Morris cites demographics and location as two factors fueling interest in Hamilton Town Center. "It really has everything a retailer would want--strong housing starts, high income levels and an educated population," Morris says.

"Noblesville is a really dynamic area," Williams agreed. "Hamilton County is one of the fastest growing counties in the state, and one of the fastest growing areas in the country… . At first blush, [the Hamilton Town Center site] appears to be out of the action, but there is stuff going on all around it."

The location along Interstate 69, a heavily traveled, high-growth corridor between Indianapolis and Fort Wayne, should support the property's position as a regional center, Morris says. Additionally, the businesses along Interstate 69 and those located in the City of Noblesville's nearby corporate campus are expected to bring a good daytime population to the area.

Hamilton Town Center will be Simon's second lifestyle center in Indiana. The 570,000-sf Clay Terrace opened in fall 2004. The retail center, co-developed by Simon and Lauth Property Group, is at the intersection of US 31 and 146th Street in Carmel. Tenants, which range from locally owned boutiques to national retailers, include Orvis, Eddie Bauer, Z Gallerie, Kirkland's, Pier One Imports, Three Chairs Company, Bombay Company, Norwalk Furniture, and David & Mary's Day Spa.

Nationally, Simon will be opening two new centers in the coming weeks. Those projects are the 403,600-sf Rio Grande Premium Outlets in Mercedes, TX and Coconut Point in Estero, FL. The later comprises 1.2 million sf of retail, 45,000 sf of office condos, and 305 condos.

Although he had no other Midwest projects to announce, Morris says that the company plans to tackle several renovations over the next four years. Worldwide Simon plans to spend more than $4.7 billion on renovations and construction from 2007 to 2010.