From the New York November issue: While many iPhone applications go viral, one app can boast that it extends across roughly 263 million square feet — of retail space.
Simon Property Group, the biggest retail property owner nationwide, with an interest in 393 real estate properties across the country, launched its iPhone app last month, allowing users of an iPhone, iPad or iPod Touch access to promotions, information on store openings and event announcements.
And while the iPhone app phenomenon is hardly new to the real estate industry, Retail Traffic Magazine reported that Simon is just the second major retail real estate investment trust to launch a mobile app based on its properties (the other is CBL & Associates). [more]