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Simon Accelerates Asset Intensification

Simon_3ICSC reports Simon is implementing asset intensification at all of its new developments, starting with the South Park Mall in Charlotte, NC. For Simon, they are looking at ways of leveraging their dominant market positions to create additional real estate value.

Asset intensification is a term that had been used to describe the practice of retailers to reinvigorate their growth by getting more out of existing real estate. By rethinking their market approach, retailers redefined the shopping experience by making major overhauls to their product development capabilities and marketing.

Retail consultancy Retail Forward ranked the top 10 retailers practicing asset intensification, whom they dub "Growth Miners", retailers whose median compound annual growth rate was over double that of their peers:

1 Advance Auto Parts, Inc.
2 Chico’s FAS, Inc.
3 Harold’s Stores, Inc.
4 Hot Topic, Inc.
5 Coach, Inc.
6 Christopher & Banks Corp.
7 Sharper Image Corporation
8 Bed Bath & Beyond Inc.
9 Ultimate Electronics
10 Pacific Sunwear of California, Inc.

Retail Traffic magazine reports on other Simon initiatives including the addition of a hotel and/or residential units to the recently opened St. Johns Town Center in Jacksonville, FL, the Domain shopping center in Austin, Texas, and 100,000 square feet of office space at Firewheel Town Center in Dallas, scheduled to open later this year. As these new forms of real estate are completed, look to Simon to follow the example of hotels in finding additional ways to encourage cross-traffic between retailers and local residents and office workers.

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