Simon Names Velda Turan Vice President Of Luxury Leasing

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May 03, 2016, 06:55 ET

INDIANAPOLIS, May 3, 2016 /PRNewswire/ -- Simon, a global leader in retail real estate, continues to enhance the company's commitment to its luxury portfolio and luxury brands with today's announcement that Velda Turan is joining the group as Vice President of Luxury Leasing and will be based in the Company's New York City offices.

Turan has distinguished herself in retail leasing over the last decade, working for two public retail real estate REIT's. She comes to Simon with a vast knowledge of the luxury retail market and experience with shopping centers on both coasts of the United States.

Turan, who starts work at Simon on May 10^th, is a 1999 graduate of Indiana University with a Bachelor of Science in Public Affairs. She will report to Vicki Hanor, Simon's Executive Vice President and Managing Director of Luxury Leasing.

Hanor said, "Velda has a stellar reputation in our industry and is highly respected among the luxury brands. We are thrilled to welcome her to our team and believe she will continue to solidify our relationships with the luxury brands."

"I am confident I will play a key role in executing on Simon's commitment to creating world-class luxury shopping destinations by capitalizing on the relationships and experiences I have gained in our industry," Turan said. "Vicki is building a great team and I'm proud to be a part of it."

Turan's arrival coincides with Simon's commitment to expand its brands in its luxury portfolio. At the world-famous Galleria in Houston, Saks Fifth Avenue opened a new 200,000 square foot flagship store last week. Simon will convert the existing Saks store into an 110,000 square foot luxury retail extension featuring 35 new stores. Additional components of the renovation include the construction of a free-standing retail building, referred to as 'The Jewel Box,' which is home to The Webster, a luxury fashion boutique that opened earlier this year.

The move comes on the heels of Simon adding another luxury jewel to its portfolio with this month's acquisition of The Shops at Crystals located in the heart of the Las Vegas strip. Boasting more than 324,000 square feet of space, it is anchored by 10 luxury flagship stores including Louis Vuitton, Gucci, Dolce & Gabbana, Tom Ford, Prada, Fendi and Tiffany & Co., as well as 30 unique-to-market luxury retailers including Celine, Saint Laurent and Richard Mille.

The Southeast's top luxury shopping destination, Simon's Phipps Plaza in Atlanta's Buckhead district, recently completed a new entrance featuring an elegant façade of storefronts representing some of the coveted brands that call Phipps Plaza home including Jeffrey, Versace, Tiffany & Co., Giorgio Armani, BOSS Hugo Boss and Bottega Veneta. The new Peachtree Road entrance also features a backlit glass curtain wall that creates a dynamic gateway to this iconic property, both day and night. Interior improvements at Phipps Plaza include luxury soft seating and lounging areas, upgraded LED lighting, marble accents, and the installation of a hotel-like concierge center.

On the East Coast, The Shops at Riverside located in Hackensack, New Jersey has embarked on an extensive redevelopment that will offer a compelling luxury shopping, dining and entertainment experience, cementing its place as the center of Bergen County luxury retail. The transformed Shops at Riverside will be anchored by 'The Collection at Riverside,' a distinctive shopping experience designed for today's luxury shopper. 'The Collection at Riverside' will feature a tranquil, elliptical concourse with soaring, two-level storefronts, perfect for showcasing 25 of the world's most exclusive and sought-after brands. Dramatic 25-foot glass skylights will create an abundance of natural light and an 'open-concept' atmosphere to complement the natural stone flooring and modern architectural details.

About Simon
Simon is a global leader in retail real estate ownership, management and development and an S&P100 company (Simon Property Group, NYSE:SPG). Our industry-leading retail properties and investments across North America, Europe and Asia provide shopping experiences for millions of consumers every day and generate billions in annual retail sales. For more information, visit simon.com.

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