TL;DR
Simon Property Group proposes a mixed-use expansion of the Town Center at Boca Raton, replacing a former Sears with a hotel, residential units, and new retail space. The proposal spans 32 acres and includes an eight-story hotel, a seven-story rental building, and new retail buildings.
Simon Property Group wants to expand its 1.7 million-square-foot indoor mall in Boca Raton, Fla., by replacing a shuttered Sears department store with a mixed-use development featuring housing and a hotel.
The proposal would span roughly 32 acres adjacent to Simon’s Town Center at Boca Raton shopping mall, replacing a parking lot and the former Sears at 5900 West Glades Road. The Indianapolis-based mall operator purchased the Sears property for $23 million in 2025.
The department store, which closed its Boca Raton outpost in 2018, would be demolished. Plans call for the construction of an eight-story, 197-room hotel; a seven-story, 374-unit rental building; eight new retail buildings totaling 157,170 square feet; and an eight-story, 639-spot parking garage.
“This proposed transformation of a long-vacant space into a vibrant mixed-use destination will introduce an exceptional collection of luxury and premium retail and first to market dining offerings that further elevate the property’s position as South Florida’s premier luxury shopping and lifestyle destination,” Mark Silvestri, president of development at Simon Property Group, said in a statement.
Boca Raton officials have been reviewing the application since May, the South Florida Business Journal first reported. A representative for Simon did not immediately respond to a request for comment.
The proposal comes about eight months after Simon and partner Turnberry paid $131 million to purchase the 219,000-square-foot, open-air property from Seritage Growth Properties, the real estate investment trust launched after Sears declared bankruptcy and closed almost all of its stores. The REIT turned the shuttered department store attached to the Aventura Mall into a mixed-use development, which houses the office of Palantir, the controversial analytics software company.
Further expanding its South Florida footprint, Simon bought the mall at Brickell City Centre in Miami for $512 million last year.
In this story
This story was originally published by Julia Echikson in Commercial Observer on June 30, 2026. Burnaze summarizes and links to the original reporting.
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