Simon Property Group Inc.
The largest owner of malls and one the largest publicity traded real estate companies in the nation, Simon Property Group Inc. is the nation's largest retail real estate investment trust (REIT). Simon Property owns or has an interest in 251 properties containing more than 187 million square feet of gross leasable area (GLA) in regional shopping malls, community shopping centers, and other retail environments throughout the United States. Additionally, the company owns eight "assets" in Europe and Canada. Simon Property employs approximately 4,200 people. The acquisition of assets from Rodamco North America by Simon, The Rouse Company, and Westfield America Trust was completed in May, of which Simon acquired interest in 13 high-quality, highly productive regional malls in the United States. Occupancy for mall and freestanding stores in Simon Property's regional malls in June 2002 was 91.5 percent, an increase from the year-ago occupancy of 90.3 percent. Founded in 1960, Simon today manages a retail network that drives more than $41 billion in annual sales and maintains a portfolio that consistently outperforms the industry.
[Editors' Note: Known as the "Landlord of Choice," Simon launched a surprising nationwide branding campaign in early 1999 that has proven to be beneficial. By associating the "Simon" name with high-quality retail environments, the company has created a level of expectation among shoppers and merchants. This retail REIT recognizes the fundamental strength of marketing in "making your own success."]