Record shopping crowds over weekend, but spending falls
Retailers got Americans into stores during the start to the holiday shopping season. Now, they'll need to figure out how to get them to actually buy things.
Shopping Centers
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Shoppers flood stores in bargain-hunting spree
Faced with smaller crowds of less confident consumers, as well as six fewer days between Thanksgiving and Christmas than last year, retailers are pouring on margin-eating discounts to grab market share.
Americans reluctant to spend on holidays without big deals
Since the recession began in late 2007, stores have had to offer financially-strapped Americans ever bigger price cuts just to get them into stores. But those discounts eat away at profit.
Simon’s decision to open malls on Thanksgiving draws criticism
An online petition drive launched by employees of stores in Simon properties urges the company to rethink a decision to open its malls at 8 p.m. on Thanksgiving. One petition so far has gathered nearly 18,000 signatures.
Kite Realty raises $217.3M in secondary share offering
The local rest estate investment firm says it will use some of the proceeds to repay debt and the rest to fund part of its recent $307 million purchase of nine Southern retail properties.
Kite Realty to pay $307M for 9 retail properties
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.
Marion County, Simon tangle over value of malls
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.
Eight Mattress World locations to rebrand as PureSleep
The Michigan-based owner of the Indiana mattress stores plans to take them upscale with a signature sleep-diagnostic system.
Simon’s 20-year run has made investors a bundle
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.
City delays decision on Broad Ripple project
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.
Analysts predicting slow holiday shopping season
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.
Mall owners go from first to last in REIT market
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.
Simon suffers setback in antitrust suit
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.
Centre Properties escapes foreclosure on 12 properties
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.
Aging east-side shopping center to be redeveloped
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.
Circle Centre hanging in despite anchor vacancy
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.
Kite buys Castleton Crossing center for $39M
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.
More demand for mall space boosts Simon earnings
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.
Simon taps Pace bonds to fund energy projects
Indianapolis-based Simon Property Group Inc. is among borrowers funding projects from rooftop solar panels to energy-savings systems using so-called Pace financing.
Barron’s enthrones Simon among world’s best CEOs
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.