simon property group headquarters address

As suburban areas grew in popularity, more and more urban dwellers left the cities and moved into outlying areas. Much of MSA's early success was based on a changing demographic. The newly formed division provided marketing and technical services, quality control, and landscaping and design assistance to ensure a degree of consistent managerial and operational quality throughout the Simon portfolio. In the mid-1970s, MSA formed a separate management division charged with tending to its existing properties. The company made an improvement in its corporate structure around the same time. In 1975, MSA opened Towne East Square in Wichita, Kansas, the first enclosed mall with more than 1,000,000 square feet. The size of Simon's individual properties was also becoming more ambitious as the company grew. By 1967, MSA owned and operated more than 3,000,000 square feet. The company continued to expand in the coming few years, adding an average of 1,000,000 square feet of retail space each year.

The Simons brought their enclosed-mall concept back to Indiana later in 1964, opening the first two enclosed malls in Indiana, in Anderson and Bloomington.

Working with the Montgomery Ward representatives allowed MSA to develop a pivotal relationship with a major retailer -the first of many. Opened in 1964, this enclosed mall was built around an existing Montgomery Ward store. On the heels of these developments came a deal for developing three properties in Colorado, including the company's first fully-enclosed shopping mall, University Mall in Fort Collins. Kresge Company signed deals with MSA to develop four of the first Kmart department stores in the Midwest -in Indiana, Illinois, and Michigan. The company's first developments outside of Indiana came when the S.S. Signing leases with major retailers made the company more attractive to the bank, and the brothers were able to borrow enough capital to cover construction costs for ongoing projects and still have enough to finance new projects. Within a short period, the Simons' reputation as good managers attracted larger retail tenants, such as Sears and Woolworth's.

The company's first wholly owned shopping plaza opened in Bloomington, Indiana, in August 1960 and was followed rapidly by four similar centers in the Indianapolis area. The Simon brothers' first developments were small, open-air plazas, usually including a grocery store or drug store as an anchor. Petitioning his brothers for assistance, Simon founded Melvin Simon & Associates (MSA) and began his career as a developer. Soon, he realized that there was a promising future in developing retail shopping centers. After his military discharge, he remained in the Indianapolis area, took a job as a leasing agent, and set about learning the real estate business.

Army and been stationed at Fort Benjamin Harrison's Army Finance Center near Indianapolis, Indiana. With a degree in accounting from the City College of New York, Simon had enlisted in the U.S. The shopping mall empire that is Simon Property Group began in 1960, when Melvin Simon, a leasing agent for an Indiana real estate firm, asked his brothers Herbert and Fred to leave New York and join him in Indiana. Since its initial public offering (IPO) in the early 1990s, the company's revenues have grown exponentially. Simon's properties include traditional enclosed shopping malls, outlet malls, and lifestyle centers, which offer a combination of specialty retail stores, entertainment, and sit-down restaurants, often in an open-air setting. Simon has ownership or interest in more than 280 properties in the United States -as well as dozens in Europe, a handful in Japan, and one in Mexico -and boasts a total market capitalization of $46 billion. Simon is a self-administered, self-managed real estate investment trust (REIT), which is a company that must distribute more than 90 percent of its taxable income to its shareholders each year. is the largest mall developer in the United States. Public Company Incorporated: 1960 as Melvin Simon & Associates Employees: 4,700 Sales: $3.17 billion (2005) Stock Exchanges: New York Ticker Symbol: SPG NAIC: 525930 Real Estate Investment Trusts

225 West Washington Street Indianapolis, Indiana 46204-3420 U.S.A.

Simon property group headquarters address