Simon Property Group Sees ‘Big Comeback' in Malls

Simon Property Group has seen a “big comeback” in malls, driven in part by domestic tourism.The company, which is a real estate investment trust that owns shopping, dining, entertainment and mixed-use destinations, saw its occupancy rise 1.1% year over year (YoY) and reach 95.5% as of March 31, Simon said in a Monday (May 6) earnings release.It also saw its base minimum rent per square foot rise 3% YoY, reaching $57.53 on March 31, according to the release.“Needless to say, I’m very pleased with our first q ...