The collapse of Toys “R” Us Inc. is yet another blow for landlords—including Indianapolis-based Simon Property Group—who now will have gaping holes of suburban retail space up for grabs. And few tenants would want them.
The very first enclosed shopping center developed by mall giant Melvin Simon & Associates is shutting down at the end of the month. The looming closure of anchor tenant Carson's was the last straw for the struggling property.
A Marion Superior Court judge has granted the Indianapolis-based mall giant's request for a temporary injunction, at least for now preventing Starbucks from closing 77 Teavana stores in its properties nationwide.