Simon Property Group has completed a two-year, $30 million renovation to what is now called Philadelphia Mills.
The mall owner is now billing the property as the area’s “largest outlet shopping center,” and totals more than 1.8 million square feet. By comparison, Simon’s Gloucester Premium Outlets is 375,000 square feet and the Philadelphia Premium Outlets totals 549,000 square feet.
Simon (NYSE: SPG) has ramped up redevelopment and expansion projects throughout its portfolio, spending roughly $2 billion at the end of the first quarter on that work. The company has targeted its three main property groups — the regional malls, the Mills and Premium Outlets.
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