Simon® to Bring New Premium Outlets® to Metro Nashville

Rhea-AI Summary

Simon has announced plans to develop Nashville Premium Outlets, a new luxury shopping and lifestyle destination in Thompson's Station, Tennessee. The approximately 325,000 square foot mixed-use center will be located at the intersection of Interstate 65 and Interstate 840. Construction is expected to begin in 2026, featuring about 75 retailers, restaurants, and a hotel, with potential for residential options and big-box retailers.

The project, developed in collaboration with Nashville-based Adventurous Journeys Capital Partners, will be Simon's third investment in the metro Nashville area, complementing their existing properties Opry Mills and The Mall at Green Hills. This expansion follows Simon's successful launch of Tulsa Premium Outlets in August 2024, which opened fully leased.

Positive

• Expansion into high-growth Nashville market with 325,000 sq ft mixed-use development
• Strategic location at major interstate intersection enhancing accessibility
• Diversification of property portfolio with retail, dining, and hospitality components
• Track record of successful outlet launches (Tulsa Premium Outlets opened fully leased)
• Synergy with existing profitable Nashville properties (Opry Mills, The Mall at Green Hills)

Negative

• Significant capital expenditure required for new development
• Extended timeline to revenue generation (construction starting 2026)
• Potential market risks in retail sector by project completion

Construction expected to begin in 2026; Nashville Premium Outlets will become Simon's third investment in the area 

INDIANAPOLIS, Jan. 29, 2025 /PRNewswire/ -- Simon^®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, announced today that it has entered into an agreement to purchase a large site in metro Nashville where it will develop a new luxury shopping and lifestyle destination known as Nashville Premium Outlets.

Set to be built in Thompson's Station, Tenn., at the intersection of Interstate 65 and Interstate 840, Nashville Premium Outlets is expected to be a draw not only for residents, but shoppers and tourists from around the state and region. Simon is collaborating on this project with Nashville-based Adventurous Journeys ("AJ") Capital Partners, a visionary company known for its transformative work in hospitality and real estate development.

Construction on the approximately 325,000 square foot mixed-use center is expected to begin in 2026, with preliminary plans to include approximately 75 best-in-class retailers, restaurants and a hotel, with the potential to add residential options, big-box retailers and more.

"We are excited to bring another premier shopping and lifestyle destination to Nashville, one of our country's most dynamic and fastest growing markets," said Gary Duncan, Simon's President of Premium Outlets and The Mills. "Featuring great deals from iconic brands, our Premium Outlets also offer enticing food and entertainment options and elevated amenities for both shoppers and retailers alike. We look forward to bringing our distinctive luxury outlet shopping experience to metro Nashville, an area we know well and have long served."

From coast to coast, Simon operates many of the country's most appealing and successful malls and outlet centers, such as Woodbury Common Premium Outlets in Hudson Valley, N.Y. and Desert Hills Premium Outlets just outside of Palm Springs, Calif. With the addition of Nashville Premium Outlets, Simon will soon offer the area's widest array of shopping experiences from value to outlet to luxury.

Nashville Premium Outlets will complement Simon's existing and highly successful properties in the metro area, including the incredibly popular Opry Mills and the distinctive The Mall at Green Hills, which Simon owns through its joint venture with Taubman Realty Group. Opry Mills, which is the area's largest shopping destination, features more than 200 stores and 20 restaurants. As one of Nashville's biggest tourist draws, shoppers flock to Opry Mills from all 50 states and many international destinations. Located in one of metro Nashville's most desirable neighborhoods, The Mall at Green Hills features an impressive array of high-end fashion brands and luxury boutiques.

"Thompson's Station is excited about the opportunity to welcome this new retail development to our community," said Brian Stover, Mayor of Thompson's Station. "This project represents a significant investment in our Town and has the potential to enhance local amenities, create jobs, and strengthen our economy. We look forward to working with the developers to ensure this project is a tremendous success while maintaining alignment with the character and general plan of Thompson's Station and supporting our vision for the future." 

The future Nashville Premium Outlets is yet another example of Simon's continued focus on making smart new investments to deliver more vibrant offerings to meet shoppers' evolving needs. For example, Simon recently opened its new Tulsa Premium Outlets fully leased in August 2024, and the project has been a great success.

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.

About AJ Capital Partners
Adventurous Journeys ("AJ") Capital Partners is a vertically integrated real estate investment manager founded in 2008. AJ repositions real estate to build timeless, scalable businesses and brand platforms across hospitality, mixed-use, and residential sectors. Notable brands include Graduate Hotels®, Marine & Lawn Hotels & Resorts, and Field & Stream Lodge Co. The firm delivers transformative real estate by applying placemaking, inspired design, and hospitality principles to spaces overlooked or undervalued by traditional investment firms. The firm's current portfolio includes $5.3 billion of assets across 100+ properties and 50+ geographic markets. Learn more at www.ajcpt.com.

 

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SOURCE Simon

FAQ

When will Simon (SPG) begin construction of Nashville Premium Outlets?

Simon plans to begin construction of Nashville Premium Outlets in 2026.

How large will Simon's Nashville Premium Outlets development be?

The development will be approximately 325,000 square feet of mixed-use space.

How many retailers will be in Simon's new Nashville Premium Outlets?

The preliminary plans include approximately 75 retailers and restaurants.

Where will Simon's new Nashville Premium Outlets be located?

The outlet center will be located in Thompson's Station, Tennessee, at the intersection of Interstate 65 and Interstate 840.

What other properties does Simon (SPG) own in the Nashville area?

Simon owns Opry Mills and has a joint venture interest in The Mall at Green Hills with Taubman Realty Group.