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Simon Buys Mall at Oyster Bay Site from Taubman After a Decade-Long Battle

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In a move that should resolve a decade-long development battle, Simon Property Group bought a 39-acre land site in Syosset from rival Taubman Centers, Bloomberg reports. The sale was part of two transactions, including Simon's purchase of Arizona Mills in Tempe, valued at roughly $300 milllion. Taubman has been trying to build an upscale enclosed regional mall on the site since at lease the late 1990s, but faced strong community opposition that was partially driven by Simon's ...

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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