Simon Property Group, the world’s largest shopping mall owner, plans to shut down all of its retail properties Wednesday at 7 p.m. and leave them closed until March 29.
The Indianapolis-based company said Wednesday that it made the decision “after after extensive discussions with federal, state and local officials and in recognition of the need to address the spread of COVID-19.”
Simon owns or has a stake in more than 200 retail properties in the United States, including local centers Castleton Square, Greenwood Park, Fashion Mall at Keystone, Hamilton Town Center and Circle Centre.
“The health and safety of our shoppers, retailers and employees is of paramount importance and we are taking this step to help reduce the spread of COVID-19 in our communities,” David Simon, Simon’s CEO said in written remarks.
Simon shares slid 22% on Wednesday afternoon, to $45.90 each, amid another tough day for the stock market.