The CEO of Simon Property Group says the company's "fifth platform" will leverage its huge customer base—its more than 220 properties draw more than 100 million customers who make 2 billion visits a year.
The first store is expected to open in Indianapolis in March at Castleton Square, Simon Property Group and Green Growth Brands announced Monday.
Castleton remains central Indiana’s most expansive retail corridor, but does its retail focus—and its car-centric layout—suggest trouble lies ahead?
Simon Property Group managed improvement in every significant financial category in 2018 despite a landslide of retailer failures. On Friday, CEO David Simon said the company will have to continue to navigate through more store closures.
Simon Property Group Inc. on Thursday raised it outlook for the rest of the year after surpassing analyst expectations in a key quarterly performance category for real estate investment trusts.
Stiffening competition, surging online advertising costs and cheap mall space have prompted web retailers like Warby Parker and Bonobos to open physical stores, including locations in Indianapolis.
Indianapolis-based Simon Property Group and other mall landlords actually might be looking forward to redeveloping Sears’ massive stores with more promising tenants as the once-mighty retailer enters bankruptcy.
The Indianapolis-based shopping mall giant also raised its full-year forecast after exceeding forecasts with its financial results.
The mall posted higher profit and improved sales per square foot in 2017, though retail observers say it remains at a crossroads following the closure of its last department store, Carson’s.
Brian McDade has been with the retail real estate giant for 14 years, serving in various senior finance and accounting roles.
Only about $3 billion of retail real estate changed hands in April, a 27 percent drop from a year earlier and the lowest monthly tally since February 2013.
The two-story location is one of 63 Sears that parent Sears Holdings announced Thursday were “non-profitable” and would be closing.
Kite Realty Group Trust now sports a whopping 8.5 percent annual dividend yield—by far the highest of any publicly traded firm in Indiana—a reflection of the cold shoulder investors are giving retail real estate companies as internet sales soar higher.
David Simon, CEO of Indianapolis-based Simon Property Group Inc., says a “significant number” of tenants are underreporting sales, costing the nation’s largest mall owner a lot of money.
Shopping center giant Simon Property Group Inc. on Friday reported a strong first quarter that exceeded analyst predictions.
The rebound taking shape in parts of the retail industry eluded the owner of the Saks Fifth Avenue and Lord & Taylor department stores, which failed over the holiday season to reverse a decline in same-store sales.
Brookfield Property’s deal to take over shopping center landlord GGP Inc. isn’t winning over Wall Street analysts, nor is it scoring points with investors in retail real estate stocks, including Indianapolis-based Simon Property Group.
GGP Inc., known as General Growth Properties until changing the name a year ago, is the second-largest U.S. shopping mall owner behind Indianapolis-based Simon Property Group.
Andrew Juster joined the Indianapolis-based company in 1989 when it was known as Melvin Simon & Associates.
The collapse of Toys “R” Us Inc. is yet another blow for landlords—including Indianapolis-based Simon Property Group—who now will have gaping holes of suburban retail space up for grabs. And few tenants would want them.
