Simon DeBartolo Picks Up Laguna Hills Mall
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LAGUNA HILLS — Shopping center giant Simon DeBartolo Group, owner of the Mission Viejo Mall, has now purchased the Laguna Hills Mall, placing two competing retail centers under one ownership umbrella.
The Indianapolis-based company, which owns 200 shopping centers in 34 states, has for some time been looking to expand in Southern California, a spokeswoman for the company said Wednesday.
Simon DeBartolo is part owner of the Ontario Mills mall, which opened last fall. The company also manages the Promenade shopping center in Woodland Hills.
Spokeswoman Billie Scott said the real estate company has no concerns about competition between the two South Orange County malls. “We have multiple properties in a number of markets across the country and it’s really not a problem,” she said.
The company’s purchase of the 866,000-square-foot Laguna Hills Mall was part of a larger $1.2-billion acquisition involving a dozen shopping centers.
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