{"url":"https://newsforagent.com/news/2026-11-12/simon-sagefield-groundbreaking-tennessee","markdown_url":"https://newsforagent.com/news/2026-11-12/simon-sagefield-groundbreaking-tennessee.md","title":"Simon Breaks Ground on 100-Acre Sagefield in Tennessee","headline":"Simon Property Group Starts 100-Acre Sagefield Development in Thompson's Station","description":"Simon Property Group broke ground on Sagefield, a 100-acre open-air destination in Thompson's Station, Tennessee.","section":"Expansion","published_at":"2026-11-12T20:38:58+00:00","modified_at":"2026-11-12T20:38:58+00:00","author":"News Desk","key_takeaways":["Simon Property Group broke ground on Sagefield, a 100-acre open-air destination at Interstate 65 and Interstate 840 in Thompson's Station, Tennessee.","Sagefield is planned to include approximately 80 boutiques and brands, restaurants, an organic gourmet market and wellness concepts, with green space covering about 60% of the property.","The project is designed by Gensler and SWA Group and built with Arco Murray, with an opening planned for late 2028."],"companies":[{"name":"Simon Property Group","is_primary":true,"profile_url":"https://akta.pro/company-profiles/0000h2g/simon-property-group","website":"https://www.simon.com"},{"name":"SWA Group","is_primary":false,"profile_url":"https://akta.pro/company-profiles/0008tqf/swa-group","website":"http://www.swagroup.com"},{"name":"Gensler","is_primary":false,"profile_url":"https://akta.pro/company-profiles/0000l2g/gensler","website":"http://www.gensler.com"}],"source":{"publisher":"PR Newswire","title":"Simon® Breaks Ground on Sagefield™, Bringing Curated Retail, Distinctive Dining, and Design Excellence to South Nashville","url":"https://www.prnewswire.com/news-releases/simon-breaks-ground-on-sagefield-bringing-curated-retail-distinctive-dining-and-design-excellence-to-south-nashville-302938354.html"},"other_sources":[],"tags":["Expansion","Simon Property Group","SWA Group","Gensler"],"body_markdown":"Simon Property Group broke ground on Sagefield, a 100-acre open-air destination at the crossroads of Interstate 65 and Interstate 840 in Thompson's Station, Tennessee, with an opening planned for late 2028. The company announced the groundbreaking on November 12, 2026, according to [PR Newswire](https://www.prnewswire.com/news-releases/simon-breaks-ground-on-sagefield-bringing-curated-retail-distinctive-dining-and-design-excellence-to-south-nashville-302938354.html).\n\n## What Simon Is Building at Sagefield\n\n[Simon Property Group](https://akta.pro/company-profiles/0000h2g/simon-property-group) is a real estate investment trust that owns shopping, dining, entertainment and mixed-use destinations. Sagefield is planned to feature approximately 80 boutiques and iconic brands, best-in-class restaurants, an organic gourmet market and multiple wellness concepts. Green space will cover approximately 60% of the property, with miles of nature trails, walkways and water features.\n\nMark Silvestri, President of Simon Development, said: \"At Simon, we believe the most meaningful places are the ones that bring people together.\" He added that Sagefield \"is a place designed with intention, rooted in its surroundings, and created for the community.\" The development is expected to create thousands of construction jobs and hundreds of permanent jobs. Arco Murray is the construction collaborator, and [Gensler](https://akta.pro/company-profiles/0000l2g/gensler) and [SWA Group](https://akta.pro/company-profiles/0008tqf/swa-group) designed the project. SWA designed a modular shade and lighting system installed along a 15-block stretch of Texas Avenue in Houston that reduced ground temperatures by an average of 10°F, with up to 30°F in some spots, according to Dezeen.\n\n## Simon's Property Portfolio and Credit Facility\n\nSimon operates 254 properties spanning 206 million square feet across North America, Europe and Asia, according to akta.pro [company records](https://akta.pro/company-data). The same records show the company amended, restated and extended its $5.0 billion multi-currency unsecured revolving credit facility in March 2026, with maturity extended to June 30, 2030 and an option to extend to June 30, 2031, carrying a reduced interest rate of SOFR plus 65 basis points.\n\n## Deals Preceding the Groundbreaking\n\nOn October 30, 2026, a Simon Property Group subsidiary agreed to acquire University Village, an open-air retail center in Seattle of about 600,000 square feet near the University of Washington, with closing expected in Q4 2026 subject to customary conditions, according to TradingView. On November 10, 2026, Simon Property Group and Prime Property Fund were closing a $555 million CMBS package to refinance Dadeland Mall in Miami-Dade County, according to Commercial Observer.\n\n## Sagefield's Opening Timeline\n\nSimon plans to share updates over the next several months on project phasing, infrastructure milestones and upcoming retailer announcements, leading toward a grand opening celebration. Sagefield is scheduled to open in late 2028.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}