Longtime Simon Property CFO stepping down
Stephen Sterrett joined the predecessor to Simon Property Group Inc. in 1989, before the retailing giant went public in 1993 and eventually became the world’s largest mall developer.
Simon Property Group
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Simon purchases Long Island land from rival Taubman
Simon also purchased the company’s 50-percent stake in Arizona Mills Taubman received $230 million in Simon Property shares and $60 million in cash for the two transactions.
Simon posts strong quarter as mall occupancy strengthens
Occupancy in Simon’s malls climbed to 96.1 percent in the fourth quarter, up from 95.3 percent in the year-ago period as total sales per square foot increased to $582 from $568.
Napolese nibbles on national expansion
Local restaurateur Martha Hoover plans to take her Napolese chain national with help from Simon Property Group Inc.
Circle Centre nears deals for Burger Palace, Yard House, LA Fitness
Three prominent restaurant chains, including one developed by Bobby Flay, and a health club franchise are eying the vacant space formerly occupied by Nordstrom in Circle Centre.
Can Simon’s mall spinoff become a growth company?
There’s not a lot of sizzle among the 54 strip shopping centers and 44 enclosed malls that Simon Property Group Inc. plans to spin off into a new public company early next year.
Group plans $2.8B mall buy from firm with heavy Simon ownership
Carrefour SA joined a group of institutional investors to buy 127 European shopping malls in a $2.75 billion deal with Klepierre SA, which is 29-percent owned by Simon Property Group.
Simon plans for spinoff get warm reception from Wall Street
After recently stalling on the stock market, shares of Simon Property Group perked up in trading Friday after the massive local firm announced plans to spin off nearly 100 retail centers into a new firm. Analysts approved of the move.
Indy-based Simon spinoff will include 13 Indiana centers
The locally based retail giant confirmed Friday morning that its new spinoff will be headquartered in Indianapolis. Several of Simon’s properties in the area will be among the new portfolio, including Clay Terrace in Carmel.
Simon to spin off smaller properties into new public company
The as-yet-unnamed new company will have a separate management team. The company initially will own 54 strip centers and 44 malls.
Barron’s says Simon stock among best for 2014
The owner of hundreds of retail properties landed on the Barron’s list of top stock picks for 2014, with the financial publication citing an improved outlook and an analyst upgrade.
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.
Former Simon exec pleads guilty to fraud in kickback scheme
Carmel resident Mark Palombaro, 55, likely faces prison time after admitting to his role in a scheme that prosecutors say netted him $766,000.
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.
Simon ups dividend after results top analysts’ expectations
Strong demand for space in Simon’s outlet malls helped boost occupancy at its U.S. properties to 95.5 percent, up from 94.6 percent a year earlier.
Alumnus Simon pledges $5 million to Columbia biz school
David Simon, CEO of Simon Property Group Inc., graduated from Columbia Business School in 1985. His gift will help build 450,000 square feet of new facilities on its campus.
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.
Simon’s board wrongfully denied CEO pay vote, lawyers argue
Simon Property Group directors improperly refused to let shareholders vote on changes to the company’s executive-compensation plan that resulted in a $120 million stock award to CEO David Simon, investors’ lawyers argued Monday in court.
Deborah Simon giving $100M to Pennsylvania prep school
The contribution from the daughter of Simon Property Group co-founder Mel Simon is one of the largest gifts ever made to an independent school in the United States.
Is Fido clamoring for a trip to the mall?
Officials at Clay Terrace in Carmel are working on plans to open a dog park on a vacant patch of land along U.S. 31, south of St. Vincent Sports Performance.