Property Lines - Scott Olson

Welcome to Property Lines, Indy's favorite source for neighborhood real estate news. Your host, IBJ real estate beat reporter Scott Olson, can be reached at solson@ibj.com.
Real Estate & Retail

Simon suing another Circle Centre food court tenant

September 17, 2013

Circle Centre mall’s food court could be losing another tenant.

frullati circle centre 225pxFrullati Cafe & Bakery, operated by Scottsdale, Ariz.-based Kahala Corp., owes the mall at least $23,439 in back rent, according to a lawsuit filed Sept. 10 by landlord Simon Property Group Inc. in Marion Superior Court.

Circle Centre mall’s food court already has one vacancy. Currito, which closed in May after parent company Nicar Enterprises Inc. of Hamilton, Ohio, fell behind $23,581 in rent, according to a lawsuit filed in February.

The lawsuit naming Frullati follows a letter Simon sent to parent Kahala in July notifying the company of the delinquency.

Frullati, which operates in 917 square feet at the third-floor food court, signed a 10-year lease in August 2005. The company pays $96,129.11 per year, or roughly $8,010 each month, in base rent, according to the suit.

Bill French, a retail broker at Cassidy Turley, said a certain amount of turnover at food courts is to be expected. Tenants need a lot of traffic, which can be difficult to achieve during summer months when more people tend to stay outside.

Kahala did not respond to a request for comment. Frullati has one other location in Indianapolis, at Castleton Square Mall.

Besides Frullati, Kahala’s brands include Blimpie and Cold Stone Creamery.

Comments powered by Disqus