Property Lines - Scott Olson

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Real Estate & Retail

Fashion Mall expansion shrinks

May 19, 2008

shoppingSimon Property Group continues to pitch upscale retailers on an expansion of the Fashion Mall at Keystone, although the Indianapolis developer has scaled back the project. The plans now call for the addition of 100,000 square feet of retail and restaurant space to the mall's western wing, Simon reports in a handout to prospective retailers at the International Council of Shopping Centers convention in Las Vegas. The material also provides a grand-opening date for the mall's new Nordstrom store: September 19. Simon previously said it planned to add 150,000 square feet. The expanded mall will have a total of about 700,000 square feet. Troubles with Premier Properties USA Inc. and its nearby mall proposal Venu may have lowered Simon's sense of urgency to beef up the Fashion Mall.
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