French: ‘Perfect Time’ to Repurpose Circle Centre
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAs some point to an uncertain future for Circle Centre mall, one retail expert says he is excited about what could be a new chapter for the downtown Indianapolis shopping center. "This is the time to repurpose and redevelop the mall," said Cushman & Wakefield Executive Director Bill French. "Downtown is on such a roll… perfect timing." The nearly 25-year-old center has been beset by store departures, most recently Carson’s, which is closing its 145,000 square-foot Circle Centre store as part more than 40 chain-wide closings announced by parent Bon-Ton Stores Inc.
In an interview on Inside INdiana Business with Gerry Dick, French said there are multiple options when it comes to finding a new tenant mix for the mall.
February 19, Simon Property Group and the mall’s ownership group announced plans for a multi-million dollar facelift, the largest in Circle Centre history. Simon described the upgrades as a "multi-year project" that will include:
- A complete remodel of restrooms including bright new finishes, floors and fixtures
- New lighting and way-finding signage in the mall and adjacent garages
- New flooring in various areas, including: mall entrances and the south rotunda corridor
- An upgrade to finishes in the new Georgia Street Court and a new connection to Meridian Street on the southeast side of the property
- A modernization of the glass feature elevators on the north end of the property
- The addition of a fresh, bright color scheme throughout the property
- Additional soft seating areas with charging stations in convenient locations throughout the common areas
- A "refresh" of the Arts Garden façade, including new lighting above the intersection of Washington and Illinois Streets
- An improvement in Wi-Fi connectivity
John Talbott, Associate Director of the Center for Education and Research in Retailing at the Indiana University Kelley School of Business, said the Carson’s exit presents a golden opportunity in a changing retail environment. "People’s preferences are changing continuously," said Talbott. "Sometimes, things like this give us an opportunity to catch up to changes and preferences."
View the full interview: