Simon® Announces Upcoming Transformation of Smith Haven Mall

Rhea-AI Summary

Simon (SPG) has announced a major transformation project for Smith Haven Mall in Lake Grove, N.Y., scheduled to begin in summer 2025 and complete in 2026. The multimillion-dollar redevelopment will introduce several new retailers and amenities, including Zara's first Eastern Long Island location near Center Court.

The project includes the addition of Sur la Table, joining recently opened stores Primark and Mango. A new entertainment venue, Golf Lounge 18, will open in March, featuring a full bar and multiple TVs, while Ford's Garage restaurant will offer American cuisine. The renovation encompasses exterior and interior improvements, including a new outdoor plaza with landscaping and seating areas, updated flooring, modern fixtures, and a revitalized food court.

Positive

• Expansion of retail portfolio with premium brands like Zara, Sur la Table
• Addition of entertainment and dining venues (Golf Lounge 18, Ford's Garage)
• Property value enhancement through comprehensive interior and exterior renovations
• Strategic market expansion with Zara's first Eastern Long Island location

Negative

• Significant capital expenditure required for multimillion-dollar renovation
• Potential disruption to mall operations during construction period (2025-2026)

Insights

Real Estate Investment Analyst

The announced transformation of Smith Haven Mall demonstrates Simon Property Group's proactive approach to evolving retail dynamics. The multimillion-dollar investment showcases three key strategic elements that could positively impact Simon's revenue potential:

1. Premium Tenant Mix Enhancement: Securing Zara as an anchor tenant is particularly significant, as it represents a first-to-market location in Eastern Long Island. This exclusivity factor typically drives higher foot traffic and could command premium lease rates. The addition of experiential retailers like Golf Lounge 18 and Ford's Garage diversifies the revenue streams beyond traditional retail.

2. Asset Value Optimization: The comprehensive renovation including exterior improvements, modernized interiors and the creation of an outdoor plaza aligns with the proven 'town center' concept that has shown resilience against e-commerce competition. These improvements typically lead to:

• Higher occupancy rates
• Increased dwell time, translating to higher consumer spending
• Enhanced property values and potential for higher lease rates

3. Market Positioning Strategy: The tenant mix combines affordable fashion (Primark), premium brands (Zara) and experiential retail (Sur la Table, Golf Lounge 18), creating a balanced ecosystem that appeals to various consumer segments. This diversification helps insulate the property against sector-specific downturns.

The timing of the completion in 2026 positions Simon to capitalize on the projected retail recovery cycle, while the phased approach allows for continued operations and revenue generation during renovations. This investment reflects Simon's larger portfolio strategy of transforming traditional malls into mixed-use destinations, which has historically yielded higher returns compared to traditional mall formats.

LAKE GROVE, N.Y., Feb. 10, 2025 /PRNewswire/ -- Simon^®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today announced the launch of a transformative multimillion-dollar project at Smith Haven Mall. The major redevelopment will begin this summer and is expected to be completed in 2026. It will include a number of new marquee retailers, dining destinations, an outdoor plaza, and amenities throughout the property.

The redevelopment will include the iconic fashion brand Zara, the ultimate destination for fashion-forward individuals, which will open its massive new space in 2026 near Center Court. It will be Zara's first location in Eastern Long Island, making it easy for Smith Haven shoppers to access the latest in global fashion trends.

Plans also feature a lineup of exciting new and recently opened retailers, restaurants and amenities. This includes Sur la Table, opening in the Fall, which provides professional and at-home cooks alike with the finest cookware, dinnerware, cutlery and more. Sur la Table will join the recently opened Primark, an international affordable clothing retailer, and Mango, a leading international fashion brand, along with more than 130 other popular stores.

For fun seekers and foodies, Golf Lounge 18, opening in March, is a state-of-the-art golf facility featuring a full bar and multiple TVs to watch the big game, while first-to-market Ford's Garage is your go-to neighborhood burger and brew restaurant serving up All-American favorites with a vintage vibe. 

The redevelopment project will feature notable improvements to the exterior and interior of the property, starting with a lush, green outdoor plaza that includes extensive new landscaping and seating areas. Once complete, the park-like setting will be perfectly suited for visitors to meet, relax, and enjoy community gatherings. The center is also getting a fresh look – inside and out. The exterior is being repainted and will welcome shoppers with bright signage and refreshed entryways. The mall's interior will feature updated flooring, modern fixtures and other enhancements, including an extensive revitalization of Center Court and a transformation of the food court to feature all new seating for a more comfortable dining experience.

"At Simon, we are committed to making significant investments across our portfolio to ensure that our centers continue to deliver exceptional customer experiences for today's shoppers," said Mark Silvestri, President of Development at Simon.

"Whether you're one of our long-time shoppers or stopping by on your way out East, we eagerly await welcoming everyone to discover what's new at Smith Haven Mall," said Mathew Boals, General Manager of Smith Haven Mall.

About Smith Haven Mall
With more than 130 stores, including L.L. Bean, Apple, H&M, White House Black Market, LoveSac, Aerie, Forever21, The LEGO Store, Sephora, and more, Smith Haven Mall is the destination for all your shopping, dining and family needs in Suffolk County.  The center features several exciting dining options to choose from, including Ruth's Chris Steakhouse, Texas de Brazil, Bahama Breeze and The Cheesecake Factory. Conveniently located between Route 347 and Middle Country Road (Route 25).

About Simon 
Simon® is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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SOURCE Simon

FAQ

When will Simon's Smith Haven Mall transformation project begin and end?

The transformation project will begin in summer 2025 and is expected to be completed in 2026.

What major retailers are joining Smith Haven Mall as part of SPG's renovation?

Zara will open its first Eastern Long Island location, along with Sur la Table, while Primark and Mango have recently opened.

What new dining and entertainment options will be added to Smith Haven Mall?

Golf Lounge 18, a state-of-the-art golf facility with a full bar, and Ford's Garage, a burger and brew restaurant, will be added to the mall.

What improvements are included in Simon's Smith Haven Mall renovation?

The renovation includes a new outdoor plaza, updated exterior paint, new signage, refreshed entryways, updated interior flooring, modern fixtures, and a revitalized food court.