Simon Drops Another Mall

Northlake Mall

In a time where regional mall construction has completely ceased and online shopping becomes the dominant means of purchasing, Simon Property Group has decided to unload another metro Atlanta mall. Simon, which let Gwinnett Place Mall go back to the bank in 2012, has announced their decision to include Northlake Mall in a portfolio comprised of 54 strip malls and 44 traditional malls to be spun into a publicly-traded REIT. The REIT will be called Washington Prime Group. When asked about the decision, Simon execs stated that the firm was looking to focus on its larger malls and shopping centers.

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