Devington Plaza task force unveils ideas as residents, developer look for path forward
The neighborhood proposal comes as the group pushes New York-based Skysoar Capital Partners to reconsider its plan for the nearly abandoned site.
Shopping Centers
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Herbert Simon retires from role on Simon Property Group board
Herbert Simon, 90, partnered with his brother, Melvin Simon, in 1960 to launch real estate company Melvin Simon & Associates.
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Simon reports eight-year high in shopping mall occupancy rates
Indianapolis-based Simon Property Group Inc., the largest owner of malls in the United States, said it signed a record number of leases in 2024.
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Simon purchases Italian outlet malls from Gucci’s parent company
Indianapolis-based Simon is the new owner of two Italian luxury outlet malls where the roster of shops includes Armani, Balenciaga, Gucci and Versace.
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Developer considering apartments at Irvington Plaza, but community leaders want ‘clarity’ on plans
California-based Tallen Capital Partners LLC, which has the property in the 6200 block of East Washington Street under contract for an undisclosed price, hopes to rezone nearly 7 acres for mixed-use development.
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Articles
David Yurman, Marc Jacobs stores to open at Fashion Mall
Over the next month, the Fashion Mall at Keystone will welcome three stores that are new to Indiana.
Kite Realty gives new life to 65-year-old Nora Plaza
Five years after Indianapolis-based Kite bought the shopping center, the developer has invested in utilities, signage and infrastructure and is adding eye-catching tenants West Elm, Williams Sonoma and Bluemercury.
Starbucks, Panda Express planned at Glendale Town Center
Orange chicken and Frappuccinos will be sold from standalone locations near the intersection of North Keystone Avenue and East 62nd Street.
UPDATE: Express files for bankruptcy, announces store closures, possible sale
A consortium that includes Indianapolis-based Simon Property Group has offered a non-binding letter of intent to potentially purchase the majority of its stores and operations. Four Indiana stores are slated for closure, according to bankruptcy papers.
UPDATE: Macy’s to close 150 stores over 3 years as it fights takeover bid
Macy’s Inc., which did not release a list of stores it will shutter, also said it will expand its higher end Bloomingdale’s and Bluemercury chains.
Merchants’ Square shopping center in Carmel sold to North Carolina-based firm
The sale of Merchants’ Square to Big V Property Group from Jericho, New York-based Kimco Realty closed Monday for an undisclosed amount.
Victim lawsuit alleges Greenwood mall owner, security could have stopped fatal shootings
Victims of the July 2022 shooting at the Greenwood Park Mall are suing Simon Property Group and its security company, alleging that the shooting that left three people dead and others injured was foreseeable and could have been prevented.
Nordstrom Rack store planned at Noblesville’s Hamilton Town Center
Nordstrom Rack is the off-price retail division of Nordstrom, and carries merchandise from Nordstrom stores and Nordstrom.com at discounted prices.
Alabama firm buys Keystone, Greenwood shopping centers for $27.5M, seeks more upscale targets
The company’s primary investment focus is unanchored shopping centers located in more affluent areas of major cities. Its founder sees Indianapolis “as one of the most attractive cities in the Midwest.”
Macy’s planning to add 30 small-format stores in strip centers
The department store chain said Tuesday that it aims to add the new small-format locations through the fall of 2025, bringing the total number of such stores to roughly 42.
Long an east-side question mark, Irvington Plaza now has a buyer with plans for redevelopment
A firm owned by a former IU football player is in the early stages of revamping the deteriorating shopping plaza that once served as Irvington’s main retail hub.
Simon expands availability of mall-wide online search tool
Simon Search, which is accessible via Simon’s website and app, and at in-mall digital directories, allows users to browse multiple stores’ inventories at once.
One dead, one wounded in shooting outside Castleton Square
The shooting occurred just before 8 p.m. outside the state’s largest shopping center, the Indianapolis Metropolitan Police Department said.
Holiday sales up 7.6% despite squeeze of inflation
U.S. sales between Nov. 1 and Dec. 24, a period that is critical for retailers, were fueled by spending at restaurants and on clothing.
Holiday procrastinators are back in force. Blame inflation.
This year, supply chain snags have eased and shoppers aren’t as worried about availability as they are about higher prices on everything from rent to food, causing them to postpone their buying until the last minute.
Greenwood mall gunman had fascination with Nazis, mass shootings, police say
Although the three slain victims were Hispanic, there was no indication the shooting was racially motivated, according to Greenwood Police Chief James Ison during a press conference on Wednesday.
Simon turns to Chicago partner to bring online stores to malls
The Indianapolis-based shopping mall giant is getting a leg up on the emerging trend of online-only retailers moving into brick-and-mortar stores, a strategy analysts say could net the company a big payoff as it looks to develop new tenants.
Goodman’s, other stores to leave Nora Plaza as Kite plans changes
The changes come after Indianapolis-based Kite acquired most of the 163,500-square-foot shopping center for $29 million in January.
Reopening of former Lafayette Square Mall postponed
The shopping center at 3919 Lafayette Road, now known as Window to the World, was expected to reopen on Nov. 21, ahead of Thanksgiving weekend shopping.