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Simon Could Corner South Florida Mall Market

MIAMI-The pending purchase of General Growth could have more impact locally than other parts of the state.

By Eric Kalis | Updated on February 17, 2010

(This story, in slightly different form, originally appeared in ALM’s Daily Business Review.)

MIAMI-Simon Property Group’s $10-billion bid for General Growth Properties could be a game-changer for South Florida more than other major retail markets statewide. Simon owns 41 malls, outlets and shopping centers throughout Florida, while General Growth has just 15.

Merging the portfolios of the two companies would give Simon an unparalleled position in South Florida’s retail sector, experts say. “Simon would be the most dominant player in the region,” says Thomas Godart, managing director of Fort Lauderdale real estate firm Godart Florida Real Estate Investments.

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