Simon Property Group

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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New Simon VC arm making bets on retail technology

August 9, 2014
Greg Andrews
The newly formed Simon Venture Group is betting millions of dollars on nascent technology companies that hope to reshape retailing.
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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 profit jumps on improving occupancy, rents

July 23, 2014
The company reported a 20-percent increase in profit in the second quarter as occupancy in its malls climbed to 96.5 percent, prompting Simon to raise its guidance.
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Simon VP dies in Greenwood plane crash

July 12, 2014
Associated Press
William Michael Gilliland of mall developer Simon Property Group was piloting a single-engine airplane that lost power moments after taking off from an airport Friday.
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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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Simon promotes longtime treasurer to CFO

June 19, 2014
 IBJ Staff
Simon Property Group Inc. announced Wednesday the promotion of Andrew Juster to chief financial officer, succeeding longtime CFO Stephen Sterrett.
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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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Washington Prime shares set stage for NYSE debut

May 28, 2014
 IBJ Staff
Shares of the fledgling, Indy-based firm hovered just under $21 in advance trading on Wednesday morning, providing a window to its official open Thursday on the New York Stock Exchange.
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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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PROXY CORNER: Simon Property Group Inc.Restricted Content

April 26, 2014
Indianapolis-based Simon Property Group Inc. is a real estate investment trust that owns, operates, manages, leases and develops regional malls, outlet centers and community shopping centers.
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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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UPDATE: Simon Property wins dismissal of CEO pay suit

April 10, 2014
 Bloomberg News and IBJ Staff
Simon Property Group won't have to face a lawsuit alleging it improperly barred investors from voting on an executive-pay plan that resulted in a $120 million stock award to CEO David Simon. Public documents released Thursday show Simon made about $16 million last year.
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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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Simon says court should dismiss CEO pay case

March 25, 2014
Bloomberg News
Simon Property Group told a Delaware judge on Tuesday that an investor lawsuit over David Simon's huge pay package should be thrown out now that the company has rewritten the compensation plan.
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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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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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Mall giant Simon beating back perceptions of Internet threatRestricted Content

February 8, 2014
-Greg Andrews
Brick-and-mortar retailers experienced a rough holiday season, and the doldrums continued through January—fueling hand-wringing among investors and other observers over whether the Internet has permanently diminished the American shopping mall.
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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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  1. I took Bruce's comments to highlight a glaring issue when it comes to a state's image, and therefore its overall branding. An example is Michigan vs. Indiana. Michigan has done an excellent job of following through on its branding strategy around "Pure Michigan", even down to the detail of the rest stops. Since a state's branding is often targeted to visitors, it makes sense that rest stops, being that point of first impression, should be significant. It is clear that Indiana doesn't care as much about the impression it gives visitors even though our branding as the Crossroads of America does place importance on travel. Bruce's point is quite logical and accurate.

  2. I appreciated the article. I guess I have become so accustomed to making my "pit stops" at places where I can ALSO get gasoline and something hot to eat, that I hardly even notice public rest stops anymore. That said, I do concur with the rationale that our rest stops (if we are to have them at all) can and should be both fiscally-responsible AND designed to make a positive impression about our state.

  3. I don't know about the rest of you but I only stop at these places for one reason, and it's not to picnic. I move trucks for dealers and have been to rest areas in most all 48 lower states. Some of ours need upgrading no doubt. Many states rest areas are much worse than ours. In the rest area on I-70 just past Richmond truckers have to hike about a quarter of a mile. When I stop I;m generally in a bit of a hurry. Convenience,not beauty, is a primary concern.

  4. Community Hospital is the only system to not have layoffs? That is not true. Because I was one of the people who was laid off from East. And all of the LPN's have been laid off. Just because their layoffs were not announced or done all together does not mean people did not lose their jobs. They cherry-picked people from departments one by one. But you add them all up and it's several hundred. And East has had a dramatic drop I in patient beds from 800 to around 125. I know because I worked there for 30 years.

  5. I have obtained my 6 gallon badge for my donation of A Positive blood. I'm sorry to hear that my donation was nothing but a profit center for the Indiana Blood Center.

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