“They said there would be new management,” the person said. The individual said Simon first told tenants about the change in March but offered limited details. Circle Centre is a totally different animal.” Most malls, there’s no trouble with managing them. Simon is really good at property management. “It’s been a struggle for them to keep tenants in the mall because of the unique nature of the property. “I think decided it was time for a fresh set of eyes, and I would agree with that,” one store owner said. Some tenants said they were not aware of the change in management until contacted by IBJ.Īll of the tenants who spoke with IBJ did so on the condition of anonymity, out of fear of retaliation. Multiple mall tenants told IBJ they received letters earlier this week sharing the news, but most of them said they don’t know exactly what the change will mean for the future of the property. Simon had managed the mall from the outset. and other investors that put $75 million into the original development in 1995-leases it through an agreement with the Department of Metropolitan Development. But Circle Centre Development Corp.-a partnership that includes Simon, Eli Lilly and Co. The mall-except for the former Nordstrom space-is owned by the city. JLL sent a letter, dated April 21, to the mall’s tenants to inform them of the change, indicating it is in the process of hiring a general manager for the property. confirmed to IBJ the management transition had been finalized. Indianapolis-based Simon retained JLL to start providing services at the four-story shopping center on April 1, although Simon will continue to oversee leasing.

Chicago-based brokerage JLL has taken over the day-to-day management of Circle Centre from Simon Property Group after the latter ran the downtown mall for 26 years.

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