Simon subsidiary agrees to acquire University Village shopping center in Seattle

Simon Property Group, through a subsidiary, has agreed to acquire Seattle’s University Village, a nearly 600,000-square-foot open-air shopping center near the University of Washington. The center, which opened in 1956, has more than 100 businesses, including national retailers and locally owned shops and restaurants. The transaction is expected to close in the fourth quarter of 2026, subject to customary conditions; the sale price was not disclosed. Simon said the acquisition fits its strategy of owning distinctive retail properties in strong markets, while University Village’s management described the center as a community gathering place built alongside local and regional businesses.