Simon REIT: Mall Leasing Activity is Strong

Simon Property Group reported strong leasing activity in its malls in the second quarter and said 40% of its deals were made with new businesses that are lining up to fill mall space at its properties.

The REIT, which is the nation’s largest mall owner, had record retailer sales of $746 per square feet at its malls and outlets combined in Q2, a 26% increase from last year, with malls alone notching a 29% increase to $674.

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