Simon to Acquire Seattle's University Village: Nearly 600,000-Square-Foot Open-Air Center, Closing Expected in Q4
Simon, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, announced on October 30 that a Simon subsidiary has entered into an agreement to acquire University Village, an open-air retail center in Seattle, Washington. The transaction is expected to close in the fourth quarter of 2026, subject to the satisfaction of customary closing conditions; financial terms were not disclosed.
Since opening in the 1950s, University Village has been a vibrant Seattle community hub. Located north of downtown near the University of Washington, the open-air shopping and dining destination features more than 100 businesses and services, including Apple, RH Gallery, Crate & Barrel, Room & Board, Sézane, Lululemon, Aritzia, Vuori and Din Tai Fung.
"More than thirty years ago, we set out to create more than a retail space — we envisioned Seattle's finest neighborhood gathering place, where local and regional small businesses could thrive alongside quality national brands and families could come together," said Susie Plummer, Partner and General Manager of University Village. "The Village began as an approximately 300,000-square-foot property, but it was never just about bricks and mortar; today, it has grown to nearly 600,000 square feet."
"University Village is an exceptional retail destination, and we are pleased to welcome it to our portfolio," said Eli Simon, Chief Executive Officer, President, and Chief Operating Officer of Simon Property Group. "This acquisition underscores our focus on owning distinctive, high-quality assets in strong markets. We look forward to building on the center's success for shoppers, retailers, and the greater Seattle community."
Simon (NYSE: SPG) is a self-administered and self-managed real estate investment trust whose properties across North America, Europe and Asia provide community gathering places for millions of people every day.
Source: GSM · USA (original Chinese edition)
Photo: 图：位于 Seattle 的 University Village 内部步道（2024年资料图）。Another Believer 摄，CC BY，经 Wikimedia Commons。 / An interior walkway at University Village in Seattle (2024 file photo). Photo by Another Believer, CC BY, via Wikimedia Commons.
