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Shopping Centers
Simon says new General Growth plan is less uncertain
March 11, 2010
Bloomberg NewsA new plan by mall owner General Growth Properties Inc. to exit bankruptcy resolves some uncertainty rival bidder Simon Property
Group Inc. has criticized, Simon CEO David Simon says.
MoreGeneral Growth investors add $3.93B to Brookfield plan
March 8, 2010
Bloomberg NewsThe cash payment matches a provision of a competing bid by Indianapolis-based Simon Property Group Inc., which has offered
to buy its biggest competitor for more than $10 billion and pay all unsecured creditors.
MoreRegulators take interest in Simon's play for Prime Outlets
February 27, 2010
Bloomberg NewsThe Federal Trade Commission has contacted Gap Inc. about Simon Property Group's proposed acquisition of Prime Outlets
Acquisition Co.
MoreGeneral Growth seeks to block lawsuit over Simon bid
February 26, 2010
Bloomberg NewsGeneral Growth Properties Inc. asked a judge to block a shareholder lawsuit accusing its board of improperly rejecting an
acquisition bid from Simon Property Group Inc.
MoreBattle for General Growth biggest real estate fight in years
February 25, 2010
Bloomberg NewsThe battle for General Growth Properties Inc., owner of more than 200 U.S. malls, is turning into the biggest real estate
skirmish since the sale of Sam Zell's Equity Office Properties Trust.
MoreBrookfield deal doesn't put Simon out of General Growth game
February 25, 2010
Bloomberg NewsThe bid by Simon Property was an "initial salvo" and the Brookfield plan likely will prompt a new offer from the Indianapolis-based
mall owner, real estate research analyst says.
MoreBrookfield after 30-percent stake in General Growth, source says
February 23, 2010
Bloomberg NewsThe plan by Toronto-based Brookfield Asset Management would give General Growth Properties a higher valuation than a $10 billion
takeover bid by Simon Property Group.
MoreSimon's $10 billion bid for bankrupt General Growth roils retailing
February 20, 2010
Cory SchoutenSimon Property Group Inc. already is known for playing hardball with mall tenants over rent. So national retailers like The
Gap Inc. and Limited Brands Inc. will be bracing for future lease negotiations if the nation's largest mall owner succeeds
in a $10 billion bid to take over its nearest rival, the bankrupt General Growth Properties Inc.
MoreBanks suing Broadbent, pushing one strip center into bankruptcy
February 13, 2010
Peter SchnitzlerLocally based Broadbent Co.’s legal battles with lenders have escalated, pushing one of its 34 strip malls into bankruptcy
and prompting Huntington National Bank and PNC Bank to sue to collect principal owed on loans tied to four more.
MoreUPDATE: Simon shares climb after profit beats estimates
February 5, 2010
Bloomberg NewsThe company raised its average rent per square foot at both regional malls and outlet centers even as U.S. consumer spending
flagged.
MoreSimon Property's quarterly profit tumbles
February 5, 2010
Bloomberg NewsQuarterly revenue remained flat at about $1 billion, but profit fell 41 percent, from $196.4 million to $115.9 million.
MoreSimon, partner selling European malls for $981M
February 5, 2010
Bloomberg NewsUnibail-Rodamco SE, Europe's biggest shopping-center owner, has agreed to pay Simon Property Group and Ivanhoe Cambridge Inc.
$981 million for stakes in seven malls in France and Poland.
MoreFinish Line forfeits incentive deal
January 20, 2010
Cory SchoutenMall retailer The Finish Line Inc. has agreed to forfeit a potentially lucrative tax-abatement deal because it won't be able
to meet a 2008 promise to create almost 200 jobs and invest $24 million at its Indianapolis headquarters.
MoreGeneral Growth deal would extend Simon's mall dominance
December 12, 2009
Cory SchoutenWall Street analysts have described the potential sale of Chicago-based General Growth Properties as a “once-in-a-lifetime
opportunity” for a company to make “the deal of the decade” in the shopping-mall business.
MoreUPDATE: Simon stock jumps on $2.3B acquisition
December 8, 2009
Cory SchoutenAdding the 22-mall portfolio of Baltimore-based Prime Outlets will give Simon a total of 63 outlet malls with more than 25
million square feet of space.
MoreGeneral Growth's refinancing plan could thwart Simon
December 3, 2009
IBJ Staff and Associated PressGeneral Growth Properties Inc., the nation's second-largest shopping mall operator, said lenders have agreed
to restructure about $9.7 billion in debt. The agreements could put a damper on the acquisition aspirations of rival Simon
Property Group Inc.
MorePizza restaurants in works; wine shop heading to Fishers
November 21, 2009
IBJ StaffHot Box Pizza plans to open a downtown location in the Harness Factory Lofts building, and WineTyme, a new local shop selling
wines, craft beers and gourmet food, is coming to Fishers.
MoreShopping center vacancies continue to climb
October 12, 2009
Scott OlsonVacancies at U.S. shopping malls and retail strip centers have climbed to steep levels, a trend that Indianapolis-based commercial
real estate companies Simon Property Group Inc. and Kite Realty Group Trust haven't been able to dodge.
MoreUPDATE: Simon remembered for vision, courage
September 16, 2009
Cory SchoutenA Friday funeral is planned for a man who made a fortune building shopping malls across the U.S. and later became a prolific
philanthropist in his adopted hometown of Indianapolis. Melvin Simon, 82, succumbed this morning after a battle with pancreatic
cancer.
MoreAnderson siblings buying city's Mounds Mall
September 15, 2009
IBJ Staff and Associated PressTwo Anderson siblings are buying the city's Mounds Mall from the Florida-based company that has owned it for the past six
years.
MoreFlush with cash, developer Simon revives hunt for acquisitions
September 12, 2009
Greg AndrewsSimon Property Group Inc. has managed to grow revenue tenfold since going public 16 years ago. The key has been well-timed
acquisitions.
MoreSpicy Pickle sued for unpaid rent at Castleton Square
June 8, 2009
IBJ StaffSimon Property Group Inc. has filed suit against Spicy Pickle franchisee AJ Enterprises LLC, seeking more than $977,000 in
unpaid rent for a prime space at Castleton Square Mall.
MoreSimon adds to its stake in British mall owner
June 8, 2009
IBJ StaffLocally based Simon Property Group Inc. has added 18.6 million shares to its stake in the United Kingdom's largest owner of
shopping malls, Liberty International Plc.
MoreLilly, Simon receive top philanthropic awards
May 25, 2009
Two global companies based in Indianapolis have been recognized for their philanthropic efforts.
MoreNoblesville offered generous incentives to Simon for mall
April 20, 2009
Cory SchoutenThe old adage that retail follows rooftops is only partially true; retail also follows taxpayer-funded incentives.
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So the Mayor adds another non value added layer to having a vehicle towed? Whereby the City Government RECIEVES AN ILLEGAL KICKBACK FROM A LGOISTICS COMPANY THAT SUBS THE WORK TO LOCAL TOW COMPANIES? What is the service the City performs for receiving the "tribute"? This is RICO!!!!! What a corrupt and unnecessary layer. What a dirtbag Mayor and his cronies.
Owner occupied housing. Clear enough?
So people think I am paranoid. It's from experience in dealing with puds requested by developers who make major donations themselves to representatives, have nice fund raisers for those running for office and hide through pac's. then there are the public relation firms. You will note some pr comments below. You there Clyde Lee? My opinion. Commercial along 421, great. Multifamily housing, terrible idea that will change the town. Senior condos or zero lot line homes west, great. I suggest keeping all entries to commercial areas at 421. All entries to owner occupied on sycamore. Will keep the traffic on sycamore down some. Two other things. You can't trust what will be there in 10 years. Steve builds quality stuff, but areas change over time. Look at the changes at the wall mart center at 86th and 421 over the last 10 years. Look at the apartments and neighborhoods behind St Vincent's. Raintree properties WILL decrease in value if commercial and multifamily goes in near. It has already been happening around the bridges area. The houses that have been sold recently are way below market. Several deals not closed due to the Illinois construction and the whole unsurety of the bridges. It's pretty simple, Zionsville will approve the whole thing because the city council has been groomed over a LONG period of time for this. I might even suggest some are in their position as a result of this.
Esta, do you have a dog in this fight? You seem to really want to knock anyone against this project. No, I didn't move to Indiana for the architecture. I moved here for that red barn in the field. The horses and fields of corn. A place that is NOT overdeveloped. There are plenty of nearby places in Indianapolis that could be REDEVELOPED instead.
RKW - OK, we get it, you're paranoid. The question is, are you paranoid enough? Greg - Yes, Pittman(s) is (are) at it again. They are developers, they build things. It's what they do. So when you go to work tomorrow, Greg, you're at it again too. Cliff - Really? You moved to Indiana for its progressive architecture? That's like moving to England for the cuisine. Zionsvillain - The house you moved to was once a field or woods. I'm willing to bet folks were upset when that ground was plowed under and a house was built. But I guess now that you are in, everything should stop? "My house was OK, but the next one is sprawl." SE Guy - Please don't paint us with such a wide brush. Most reasonable Zionsville residents welcome planned, measured development.