Simon Property Group intends to expand its 1.7 million square foot shopping centre in Boca Raton, Florida, by replacing a closed Sears department store with a mixed-use development comprising residential units and a hotel. The project spans approximately 32 acres adjacent to Simon's Town Center at Boca Raton and will replace a car park as well as the former Sears building at 5900 West Glades Road. The Indianapolis-based shopping centre operator acquired the Sears property in 2025 for 23 million USD.
The department store, whose Boca Raton branch closed in 2018, is to be demolished. Plans include the construction of an eight-storey hotel with 197 rooms, a seven-storey rental building with 374 residential units, eight new retail buildings totalling 157,170 square feet, and an eight-storey car park with 639 spaces.
Mark Silvestri, President of Development at Simon Property Group, stated that this planned transformation of a long-vacant area into a vibrant mixed-use destination would introduce an exceptional collection of luxury and premium retail offerings as well as first-time dining concepts. This would further strengthen the property's position as a leading luxury shopping and lifestyle destination in South Florida. Boca Raton authorities have been reviewing the application since May, as first reported by the South Florida Business Journal. A representative for Simon did not immediately respond to a request for comment.
The venture follows approximately eight months after Simon and its partner Turnberry acquired the 219,000 square foot open-air site from Seritage Growth Properties for 131 million USD. Seritage Growth Properties is a real estate investment trust that was formed after Sears filed for bankruptcy and closed nearly all its stores. The REIT had converted the closed department store next to Aventura Mall into a mixed-use project that houses the office of analytical software company Palantir.
To further expand its presence in South Florida, Simon acquired the shopping centre at Brickell City Centre in Miami for 512 million USD last year. The current development in Boca Raton underlines the strategic alignment of Simon Property Group to revitalise and upgrade larger retail spaces through the integration of residential and hotel segments. These projects are part of a broader trend in the US retail sector to convert former department store spaces into mixed-use properties to enhance their attractiveness and profitability.
