Home About Archives RSS Feed

Prime Outlets Sold

Tammy Daniels

The largest public real estate company in the nation as purchased the Prime Outlets Acquisition Co. and some of its entities, including the Prime Outlets in Lee, for $2.35 billion.

The sale was announced Tuesday, Dec. 8, on the PRNewswire. Simon Property Group Inc. is an S&P 500 company (NYSE:  SPG) based in Indianopolis that operates regional malls, The Mills, community/lifestyle centers and international properties. It currently owns or has an interest in 385 properties comprising 262 million square feet of gross leasable area in North America, Europe and Asia, and employs 5,000 worldwide.

It has added Prime Outlets' 22 locations totaling more than 8.2 million square feet of retail space. As of June 30, 2009, Prime Outlets' centers were 92 percent occupied and generated annual sales per square foot of approximately $370. The Lee location is one of the smaller holdings at 224,519 square feet. 

More information on Simon is available at www.simon.com.

Write a comment - 0 Comments       Tags: Prime Outlets, Lee, outlets, shopping      

Support Local News

We show up at hurricanes, budget meetings, high school games, accidents, fires and community events. We show up at celebrations and tragedies and everything in between. We show up so our readers can learn about pivotal events that affect their communities and their lives.

How important is local news to you? You can support independent, unbiased journalism and help iBerkshires grow for as a little as the cost of a cup of coffee a week.

News Headlines
Adams Conservation Commission Sees Route 8 Plans
BArT Basketball Team Opens with a Win
Veteran Spotlight: PFC Giardina Runs Out of Luck on Day 13
Climate Change Expert: Keep Heat on Banks, Insurers
Williams Women's Basketball Improves to 8-0
Monroe Leads MCLA Men Past Rivier
Williamstown Housing Trust Decides on Ask to Community Preservation Committee
Pittsfield Holds Tree Lighting Ceremony
Whiplash Weather in Store for the Berkshires
Clarksburg Gets 2-Week Vacation to Accommodate Construction

 


Bill Schmick separates the bull from the bears in his weekly columns on investing and market wrap-ups.



Categories:
advertising (10)
agriculture (1)
arts (7)
automotive (5)
awards (16)
banking (41)
Beacon (1)
broadband (1)
business (52)
chamber (25)
closing (5)
development (23)
dining (5)
domestic animals (2)
energy (6)
entertainment (2)
federal (4)
finances (5)
food (5)
fundraiser (3)
green (2)
grocery (5)
hospitality/hotel (5)
housing (0)
insurance (3)
investment (6)
jobs (35)
labor (17)
laws (4)
Legislature (3)
manufacturing (9)
media (8)
medical (4)
networking (33)
new (22)
pricing (1)
projects (2)
promotion (6)
publishing (13)
radio (2)
real estate (8)
retail (29)
technology (13)
training (5)
transportation (1)
volunteer (1)
website (2)
wholesale (7)
workshops (6)
Archives:
Tags:
Talkberkshires Pittsfield Bj's Adams Sales Tax Merger State Unemployment Expansion Flood Crane & Co. Breakfast Statistics Berkshire Living Statistics Great Barrington Store Opening Williamstown Currency Excelsior Qualprint Berkshire Creative Social Media Berkshire Chamber Of Commerce Baldwin Unemployment Wmeco Small Business Auction North Adams Sabic Jobs Berkshire Enterprises Gas Prices Walmart
Popular Entries:
Excelsior Brings Greeting Card Co. To North Adams
Berkshire Jobless Rates Drop
Bay State Continues to Add Jobs
Williamstown Chamber Seeks Input on Future Role
Aladco Installs New 'Green' Washing Machine
Storey Publishing to Host Next Creative Challenge
New Dog Training Center Open in North Adams
Carbone Dealership Empties Lot
White Hart Inn For Sale for $5M
Real Estate Panel to Tour S. County, Pittsfield Sites
Recent Entries:
Biz Briefs: Mr. Tire, Tax Holiday, Business Directory
Berkshire Eagle Parent Mulling Newspaper Sales
Digitial First Puts Vermont News Buildings on the Market
Berkshire Chamber, Neal Hosting Facebook for Business Workshop
Winstanley Wins Big at Annual ADDY Awards
Eggs & Issues Event Focuses on Rail Cars, Development
State Unemployement Rate Drops Slightly
New Biotech Firm Setting Up in Pittsfield
Crane Museum Opens Retail Store
License Commission Approves River Street Package Move