Many of you have heard of the Mall of America. Simon Property Group (SPG) ownes most of this wildly successful shopping mall. SPG also ownes 40% of the rest of the mall space in the nation; physical mall space that it. |
But the true "Mall of America" will be the convergence of the physical and the virtual. And SPG currently has the foot traffic and the marketing to push click traffic to their sites. They don't have much for sites now: www.mallofamerica.com is a joke. The most underutilized shopping portal on the net. But they are working on it. See the following press release:
Microsoft and other big players are rumored to be the driving technology and online marketing gurus behind this venture. If they pick the right partner, it will pay off big for SPG. SPG will work a nice transaction percentage into their physical/virtual space leases. They can control the online "Mall of America".
Lets keep a close watch on what SPG and their partners are doing.