Retail landlords received quite a jolt when they discovered that some of the most lustrous names in retail want pandemic-related rent concessions like those being offered to struggling tenants.
Carmel outdoor shopping center Clay Terrace has two sizable restaurant spaces to fill after the closures of Mitchell’s Fish Market and Biaggi’s Ristorante Italiano.
Signaling a legal brawl lies ahead, Taubman said Simon “continues to be bound to the transaction in all respects.”
The other street closures—to Massachusetts Avenue, Broad Ripple Avenue and Georgia Street—will remain in effect through July 4, the city said.
Simon shares fell nearly 6% in early trading Wednesday, to $81.71 each. Taubman shares plummeted nearly 30% after the announcement, to $31.94 each.
The number would shatter the record set in 2019, when more than 9,800 stores closed their doors for good, according to a report from retail and tech data firm Coresight Research.
The pandemic has devastated the diamond world. Jewelry stores closed their doors, India’s cutting and polishing artisans were forced to stay home and De Beers had to cancel its March sale because buyers couldn’t travel to view the merchandise.
Host Mason King talks with Stadium Village Business Association President Erica Wells and Mayor Joe Hogsett’s chief of staff, Thomas Cook, about how the city can help downtown and downtown businesses rebuild after the one-two punch of coronavirus and riots.
Realizing this is not as “temporary” a situation as you thought, you might be ready to trade in your metal folding chair for an ergonomic model or treat yourself to a set of new candy-colored Sharpies. Maybe your employer is even offering a stipend for workers in need of home office improvements.
Bike shops are benefiting as the public thirsts for something that will roll away the lockdown monotony and provide a little exercise.
H.T. Hearsey Bicycles store was on Pennsylvania Street, between New York and Ohio streets, when this photo was taken in 1896.
Decisions are impossible to make when leadership fails to listen to the community; fails to communicate a comprehensive plan; and falls into a reactive, not proactive, stance on protecting our community.
Several business owners in the city’s central business district and others along Massachusetts Avenue have enlisted staff members and local artists to paint murals and messages on the plywood covering the facades of riot-damaged buildings.
Gap Inc. has more than 390 stores at Indianapolis-based Simon’s malls, including its namesake brand, Old Navy and Banana Republic.
The Dallas-based discount retail chain filed for Chapter 11 bankruptcy protection May 27, citing financial strains caused by COVID-19-related store closures.
St. Louis-based Sugarfire Smoke House has closed its downtown Indianapolis restaurant following ongoing issues with the building’s landlord.
Employee-owned SEP, one of the largest software development firms in the Indianapolis area, says it’s building a “forever home” that will more than double its current footprint.
The Stadium Village Business Association, which represents more than 200 businesses south of downtown, decried the property damage caused by weekend riots and a “lack of leadership” from city officials.
The lot in the Herron-Morton Place Historic District was slated several years ago for a new gas station, drawing fierce opposition from nearby residents.
On Monday, Marion County entered Phase 3 of its COVID-19 reopening plan, which among other relaxed restrictions included allowing restaurants to serve patrons indoors, up to 50% of their dining-room capacity.
