Retailers pen worker wish lists for holiday hiring rush
Macy’s Inc. plans to hire about 85,000 seasonal workers ahead of the holidays, while other national retailers like Walmart and Kohl’s aim around the 60,000 range.
Shopping Centers
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Simon sees jump in cash flow, sunny skies ahead
Simon Property Group Inc., the largest U.S. mall owner, on Friday reported a 22-percent jump in second-quarter funds from operations and increased its full-year forecast as rising employment helps lure shoppers.
Report: Simon attempts to sell holdings in rival Macerich
If true, the move could signal that Indianapolis-based Simon Property Group no longer is interested in acquiring the rival shopping-mall owner.
Circle Centre promises prompt repairs to Artsgarden leak
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.
Circle Centre reports mixed bag of operating results
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.
Hudson’s Bay moves closer to IPO after $2.6B acquisition
The purchase of Metro AG’s Galeria Kaufhof stores is Hudson’s Bay’s first under its joint venture with Simon Property Group, marking a new era of real-estate fueled growth as retailers try to squeeze more value from their property.
Kroger’s $464M plan for Indy includes new stores, 3,440 jobs
The Cincinnati-based grocer on Wednesday revealed further details of a four-year strategy to solidify its place in the Indianapolis-area market, including new, expanded and remodeled stores.
Macerich faces investor pressure after spurned Simon offer
Land & Buildings Investment Management is teaming with fellow activist firm Orange Capital to push for changes at Macerich Co., the mall owner that rejected a $16.8 billion takeover bid from Indianapolis-based Simon Property Group Inc.
Sears to gain $114 million from real estate pact with Simon
Sears will transfer 10 properties valued at $228 million to a company that it will own jointly with Indianapolis-based Simon Property Group, the companies said Monday.
Simon Property plans $2B share buyback over 2 years
The Indianapolis-based landlord will either purchase the shares on the open market or in privately negotiated deals, Simon said.
Macerich investors want more to clinch mall megadeal
Simon’s acquisition offer is only 6.6 percent higher than Macerich’s average price in the previous 20 days. One reason the premium looks miniscule is because Macerich’s stock had already jumped 24 percent since November on takeover speculation fanned by Simon.
Macerich, Simon shares rise on talk of acquisition
Macerich Co. shares had their biggest increase in three months Thursday morning after the Wall Street Journal reported that Simon Property Group Inc., the largest U.S. mall owner, has made approaches to buy the company.
Simon interested in acquiring West Coast mall owner
Simon Property Group Inc. has approached Santa Monica, California-based Macerich Co. about an acquisition after taking a stake in the company last year, sources say. Macerich, with a market value of $13.3 billion, has a high concentration of West Coast properties.
Radio Shack gets bankruptcy OK to close 45 stores in Indiana
RadioShack Corp. can start getting rid of its inventory right away, a judge said in approving the 94-year-old consumer-electronics chain’s request to begin store-closing sales. The list includes more than a dozen local stores.
Another clothing retailer files for bankruptcy
Cache Inc., which has a store in the Fashion Mall at Keystone, has filed for Chapter 11 protection and might liquidate its inventory. Simon Property Group is the retailer’s largest creditor.
Colts pick Lids in new merchandise management deal
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.
Struggling strip centers reorganizing under bankruptcy
The two centers are owned by Centre Properties and located on the east and west sides of Indianapolis. Meanwhile, in a separate case, a lender is seeking to foreclose on several industrial buildings.
Three Indy-area Wet Seal stores part of mass closings
The Circle Centre and Hamilton Town Center locations of struggling teen clothing retailer Wet Seal are among 338 stores that closed as of Wednesday.
Sales for holiday shopping season come down to the wire
Despite an early start, sales data show that stores may once again have to rely on procrastinators to save the holiday shopping season.
Kite buys Vegas shopping center for $32.5 million
The Indianapolis-based real estate investment trust said the 81,000-square-foot shopping center was fully occupied and would build on its presence in the tourism mecca.