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.
One year after the closure of Carson’s at Circle Centre, city and mall officials are still looking for the right tenant—or mix of tenants—to fill the massive footprint.
Foamcraft Inc. plans to open a pop-up store in Circle Centre under the Comfort Option name. The store is initially scheduled to be a one-month endeavor, but could be there much longer if things work out.
The downtown mall has hemorrhaged tenants in recent years, including the loss of its two department store anchors.
Merrillville-based CSC Generation Holdings Inc., which acquired Bon-Ton’s intellectual property in bankruptcy court, said Indiana was not part of its initial plan to reopen stores.
The company said it was in “advanced discussions with landlords” about reopening stores in Indiana and several other states. Bon-Ton closed 15 stores in Indiana this year, including the Carson’s in Circle Centre mall.
In Indiana, Brookstone has stores in Circle Centre mall and at Indianapolis International Airport.
Huse tells IBJ that Circle Centre needs “transformational” change and describes the company’s plans for two restaurants in Fishers.
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.
The owner of Gifts and Convenience, a shop in the downtown Embassy Suites by Hilton hotel, is the new franchisee for the mall cookie and desert shop, which closed early this year after a lawsuit from the landlord.
Purdue Polytechnic plans to operate at the mall for the 2018-19 school year. Other new tenants include three restaurants, an Indiana-themed shop and an executive coaching consultant.
The national retailer, which is rolling out dozens of non-traditional stores across the country, declined to comment on whether downtown Indianapolis could be a future site.
Plans for the “multimillion-dollar” renovation include transforming the food court into a dining pavilion and upgrading lighting and finishes. But the plans don’t address the long-term viability of the struggling mall.
The cookie and ice cream shop’s closure is the latest in a string of recent tenant departures from the downtown Indianapolis mall. The mall recently filed suit against the shop
If the Minneapolis-based retail giant finally takes the plunge downtown, it might be at another site that almost no one is talking about.
One of Circle Centre’s original tenants is preparing to close, more than 22 years after entering the Indianapolis market with the downtown store.
City officials say they hope to act quickly with Simon Property Group Inc. to determine the highest and best use for the Carson’s space at Circle Centre after the department store closes this spring.
The parent firm of Carson’s revealed to state officials on Monday the scope of the five store closures it announced last week. Bon-Ton Stores Inc. filed for bankruptcy protection on Sunday.
Real estate experts disagree over whether the prominent downtown space being vacated by Carson’s makes more sense for another retailer (perhaps Target?) or for an office user.
Workers at Andrews Jewelers on the second floor of the downtown mall could be seen on Monday packing up gems and baubles behind security gates.
