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Two more retailers leaving Circle Centre mall
Johnston & Murphy and Yankee Candle Co. are set to vacate their spaces at the end of the month, joining Gap, Gap Kids and American Greetings as tenants departing the third floor.
Johnston & Murphy and Yankee Candle Co. are set to vacate their spaces at the end of the month, joining Gap, Gap Kids and American Greetings as tenants departing the third floor.
Gap and Gap Kids, which opened along with Circle Centre in 1995, plan to close Jan. 26. Also on the third floor, the American Greetings card shop is shutting down at the end of next month.
Simon Property Group Inc. is proposing an estimated $20 million in improvements to Circle Centre mall, which spurred a downtown renaissance when it opened 20 years ago this month but now is showing signs of struggle.
A chunk of plaster fell Wednesday afternoon from the iconic walkway onto the intersection of Washington and Illinois streets, due to a water main break.
Non-anchor retail occupancy for the mall declined from 90.5 percent in 2013 to 89.5 percent last year, while profit and revenue climbed, Simon Property Group Inc. said in an annual operating report to the city.
You might have already dined at Yard House on a business trip to California, its home base, where it has 20 locations. Or Las Vegas, where its three outposts include the Red Rock Casino.
Sales per square foot are down, the building itself is aging, and persuading the lone anchor, Carson Pirie Scott, to stay another three years required generous incentives.
Lids replaces Indianapolis-based MainGate Inc., which has been with the team since it moved into Lucas Oil Stadium. The Colts store at Circle Centre mall has closed, but at least one new store is in the works.
The Circle Centre and Hamilton Town Center locations of struggling teen clothing retailer Wet Seal are among 338 stores that closed as of Wednesday.
The teen-fashion retailer has filed for bankruptcy and started close-out sales at all of its 92 locations, including in Carmel and downtown Indianapolis.
The future of malls looks quite bright despite the rise of online shopping.
Under terms of the deal, Carson Pirie Scott will save $300,000 annually through the next three years under a rent reduction at the downtown store.
Two more restaurants are set to join Yard House in vacant Circle Centre mall space along Maryland Street.
Regal Entertainment Group, the operator of the nine theaters on the mall’s fourth floor, is ripping out the seats and replacing them with reclining chairs in hopes of increasing attendance.
The mall manager has filed a lawsuit against two insurance companies claiming they should have covered its loss stemming from a teenager’s escalator fall in 2009.
New tenants including Granite City Food and Brewery and Firehouse Subs helped boost Circle Centre mall’s occupancy to nearly 90 percent in 2013, but sales per square foot and revenue slipped.
Three prominent restaurant chains, including one developed by Bobby Flay, and a health club franchise are eying the vacant space formerly occupied by Nordstrom in Circle Centre.
A look at some of the runner-up top Indianapolis business stories from 2013.
An online petition drive launched by employees of stores in Simon properties urges the company to rethink a decision to open its malls at 8 p.m. on Thanksgiving. One petition so far has gathered nearly 18,000 signatures.
Considering Granite City. Third in a month-long series of new mall restaurant reviews.