A few years ago, the Simon Property Group saw a need to build a new corporate headquarters. Unless the City gave up public park space across the street from the State House, free use of a city-owned parking garage and public incentives worth at least $25 million for its new headquarters, the Simon company might have to move its company headquarters out of
And then there's this story in today's IBJ by Cory Schouten about a lawsuit alleging unfair business practices by Simon Property Group.
One of Indiana’s largest privately held developers is suing Simon Property Group Inc., alleging the nation’s largest mall owner abused its “market power” to bully two national retailers into backing out of leases at a lifestyle mall near Mishawaka.It looks to me like there is a clear pattern emerging of how the Simons conduct their business affairs. Isn't it time the taxpaying public gave them a dose of their own medicine? Let's stop supporting their NBA team, their corporate give-aways and spending our money at their malls until they learn how to play fair. I don't know about you, but I've had my fill of this "Simon says, Indy does" routine.
An entity tied to South Bend-based Holladay Properties Inc. alleges in court filings in St. Joseph County that Simon used “anti-competitive tactics” to pry Ann Taylor Loft and Lane Bryant, committed tenants of its Heritage Square lifestyle mall, to open stores in the nearby Simon-owned University Park Mall instead.
Holladay says Simon also tried unsuccessfully to persuade Coldwater Creek and Eddie Bauer to back out of lease deals at the 230,000-square-foot Heritage Square, which broke ground in 2006.
In the case of Eddie Bauer, Holladay claims Simon CEO David Simon personally appealed to the retailer’s CEO to break the Heritage Square deal and open in Simon’s answer to the new Holladay-owned mall: a 100,000-square-foot lifestyle component added in 2008 to University Park Mall.