Klepierre SA, which is partly owned by Indianapolis-based Simon Property Group, has offered to buy Dutch competitor Corio NV to solidify its position as Europe’s second-largest publicly traded-shopping mall operator.
The mall manager has filed a lawsuit against two insurance companies claiming they should have covered its loss stemming from a teenager’s escalator fall in 2009.
Simon Property Group spinoff Washington Prime Group on Monday announced deals worth about $326 million involving at least seven shopping centers, including Clay Terrace in Carmel.
Simon Property Group has revised its earnings forecast with the Thursday launch of spinoff firm Washington Prime Group.
Washington Prime Group Inc., listed under the “WPG” ticker symbol, will begin trading Thursday. The new real estate investment trust will own 98 retail properties, including 13 in Indiana.
Paris-based Klepierre SA, whose largest shareholder is Simon Property Group Inc., plans to spend as much as $686 million a year on expansion.
New tenants including Granite City Food and Brewery and Firehouse Subs helped boost Circle Centre mall’s occupancy to nearly 90 percent in 2013, but sales per square foot and revenue slipped.
The Indianapolis-based athletics retailer bought a larger share in the Running Specialty Group, a chain that operates 49 stores in 11 states.
The nation’s largest mall owner reported a 16.1-percent increase in first-quarter funds from operations as demand for retail space in outlet centers climbed.
Indianapolis-based Kite Realty Group Trust, which is in the midst of a major merger, had decided that the three properties scattered across the country were “non-core assets.”
New York-based Time Equities Inc. acquired the northeast-side property that is anchored by a Marsh supermarket and 85-percent occupied.
A jump in same-store sales and improvements to the sports-apparel retailer’s website helped the company report a better-than-expected profit in its fiscal fourth quarter.
Simon Property’s decision to name the new business Washington Prime had fueled speculation the company would end up based in the D.C. area. However, that apparently is not the case.
Simon Property Group Inc. is reaching into its own stable of executives to stock the C-suite of its publicly traded spinoff for retail strip centers and smaller enclosed malls.
The east-side mall's occupancy has fallen to 43.8 percent, down from was 86.6 percent in 2011 and 77.2 percent in 2012.
Carmel resident Mark Palombaro received a sentence of 18 months in a federal prison for perpetrating a construction kickback scheme in Pennsylvania that prosecutors say netted him $766,000.
The signs at the entrances of the Mounds Mall in Anderson state that, "For the safety & well-being of everyone, please lower your hoodie.”
Simon Property Group Inc. has chosen the name for its planned spinoff of strip shopping centers and smaller enclosed malls, and hired Mark Ordan to be the new company’s CEO.
Kite Realty Group Trust will remain in Indianapolis after the purchase, which will balloon its holdings to 131 properties covering 20 million square feet of shopping center space in 26 states.
Stephen Sterrett joined the predecessor to Simon Property Group Inc. in 1989, before the retailing giant went public in 1993 and eventually became the world’s largest mall developer.
