Target to close Castleton store
Eleven underperforming locations in all will be eliminated by the Minneapolis-based retailer, it announced late Tuesday.
Shopping Centers
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Sandor starts to build retail projects again
The locally based strip-center owner and developer is nearing completion of a small retail project near 106th and Michigan Road on the western edge of Carmel. It’s the company’s first retail project since the recession.
Simon profit dips but outlook improves
Simon Property Group Inc. on Wednesday said its third-quarter profit fell due to recent costs related to refinancing its debt, but that otherwise performance for the quarter was strong.
Renovation with recliners coming to Circle Centre movie theater
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.
Shopping malls brace for wave of consolidation
There’s a hunger in the retail industry for lower-tier, “B” shopping centers, seen as a bargain by potential owners. A $4.3 billion deal in the works involving a Simon Property Group spinoff could trigger more transactions.
Washington Square Mall losing biggest tenant
Sears Roebuck and Co. plans to close its 194,680-square-foot anchor store in early December, the retailer confirmed Monday. A liquidation sale began Friday.
Reservoir talk not moving Mounds shopping mall
Mounds Mall leasing official Jesse Wilkerson said new tenants are being actively sought for the mall, but it is exploring options for relocating, if necessary.
Meijer planning to build store in Glendale area
The big-box retailer wants to create a 200,000-square-foot store at the southwest corner of 56th Street and Keystone Avenue in a project that would dramatically recast a section of one of the city's busiest commercial corridors.
Simon Property CEO says ‘no deal’ in Australia after report
The Australian reported that Indianapolis-based Simon may bid for CFS Retail, potentially keeping CFS’s premium shopping centers and selling second-tier properties.
Shapiro’s to open restaurant in Fashion Mall
The 4,200-square-foot restaurant will be about 60 percent smaller than Shapiro’s downtown flagship location, but will carry most of the same menu items the deli is known for, plus some new ones.
Simon hands over Washington Square to lender
Simon Property Group Inc. has given up on the struggling Washington Square Mall, turning over control to a lender.
Love Culture’s plans approved over Simon’s objection
Love Culture Inc., the bankrupt clothing chain, won court permission to hold expedited store-closing sales, over the objection of unsecured creditors, including Indianapolis-based Simon Property Group Inc.
Simon suing ShopperTrak over use of mall cameras
A subsidiary of Simon Property Group Inc. is suing the world’s largest retail traffic counter, claiming it’s unjustly profiting from cameras installed in stores at Castleton Square Mall.
Shopping mall owner offers $5.6B for competitor
Klepierre SA, which is partly owned by Indianapolis-based Simon Property Group, has offered to buy Dutch competitor Corio NV to solidify its position as Europe’s second-largest publicly traded-shopping mall operator.
Simon sues insurance companies over fatal escalator accident
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.
Washington Prime buys Clay Terrace stake from Lauth
Simon Property Group spinoff Washington Prime Group on Monday announced deals worth about $326 million involving at least seven shopping centers, including Clay Terrace in Carmel.
Shares of Simon spinoff dip in early trading
Simon Property Group has revised its earnings forecast with the Thursday launch of spinoff firm Washington Prime Group.
Shares of Simon Property spinoff to begin trading
Washington Prime Group Inc., listed under the “WPG” ticker symbol, will begin trading Thursday. The new real estate investment trust will own 98 retail properties, including 13 in Indiana.
Simon partner looks to buy out co-owners in expansion drive
Paris-based Klepierre SA, whose largest shareholder is Simon Property Group Inc., plans to spend as much as $686 million a year on expansion.
Circle Centre reports higher occupancy, lower revenue
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.