THOMPSON’S STATION, TENN. — Mall owner Simon Property Group (NYSE: SPG) has entered into an agreement to purchase a development site in metro Nashville with plans to build a luxury shopping and lifestyle destination known as Nashville Premium Outlets. The 325,000-square-foot project will be situated at the intersection of I-65 and I-840 in the southern suburb 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,” says Thompson’s Station Mayor Brian Stover.
Simon is collaborating with Nashville-based Adventurous Journeys Capital Partners (AJ Capital), a company known for its work in hospitality and real estate development. Construction is expected to begin in 2026, but a timeline for completion was not provided.
Preliminary plans call for 75 retailers, restaurants and a hotel, with the potential to add residential options and big box retailers.
“We are excited to bring another premier shopping and lifestyle destination to Nashville, one of our country’s most dynamic and fastest growing markets,” says Gary Duncan, Simon’s president of Premium Outlets and The Mills brands.
Nashville Premium Outlets will join Simon’s existing properties in the metro area, including Opry Mills and 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.
Indianapolis-based Simon’s stock price opened at $176 per share Wednesday, Jan. 29, up from $141.73 one year ago, an approximately 24 percent increase.
AJ Capital’s portfolio includes $5.3 billion of assets across 100 properties and 50 geographic markets. Notable brands include Graduate Hotels, Marine & Lawn Hotels & Resorts and Field & Stream Lodge Co.
— Kristin Harlow