Simon Takes Interest in Santa Rosa Mall
Indianapolis-based Simon Property Group Inc. has acquired a 50 percent interest in the Coddingtown Mall in Santa Rosa, Calif., for about $37 million, the company said.
Simon will share ownership in the 827,000-square-foot center with privately held Codding Enterprises. Coddingtown Mall is anchored by JCPenney, Macy’s and Gottschalks and is only about 1 1/2 miles from Simon’s Santa Rosa Plaza.
“The center is very well located and we believe that we can add value through the execution of various redevelopment activities,” said David Simon, Simon’s chief executive officer, in a statement.
Through its subsidiary partnership, it currently owns or has an interest in 298 properties in the United States and a total 203 million square feet of gross leasable space in 40 states plus Puerto Rico.
Among its West Coast properties are the Westminster Mall, Brea Mall, the Shops at Mission Viejo and Laguna Hills Mall in California’s Orange County; Fashion Valley in San Diego, Calif.; and Stanford Shopping Center in Palo Alto, Calif.
—Robert McAllister
