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.
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.
The platform, called SPO, focuses on Simon’s Premium Outlet properties and is now in beta testing with the company’s VIP Club customers.
The CEO of Simon Property Group says the company's "fifth platform" will leverage its huge customer base—its more than 220 properties draw more than 100 million customers who make 2 billion visits a year.
The first store is expected to open in Indianapolis in March at Castleton Square, Simon Property Group and Green Growth Brands announced Monday.
Simon Property Group managed improvement in every significant financial category in 2018 despite a landslide of retailer failures. On Friday, CEO David Simon said the company will have to continue to navigate through more store closures.
Simon Property Group Inc. on Thursday raised it outlook for the rest of the year after surpassing analyst expectations in a key quarterly performance category for real estate investment trusts.
Stiffening competition, surging online advertising costs and cheap mall space have prompted web retailers like Warby Parker and Bonobos to open physical stores, including locations in Indianapolis.
Indianapolis-based Simon Property Group and other mall landlords actually might be looking forward to redeveloping Sears’ massive stores with more promising tenants as the once-mighty retailer enters bankruptcy.
The Indianapolis-based shopping mall giant also raised its full-year forecast after exceeding forecasts with its financial results.
The mall posted higher profit and improved sales per square foot in 2017, though retail observers say it remains at a crossroads following the closure of its last department store, Carson’s.
Only about $3 billion of retail real estate changed hands in April, a 27 percent drop from a year earlier and the lowest monthly tally since February 2013.
The two-story location is one of 63 Sears that parent Sears Holdings announced Thursday were “non-profitable” and would be closing.
Kite Realty Group Trust now sports a whopping 8.5 percent annual dividend yield—by far the highest of any publicly traded firm in Indiana—a reflection of the cold shoulder investors are giving retail real estate companies as internet sales soar higher.
David Simon, CEO of Indianapolis-based Simon Property Group Inc., says a “significant number” of tenants are underreporting sales, costing the nation’s largest mall owner a lot of money.