Simon Property acquires Paragon Outlets shopping center in Grand Prairie

Simon Property Group, which owns both North East Mall and Grapevine Mills in Tarrant County, has  acquired the new Paragon Outlets Grand Prairie shopping center.

The 417,000-square-foot center, located at Interstate 20 and Texas 360, is home to more than 100 leading designer and name-brand outlet stores including Saks Fifth Avenue OFF 5TH, Bloomingdale's The Outlet Store and Coach. It opened in August.

In a press release, Simon said it has assumed management responsibility for the center, which will be renamed Grand Prairie Premium Outlets.

Simon also acquired a Paragon outlet mall in Livermore, Calif.

-- Steve Kaskovich