- Simon Property Group will add 50 KSF of office space to its luxury retail center, The Shops at Clearfork, in Fort Worth.
- Simon continues to expand its tenant mix by adding office space, housing, fitness, and hospitality facilities across its properties to drive foot traffic and tenant value.
- The firm’s redevelopment pipeline includes more than $1B in residential and mixed-use projects that aim to transform retail spaces into lifestyle destinations.
According to CoStar, Simon Property Group (SPG), the largest retail landlord in the nation, will add 50 KSF of new office space to The Shops at Clearfork in Fort Worth, Texas.
The Blueprint
The Fort Worth addition is part of a larger $4B redevelopment pipeline focused on transforming Simon’s retail centers into multi-use hubs that can attract a wide range of tenants.
Most of the new office space will be leased to a tenant referred to as “Wells,” which some speculate could be Wells Fargo (WFC), though Simon has not confirmed this.
Anchored by luxury retailers like Neiman Marcus, Tiffany & Co., Gucci, and Tumi, Clearfork has already attracted prominent tenants such as Frost Bank and WeWork.
The addition of new office space may draw more professionals to the area, adding daytime activity that complements the upscale shopping and dining experience.
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Mixed-Use Strategy
Simon’s Clearfork project is the latest example of its commitment to integrating diverse tenant types—such as banks, fitness centers, hotels, and healthcare facilities—into its properties to enhance value and attract foot traffic.
This follows the success of similar projects like Atlanta’s Phipps Plaza, where Simon introduced a Life Time fitness club, Nobu hotel, and a 13-story office building, converting the traditional mall into a dynamic mixed-use site.
What’s Next?
Simon’s $4B pipeline includes over $1B earmarked for residential development, with other funds allocated toward mixed-use projects.
CEO David Simon noted that while the company will continue developing selective office space, it’s not focused on large-scale speculative office buildings.
