Retail trade group sees modest holiday sales gain
The National Retail Federation, the nation's largest retail trade group, expects winter holiday sales to rise 2.8 percent, to $465.6 billion this year.
The National Retail Federation, the nation's largest retail trade group, expects winter holiday sales to rise 2.8 percent, to $465.6 billion this year.
The 617 parking spaces at the newly renovated Rivers Edge shopping center meet the minimum commercial-zoning allotment—but just barely.
An attorney for the downtown Indianapolis mall has filed to dismiss the complaint, saying the two sides have resolved the dispute through an out-of-court settlement.
High-end custom homebuilder Moussa Khoury and a partner bought the former Macy’s store at Washington Square Mall in 2009 for about $775,000. They paid cash since commercial lending had vanished. Two years later, the investment has begun paying off.
Lender Merrill Lynch Mortgage Trust is foreclosing on several Indianapolis commercial properties, including two retail centers, owned by Greenwood developer Presnell Cos.
A lawsuit filed by the downtown Indianapolis mall accuses Cinnaworks LLC, a franchisee of Cinnabon, of failing to pay its $6,751-per-month rent.
The massive space in Circle Centre mall vacated by high-end retailer Nordstrom could be used to host corporate events surrounding the big game.
Indianapolis-based Simon Property Group Inc. said funds from operations rose 20 percent in the second quarter as rents and occupancies increased. The company raised its forecast for the year.
Brokers expect strong demand from other retailers, in part because the failed bookstore chain carefully chose its real estate, opting for locations near concentrations of affluent and educated consumers.
Borders Group Inc.’s proposed liquidation will increase available U.S. retail space by about 6.3 million square feet as the industry struggles with near-record vacancy rates and stagnant rents.
Merchants’ Square shopping center, built in 1970 as the enclosed Keystone Square Mall and redeveloped into an open-air center and renamed in the mid-1990s, is riddled with vacancies and bracing for another high-profile departure, despite its prime location.
Nordstrom occupies a staggering 210,000 square feet spread across three floors—60 percent more space than the Seattle-based chain occupies at the Fashion Mall at Keystone and likely more than any single retailer would be willing to lease.
Anchor store Carson Pirie Scott negotiated a new lease in January, giving the downtown mall added stability at a key time.
Company President Erik Nordstrom said sales have fallen by half at the Circle Centre mall store since Nordstrom opened a Keystone Crossing location in 2008. The downtown store will close July 31.
Nordstrom plans to close its store at Circle Centre mall, dealing a substantial setback for downtown. The Seattle-based chain was scheduled to announce the closure to employees at a mandatory staff meeting Thursday morning, a person familiar with the plans told IBJ.
Indianapolis-based Simon Property Group Inc. said Monday that it will open an outlet shopping center in Ontario, the first of the shopping mall owner's line of Premium Outlets-brand shopping centers in Canada.
Lifeline Data Centers, which bought Eastgate in 2008, plans to invest $10 million into the property this year if the Department of Public Safety moves forward with plans to lease 78,000 square feet.
Simon Property Group Inc., the largest U.S. shopping-mall owner, said funds from operations rose 75 percent in the first quarter as retail sales climbed.
The shopping center on U.S. 31 is the third Broadbent-operated strip mall to fall into bankruptcy and its second in Greenwood to claim financial problems.
An entertainment venue featuring a bowling alley, concert hall and restaurant is set to replace a vacant movie theater.