 3, 2022, Italy:
The automaker plans to open stores in the new concept in the world's major metropolitan cities.
Oct 1, 2022, Spain:
The new store on Paseo de Gracia reflects the brand's British style
Friend
and Follow
Mall of Tripla GLA:914 932 SF
ADDRESS: Veturitie 13
Finland . Helsinki
Mall of Tripla
Olympia Einkaufszentrum GLA:602 779 SF
ADDRESS: Hanauer Straße 68, 80993
Germany . Munich
Olympia Einkaufszentrum
Cabot Circus GLA:990 280 SF
ADDRESS: Glass House, Bristol BS1 3BX
United Kingdom . Bristol
Cabot Circus
K in Lautern GLA:224 966 SF
ADDRESS: 67655 Kaiserslautern
Germany . Kaiserslautern
K in Lautern


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us