Simon Malls invests $450M in Boston Area Malls
Simon Property Group is investing $450 million in large-scale renovations and expansions at several Boston-area properties, the company said on Thursday.
Three of the several projects that Boston-based Simon Property Group (NYSE: SPG) is developing include the Burlington Mall in Burlington; the Northshore Mall in Peabody and the South Shore Plaza in Braintree.
At the Burlington Mall an 85,000-square-foot wing will be complete on March 28 with the opening of Nordstrom, which will anchor the mall's new wing.
At the Northshore Mall, a 165,000-square-foot wing will be complete by the fall of 2008. The renovations will culminate with the addition of a 138,000-square-foot Nordstrom that will anchor the new wing and will open in 2009.
The South Shore Plaza is set to debut a slew of new tenants including Teavana on the South Shore, Lego and the children's clothing retailer Janie & Jack. The mall will also renovate several existing retailer space including Origins and Brookstone. The mall will begin construction on a new wing in the fall of 2008. In 2010, the South Shore Plaza will be the third Massachusetts Simon property to open a Nordstrom, which will be housed in the new wing.
"We're seeing our malls in Greater Boston maintain and grow market share, which helps us continue our commitment to providing consumers with the highest quality and selection of shopping possible and the magnitude of these projects pays testament to that," said Laurel Sibert, vice president of mall marketing, in a statement.
Source: Boston Business Journal
Three of the several projects that Boston-based Simon Property Group (NYSE: SPG) is developing include the Burlington Mall in Burlington; the Northshore Mall in Peabody and the South Shore Plaza in Braintree.
At the Burlington Mall an 85,000-square-foot wing will be complete on March 28 with the opening of Nordstrom, which will anchor the mall's new wing.
At the Northshore Mall, a 165,000-square-foot wing will be complete by the fall of 2008. The renovations will culminate with the addition of a 138,000-square-foot Nordstrom that will anchor the new wing and will open in 2009.
The South Shore Plaza is set to debut a slew of new tenants including Teavana on the South Shore, Lego and the children's clothing retailer Janie & Jack. The mall will also renovate several existing retailer space including Origins and Brookstone. The mall will begin construction on a new wing in the fall of 2008. In 2010, the South Shore Plaza will be the third Massachusetts Simon property to open a Nordstrom, which will be housed in the new wing.
"We're seeing our malls in Greater Boston maintain and grow market share, which helps us continue our commitment to providing consumers with the highest quality and selection of shopping possible and the magnitude of these projects pays testament to that," said Laurel Sibert, vice president of mall marketing, in a statement.
Source: Boston Business Journal
Labels: Malls
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