Simon hopes to do ‘transformational redevelopment’ of Sears space at Castleton Square mall
The two-story location is one of 63 Sears that parent Sears Holdings announced Thursday were “non-profitable” and would be closing.
Simon Property Group
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With Kite shares stuck in discount bin, dividend investors can hit jackpot
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.
Mall owners, retailers clash over avalanche of online returns
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.
Simon Property shares rise on better-than-expected earnings report
Shopping center giant Simon Property Group Inc. on Friday reported a strong first quarter that exceeded analyst predictions.
Saks parent, a Simon Property partner, unable to escape slump
The rebound taking shape in parts of the retail industry eluded the owner of the Saks Fifth Avenue and Lord & Taylor department stores, which failed over the holiday season to reverse a decline in same-store sales.
Brookfield’s deal for GGP seen as underpriced, bad for malls
Brookfield Property’s deal to take over shopping center landlord GGP Inc. isn’t winning over Wall Street analysts, nor is it scoring points with investors in retail real estate stocks, including Indianapolis-based Simon Property Group.
Brookfield Property to buy Simon Property rival for $9.25 billion
GGP Inc., known as General Growth Properties until changing the name a year ago, is the second-largest U.S. shopping mall owner behind Indianapolis-based Simon Property Group.
Simon Property’s CFO to retire after 30 years with company
Andrew Juster joined the Indianapolis-based company in 1989 when it was known as Melvin Simon & Associates.
Simon among landlords that will have to deal with Toys ‘R’ Us properties
The collapse of Toys “R” Us Inc. is yet another blow for landlords—including Indianapolis-based Simon Property Group—who now will have gaping holes of suburban retail space up for grabs. And few tenants would want them.
Mounds Mall in Anderson closing after 53 years in business
The very first enclosed shopping center developed by mall giant Melvin Simon & Associates is shutting down at the end of the month. The looming closure of anchor tenant Carson’s was the last straw for the struggling property.
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.
Retail goliath Simon nails quarterly expectations, increases dividend
The Indianapolis-based mall owner broke a record in 2017 in a metric for operational performance, but its CEO admitted to analysts on Wednesday that it needs to boost occupancy at its properties.
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.
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.
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.
Simon tops quarterly expectations, raises full-year guidance
Shares in the Indianapolis-based shopping mall owner slid Friday morning despite a mostly positive quarterly financial report. A negative quarterly report from J.C. Penney was the likely factor.
Online shops opening brick-and-mortar stores
Simon Property Group Inc., the nation’s largest mall owner, is getting a big assist from an unlikely source in its bid to backfill wide swaths of space left by failed or struggling clothing chains.
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.”