The property in Panama City Beach is basically empty. It’s a nice walking park and parking lot.
But that's soon going to change, according to Steven Haemmerle of the St. Joe Company. “Simon Property Group is, in our opinion, the premiere developer on a national level of retail properties."
The Indianapolis-based Simon owns and operates more than 240 malls and retail centers in 38 states and Canada.
Included in its list of properties are:
- The Mall of the Americas in Minnesota
- Lenox Square Mall
- The Mall of Georgia, both in Atlanta
- Cordova and University Malls in Pensacola
Exactly which stores are going in at Pier Park hasn't been decided. What is known is it will be a combination of retail stores, restaurants and entertainment.
St. Joe officials say Simon Property has only signed a letter of agreement. Neither party has set a construction timetable.