Who says physical retail is dead? Simon has announced the expansion of its upscale Woodbury Common Premium Outlets and multiple new outlet developments around the United States.
“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,” said David Simon, chairman, CEO and president of Simon.
At Woodbury Common, located in the Hudson Valley, Simon will add 160,000 square feet of retail, additional parking and two hotels, with construction to begin in 2024.
In Los Angeles, Simon has reached an agreement in principle with the City of Carson to resume development on a 400,000-square-foot, high-end fashion outlet and value-oriented center, to be located along Interstate 405. Work on the 40-acre site is anticipated to begin this year, with an opening targeted for 2024. In metropolitan Nashville, the company plans a high-end luxury Premium Outlet, in partnership with locally-based Adventurous Journeys (AJ) Capital Partners. The center will be approximately 300,000 sq. feet retailers and restaurants, located in the market’s southern high-income area. Construction is anticipated to begin in 2023.
Construction also will resume on Tulsa (Oklahoma) Premium Outlets, located in Jenks, Oklahoma, off Interstate 75 along Riverside Parkway in 2022. The center will be approximately 330,000 square feet and feature almost 100 retailers. The grand opening is targeted for 2024.
