The Indianapolis-based real estate giant called the investigation "meritless" but nonetheless agreed to modify leases at a popular outlet mall near Manhattan that restricted tenants from opening a second location within 60 miles.
Shares in the Indianapolis-based mall owner rose in early-morning trading Tuesday after the company increased its quarterly dividend and its full-year guidance for 2017.
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.
The additions to the food court will include a concept from Cafe Patachou founder Martha Hoover.
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.
David Simon told investors that the “returns will be there” if the company continues to invest in its properties.
Simon Property Group CEO David Simon said he was pleased with first quarter results, considering the “current choppy retail environment.”
With customer traffic sagging, U.S. retail landlords like Indianapolis-based Simon Property Group Inc. are using their sprawling concrete lots to host events such as carnivals, concerts and food-truck festivals.
A Wall Street analyst said turnover among retailers actually creates opportunity for Simon Property Group—enabling it to replace underperforming department stores with an eclectic mix of restaurants, movie theaters and other entertainment venues that pay higher rent and boost customer traffic.
If a deal occurs, Hudson’s Bay might fold Macy’s assets, worth about $20 billion, into HBS Global Properties, its joint venture with Indianapolis-based Simon Property Group.
Indianapolis-based mall giant Simon Property Group saw increasing profit, revenue, occupancy and rents in the latest period.
The department store’s lease had been due to expire next January. If it had pulled out, the downtown mall would have been left with no anchors.
Upbeat holiday shopping forecasts are giving retailers reason to cheer despite nagging signs that consumers are spending less at malls and instead opting for online outlets.
The Indianapolis-based real estate company reported higher occupancy and rental rates at its shopping malls in the third quarter.
The Indianapolis-based mall developer faces accusations that it used its massive influence to pressure retailers to sign leases at its mall in Mishawaka instead of in a competitor’s property.
Shares in Taubman Centers Inc. surged Wednesday, one day after Jonathan Litt, an activist investor known for targeting real estate companies, pushed for the mall owner to cut costs or consider a sale of the company.
Teen clothing retailer Aeropostale Inc. won court permission Monday to sell its assets to buyers led by Indianapolis-based Simon Property Group Inc. and General Growth Properties Inc.
A consortium led by Indianapolis-based mall giant Simon Property Group Inc. and rival General Growth Properties Inc. has won an auction for the assets of Aeropostale Inc., with a plan to keep open at least 229 of the bankrupt teen retailer’s stores.