Simon Property Group Inc. (NYSE:SPG) , along with Swire Properties Inc. and Whitman Family Development, LLC announced the joining of five top retail players to the Brickell City Centre’s 500,000 square-foot shopping center. These players include Victoria’s Secret, Bath & Body Works, Suit Supply, Stitched and Pinko.
The addition of these five tenants to the $1.05 billion mixed-use project follows the earlier announcement of the joining of over 80 retailers and eateries to this center, which is slated to open in November.
The coming of these top tenants bodes well for the future of Brickell City Centre. In fact, the retail center is almost fully leased and tenants are in the process of equipping their stores. These top global fashion brands are expected to further add to the shopping experience of the customers in the center.
Simon Property is engaged in acquiring, owning and leasing a diverse portfolio of shopping malls. The company reported first-quarter 2016 funds from operations (“FFO”) per share of $2.63, up from $2.28 in the year-ago quarter.
Currently, Simon Property has a Zacks Rank #2 (Buy). Investors interested in the retail REIT sector can consider stocks like Acadia Realty Trust (NYSE:AKR) , The Macerich Company (NYSE:MAC) and Regency Centers Corporation (NYSE:REG) . Each of these stocks carries the same Zacks Rank as Simon Property.
SIMON PROPERTY (SPG): Free Stock Analysis Report
MACERICH CO (MAC): Free Stock Analysis Report
REGENCY CTRS CP (REG): Free Stock Analysis Report
ACADIA RLTY TR (AKR): Free Stock Analysis Report
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