Simon Takes Lead In $85M Outlet Project

Law360, New York (November 16, 2011, 4:55 PM EST) -- The country's largest mall developer, Simon Property Group Inc., has teamed up with The Woodmont Co. and EWB Development LLC to build an $85 million outlet mall in Chesterfield, Mo., the companies announced Tuesday.

Simon, which owns stakes in 391 retail properties in North America, Europe and Asia, will own 60 percent of the joint venture, called St. Louis Premium Outlets. Woodmont affiliate Woodmont Outlets LLC and third-party leasing agent EWB did not disclose their contributions.

The first 350,000-square-foot phase of the 55-acre project is expected...
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