Simon Property Group

Retail malls were dying. Department stores closed. Foot traffic dropped sharply. Simon Property Group owned the world's largest mall portfolio. A company this size should have panicked. Instead, Simon saw the opportunity. Empty retail space could be transformed. The mall of the future would be experience. Simon converted retail space into restaurants, fitness centers, entertainment, and wellness services. Vacant anchor stores became climbing gyms. Empty shop corridors became food halls. Revenue per square foot from experience exceeded what retail paid. Footfall returning to malls wasn't shopping.