Simon Property Group (NYSE: SPG), the Indianapolis-based real estate investment trust, announced an investment program of more than $250 million to further elevate three retail assets in its portfolio: The Mall at Green Hills in Nashville, Cherry Creek Shopping Center in Denver, and International Plaza in Tampa.
Simon acquired the properties from Taubman Realty Group in November and will begin a redevelopment strategy at each site. The Mall at Green Hills will undergo a complete transformation and expansive exterior revitalization featuring grand, two-story flagship statement entrances, jewel-box spaces for luxury boutiques, and upgraded landscaping.
Cherry Creek Shopping Center will receive modernized flagship spaces, refined architectural updates and upgraded storefronts. International Plaza’s upgrades include a 50,000-square-foot open-air exterior expansion, creating a walkable outdoor shopping experience alongside a reimagined Bay Street including an enhanced al fresco dining and gathering area. The existing center will be fully revitalized with new design finishes.
“This investment reflects Simon’s focus on strategic redevelopments to create vibrant, modern environments that cater to today’s shopper,” said Eli Simon, chief operating officer. “Fresh off the successful transformation of Southdale Center – which reestablished the nation’s first enclosed mall as Minneapolis’ premier shopping destination with a new luxury wing alongside experiential retail and lifestyle offerings – we are applying the same disciplined curation, design focus, and long‑term investment mindset to these three iconic properties.”
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