The Carmel Plan Commission gave a favorable recommendation Tuesday for the City Council to rezone 14 acres at the southeast corner of Meridian Street and Carmel Drive to a less restrictive designation.
The closings this month will be the biggest blow to the mall since Sears shuttered its store there in 2014.
Many of the stores that remain in the ever-shrinking Sears chain have the same old problems. They’re grungy and understaffed, poorly stocked and losing vendors.
The mall’s proposed sale is considered by industry experts to be welcome news for a lower-income neighborhood trying to make a comeback.
The index measures mobile-phone location data from five of the largest U.S. shopping center real estate investment trusts, including Indianapolis-based Simon Property Group Inc.
The Indianapolis-based real estate investment trust topped Wall Street expectations with its revenue in the third quarter and matched predictions for a key performance measure.
Indianapolis-based Simon Property Group counts Forever 21 as its sixth-largest mall tenant, excluding department stores, with 99 outlets covering 1.5 million square feet, as of March 3.
The Indianapolis-based real estate investment trust saw profit shrink, but it beat Wall Street predictions with higher-than-expected funds from operations, a key industry metric.
A growing Ohio-based chain of coworking centers announced Monday that it plans to venture into Indiana for the first time by opening a location at Hamilton Town Center in Noblesville in spring 2020.
The company’s shares—like those of many in retail real estate—are out of favor, as investors wring their hands over retail bankruptcies and the long-term impact of e-commerce.
Circle Centre saw its profit and store count rise in 2018, mall manager Simon Property Group said. But the financial performance of the downtown shopping center significantly trailed other properties in Simon’s portfolio.
City of Indianapolis officials on Wednesday decided to add more stores to a yet-to-be-launched food-insecurity program after learning that a Walmart Neighborhood Market on the far-east side was preparing to close.
The two local developers said they hope to start work on a 267-unit apartment project in Glendale Town Center’s parking lot by the end of this year.
Tuchman Cleaners, a dominant player in the dry cleaning business in central Indiana for more than 70 years, has closed more than half of its locations over the past nine months, leaving it with less than a handful of stores.
Nassimi Realty was a key player in two transactions totaling $15 million, offloading a retail center dominated by dollar stores and acquiring a complex directly east of Castleton Square Mall.
A Florida-based theme restaurant chain licensed by the Ford Motor Co. has chosen Hamilton Town Center in Noblesville for its first location in Indiana, mall owner Simon Property Group announced Monday.
CBD’s growing demand persists despite very little evidence for all the health claims the industry touts.
Foamcraft Inc. plans to open a pop-up store in Circle Centre under the Comfort Option name. The store is initially scheduled to be a one-month endeavor, but could be there much longer if things work out.
The Germany-based discount grocery chain has leased about 22,000 square feet and will occupy a little more than a third of the former Marsh Supermarket space.
The Gap brand has struggled as part of a broader slump for brick and mortar retailers, even as the lower-priced Old Navy brand has resonated with discount shoppers.
