Brookfield bids $14.8B to acquire rest of Simon mall rival GGP
GGP, formerly known as General Growth Properties, is the second-largest shopping mall company behind Indianapolis-based Simon Property Group. Simon tried to acquire GGP in 2010.
Shopping Centers
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Carson’s parent seeing supplier pullback reminiscent of Toys ‘R’ Us
Some of the suppliers for Bon-Ton Stores Inc.—the parent of Circle Centre’s only anchor store—are scaling back shipments and asking to be paid sooner in order to protect themselves from potential losses.
Finish Line stock jumps on takeover speculation
Stock in Finish Line Inc. rose 6.5 percent Wednesday after an analyst at Susquehanna Financial said he believes a buyout of the Indianapolis-based retailer is likely.
Gap to close some signature stores, open more Old Navy, Athleta locations
The company said Wednesday that it wants to shift focus to its growing brands Old Navy and Athleta while jettisoning hundreds of stores under the Gap and Banana Republic flags.
Fragrance retailer with local store files for bankruptcy protection
Fragrance seller Perfumania has filed for bankruptcy protection, and plans to close 65 of its 230 stores as it focuses more on selling online.
Simon sues Starbucks in bid to block mass Teavana closings
Indianapolis-based Simon Property Group, the country’s largest shopping mall operator, says in the lawsuit that Starbucks is breaching its leases by closing the Teavana stores and “shirking its contractual obligations.”
Amazon plans warehouse on former Simon shopping mall site
E-commerce giant Amazon plans to build a massive warehouse outside Cleveland on the site of a closed shopping center that was once owned by Indianapolis-based Simon Property Group. The former mall was once billed as the world’s largest.
Macy’s, Kohl’s renew fears of intractable retail slump
A fresh round of sales declines at Macy’s Inc. and Kohl’s Corp., though less severe than Wall Street had feared, is renewing concerns that the department-store industry can’t pull out of a years-long slump.
Starbucks to close all Teavana stores as sales disappoint
Four of Teavana’s 379 locations—which will all shut down over the coming year—are in Indianapolis-area malls.
Simon, Kite seek to dispel ‘retail apocalypse’ narrative
Some portfolio managers believe the market is painting the retail sector with too broad a brush. Yes, they say, many malls will go under, as will many retailers. But developers focusing on high-end properties—a description that fits both Simon and Kite—should fare just fine.
Circle Centre announces additions to tenant mix
A store that specializes in denim, a new eatery and a souvenir shop have set their sights on the downtown shopping center.
Going-out-of-business sales start Thursday at 18 Marsh stores
Sales to liquidate inventory at the 18 stores that weren’t sold at auction to other grocers this week could last until early July, said a Marsh spokesman.
Indy-based restaurants to open new locations in Fashion Mall
The additions to the food court will include a concept from Cafe Patachou founder Martha Hoover.
Circle Centre reports record revenue on strength of new restaurants
Additions such as Yard House, Nada and Punch Bowl Social have helped bolster Circle Centre's performance, even as a string of national apparel chains have shuttered their stores in the mall's interior corridors.
Shopping mall executives say gloomy future has been exaggerated
Retailers and shopping-center owners are gathering in Las Vegas this week prepared to send a message: The American mall is doing better than many people think.
Marsh warns of 16 more store closings, 1,454 job cuts if buyer isn’t found
The struggling supermarket chain warned the state Monday that that it is prepared to close the stores—including 11 in the Indianapolis area—within 60 days if it can't find buyer for the company.
Simon CEO says he’s confident mall business will prevail in tough retail climate
David Simon told investors that the “returns will be there” if the company continues to invest in its properties.
Developer proposes $50M shopping center in Whitestown
The Shoppes at Whitestown would be located on 33 acres within the Anson development with room for about 20 retailers and seven outlots. It could open by fall 2018.
Simon misses analyst predictions, but reports stable mall occupancy
Simon Property Group CEO David Simon said he was pleased with first quarter results, considering the “current choppy retail environment.”
Children’s clothing retailer with 4 area stores set for bankruptcy
San Francisco-based retailer Gymboree Corp. operates more than a dozen stores in Indiana, including four at some of the Indianapolis-area's top shopping centers.