A subsidiary of the real estate giant Simon Property Group has entered into an agreement to purchase University Village.
The nearly 600,000sq ft open-air shopping centre in Seattle is located north of downtown and near the University of Washington.
First opened in 1956, University Village has been owned by Stuart Sloan, businessman and former owner and chairman of grocery chain QFC, since 1993. The transaction is expected to close in the fourth quarter of 2026, subject to the satisfaction of customary closing conditions. A sale price was not disclosed.
The property features more than 100 tenants, including Apple, RH Gallery, Crate & Barrel, Room & Board, Sézane, Lululemon, Aritzia, Vuori and Din Tai Fung, as well as local boutiques, restaurants and other businesses.
“More than 30 years ago, we set out to create more than a retail space – we envisioned Seattle’s finest neighbourhood gathering place, where local and regional small businesses could thrive alongside quality national brands and families could come together,” said Susie Plummer, Partner and General Manager of University Village. “Looking back, we are deeply grateful.”
Headquartered in Indianapolis, Simon is a real estate investment trust engaged in the ownership of premier shopping, dining and entertainment mixed-use destinations, with roughly 200 properties across North America, Europe and Asia.
