Starbucks says empty storefronts are leading to lower rents
Starbucks Corp. Chairman Howard Schultz said he sees a blessing in all the retail vacancies across the United States—landlords are beginning to reduce rents.
Shopping Centers
Articles
Macy’s breaks out of slump with better-than-expected holiday sales
The department store chain, which has three stores in the Indianapolis area, reported a healthy sales gain for the holiday period as it benefited from an improving economy and its own initiatives, like an overhauled customer loyalty program.
After contamination hiatus, Blue Bell ice cream returning to Indiana
The iconic Texas-based brand has been unavailable locally since 2015, when the company recalled all of its products nationwide to deal with a listeria outbreak. In addition to reappearing in stores, Blue Bell is reopening a distribution center in Indianapolis.
Community theater group losing Clay Terrace performance venue
The group has been putting on plays at a space in Carmel’s Clay Terrace shopping center for more than eight years, thanks in large part to the largesse of the landlord. Now it needs to find a new home.
Simon to spiff up struggling Circle Centre with long-awaited renovation
Plans for the “multimillion-dollar” renovation include transforming the food court into a dining pavilion and upgrading lighting and finishes. But the plans don’t address the long-term viability of the struggling mall.
UPDATE: Cookie shop latest tenant to desert Circle Centre
The cookie and ice cream shop’s closure is the latest in a string of recent tenant departures from the downtown Indianapolis mall. The mall recently filed suit against the shop
Closure of Carson’s stores in Indiana to cost 306 jobs
The parent firm of Carson’s revealed to state officials on Monday the scope of the five store closures it announced last week. Bon-Ton Stores Inc. filed for bankruptcy protection on Sunday.
With Carson’s out, what’s next for Circle Centre?
Real estate experts disagree over whether the prominent downtown space being vacated by Carson’s makes more sense for another retailer (perhaps Target?) or for an office user.
Original Circle Centre jeweler closes doors
Workers at Andrews Jewelers on the second floor of the downtown mall could be seen on Monday packing up gems and baubles behind security gates.
Carson’s parent ponders bankruptcy as part of restructuring
The comeback strategy for Bon-Ton Stores includes closing a dozen Carson’s stores, although Bon-Ton hasn’t specified locations. The only Carson’s in Indianapolis is the lone anchor for Circle Centre mall.
Tim Hortons’ expansion into Indy market ramping up with 5 locations
The company bringing the Canadian coffee-and-doughnut chain to central Indiana has revealed the sites of the four other restaurants, besides the one in Avon opening later this month.
Simon settles suit with Starbucks over closing Teavana stores
The Indianapolis-based mall owner had sued Starbucks, attempting to stop the coffee giant from closing dozens of Teavana locations at its properties.
Latest round of Macy’s closures claims one store in Indiana
Department store chain Macy’s Inc. announced plans Thursday morning to close seven more stores nationally, including one in Indiana.
Brokers, developers anticipate hale, hearty year in real estate
A sturdy office sector, hot industrial demand and some steamy retail categories are expected to boost Indy’s commercial real estate market in 2018.
Simon investing heavily in upgrading, transforming mall properties
The Indianapolis-based retail real estate giant is spending $1 billion annually to upgrade its high-end properties, including adding splashy non-retail features like housing and hotels.
Known for malls, Simon turns to apartments, hotels
The company said it hasn’t lost faith in brick-and-mortar retail but now is broadening its development focus in a quest to continue increasing the value of its real estate holdings.
Judge sides with Simon, bars Starbucks from closing Teavana stores
A Marion Superior Court judge has granted the Indianapolis-based mall giant’s request for a temporary injunction, at least for now preventing Starbucks from closing 77 Teavana stores in its properties nationwide.
How to fill 300,000 square feet of fresh retail space
Big downtown real estate projects are expected to add that much room to the retail inventory, and advocacy group Downtown Indy is jumping in to help drum up interest.
After bumpy year, retailers see cause for holiday optimism
The National Retail Federation is projecting holiday retail sales will increase 4 percent over last year, to $682 billion, on stronger employment and rising incomes.
Carson’s parent Bon-Ton planning to close 40 stores
Bon-Ton, which operates 260 department stores under several names across 24 states, has just one store in Indianapolis, but that store is the only anchor in Circle Centre mall.