Simon Property Group Inc.
The No. 1 shopping mall owner is also the largest publicly traded retail REIT in North America, with a portfolio that exceeds 200 million square feet of space in regional malls, premium outlet centers, and community/life-style centers. Following its acquisition of Chelsea Property in 2004 and the ensuing growth that spurred, Simon, just this year, bought a handful of stores (all in Simon malls) from Federated Department Stores as part of Federated’s acquisition of May Department Stores. Its industry rivals keep buying additional properties, but Simon stays on top. How? By adapting to the marketplace.
In fact, news reports this summer suggest Simon may be interested in buying smaller shopping centers - an opportunity to roll out yet another retail format. Don’t despair, however: This undisputed giant will also remain loyal to its enclosed mall business. Diversity will be the market driver of its future, as well as continuous redevelopment and repositioning of existing properties and Simon’s ever-present marketing strength.
Simon Brand Ventures, the business-to-consumer arm of the company, has once again launched its annual Simon DTour Live®, a free, live concert series featuring the hottest emerging singing talent, teen-oriented entertainment, and retail brands. Now in its 4th year, Simon DTour Live has become a premier destination for hot musical talent. It also gives teens (whose parents have surprisingly deep pockets for their teens’ wish lists) firsthand access to today’s rising stars, as well as an opportunity to experience some of today’s hottest retail brands through interactive games, giveaways, and prizes. According to an early-August newswire, “Artists on this year’s tour of 23 Simon malls around the country include the family harmonies of girl group Cherish, the high-energy power of Mya, the insistent rock-and-bluesy tones of Cheyenne, the raw acoustic power of New York City singer/songwriter Matt White, the inspiring beat of The Summer Obsession, the adrenaline-pumping Jonas Brothers, the searing octaves of Paul DeAnda, and the deliciously eclectic style of Latina star Natalie.”
Admit it; you are intrigued, aren’t you? That’s how good Simon is.