Simon Property Beats the Gloom

Amidst early signs of market recovery, Simon Property Group Inc. (SPG - Analyst Report), the largest publicly traded retail real estate company in North America, has recently signed leasing agreements with nine new retail and restaurant companies in its Central Texas shopping centers. 

With the holiday season round the corner, Simon Property expects the deals to revitalize its portfolio. The companies which have recently opened their shops in the malls owned and managed by Simon Property include Yogo Bowl – a self-serve frozen yogurt concept, Frugal Media – a new and used textbook seller, Sharkey’s Cuts for Kids – a haircut saloon for young customers, and Five Guys Burgers & Fries – a popular eatery primarily selling burgers. 

In addition, retail shops like the Spirit of Halloween that sells original costumes, props, and masks, and Bob & Mike’s Chicken – a casual dining restaurant, have opened their outlets in ‘The Shops at Arbor Walk’, a premium shopping mall owned by Simon Property in Austin. In its ‘Lakeline Mall’ in Austin, retailers who have set their shops include Dulce’s that offers Mexican cuisine, Gaylord’s Hamburgers that serve fresh burgers, and Discount Electronics that sells refurbished computers and laptops. 

Simon Property owns, manages, leases, acquires and develops a diverse portfolio of regional malls, premium outlet centers, and community/lifestyle centers across the globe. By the end of the second quarter of 2009, the company owned or had interests in 385 properties spanning 262 million square feet of gross leaseable space in North America, Europe, and Asia. The international presence of the company gives it a more compelling long-term growth story than its domestically focused peers.

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