Simon reports eight-year high in shopping mall occupancy rates
Indianapolis-based Simon Property Group Inc., the largest owner of malls in the United States, said it signed a record number of leases in 2024.
Retail
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IBJ Podcast: A preschool, a church, a pickleball palace—tracking the transformations of Indy’s vacant Marsh stores
Longtime Indianapolis retail real estate broker Bill French and podcast host Mason King share detailed records on how many former Marsh spaces have been recast, revamped or replaced.
Simon purchases Italian outlet malls from Gucci’s parent company
Indianapolis-based Simon is the new owner of two Italian luxury outlet malls where the roster of shops includes Armani, Balenciaga, Gucci and Versace.
Developer considering apartments at Irvington Plaza, but community leaders want ‘clarity’ on plans
California-based Tallen Capital Partners LLC, which has the property in the 6200 block of East Washington Street under contract for an undisclosed price, hopes to rezone nearly 7 acres for mixed-use development.
Joella’s Hot Chicken closes Broad Ripple restaurant along White River
Joella’s had served spicy tenders and wings at the Broad Ripple Avenue location since 2018.
Rosy December for small business sales, except at restaurants
The strongest selling categories were general merchandise, clothing, shoes and jewelry retailers, furniture, electronics, appliances and grocery.
Greenwood store Red Dog Books faces closure, seeks new home
Red Dog Books, a tenant of Greenwood’s Allyne Parke shopping center since 2018, received notice on Jan. 14 that its lease will be terminated.
La Margarita restaurant to move to Factory Arts District
The Mexican eatery will serve customers at the Murphy Art Building through Feb. 8 before moving. A March opening is planned at Factory Arts District.
Nation’s largest trade group says holiday sales rose more than expected
The National Retail Federation said the 2024 holiday shopping season turned out to be robust, as easing inflation on merchandise drove shoppers to buy.
Starbucks reverses open-door policy for non-customers
If you want to hang out or use the restroom at Starbucks, you’re going to have to buy something.
Fountain Square residents want to rein in CBD retail development
Neighborhood leaders want a mechanism in place that allows them to provide public comment when the next smoke shop owner wants prime real estate in Fountain Square.
Carmel Music Center, one of city’s oldest retail businesses, to close in February
Carmel Music Center’s owner has sold his 105-year-old building on Main Street to the owners of an Indianapolis home goods store.
Apparel shop, toy store fill spots on Mass Ave block
A streetwear-and-more shop and a store selling toys in a former bank building once robbed by John Dillinger are recent independent retail additions to the block across from Bottleworks.
Final Gallery Pastry restaurant to close at 46th Street and College Avenue
Gallery Pastry owner Alison Keefer said she plans to focus on design consulting, private catering and the care of three sons.
Shareholder group calls for Vera Bradley to consider ‘strategic alternatives’
Fund 1 Investments LLC said Vera Bradley’s board should consider taking the handbag company private or a potential sale, among alternatives.
Qdoba restaurant ends 25-year run near Monument Circle
The restaurant closure leaves no first-floor tenants in the historic King Cole building that has been announced as the future home of a hotel.
Value-seekers drove 2024’s retail trends and dead ends
Shoppers and restaurant patrons in the U.S. were choosy about where and how to spend their money as they wrestled with high housing and food prices.
Scarlet Lane Brewing to close last remaining location
Scarlet Lane Brewing Co., which operated five area locations until just over a year ago, plans to shut down its flagship brewpub in McCordsville at the end of the year, marking an end to the 10-year-old business.
Holiday shoppers increased spending by 3.8% despite higher prices
This year, retailers were even more under the gun to get shoppers in to buy early and in bulk since there were five fewer days between Thanksgiving and Christmas.
The Container Store, buffeted by rough housing market and competition, seeks bankruptcy protection
The filing arrives two weeks after the trading of company shares was suspended by the New York Stock Exchange. Under Chapter 11 protection, The Container Store will continue to operate while it restructures.