Retail REITs feeling shopping mall pain, except for Simon
Unlike some of its peers, Indianapolis-based Simon Property Group continues to attract star tenants such as Nike and Apple, command higher rents, and get attractive financing terms.
Shopping Centers
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U.S. retail sales show solid gain despite woes at store chains
April’s sales gains paint a healthier picture of retail spending than did a slew of troubling reports released this week by Macy’s, Nordstrom, Kohl’s and J.C. Penney.
Gloomy outlook continues for retail giant Macy’s
Macy’s Inc., the largest U.S. department-store company, is still suffering from sluggish mall traffic and increased competition from other stores and off-price retailers.
J.C. Penney plans major push back into appliance business
J.C. Penney says it's expanding its rollout of major appliances to nearly 500 stores by this fall, or almost half of its stores.
Two Indiana stores on Aeropostale’s closure list
Clothing retailer Aeropostale, once the vibrant epicenter of the shopping mall scene, is seeking Chapter 11 bankruptcy protection and closing 113 of its 739 U.S. stores.
More filling: Craft brew craze adds body to real estate market
A study from CBRE says that by summer more than 50 microbreweries will be operating in the Indianapolis area and occupying space that otherwise might have remained vacant.
Fresh Market grocery chain acquired for $1.4 billion
Fresh Market, which operates five stores in Indiana, including three in the Indianapolis area, has been sold to buyout firm Apollo Global Management.
Lawmakers act to curtail ‘dark box’ property valuation method
There could be some relief in sight for local governments that were losing tax revenue due to the so-called “dark box” valuation method of commercial property in their counties.
Washington Square is out for bid, but can the mall be rescued?
The 1.1-million-square-foot mall is adrift without a permanent owner or turnaround strategy. Now its lender is attempting to sell it.
Kite to add housing at Rangeline and 116th
Kite Realty Group Trust is preparing to replace one of its struggling Carmel retail strips with a mixed-use development, but the firm has released few details about the project.
UPDATE: Abercrombie & Fitch closes most Indiana stores as sales drag
Struggling retailer Abercrombie & Fitch has closed four of its five stores in Indiana, including Indianapolis locations at Circle Centre and the Fashion Mall at Keystone.
Johnny Rockets closes restaurant in Circle Centre mall
The burger joint served its last customers on Sunday in the mall’s food court, joining a growing list of tenants departing the mall’s third floor.
Wal-Mart to close 269 stores amid increasing competition
Of the 154 stores being closed in the U.S., 102 will be in its Walmart Express category, which has been in a pilot program since 2011. About 10,000 U.S. employees will be affected.
Two more retailers leaving Circle Centre mall
Johnston & Murphy and Yankee Candle Co. are set to vacate their spaces at the end of the month, joining Gap, Gap Kids and American Greetings as tenants departing the third floor.
Plainfield shopping center closes early after online threat
The Shops at Perry Crossing in Plainfield was evacuated Friday night after bomb threats were posted on Facebook targeting the mall and its JC Penney store, police said.
Northwest-side retail center acquired for $6.5 million
Pyramid Place Shops is home to Georgia Reese’s Southern Table & Bar, Einstein Bros. Bagels, Noodles & Co., Qdoba, and Firehouse Subs.
Massive Greenwood retail project in works on I-65
Developer Gershman Partners is planning a $90 million retail project in Greenwood that would include 700,000 square feet of space, putting it on par with central Indiana’s major shopping centers.
Simon raises quarterly dividend, full-year forecast
A strong third quarter prompted Simon to boost its earnings forecast and raise its quarterly dividend to $1.60 per share, a 23.1 percent year-over-year increase.
Irvington on the upswing with efforts to bolster commercial growth
Grassroots efforts by local residents have meant a boost in the number of restaurants and retailers in the historic Indianapolis neighborhood, which was once considered a suburb.
Retailers pen worker wish lists for holiday hiring rush
Macy’s Inc. plans to hire about 85,000 seasonal workers ahead of the holidays, while other national retailers like Walmart and Kohl’s aim around the 60,000 range.