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Simon Property Group Invests $450M in Boston Area

Mall Giant Adding Nordstrom to Lineup in Three Area Malls
By Sasha M Pardy
April 1, 2008 | 5:35 P.M.

Simon Property Group (NYSE: SPG) is putting some Boston-area properties through renovations and expansions totaling $450 million. The company said the investment shows its commitment to an area that has shown growth in market share for Simon. The company's Burlington Mall in Burlington, MA received a 138,000-square-foot Nordstrom, which is anchoring a new 85,000-square-foot wing to the mall that completed March 28th. New tenants opened at the mall recently include a 35,000-square-foot Crate & Barrel, Anthropologie, J Crew with Crew Cuts, Blue Mercury, Cole Haan, Free People, lululemon athletic, Samsonite Black Label and Sony Style. The Northshore Mall in Peabody, MA completed its first phase of renovation construction fall 2007 and featured Cheesecake Factory, Filene's Basement and a new entrance to the mall's food court. The second phase of renovation is a 165,000-square-foot new wing that will be complete this fall and include a two-story Forever 21. The third phase of renovation will add a 138,000-square-foot Nordstrom that will open spring 2009, followed by a P.F. Chang's in summer 2009. The South Shore Plaza mall in Braintree, MA will see a wave of new tenants opening fall 2009, including Teavana, Lego, Janie & Jack, and improvements to existing tenants Origins and Brookstone. Lastly, a new wing will start construction this fall to accommodate a brand new Nordstrom.

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