Construction expected to begin in 2026;
Nashville Premium Outlets will become Simon's third investment in
the area
INDIANAPOLIS, Jan. 29,
2025 /PRNewswire/ -- Simon®, a real estate
investment trust engaged in the ownership of premier shopping,
dining, entertainment and mixed-use destinations, announced today
that it has entered into an agreement to purchase a large site in
metro Nashville where it will
develop a new luxury shopping and lifestyle destination known as
Nashville Premium Outlets.
Set to be built in Thompson's Station, Tenn., at the
intersection of Interstate 65 and Interstate 840, Nashville Premium
Outlets is expected to be a draw not only for residents, but
shoppers and tourists from around the state and region. Simon is
collaborating on this project with Nashville-based Adventurous Journeys ("AJ")
Capital Partners, a visionary company known for its transformative
work in hospitality and real estate development.
Construction on the approximately 325,000 square foot mixed-use
center is expected to begin in 2026, with preliminary plans to
include approximately 75 best-in-class retailers, restaurants and a
hotel, with the potential to add residential options, big-box
retailers and more.
"We are excited to bring another premier shopping and lifestyle
destination to Nashville, one of
our country's most dynamic and fastest growing markets," said
Gary Duncan, Simon's President of
Premium Outlets and The Mills. "Featuring great deals from iconic
brands, our Premium Outlets also offer enticing food and
entertainment options and elevated amenities for both shoppers and
retailers alike. We look forward to bringing our distinctive luxury
outlet shopping experience to metro Nashville, an area we know well and have long
served."
From coast to coast, Simon operates many of the country's most
appealing and successful malls and outlet centers, such as Woodbury
Common Premium Outlets in Hudson Valley, N.Y. and Desert Hills
Premium Outlets just outside of Palm
Springs, Calif. With the addition of Nashville Premium
Outlets, Simon will soon offer the area's widest array of shopping
experiences from value to outlet to luxury.
Nashville Premium Outlets will complement Simon's existing and
highly successful properties in the metro area, including the
incredibly popular Opry Mills
and the distinctive The Mall at Green Hills, which Simon owns
through its joint venture with Taubman Realty Group. Opry Mills, which is the area's largest shopping
destination, features more than 200 stores and 20 restaurants. As
one of Nashville's biggest tourist
draws, shoppers flock to Opry Mills
from all 50 states and many international destinations. Located in
one of metro Nashville's most
desirable neighborhoods, The Mall at Green Hills features an
impressive array of high-end fashion brands and luxury
boutiques.
"Thompson's Station is excited about the opportunity to welcome
this new retail development to our community," said Brian Stover, Mayor of Thompson's Station. "This
project represents a significant investment in our Town and has the
potential to enhance local amenities, create jobs, and strengthen
our economy. We look forward to working with the developers to
ensure this project is a tremendous success while maintaining
alignment with the character and general plan of Thompson's Station
and supporting our vision for the future."
The future Nashville Premium Outlets is yet another example of
Simon's continued focus on making smart new investments to deliver
more vibrant offerings to meet shoppers' evolving needs. For
example, Simon recently opened its new Tulsa Premium Outlets fully
leased in August 2024, and the
project has been a great success.
About Simon
Simon® is a real
estate investment trust engaged in the ownership of premier
shopping, dining, entertainment and mixed-use destinations and an
S&P 100 company (Simon Property Group, NYSE: SPG).
Our properties across North
America, Europe and Asia provide community
gathering places for millions of people every day and generate
billions in annual sales.
About AJ Capital Partners
Adventurous Journeys ("AJ") Capital Partners is a vertically
integrated real estate investment manager founded in 2008. AJ
repositions real estate to build timeless, scalable businesses and
brand platforms across hospitality, mixed-use, and residential
sectors. Notable brands include Graduate Hotels®, Marine & Lawn
Hotels & Resorts, and Field & Stream Lodge Co. The firm
delivers transformative real estate by applying placemaking,
inspired design, and hospitality principles to spaces overlooked or
undervalued by traditional investment firms. The firm's current
portfolio includes $5.3 billion of
assets across 100+ properties and 50+ geographic markets. Learn
more at www.ajcpt.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/simon-to-bring-new-premium-outlets-to-metro-nashville-302362831.html
SOURCE Simon
