Nearby Charlotte mall owner buys Phillips Place in SouthPark expansion move
Phillips Place, the mixed-used shopping plaza in SouthPark, has a new owner. One who’s very familiar with the neighborhood.
Simon Property Group completed its purchase of Phillips Place, Simon announced Tuesday in a news release. Simon, through an affiliate company SPC Retail LLC, paid $144.8 million for the site, according to Mecklenburg County Records.
The acquisition adds more SouthPark property to Simon’s belt.
Simon owns SouthPark Mall, Charlotte’s largest shopping center. And in 2023, Simon purchased Hampton Inn & Suites at Phillips Place for $42 million. The 124-room hotel is steps away from SouthPark Mall.
Simon also owns Concord Mills and Charlotte Premium Outlets in Charlotte’s Steele Creek area.
It’s unclear what Simon’s plans are for Phillips Place. A spokesperson for the mall could not immediately be reached for comment.
But according to the news release, Simon will eventually “elevate” the site with possibly new shops and “ongoing investments.”
About Phillips Place
The retail, residential and entertainment plaza opened in 1997. It’s an open-air European village-style retail center with over 134,000 square feet of space.
In recent years, Phillips Place has pushed to bring more luxury brands to Charlotte.
Ralph Lauren opened its first North Carolina store at the center in 2023. Other high-end stores include Alice + Olivia, Veronica Beard and RH Gallery, which has a rooftop restaurant.
This story was originally published November 18, 2025 at 11:08 AM with the headline "Nearby Charlotte mall owner buys Phillips Place in SouthPark expansion move."
