UPDATE: Circle Centre anchor Carson’s commits to 5-year lease extension
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.
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.
Leslie Payne is returning to Simon Property Group to serve as director of marketing and business development for Circle Centre.
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.
Without the rescue, it appears the teen fashion retailer’s remaining stores are heading for liquidation, an event that will put about 10,000 people out of work. Aeropostale has five Indianapolis-area stores.
Simon executives told analysts during a conference call Wednesday that the company has added 200 restaurants to its tenant mix in the past five years, 53 of which should open either this year or in 2017.
The mall owner said funds from operations, a key performance measure, remained flat, but they beat analyst estimates by a penny.
Most U.S. malls are still dependent on department stores to draw customers, but with consumers doing more shopping online, retail centers are increasingly relying on restaurants, entertainment amenities and even medical facilities to attract traffic.
Homebuilder Paul Estridge Jr. has been in discussions about acquiring the sprawling 106-acre property on Ditch Road, according to a source familiar with the deal.
Retail real estate firm WP Glimcher denied last week that it was in talks to merge with Indianapolis-bases Kite Realty Group Trust. Now its CEO is gone, and directors are reevaluating its portfolio.
Experts estimate that several hundred shopping malls could shut down over the next decade after owners relinquish them to lenders rather than make steep loan payments.
Indianapolis-based Simon Property Group Inc. and Warsaw’s Zimmer Biomet Holdings vaulted back among the top 500 this year, while local oil refiner Calumet Specialty Products Partners plummeted.
Unlike some of its peers, Indianapolis-based Simon Property Group continues to attract star tenants such as Nike and Apple, command higher rents, and get attractive financing terms.
The nation’s largest mall owner said funds from operations, a key measure of profitability, increased 15.4 percent in the first quarter while tenant rents grew.
Indianapolis-based Simon Property Group must face an antitrust lawsuit from South Bend-based Holladay Properties, a federal judge has ruled.
The pending deal would help the Indianapolis-based real estate firm solidify its retail holdings in the tourism mecca.