With store vacancies at an eight-year high, retail landlords see the potential of gamers someday pouring out of their basements and into their shopping meccas as a kind of lifeline.
Simon shares rally after firm lays out reopening plans, pledges to pay a dividend
CEO David Simon said the company is continuing to work closely with its tenants but declined to discuss how it is assisting those that have faced financial strains from limited or diminished operations.Read More
Return of retail in Indy area far from business as usual
A smattering of shoppers found a mixed bag of offerings on the first day that nonessential stores were allowed to open, with many retailers remaining closed or still providing pickup-only service.Read More
Simon says it won’t defy state-at-home orders in reopening malls, calls speculation it might ‘very offensive’
A company official said it’s “preposterous” to think the company would reopen its malls, especially those in its home state, while stay-at-home orders are still in place.Read More
Firms across the country from a broad range of industries will be taking a hard look at their dividends in the coming weeks, as the pandemic forces businesses to focus on conserving cash.
The company is cutting more than 100 employees and furloughing others as it weathers the temporary shutdown of much of the retail industry.
Since the start of 2020, Simon shares have lost 67.7% of their value—chopping $31 billion off the company’s market capitalization.
Increasingly, as the planet warms, pressure is building from environmentalists, investors, consumers and the general public for corporate America to do something about it.
Authentic Brands Group, Simon Property Group Inc. and Brookfield Property Partners LP have finalized their $81 million acquisition of the struggling retailer, they announced Wednesday.
The deal sends a resounding message that Simon remains a devout believer in retail real estate, even as the rise of e-commerce has knocked the sector out of favor across the globe.
The talks come as a wave of retail bankruptcies squeeze mall-oriented real estate investment trusts, putting pressure on the industry to consolidate.
The Indianapolis-based shopping mall giant topped analyst predictions for funds from operations and revenue in the latest quarter.
The deal is the latest evidence of Simon’s willingness to step into an ownership role to rescue mall chains that overexpanded and made other blunders as the internet roiled the fashion-retailing industry.
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.
The Indianapolis-based shopping mall giant announced Wednesday morning that it is partnering with Rue Gilt Groupe to create an online site that will allow users to shop for more than 300,000 products from at least 2,000 designers.
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.
With Target out of the picture, the ground floor of the former Carson’s space in Circle Centre will be marketed to multiple retail, restaurant and entertainment tenants, sources said.
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.
A small faction of officials at the struggling 800-store retailer talked to mall owners Simon Property Group Inc. and Brookfield Property Partners LP about a range of options, including a sale, according to people with knowledge of the matter.
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.