Simon Property Group (SPG) Plans To Hand Back Square One Mall

Simon Property Group (NYSE: SPG) is reportedly preparing to hand back the Square One Mall in Saugus to its lender. The enclosed regional mall is classified as a Class C property, reflecting weaker tenant quality and softer shopper traffic than higher tier centers. Refinancing the mall has reportedly become difficult, as lenders tighten terms for lower performing retail properties. Simon Property Group’s reported plan to relinquish Square One Mall is an important development to consider...