The Indianapolis mall owner is expanding its global profile, agreeing to buy a controlling stake in a French firm with a 271-property European portfolio. Simon also is buying out a partner in its Mills portfolio closer to home.
Forever 21, a privately held California-based chain, has begun converting the roughly 25,000-square-foot former bookstore at the south entrance to the mall and is targeting a summer opening.
Simon Property Group Inc., the largest U.S. shopping-mall owner, reported a 6.3-percent gain in fourth-quarter funds from operations as income from rents rose.
Landlord Circle Centre Mall LLC is suing the restaurant over $77,275.24 in unpaid rent, according to court documents. Circle Centre also sued Bella Vita in June 2010 over $96,523.23 in overdue rent.
An after-hours nightclub and a sports apparel shop operated by Indianapolis-based Lids Sports Group will occupy much of the space, dubbed “The Huddle,” during the festivities starting on Jan. 27.
Sears Holding Co. said Thursday it will close a Kmart store on Pendleton Pike in Indianapolis and a Sears department store in Anderson as part of a round of closures.
Simon Property Group has more shopping malls with Sears as a tenant than any other landlord, but any closings are likely have a negligible effect on the Indianapolis-based real estate company's overall earnings, an analyst says.
The holiday shopping season turned out to be two seasons: the Black Friday binge and a last-minute surge before Christmas. Together, they added up to decent sales gains for most retailers.
Between 100 and 120 Sears and Kmart stores will be closed, the retailer said Tuesday, after terrible holiday sales during what is the most crucial time of the year for retailers.
Local police were called to two Indianapolis malls to control crowds waiting to purchase the newest generation of Air Jordan basketball shoe. Similar incidents have been reported nationwide.
During the four weeks leading up to Christmas, an estimated $1.84 billion in merchandise will be shoplifted this year, according to The Global Retail Theft Barometer. That’s up about 6 percent from $1.7 billion during the same period last year.
New stories have debuted at malls across the Indianapolis area. Many are pop-up shops eager to capitalize on holiday shoppers and the Super Bowl crowds.
U.S. retail sales during Thanksgiving weekend climbed 16 percent to a record, as shoppers flocked to stores earlier and spent more, according to the National Retail Federation. Sales totaled $52.4 billion, and the average shopper spent $398.62 over the holiday weekend, up from $365.34 a year earlier.
Traffic is low and vacancies are high at Washington Square Mall, the most troubled local property for Indianapolis-based mall giant Simon Property Group Inc.
Three local strip centers owned by longtime Indianapolis developer Centre Properties are the target of a $43 million foreclosure lawsuit brought by the real estate firm’s lender.
The Indiana Court of Appeals ruled Bren Simon doesn’t have legal standing to challenge a judge’s decision not to recuse himself from overseeing the court fight over her late husband Melvin’s $2 billion estate.
A multimillion-dollar makeover now under way at The Fashion Mall at Keystone will add an upscale food court and about 20 stores, many of them new to Indianapolis.
Veritas Realty is betting more restaurants and retailers are interested in opening stores near Nordstrom Rack and The Container Store.
The National Retail Federation, the nation's largest retail trade group, expects winter holiday sales to rise 2.8 percent, to $465.6 billion this year.
The 617 parking spaces at the newly renovated Rivers Edge shopping center meet the minimum commercial-zoning allotment—but just barely.
