Shopping Centers

Simon Property CEO says ‘no deal’ in Australia after report

September 9, 2014
Bloomberg News
The Australian reported that Indianapolis-based Simon may bid for CFS Retail, potentially keeping CFS’s premium shopping centers and selling second-tier properties.
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Shapiro's to open restaurant in Fashion Mall

September 4, 2014
Jeff Newman
The 4,200-square-foot restaurant will be about 60 percent smaller than Shapiro’s downtown flagship location, but will carry most of the same menu items the deli is known for, plus some new ones.
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Simon hands over Washington Square to lender

August 22, 2014
Scott Olson
Simon Property Group Inc. has given up on the struggling Washington Square Mall, turning over control to a lender.
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Simon suing ShopperTrak over use of mall cameras

August 2, 2014
Scott Olson
A subsidiary of Simon Property Group Inc. is suing the world’s largest retail traffic counter, claiming it’s unjustly profiting from cameras installed in stores at Castleton Square Mall.
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Love Culture's plans approved over Simon's objection

August 1, 2014
Bloomberg News
Love Culture Inc., the bankrupt clothing chain, won court permission to hold expedited store-closing sales, over the objection of unsecured creditors, including Indianapolis-based Simon Property Group Inc.
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Shopping mall owner offers $5.6B for competitor

July 29, 2014
Bloomberg News
Klepierre SA, which is partly owned by Indianapolis-based Simon Property Group, has offered to buy Dutch competitor Corio NV to solidify its position as Europe’s second-largest publicly traded-shopping mall operator.
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Simon sues insurance companies over fatal escalator accident

June 27, 2014
Scott Olson
The mall manager has filed a lawsuit against two insurance companies claiming they should have covered its loss stemming from a teenager's escalator fall in 2009.
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Washington Prime buys Clay Terrace stake from Lauth

June 17, 2014
 IBJ Staff
Simon Property Group spinoff Washington Prime Group on Monday announced deals worth about $326 million involving at least seven shopping centers, including Clay Terrace in Carmel.
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Shares of Simon spinoff dip in early trading

May 29, 2014
 IBJ Staff
Simon Property Group has revised its earnings forecast with the Thursday launch of spinoff firm Washington Prime Group.
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Shares of Simon Property spinoff to begin trading

May 27, 2014
Washington Prime Group Inc., listed under the "WPG" ticker symbol, will begin trading Thursday. The new real estate investment trust will own 98 retail properties, including 13 in Indiana.
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Simon partner looks to buy out co-owners in expansion drive

May 19, 2014
Bloomberg News
Paris-based Klepierre SA, whose largest shareholder is Simon Property Group Inc., plans to spend as much as $686 million a year on expansion.
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Circle Centre reports higher occupancy, lower revenue

May 5, 2014
Scott Olson
New tenants including Granite City Food and Brewery and Firehouse Subs helped boost Circle Centre mall’s occupancy to nearly 90 percent in 2013, but sales per square foot and revenue slipped.
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Finish Line increases stake in running division

April 25, 2014
The Indianapolis-based athletics retailer bought a larger share in the Running Specialty Group, a chain that operates 49 stores in 11 states.
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Simon posts strong quarter on higher mall occupancy

April 22, 2014
Scott Olson
The nation's largest mall owner reported a 16.1-percent increase in first-quarter funds from operations as demand for retail space in outlet centers climbed.
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Kite sells three retail properties for $35.2 million

April 9, 2014
Indianapolis-based Kite Realty Group Trust, which is in the midst of a major merger, had decided that the three properties scattered across the country were "non-core assets."
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CEO of Simon spinoff to run company from D.C. perch

March 29, 2014
Greg Andrews
Simon Property’s decision to name the new business Washington Prime had fueled speculation the company would end up based in the D.C. area. However, that apparently is not the case.
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Shadeland Station shopping center bought for $9.5M

March 28, 2014
New York-based Time Equities Inc. acquired the northeast-side property that is anchored by a Marsh supermarket and 85-percent occupied.
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Finish Line reports rising quarterly, annual earnings

March 28, 2014
A jump in same-store sales and improvements to the sports-apparel retailer's website helped the company report a better-than-expected profit in its fiscal fourth quarter.
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Simon plucks in-house execs for spinoff firm

March 24, 2014
 IBJ Staff
Simon Property Group Inc. is reaching into its own stable of executives to stock the C-suite of its publicly traded spinoff for retail strip centers and smaller enclosed malls.
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Washington Square’s woes leave it at bottom of heapRestricted Content

March 15, 2014
Greg Andrews
The east-side mall's occupancy has fallen to 43.8 percent, down from was 86.6 percent in 2011 and 77.2 percent in 2012.
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Former Simon exec sentenced in mail fraud scheme

March 3, 2014
Scott Olson
Carmel resident Mark Palombaro received a sentence of 18 months in a federal prison for perpetrating a construction kickback scheme in Pennsylvania that prosecutors say netted him $766,000.
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Indiana mall's 'hoodie' signs offend some patrons

March 2, 2014
 Associated Press and IBJ Staff
The signs at the entrances of the Mounds Mall in Anderson state that, "For the safety & well-being of everyone, please lower your hoodie."
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Simon names spinoff Washington Prime Group, picks CEO

February 25, 2014
 Bloomberg News and IBJ Staff
Simon Property Group Inc. has chosen the name for its planned spinoff of strip shopping centers and smaller enclosed malls, and hired Mark Ordan to be the new company’s CEO.
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Kite paying $1.2B for rival real estate developer

February 10, 2014
 IBJ Staff
Kite Realty Group Trust will remain in Indianapolis after the purchase, which will balloon its holdings to 131 properties covering 20 million square feet of shopping center space in 26 states.
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Longtime Simon Property CFO stepping down

February 3, 2014
Stephen Sterrett joined the predecessor to Simon Property Group Inc. in 1989, before the retailing giant went public in 1993 and eventually became the world's largest mall developer.
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