Indianapolis-based Simon Property Group and other mall landlords actually might be looking forward to redeveloping Sears' massive stores with more promising tenants as the once-mighty retailer enters bankruptcy.
The company said it was in "advanced discussions with landlords" about reopening stores in Indiana and several other states. Bon-Ton closed 15 stores in Indiana this year, including the Carson's in Circle Centre mall.
City development officials said the plan should “respond to emerging challenges confronting the Castleton area, including evolving national shifts in commercial retailing and aging commercial, office and multifamily areas.”
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.
The owner of Gifts and Convenience, a shop in the downtown Embassy Suites by Hilton hotel, is the new franchisee for the mall cookie and desert shop, which closed early this year after a lawsuit from the landlord.