Shopping Centers

Simon posts strong quarter as mall occupancy strengthens

January 31, 2014
 IBJ Staff and Bloomberg News
Occupancy in Simon's malls climbed to 96.1 percent in the fourth quarter, up from 95.3 percent in the year-ago period as total sales per square foot increased to $582 from $568.
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Westfield center brings nearly $3.6MRestricted Content

January 25, 2014
Marcus & Millichap listed the property at 701 E. Main St., which brought nearly $3.6 million, or 95 percent of the asking price.
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New owners plan changes at Metropolis mall

January 23, 2014
Scott Olson
A joint venture involving a Memphis-based developer has purchased the shopping center in Plainfield and plans to invest millions to update the troubled property. A name change also is a possibility.
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Circle Centre nears deals for Burger Palace, Yard House, LA Fitness

January 3, 2014
Scott Olson
Three prominent restaurant chains, including one developed by Bobby Flay, and a health club franchise are eying the vacant space formerly occupied by Nordstrom in Circle Centre.
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Holiday sales at stores down for third consecutive week

December 23, 2013
Associated Press
Compared with last December, shoppers are more choosy this year and holding back on spending at brick-and-mortar locations. But even online sales are running below their expected growth rate.
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Pittsburgh grocer jumping into Indy market

December 21, 2013
Scott Olson
A major supermarket chain is hoping to expand into the Indianapolis market, starting with an anchor position in a mixed-use project under construction in Carmel.
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Indy-based Simon spinoff will include 13 Indiana centers

December 13, 2013
Scott Olson
The locally based retail giant confirmed Friday morning that its new spinoff will be headquartered in Indianapolis. Several of Simon's properties in the area will be among the new portfolio, including Clay Terrace in Carmel.
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Record shopping crowds over weekend, but spending falls

December 2, 2013
Associated Press
Retailers got Americans into stores during the start to the holiday shopping season. Now, they'll need to figure out how to get them to actually buy things.
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Shoppers flood stores in bargain-hunting spree

November 29, 2013
Bloomberg News
Faced with smaller crowds of less confident consumers, as well as six fewer days between Thanksgiving and Christmas than last year, retailers are pouring on margin-eating discounts to grab market share.
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Americans reluctant to spend on holidays without big deals

November 25, 2013
Associated Press
Since the recession began in late 2007, stores have had to offer financially-strapped Americans ever bigger price cuts just to get them into stores. But those discounts eat away at profit.
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Simon’s decision to open malls on Thanksgiving draws criticism

November 19, 2013
Scott Olson
An online petition drive launched by employees of stores in Simon properties urges the company to rethink a decision to open its malls at 8 p.m. on Thanksgiving. One petition so far has gathered nearly 18,000 signatures.
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Kite Realty raises $217.3M in secondary share offering

November 14, 2013
The local rest estate investment firm says it will use some of the proceeds to repay debt and the rest to fund part of its recent $307 million purchase of nine Southern retail properties.
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Kite Realty to pay $307M for 9 retail properties

November 6, 2013
The Indianapolis-based real estate firm said the properties total 2 million square feet and are mostly located in Florida, Georgia and Texas. The acquisition would bump the size and value of Kite's portfolio by about 20 percent.
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Marion County, Simon tangle over value of malls

October 29, 2013
Indiana Lawyer Staff, Dave Stafford
A years-long fight between Marion County and mall developer Simon Property Group Inc. has moved to the Indiana Tax Court as a judge weighs vastly different estimates of the values of Lafayette Square Mall and Washington Square Mall.
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Simon’s 20-year run has made investors a bundle

October 19, 2013
Greg Andrews
Simon Property Group now is the largest real estate company in the world and has a stock market value of $59 billion. That’s $6 billion more than Eli Lilly and Co., not that Simon's hypercompetitive CEO, David Simon, has noticed.
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Eight Mattress World locations to rebrand as PureSleep

October 18, 2013
Mason King
The Michigan-based owner of the Indiana mattress stores plans to take them upscale with a signature sleep-diagnostic system.
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City delays decision on Broad Ripple project

October 2, 2013
 IBJ Staff
Due to absences on the Indianapolis Metropolitan Development Commission, attorneys for both sides of the issue on Wednesday agreed to continue the controversial rezoning request to the group's Oct. 16 meeting.
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Analysts predicting slow holiday shopping season

October 1, 2013
 IBJ Staff and Associated Press
The holiday period is particularly important for retailers this year since spending was weak during the back-to-school shopping period, the second-busiest shopping months of the year.
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Mall owners go from first to last in REIT market

September 13, 2013
Bloomberg News
Shopping mall owners like Simon Property Group, the best-performing U.S. property stocks for four years, have tumbled to the worst as sluggish retail sales and limited opportunities to expand drive investors to look elsewhere for earnings growth.
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Simon suffers setback in antitrust suitRestricted Content

August 10, 2013
Cory Schouten
A federal lawsuit alleging monopolistic behavior by Simon Property Group Inc. likely will proceed to trial after a federal judge in South Bend denied a motion by the Indianapolis-based mall giant to dismiss the 3-year-old case.
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Centre Properties escapes foreclosure on 12 properties

July 30, 2013
Jeff Newman
Financial terms of the agreements, announced in a written statement, were not disclosed, but the mortgages involve tens of millions of dollars in debt on retail properties spread throughout the area.
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Aging east-side shopping center to be redeveloped

July 8, 2013
Scott Olson
A local developer has received city approval to rezone 10 acres at Fall Creek Parkway and East 56th Street as part of a plan to demolish a mostly vacant retail center and replace it with a 42,000-square-foot anchor grocery store and other shops.
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Circle Centre hanging in despite anchor vacancy

May 8, 2013
Scott Olson
The downtown mall last year saw its sales per square foot increase to $354, a 5.3-percent increase from 2011, according to an annual operating report it provides to the city. But non-anchor occupancy slipped below 90 percent.
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Kite buys Castleton Crossing center for $39M

May 1, 2013
The retail center, off East 82nd Street, near Interstate 465 and Allisonville Road, is fully leased and is anchored by HomeGoods, Burlington Coat Factory and Shoe Carnival.
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More demand for mall space boosts Simon earnings

April 26, 2013
Bloomberg News
The Indianapolis-based owner of retail centers raised its expectations for the fiscal year after reporting solid gains in occupancy, rent revenue and earnings for the first quarter.
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  1. I am so impressed that the smoking ban FAILED in Kokomo! I might just move to your Awesome city!

  2. way to much breweries being built in indianapolis. its going to be saturated market, if not already. when is enough, enough??

  3. This house is a reminder of Hamilton County history. Its position near the interstate is significant to remember what Hamilton County was before the SUPERBROKERs, Navients, commercial parks, sprawling vinyl villages, and acres of concrete retail showed up. What's truly Wasteful is not reusing a structure that could still be useful. History isn't confined to parks and books.

  4. To compare Connor Prairie or the Zoo to a random old house is a big ridiculous. If it were any where near the level of significance there wouldn't be a major funding gap. Put a big billboard on I-69 funded by the tourism board for people to come visit this old house, and I doubt there would be any takers, since other than age there is no significance whatsoever. Clearly the tax payers of Fishers don't have a significant interest in this project, so PLEASE DON'T USE OUR VALUABLE MONEY. Government money is finite and needs to be utilized for the most efficient and productive purposes. This is far from that.

  5. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.

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