Simon Property Group Inc. is proposing an estimated $20 million in improvements to Circle Centre mall, which spurred a downtown renaissance when it opened 20 years ago this month but now is showing signs of struggle.
New York-based Ann Taylor has provided nearly 30,000 pages of documents in response to discovery requests related to why it signed a lease in 2006 to open a Loft store in a competitor's shopping center, only to reverse itself two years later and instead open at Simon Property Group's nearby University Park Mall.
Kite Realty Group Trust now sports a whopping 8.5 percent annual dividend yield—by far the highest of any publicly traded firm in Indiana—a reflection of the cold shoulder investors are giving retail real estate companies as internet sales soar higher.
The rebound taking shape in parts of the retail industry eluded the owner of the Saks Fifth Avenue and Lord & Taylor department stores, which failed over the holiday season to reverse a decline in same-store sales.
Brookfield Property's deal to take over shopping center landlord GGP Inc. isn't winning over Wall Street analysts, nor is it scoring points with investors in retail real estate stocks, including Indianapolis-based Simon Property Group.