SimonCRE Purchases 28 Acres to Develop 316,000‑Square‑Foot Farmington Crossings Retail Center in Southeast Missouri

Why It Matters

The development expands SimonCRE’s footprint in the Southeast Missouri market and underscores confidence in regional consumer spending, while the high pre‑lease rate reduces investment risk.

Key Takeaways

• 28‑acre site acquired for new 316k‑sq‑ft retail center.
• Anchor: 129k‑sq‑ft national big‑box retailer (undisclosed).
• Academy Sports occupies 55k‑sq‑ft, boosting sports retail mix.
• Burlington and multiple 22‑24k‑sq‑ft soft‑goods tenants signed.
• Center 68% pre‑leased, indicating strong tenant interest.

Pulse Analysis

SimonCRE’s purchase of a 28‑acre parcel near Farmington reflects a strategic push into secondary markets that offer lower land costs and untapped consumer bases. The site’s proximity to St. Joe State Park and a 75‑mile corridor to St. Louis positions the center to capture both local shoppers and weekend visitors, a demographic mix that supports higher foot traffic for open‑air formats. By targeting a region with modest competition from large‑scale malls, SimonCRE can leverage its development expertise to create a destination that fills a retail void while benefiting from favorable zoning and infrastructure.

The tenant roster combines a yet‑to‑be‑named national big‑box anchor with specialty retailers such as Academy Sports and Burlington, complemented by several 22,000‑to‑24,000‑square‑foot soft‑goods stores. This blend balances high‑draw anchors with niche offerings, a formula that has proven resilient amid e‑commerce growth. The 68 percent pre‑lease level at closing signals robust market appetite and mitigates financing risk, a critical factor as lenders scrutinize retail projects for occupancy performance. Moreover, the inclusion of multiple dining concepts aligns with the industry shift toward experience‑driven retail environments that encourage longer dwell times.

For investors, Farmington Crossings illustrates how well‑located, mixed‑use centers can deliver stable cash flows in a market often overlooked by larger developers. The project’s scale—over 300,000 square feet—provides economies of scale for property management while still catering to community‑level demand. As consumer preferences continue to favor convenience and experiential shopping, centers like Farmington Crossings are poised to capture incremental spend, supporting both local economic development and SimonCRE’s broader growth trajectory.

Deal Summary

SimonCRE has acquired roughly 28 acres of land in Farmington, Missouri, to develop the 316,064‑square‑foot open‑air Farmington Crossings retail center. The project will feature a 129,000‑square‑foot national big‑box retailer, a 55,000‑square‑foot Academy Sports store, and multiple national soft‑goods retailers, and is already 68% pre‑leased.