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



TODAY, Finland:
Lippulaiva declared K-Supermarket, Prisma, Lidl, and Tokmanni as anchor tenants.
TODAY, USA:
About 200 terminals to sell bitcoins were installed in stores operated by Walmart.
Oct 22, 2021, USA:
Cyber-sports arenas, basketball courts, and aquariums are replacing storefronts and retail spaces.
Oct 22, 2021, USA:
The video host will host a week of "live shopping" as part of its "YouTube Holiday Stream and Shop" event.
Oct 21, 2021, India:
Flagship stores at the mall include Diesel, Replay, Hugo Boss, Emporio Armani, and Paul Smith.
Oct 21, 2021, USA:
Camp continues to experiment with the format by opening new retail stores in the U.S.
Friend
and Follow
Asheville Outlets GLA:325 000 SF
ADDRESS: 800 Brevard Road, Asheville, NC 28806
USA . Asheville
Asheville Outlets
Designer Outlet Malaga GLA:322 917 SF
ADDRESS: 29004, Málaga, Spain
Spain . Malaga
Designer Outlet Malaga
I Viali GLA:452 084 SF
ADDRESS: Via Dei Cacciatori 111 - 10042 Nichelino TO - Piemonte
Italy . Torino
I Viali
Mall of Scandinavia GLA:1 087 155 SF
ADDRESS: Evenemangsgatan 11 169 56 Solna
Sweden . Stockholm
Mall of Scandinavia


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