Northlake and Mall of Georgia Crossing are among 44 malls and 54 strip centers Simon has transferred to WPG, a spin-off announced in December. Northlake is 962,987 square feet and Mall of Georgia Crossing is 440,670 square feet. By comparison, Mall of Georgia is 1.8 million square feet.
In metro Atlanta, Indianapolis-based Simon also owns or has an interest in Phipps Plaza and Lenox Square in Buckhead, Town Center at Cobb in Kennesaw and Sugarloaf Mills in Lawrenceville. It also owns North Georgia Premium Outlets in Dawsonville and Calhoun Premium Outlets in Calhoun.
Last week, Simon announced plans to build a mixed-use project in Buckhead, with retail, residences and a hotel near its Phipps Plaza mall. The project would follow a major renovation of Phipps. The project would include a luxury storefront, 320 luxury residential units and a 164-room hotel. Phipps manager Dwayne Herbert wouldn't name the hotel brand.
Globally, Simon owns or has an interest in more than 325 retail real estate properties in North America, Asia and Europe.