Flush with cash, developer Simon revives hunt for acquisitions
Simon Property Group Inc. has managed to grow revenue tenfold since going public 16 years ago. The key has been well-timed acquisitions.
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Spicy Pickle sued for unpaid rent at Castleton Square
Simon Property Group Inc. has filed suit against Spicy Pickle franchisee AJ Enterprises LLC, seeking more than $977,000 in
unpaid rent for a prime space at Castleton Square Mall.
Simon adds to its stake in British mall owner
Locally based Simon Property Group Inc. has added 18.6 million shares to its stake in the United Kingdom’s largest owner of
shopping malls, Liberty International Plc.
Lilly, Simon receive top philanthropic awards
Two global companies based in Indianapolis have been recognized for their philanthropic efforts.
Noblesville offered generous incentives to Simon for mall
The old adage that retail follows rooftops is only partially true; retail also follows taxpayer-funded incentives.
Struggling tenants leave aging Merchants’ Square
The future of Carmel’s Merchants Square mall is uncertain because of the rise of competitors.
Mall giant says it’s in good shape, but takes steps to conserve cash
Despite assurances of strength, Simon Property Group Inc. has decided to pay 90 percent of its dividend in stock, a move that allows the company to hold onto $925 million in cash this year but could alienate shareholders drawn by the dividend.
Despite sour economy, retail developers press on
Retail developers always have been an audacious breed. They spend millions to build shopping centers, confident that tenants will flock to fill the slots they didn’t prelease. To charge ahead these days takes more than the usual dose of intestinal fortitude. Everyone is nervous — from shoppers to lenders to retailers, many of which have […]
Indiana CEOs are cautious during financial mayhem
CEOs with Simon Property, Duke Realty Corp. and Interactive Intelligence Inc. report that their companies are taking an uncharacteristically
cautious approach to acquisitions and investments, given the faltering economy.
Simon Property Group exploring overseas markets
Simon Property Group Inc. has been readying its balance sheet and sizing up buyout targets in hopes of capitalizing on
a worldwide markdown on shopping-center owners.
Nordstrom new north-side store targets tonier shoppers
Come Sept. 19, Nordstrom Inc.’s got a brand new bag–and, well, shoes, hat and ensemble to match–as the department store
opens a second Indianapolis location, in the Fashion Mall at Keystone. Residing in Parisian’s former quarters,
the new store is poised to burnish the mall’s reputation as the region’s highest-end shopping destination.
Strip-mall developer scales back as housing slump hurts small retail centers
A local developer known for its strip centers has stopped building new projects, scaled back its staff, and is trying to
unload several of its properties in an apparent bid to survive. Williams Realty Group earlier this year
shuttered its custom-home-building operation, DayMarc Homes, and now observers are wondering if owners Dave
Crockett and Marc Freije can keep the rest of Williams afloat.
New Lafayette Square owner pitching major expansion
Lafayette Square Mall could look a lot like the revitalized Glendale Town Center in a few years if the mall’s new owners get
their way. A proposed site plan shows that New York-based Ashkenazy Acquisition Corp. doesn’t intend to settle for filling
the mall’s ample vacant space.
DeBartolo to buy Metropolis from Dominion Capital
Tampa, Fla.-based DeBartolo Development has reached a preliminary agreement to buy Plainfield’s Metropolis mall out of foreclosure
and hopes to hook Macy’s and Bass Pro Shops to anchor a second phase.
Premier Properties lays off workers as lawsuits, debt pile up
Premier Properties USA Inc. has eliminated about half its headquarters staff–more than 40 employees–as banks seize several
of its properties and CEO Christopher P. White faces a barrage of new lawsuits alleging unpaid bills, defaulted loans, illegally
redirected rent payments and check fraud.
Kite lands in hot retail spot
Another high-profile local developer is making a move to capitalize on the city’s hottest retail corridor, joining mall giant
Simon Property Group Inc. and upstart Premier Properties USA Inc. Kite Realty Group Trust paid $18.3 million for Rivers Edge
shopping center, a 111,000-square-foot property just east of Clearwater Crossing.
Fiercely private developer built strip-center empire
Sid Eskenazi fell in love with the board game Monopoly as a child. Buying and developing make-believe properties with make-believe money inspired the grade-schooler. And he was good at it. So several years later, Eskenazi began playing what he likes to call “adult Monopoly.” He bought one property at a time with real money.
New Nordstrom an obstacle for fragile downtown mall
When Nordstrom in 1992 signed its lease to open in Circle Centre, mall developers extracted an unusual commitment. The Seattle company agreed not to open another Indianapolis-area store for at least five years. So when Nordstrom last month announced it will launch a second location here, in The Fashion Mall at Keystone, it caught the attention of Herman Renfro, a former Simon Property Group Inc. development executive who oversaw Circle Centre.
Glendale might become open-air center, gain a Target
Kite Realty Group is in final negotiations to bring Target to Glendale Mall as part of a wholesale redevelopment that could transform one of the city’s first enclosed malls into an open-air shopping center.