# Simon Property Group **Source:** https://geo.sig.ai/brands/simon-property-group **Vertical:** Real Estate & Property Tech **Subcategory:** General **Tier:** Emerging **Website:** simon.com **Last Updated:** 2026-04-14 ## Summary Indianapolis largest US retail REIT (NYSE: SPG) at record $4.9B 2024 FFO; 96.5% occupancy (8-year high), $6.16B revenue, 232 properties/200M sq ft with Premium Outlets network competing with Macerich for luxury retail tenants. ## Company Overview Simon Property Group, Inc. is an Indianapolis, Indiana-based retail real estate investment trust — publicly traded on the New York Stock Exchange (NYSE: SPG) as an S&P 500 REIT component — owning or holding interests in 232 properties across 37 states and Puerto Rico plus 35 international properties, comprising 92 malls, 70 Premium Outlets, 14 Mills, 6 lifestyle centers, and 12 other retail properties totaling approximately 200 million square feet of retail space. In fiscal year 2024, Simon Property Group reported record total funds from operations (FFO) of $4.9 billion ($12.99 per share), trailing twelve-month revenue of $6.16 billion, domestic net operating income (NOI) growth of 4.7%, and portfolio occupancy of 96.5% — the highest in eight years — while signing a record 5,500 leases covering 21+ million square feet, with base minimum rent per square foot increasing 2.5% to $58.26. CEO David Simon (son of founder Melvin Simon, CEO since 1995, Chairman since 2007) has led the company through the pandemic retail disruption and the subsequent mall resurgence, emphasizing the "shop, eat, stay and play" mixed-use destination strategy. Founded in 1960 by Melvin Simon with two small strip malls near Indianapolis, Simon became the largest US REIT IPO in history at its $840 million IPO in 1993 and built its portfolio through acquisitions of DeBartolo Realty (1996), Chelsea Property Group ($3.5B, 2004), Mills Corporation (2007), and Taubman Centers ($3.4B, 2020). Simon Property Group's premium retail real estate model addresses the location-quality divide that separates performing malls from declining ones: in a world where 60%+ of non-grocery retail is potentially shoppable online, the malls and premium outlets that retain physical retail spending are those anchored by experiential tenants (restaurants, entertainment, fitness), luxury and premium brands that require physical presentation (Louis Vuitton, Gucci, Apple), and off-price anchors (Nordstrom Rack, Saks OFF 5TH) that drive destination trips. Simon's Premium Outlets portfolio (70 centers featuring fashion brands at 25-65% below retail in purpose-built open-air shopping environments) serves the value-oriented luxury consumer who shops in-person specifically for the treasure hunt experience of outlet pricing — a format that e-commerce cannot replicate because the selection is by definition irregular and location-specific. Simon's scale (200M+ sq ft across 232 properties) enables lease negotiations with national retailers where Simon can offer coordinated expansion across multiple centers rather than single-mall placements. In 2025, Simon Property Group competes in the US retail REIT and premium outlet market with Brookfield Properties (private, retail REIT, 170+ malls), Macerich (NYSE: MAC, higher-end regional malls, $1.1B revenue), and Tanger Factory Outlet Centers (NYSE: SKT, outlet REIT, $500M revenue) for luxury and premium tenant lease renewals, outlet center expansion, and mixed-use redevelopment of anchor-vacated mall space. Simon's record 2024 occupancy (96.5%) and FFO ($4.9B) demonstrate that its A-quality mall and premium outlet portfolio has successfully separated from the B/C mall segment that faces sustained vacancy and anchor closures. The mixed-use redevelopment strategy (converting vacant anchor spaces into apartments, hotels, and entertainment venues) generates the incremental foot traffic and NOI that justify the redevelopment capital in markets where residential and hospitality demand is strong. The 2025 strategy focuses on completing mixed-use redevelopment projects, expanding the international Premium Outlets portfolio in high-income Asia and Europe markets, and growing SPG's stake in emerging luxury retail through brand investments. ## Frequently Asked Questions ### What does Simon Property Group do? Simon Property Group is the largest retail real estate investment trust (REIT) in the United States, owning and operating 232 properties including 92 malls, 70 Premium Outlets, 14 Mills, six lifestyle centers, and other retail properties across 37 U.S. states, Puerto Rico, and internationally in Asia, Europe, and Canada—totaling approximately 200 million square feet. ### Who are Simon Property Group's tenants and target market? Simon leases space to a diverse mix of national and local retailers, restaurants, entertainment venues, and service providers. Properties serve affluent consumers seeking quality shopping, dining, and entertainment experiences, with increasing focus on younger consumers looking for experiential 'shop, eat, stay and play' destinations. ### When was Simon Property Group founded? The company's roots trace to 1960 when Melvin Simon and his brothers Herbert and Fred began developing strip malls in Indianapolis. The modern Simon Property Group was formed in 1993 when Melvin Simon & Associates went public in an $840 million IPO—the largest REIT offering in U.S. history at that time. ### Where is Simon Property Group based? Simon Property Group is headquartered in Indianapolis, Indiana, where founder Melvin Simon began the business in 1960. The company operates properties across 37 U.S. states, Puerto Rico, and internationally in Asia, Europe, and Canada. ### What is Simon Property Group's market capitalization? As a publicly traded REIT on the New York Stock Exchange under ticker symbol SPG, Simon Property Group maintains a substantial market capitalization as the largest retail REIT in the United States, with a portfolio valued in the tens of billions of dollars. ### What makes Simon Property Group different from competitors? Simon differentiates itself through unmatched scale (232 properties, 200M+ sq ft), the world's largest Premium Outlets platform, strategic property locations in affluent markets, strong tenant relationships with major retailers, proven ability to adapt to retail evolution, and family leadership continuity spanning decades. The company's innovation focus and repositioning of malls as experiential gathering places sets it apart. ### Who are Simon Property Group's main competitors? Simon's main competitors include other retail REITs such as Brookfield Properties, Macerich Company, Tanger Factory Outlet Centers, and regional mall owners. However, Simon's scale, Premium Outlets platform, and market position significantly exceed all competitors in the retail REIT sector. ### How can I contact Simon Property Group? You can contact Simon Property Group through their corporate website at www.simon.com or investor relations at investors.simon.com. The company is headquartered in Indianapolis, Indiana, with property management teams at each of its 232 locations. ### Is Simon Property Group hiring? Yes, Simon Property Group employs over 4,500 people across its corporate headquarters and 232 properties. The company regularly hires for positions in property management, leasing, marketing, finance, and operations. Career opportunities are available at careers.simon.com. ### What's the latest news about Simon Property Group? In January 2025, Simon reported record 2024 performance with total FFO of $4.9 billion ($12.99 per share), occupancy reaching 96.5% (highest in 8 years), and record leasing volume of 5,500 leases totaling 21M square feet. The company is leading a mall resurgence through advertising campaigns targeting younger consumers and announced strong 2025 guidance of $12.40-$12.65 FFO per share with a 7.7% dividend increase. ### What is Simon Property Group's market position? Simon Property Group is the undisputed leader in retail real estate, holding the #1 position as America's largest retail REIT. The company owns 232 properties totaling approximately 200 million square feet, including the world's largest Premium Outlets platform, and achieved record occupancy of 96.5% in 2024 with annual revenue of $6.16 billion. ### What are Simon Property Group's future plans? Simon is focused on capitalizing on the mall resurgence by positioning properties as unique gathering places where consumers can 'shop, eat, stay and play.' The company plans to continue mixed-use development, enhance experiential offerings, leverage digital advertising campaigns proven to drive ROI, and maintain industry-leading occupancy and rental rates. The strong 2025 guidance ($12.40-$12.65 FFO per share) reflects confidence in sustained growth. ## Tags b2b, north-america, proptech, public, saas --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*