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Mall owner Simon Property Group (NYSE: SPG) has entered into an agreement to purchase a development site in metro Nashville with plans to build a luxury shopping and lifestyle destination known as Nashville Premium Outlets. The 325,000-square-foot project will be situated at the intersection of I-65 and I-840 in the southern suburb of Thompson’s Station.

“This project represents a significant investment in our town and has the potential to enhance local amenities, create jobs and strengthen our economy,” says Thompson’s Station Mayor Brian Stover.