Simon Property Group said Oct. 30 that a subsidiary had agreed to buy University Village, a Seattle retail and dining center with more than 100 businesses near the University of Washington.
The center dates to the 1950s and includes national retailers, local shops and restaurants. Simon named Apple, RH Gallery, Crate & Barrel, Sézane, Lululemon, Aritzia, Vuori and Din Tai Fung among its tenants.
Susie Plummer, University Village’s partner and general manager, said the center now totals nearly 600,000 square feet, up from about 300,000 more than 30 years ago. A 2020 commercial mortgage prospectus filed with the Securities and Exchange Commission lists 597,635 square feet of net rentable area. That figure comes from loan materials and is not a new measurement for the acquisition.
Eli Simon, Simon Property Group’s CEO, president and chief operating officer, said the center fits the company’s interest in distinctive properties in markets it considers strong. “University Village is an exceptional retail destination, and we are pleased to welcome it to our portfolio,” he said. The company said it wants shoppers, retailers and the Seattle community to share in the center’s continued success.
Simon did not disclose a purchase price or identify the seller. The company expects to complete the transaction in the fourth quarter of 2026, pending customary closing conditions.
