Owner of King of Prussia Mall Transforms America’s Oldest Mall into Mall of the Future

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While the fate of malls in the U.S. remains uncertain, there are still certain malls like the King of Prussia Mall that are not only thriving but continuing to grow.

Simon Property Group, the owner of the King of Prussia Mall, is hoping to have similar success with The Southdale Center in suburban Minneapolis, writes Kate King for The Wall Street Journal.

Simon has invested $400 million to transform America’s oldest mall into the mall of the future. The recipe for success includes pickleball courts, luxury apartments, a hotel and luxury brands.

A luxury wing is being constructed which will include Gucci, Burberry, and Moncler. Simon also has plans to add entertainment-focused tenants as well.

Near the luxury wing, other high-end retailers are also leasing space inside Southdale including Kate Spade, Tory Burch, and Coach.

Makeovers like this are essential for malls to continue to perform well, said Floris van Dijkum, managing director at the investment firm Compass Point Research & Trading.

The firm advises clients on investing in malls.

“The good malls are thriving,” van Dijkum said. “If you have the capital to reinvest in your malls, that’s how you keep them vibrant and relevant.”

Read more about King of Prussia Mall owner Simon Property Group’s vision for The Southdale Center in suburban Minneapolis in The Wall Street Journal.

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