Nassimi Realty was a key player in two transactions totaling $15 million, offloading a retail center dominated by dollar stores and acquiring a complex directly east of Castleton Square Mall.
Castleton remains central Indiana’s most expansive retail corridor, but does its retail focus—and its car-centric layout—suggest trouble lies ahead?
One complication is that Sears—not Simon Property Group—controls the Castleton Square space.
The longtime clothing retailer shut the doors to its Circle Centre mall location Dec. 24, while the one at Castleton Square Mall is set to close Saturday.
The Circle Centre and Hamilton Town Center locations of struggling teen clothing retailer Wet Seal are among 338 stores that closed as of Wednesday.
The future of malls looks quite bright despite the rise of online shopping.
The owner of Castleton Square Mall is suing its former tenant for $471,031 following the restaurant’s closing late last month.
A prototype store launched by athletic shoe and apparel retailer The Finish Line Inc. on May 25 aims to use technology to marry brick-and-mortar to the company’s online operation. But interactive tablets that are a centerpiece of the so-called omnichannel strategy are not yet up and running.
Forever 21 is more than tripling its square footage at the north-side mall by taking the former Borders bookstore space.
The developer and contractors who built the FBI’s new $39 million Indianapolis field office, just north of Castleton Square Mall, are squabbling in court a year after wrapping up work on the project.
Forever 21, a privately held California-based chain, has begun converting the roughly 25,000-square-foot former bookstore at the south entrance to the mall and is targeting a summer opening.
Simon Property Group has more shopping malls with Sears as a tenant than any other landlord, but any closings are likely have a negligible effect on the Indianapolis-based real estate company's overall earnings, an analyst says.
Local police were called to two Indianapolis malls to control crowds waiting to purchase the newest generation of Air Jordan basketball shoe. Similar incidents have been reported nationwide.
The outdoors retailer REI plans to open its first Indiana store in a former Linens & Things location in the Plaza at Castleton shopping center.
The roughly 1,200-square-foot shop is scheduled to open in late March or early April.
Simon Property Group spokesman Les Morris said 110 out of 130 mall stores were open late this morning.
Simon 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.
