![]() Simon’s centers typically account for 10 to 20 percent of locations of major U.S. “The moderation in internal growth from very strong levels in recent years has been generally expected,” Bank of America research analyst Christy McElroy wrote in a research note.ĭespite a slowdown, Simon represents one of the best capitalized and strongest U.S. Net operating income for the centers rose 4.1 percent. Occupancy fell 1.2 percentage points to 97.9 percent. The average rent rose 6 percent to $26.32 per square foot. Management Office, located at Las Vegas South Premium Outlets: If you have questions regarding leasing, directions, store information, would like to make a. ![]() Occupancy was essentially flat with a year before, and net operating income for those malls rose 2.8 percent.Īt Chelsea Premium Outlet Centers owned by Simon for at least a year, average sales rose 5.4 percent to $511 per square foot, compared with a year-earlier rise of 9.2 percent. The average rent rose 4.3 percent to $37.73 per square foot. ![]() For the first time in several years, the company also saw a slowdown in Las Vegas where the company owns the Las Vegas Premium Outlets and The Forum Shops at Caesars.Īt malls owned by Simon for at least a year, sales by its retailer tenants rose 0.8 percent from a year earlier to $491 per square foot, down from a 5.6 percent rise a year earlier. housing downturn has been particularly severe. Simon said it saw a slowdown in its properties in Southern California and Florida, where the U.S. ![]()
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