Simon Property Group to Acquire Seattle's University Village

Simon Property Group entered into an agreement through a subsidiary to acquire University Village, a premier open-air retail center located near the University of Washington in Seattle. The transaction is expected to close in the fourth quarter of 2026, pending customary closing conditions.

University Village features over 100 businesses, blending national brands like Apple and Lululemon with local boutiques and eateries. Over the last three decades, the property expanded from approximately 300,000 square feet to nearly 600,000 square feet.

CEO Eli Simon stated the acquisition aligns with the company's strategy of owning high-quality assets in strong markets. Susie Plummer, Partner and General Manager of University Village, noted that the center was envisioned as a neighborhood gathering place where small businesses could thrive alongside national brands.