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Simon Continues Growth

INDIANAPOLIS-Simon Property Group's development in 2005 is expected to exceed $600 million.

By Dana Dubriwny | Updated on May 02, 2005

INDIANAPOLIS-Simon Property Group is anticipating new projects and redevelopments to exceed $600 million in 2005. In its first quarter earnings conference Friday, Simon confirmed six pipeline developments and hinted at more projects in the coming months.

Simon’s upcoming projects include: Jersey Shore Premium Outlets, a 435,000-sf manufactures’ outlet mall located on the northeast quadrant of Garden State Parkway and Route 66 in Tinton Falls, NJ; Round Rock, a Simon-owned development north of Austin, TX, which is being converted into an outlet center; The Domain, an Austin, TX mixed-use, open-air development featuring Neiman Marcus and Foley’s; Domain Crossing and Arbor Walk, two community lifestyle centers in Austin’s Golden Triangle; and Pier Park, a power center that will be located in Panama City.

Rick Sokolov, president and COO, said Simon has also received commitments from Foley’s and Dillard’s, as well as two additional fashion anchors, “for what will be a major retail development serving the affluent western half of the Houston Metroplex.” Additionally, the firm has identified sites in Merrimack, NH, and Limerick, PA, for outlet centers.

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