The Great Recession put the $1 billion Duke Realty Corp. project years behind schedule, but progress picked up again in 2011 and 2012. A tipping point for momentum was the long-anticipated Meijer store’s opening in 2014.
Indianapolis-based mall owner Kite Realty Group Trust this month filed a request with the Marion County Board of Zoning Appeals to change zoning for some of the parking lots just east of the shopping center.
The Indianapolis-based retail real estate firm hopes to pay down debt, improve the quality of its assets and focus on preferred markets. Its shares fell on Wednesday after it revealed the plan and underwhelming quarterly results.
Simon Property Group managed improvement in every significant financial category in 2018 despite a landslide of retailer failures. On Friday, CEO David Simon said the company will have to continue to navigate through more store closures.
Heath R. Fear has been named executive vice president and CFO of the Indianapolis-based real estate investment trust, replacing Dan Sink, who stepped down June 30 after serving as Kite’s CFO for almost 20 years.
Mall landlords, besieged for the past two years by the rise of online shopping and retailer bankrupties, are trying to push a new narrative of improving sales and increased demand for empty space at their properties.