Simon adds to its shopping list.

• Position: CHARLOTTE REGION

Simon Property Group increases its inventory of major shopping centers in the region with Charlotte Premium Outlets, which was scheduled to open in late July. The 400,000-square-foot center is a 50/50 partnership of the Indianapolis-based real-estate company and Greensboro-based Tanger Factory Outlet Centers. Tanger supervised site development and construction, while Simon handles management and marketing. The shopping center's 100 stores, anchored by Saks Fifth Avenue OFF 5TH, are expected to employ about 900 people. Simon is the world's largest retail real-estate company with a market value of $51.9 billion as of July 8. Tanger, which has a market cap of $3.3 billion, owns 44 outlet centers in the U.S. and Canada. Simon owned 327 properties in 37 states and worldwide before it spun off 98 smaller malls and strip centers into a separate company, Washington Prime Group, in May. While best known for high-end malls such as Charlotte's SouthPark, Simon gets a third of operating income from its outlet centers and its chain of Mills-brand malls, which offer a mix of stores, restaurants, movie theaters and other entertainment venues. The company has opened 24 outlet centers since 2000 and has three under construction in the U.S. and Canada.

CHARLOTTE--Bank of America laid off 540 employees here in its Legacy Asset Servicing division. The unit was created in 2011 to handle 1.4 million mortgage loans that were at risk of foreclosure. Fewer delinquent mortgages were cited as the reason for the job cuts.

CHARLOTTE -- Starwood Capital Group bought Northlake Mall from Bloomfield Hills...