INDIANAPOLIS — Shopping center industry pioneer and Chairman Emeritus of Simon Property Group Melvin Simon has passed away at the age of 82.
A native of the Bronx, New York City, Simon first to came to Indiana in 1954 while serving with the U.S. Army. After his discharge, Simon worked as a leasing representative with Indianapolis shopping center developer Albert Frankel Co. In 1960, Simon created Melvin Simon & Associate with his brothers, Herbert and Fred. Later renamed Simon Property Group, the company would go on to great success, including a 1993 initial public offering considered the largest in the history of the REIT industry.
In 2003, Simon was named a lifetime trustee of the Urban Land Institute; he was also a former trustee the International Council of Shopping Centers, and held numerous other awards and honors in the real estate industry. In his personal life, Simon worked with organizations serving underprivileged youth, the arts, social services and education. In 1983, Simon also purchased the Indiana Pacers basketball team with his brother, Herbert.
Simon is survived by Bren, his wife of 40 years; his children, Deborah, Cynthia, David and Tammy; his 10 grandchildren; and his brothers, Fred and Herbert. He was preceded in death by his son, Joshua.