The Simon Property Group, a business headquartered in Indianapolis, has 46 locations in the United States, Mexico, South Korea, Japan and five European countries. It is an REIT, or Real Estate Investment Trust, that develops and manages large properties, mostly malls and outlet centers. As such, it owns at least part of some 385 large pieces of real estate throughout the U.S. and Europe, plus six separate outlet centers in Japan, one in Mexico and one in South Korea.
The Simon Property Group partners with well established real estate companies that already have a positive track record to redevelop large projects such as shopping centers. The approach seems to be working, since their growth has been quite impressive in the ten year existence of this Indianapolis business.
In 1960, Melvin Simon & Associates was founded in Indy. The company, owned by two brothers, Melvin and Herbert Simon, became one of the top shopping center developers in the nation. In 1993, most of the company’s interests went public on the stock exchange, and the Simon Property Group was born. Since that time, the Simon Property Group has aggressively added subsidiaries and broadened its field.
Currently, the Simon Property Group owns seven Indianapolis shopping malls: the Fashion Mall at Keystone, Keystone Shoppes, Castleton Square, Brightwood Plaza, Circle Centre Mall, Washington Plaza and Washington Square. The company is also responsible for the Hamilton Town Center shopping mall in Noblesville, Indiana. This makes it a vital part of the Indianapolis economy.
But the Simon Property Group doesn’t just consider the almighty dollar. An important offshoot of the company is the Simon Youth Foundation, an Indianapolis non-profit organization that seeks to nurture options that are meaningful and within the reach of Indianapolis kids considered to be at risk and to find ways to encourage the educational, career and life skills that can transform their lives. This is a far-reaching scholarship and educational resource program that is very well developed and has helped at least 5,000 students graduate high school, many in Indianapolis schools.
For more information on the Simon Property Group, including current ventures and the Simon Youth Foundation, please visit the company’s homepage.
Simon Property Group, Inc.
225 W Washington St
Indianapolis, IN 46204