Simon Property Group, which owns several malls in Metro Atlanta, is shifting ownership of one of its holdings near Mall of Georgia.
The Atlanta Journal-Constitution reported Simon, which is based in Indianapolis, has transferred ownership and management of Mall of Georgia Crossing to a new subsidiary, Washington Prime Group. The AJC said 44 malls and 54 strip centers have been shifted to the new company. Included in that group is Northlake Mall in DeKalb County.
Mall of Georgia is located on Woodward Crossing Boulevard, across the street from the Mall of Georgia, which also is owned by Simon. Simon also owns Sugarloaf Mills in Lawrenceville.
Simon said the move allows it to concentrate on its largest properties, while Washington Prime Group will focus on the smaller ones.