The Indianapolis-based real estate firm said the properties total 2 million square feet and are mostly located in Florida, Georgia and Texas. The acquisition would bump the size and value of Kite’s portfolio by about 20 percent.
A years-long fight between Marion County and mall developer Simon Property Group Inc. has moved to the Indiana Tax Court as a judge weighs vastly different estimates of the values of Lafayette Square Mall and Washington Square Mall.
The Michigan-based owner of the Indiana mattress stores plans to take them upscale with a signature sleep-diagnostic system.
Simon Property Group now is the largest real estate company in the world and has a stock market value of $59 billion. That’s $6 billion more than Eli Lilly and Co., not that Simon's hypercompetitive CEO, David Simon, has noticed.
Due to absences on the Indianapolis Metropolitan Development Commission, attorneys for both sides of the issue on Wednesday agreed to continue the controversial rezoning request to the group’s Oct. 16 meeting.
The holiday period is particularly important for retailers this year since spending was weak during the back-to-school shopping period, the second-busiest shopping months of the year.
Shopping mall owners like Simon Property Group, the best-performing U.S. property stocks for four years, have tumbled to the worst as sluggish retail sales and limited opportunities to expand drive investors to look elsewhere for earnings growth.
A federal lawsuit alleging monopolistic behavior by Simon Property Group Inc. likely will proceed to trial after a federal judge in South Bend denied a motion by the Indianapolis-based mall giant to dismiss the 3-year-old case.
Financial terms of the agreements, announced in a written statement, were not disclosed, but the mortgages involve tens of millions of dollars in debt on retail properties spread throughout the area.
A local developer has received city approval to rezone 10 acres at Fall Creek Parkway and East 56th Street as part of a plan to demolish a mostly vacant retail center and replace it with a 42,000-square-foot anchor grocery store and other shops.
The downtown mall last year saw its sales per square foot increase to $354, a 5.3-percent increase from 2011, according to an annual operating report it provides to the city. But non-anchor occupancy slipped below 90 percent.
The retail center, off East 82nd Street, near Interstate 465 and Allisonville Road, is fully leased and is anchored by HomeGoods, Burlington Coat Factory and Shoe Carnival.
The Indianapolis-based owner of retail centers raised its expectations for the fiscal year after reporting solid gains in occupancy, rent revenue and earnings for the first quarter.
Indianapolis-based Simon Property Group Inc. is among borrowers funding projects from rooftop solar panels to energy-savings systems using so-called Pace financing.
Already one of the most highly regarded CEOs in Indiana and in his industry, David Simon of Simon Property Group now is keeping company with the likes of Warren Buffett, Amazon’s Jeff Bezos and Larry Page of Google.
The developer of Nora Plaza is planning a $2 million redevelopment of a building that formerly housed Café Nora in the popular north-side shopping center, and anchor Whole Foods is expanding into 5,700 square feet of space north of its existing store.
As local activists push for stronger steps to curb disruptive gatherings by teenagers at local shopping malls, Simon Property Group is standing by a corporate policy against restricting access to its properties.
The owner of Castleton Square Mall is suing its former tenant for $471,031 following the restaurant’s closing late last month.
In December, the Indianapolis-based real estate investment trust bought two shopping centers in Greenville, S.C., using proceeds from its recent $60 million stock sale.
Shoppers were buffeted this year by a string of events that made them less likely to spend. The numbers also show how Washington’s current budget impasse is trickling down to Main Street and unsettling consumers.
