The New Anchor Tenant: Simon and Electrify America Turn Parking Lots Into Power Plants

With 500 ultra-fast chargers now live, the retail giant is betting that the battle for foot traffic will increasingly be fought with kilowatts, not just food courts.

INDIANAPOLIS — For decades, shopping centers have competed on a familiar set of variables: parking ratios, anchor tenants, and dining options. Now, the metrics are shifting. As electric vehicle adoption accelerates, malls are increasingly competing on charging speed.

In a milestone that signals the maturation of EV infrastructure as a commercial real estate asset, Electrify America and mall owner Simon announced this week that their collaboration has surpassed 500 "Hyper-Fast" chargers. The network now spans 105 retail destinations across 27 states and two Canadian provinces, effectively turning parking lots into distributed fueling stations.

Since the partnership began in 2018 with a single site at Gulfport Premium Outlets in Mississippi, the program has delivered more than 189 gigawatt-hours of energy—enough to power roughly 549 million electric miles. But for the commercial real estate sector, the significance isn't just in the energy dispensed; it’s in the validation of a new business model for Class A retail.

The Dwell Time Equation

The collaboration capitalizes on a natural synergy between charging physics and retail behavior. Most of the newly installed units offer power levels up to 350 kilowatts (kW), capable of charging compatible EVs from 10% to 80% in roughly 20 to 30 minutes.

For Simon, this timeline aligns perfectly with the "dwell time" of its properties. Regional malls and premium outlets are designed to retain shoppers for 60 to 90 minutes—ample time for a deep charge while customers browse or dine.

"This is no longer a niche amenity," says one industry analyst. "For landlords, this is about capturing the customer. If a driver has to choose between a mall with 350-kW charging and one without, the choice is made before they even leave the driveway."

For Electrify America, the deal solves a persistent infrastructure challenge. Rather than negotiating a patchwork of one-off ground leases in isolated corners of industrial parks, the network gains access to well-lit, secure, and amenity-rich sites with direct highway access. It is a scalable template that creates immediate density.

From 'Nice-to-Have' to Critical Infrastructure

The expansion underscores a broader shift in tenant and consumer expectations. Just as high-speed Wi-Fi evolved from a perk to a utility, reliable fast charging is becoming a baseline requirement for premier retail destinations.

This creates a new risk profile for second-tier properties. As major hubs like Simon’s reinforce their dominance with high-power charging, older or less capitalized centers risk falling further behind. Owners facing capital constraints may soon be forced to choose: partner with a charge point operator (CPO) and invest in necessary grid upgrades, or watch affluent traffic bleed away to better-equipped competitors.

The implications extend to the urban grid. As EVs proliferate among households without private garages, well-located retail centers are quietly morphing into de facto "urban charging depots." In this context, the mall is not just a place to buy clothes; it is an essential node in the local energy network.

Collaboration Over Lease

For other real estate investment trusts (REITs), the Simon-Electrify America model offers a lesson in deal structure. The partnership is positioned as a strategic collaboration rather than a simple landlord-tenant ground lease. Both parties share an interest in driving utilization and foot traffic, creating a feedback loop where retail draws drivers, and charging draws shoppers.

However, the rollout is not without friction. Electrify America has faced scrutiny regarding reliability and pricing complexity in the past. The concentrated nature of the Simon portfolio—serving repeat visitors in high-visibility locations—raises the stakes. These sites essentially serve as a test bed for the network's ability to deliver the seamless "plug and charge" experience that mass-market adoption requires.

Looking ahead, the partnership points toward a more integrated energy future. Mixed-use developers are already eyeing the next phase: combining high-power charging with solar canopies and on-site battery storage. Such additions would allow landlords to manage peak energy loads and transform their parking fields from passive asphalt into revenue-generating energy assets.