Latest news with #HerbSimon
Indianapolis Star
24-07-2025
- Business
- Indianapolis Star
Simon family buys more land near Gainbridge in what could be sports entertainment district
Real estate mogul and owner of the Indiana Pacers Herb Simon and his family are buying up more property downtown to cobble together properties around Gainbridge Fieldhouse for what could become a Simon-owned sports entertainment district. A holding company the Herb Simon family owns acquired the buildings at 231 and 235 S. Meridian St. for a combined $4.5 million dollars in late June, property records show. The purchase follows a handful of land acquisitions the Simons have signed in the past year and a half. The Simons own land immediately to the east and west of the official Pacers facilities and could be looking to marry their interest in the Pacers' success with the success of downtown development. Phil Bayt, a spokesperson for the family, said the Simons jumped at the chance to buy the two latest properties. There are no immediate plans to redevelop the buildings, Bayt said. "We have no immediate plans for the buildings and some of the tenants have time left on their leases," Bayt said in a statement to IndyStar. "We intend to be thoughtful and deliberate as we formulate their future reuse." One of the properties, 231 South Meridian, was home to Tiki Bob's Cantina, a popular bar at the center of a 2023 IndyStar investigation into crime and violence at Indianapolis bars. Tiki Bob's closed a few days later following a spate of more violence, but its palm tree sign still hangs on the front of the building. The properties could offer an opportunity to expand hospitality offerings where the family has complete control over the entire block, said Sara Coers, the associate director of the IU Center for Real Estate Studies. "They are consolidating their interests and trying to bring everything under a single strategic vision," Coers said. "The more they consolidate their holdings, the more they can keep it desirable, and they have great relationships with tenants to get them there." The Simons are well-known in the Indianapolis community for their shopping mall empire founded in 1960 and professional basketball team ownership, dating back to 1983. Rarely have the two interests been publicly intertwined. But it is becoming increasingly common for sports teams to invest in real estate and the Simons, with their real estate experience, start ahead of the game. Locally, the family has a reputation as a savvy developer with strong connections inside City Hall and plenty of money to get projects off the ground with fewer economic incentives. "Their ability to execute is very attractive, and they are most likely able to pay more than what others are because they are atypically motivated," Coers said. The Simons have "the wherewithal to accomplish things downtown." The handful of land acquisitions comes less than two years after Simon Property Group sold the massive Circle Centre Mall complex, a move that was likely a strategic business decision for stakeholders, as the company is publicly traded. Meanwhile, the acquisitions directly by the Simons suggest the family is expanding further into the hospitality sector in the southeast quadrant of downtown and could be on the cusp of creating an immersive sports entertainment district. Master-planned entertainment districts have emerged as a way to ensure a healthy flow of cash into the coffers of sports franchises and build dense urban neighborhoods where people want to live, work and play, boosting local economies in turn. The Simon family has acquired at least six properties surrounding Gainbridge Fieldhouse in the past three years, counting these two latest purchases. Their holdings include a mix of parking lots and historic buildings at: The Simons, through a spokesperson, have announced plans for one of the above parcels, the 230-240 S. Pennsylvania St. plot, which is an active construction site after the recent demolition of the former CSX building. A city commission approved money to buy and redevelop the Washington Street parking lot, which a Simon entity bought in November 2024. Gary Perel and George Sechrist of ALO Property Group represented the seller of the 231 and 235 South Meridian properties. Sechrist said they fielded interest from multiple buyers, but this was a clear choice. "Initially yes, there was some interest from other buyers, but ultimately we saw the most value with going with the Simons," Sechrist said. Shinola hotel: Historic preservation commission approves Shinola hotel, demolition of CSX building Some of the acquired properties fall within the site of a Major League Soccer stadium the city wants to see built. That area has seen a flurry of property sales since Mayor Joe Hogsett announced his intentions to build a professional league stadium at what is now the downtown Indianapolis heliport, but some of the Simon property purchases predate the mayor's public announcement. Even if the soccer stadium does not come to fruition, the Simons are well-positioned to grow their physical presence downtown. Though the Simons do not own Gainbridge Fieldhouse — the Capital Improvement Board owns the fieldhouse and signs operating agreements with the Fever and Pacers — investing in a real estate bubble centered around the arena would capitalize on the team the family has owned for 40 some years and give the family more control over the experience fans have on game day. (The CIB will also own the future Fever practice facility, but Pacers Sports and Entertainment will privately finance the entire build.) "You want it to become a destination," Coers said. "A lot of what they are doing is for long-term growth and prosperity around Gainbridge." More: How the new $78 million Fever practice facility fits into Indianapolis' plans for downtown
Yahoo
14-07-2025
- Sport
- Yahoo
Pacers' front office breaks silence on ‘challenging' Myles Turner decision
The post Pacers' front office breaks silence on 'challenging' Myles Turner decision appeared first on ClutchPoints. It was no doubt a shocking move to see former Indiana Pacers star Myles Turner sign with the Milwaukee Bucks after negotiations with his former squad, leading to questions about how dedicated the team was to retaining the big man. While some could label Turner's leaving as a big mistake for the Pacers, the team's president of basketball operations, Kevin Pritchard, spoke about the negotiations and the 'challenging' aspect of it. Advertisement First, Pritchard would say to the media that the team was 'fully prepared to go deep into the tax' to retain Turner, according to WISH-TV News. 'I don't want to get into the specifics of Myles, because the truth is, he gave 10 great years here, I loved having him be here, I hope I'm friends with him for a long time,' Pritchard said. I know this, that Herb Simon and Steven Rales, and the Simon family were fully prepared to go deep into the tax to keep him, and we really wanted to do that. And we were negotiating in good faith, but what happens in this league is sometimes you're negotiating, but because a guy is unrestricted, he has the right to say, 'That's the offer I want, I'm going to take it, and that's best for my family.' And again, we were in good-faith negotiations.' Pacers' Kevin Pritchard on 'challenging' Myles Turner situation Trevor Ruszkowski-Imagn Images As fans wonder what the final offer the Pacers gave Turner was, he is now a part of the Bucks after 10 seasons with the team that drafted him in the first round of the 2015 NBA Draft. Prichard would speak about the 'challenging' aspects of the business, which are the sudden turn of events that can take place. Advertisement 'It was a little surprising that you know how Milwaukee created that. I don't know if you know, we always say in our conference room, there are cap teams that have cap space, and there are shadow teams that have cap space,' Pritchard said. 'You can go get but it becomes very challenging by buying out or making trades, and a hat tip to Milwaukee to do that. So I think the most important thing is, we were deep in conversations with Myles, and then, and then we saw that he'd accepted an offer with Milwaukee.' 'Again, that's part of this business that is challenging,' Pritchard continued. 'I can tell you this also, that there are two kinds of things that I believe that it was kind of fundamental to the league right now, and that is, change is inevitable, and expect the unexpected.' At any rate, Indiana will look elsewhere to improve their team after making the NBA Finals. Related: Pacers reuniting with James Wiseman after Myles Turner's Bucks departure Advertisement Related: Bucks' Myles Turner signing becomes official with no Pacers sign-and-trade
Yahoo
08-07-2025
- Sport
- Yahoo
NBA｜端拿過檔公鹿 溜馬主席自爆從社交媒體得知 消息震驚全隊
印第安納溜馬主席Kevin Pritchard表示，他和所有人一樣，是從社交媒體上得知己隊的中鋒端拿（Myles Turner）轉投密爾沃基公鹿的消息。他當時看到的是《ESPN》名Shams Charania在 X（前稱Twitter）上的貼文。 Pritchard 在美國時間周一接受傳媒訪問時提到多個話題，其中包括端拿震撼離隊的事件。為了讓交易成事，公鹿早前決定裁掉受傷的球星利拿特（Damian Lillard）。 Pritchard 直言自己對此感到「極度震驚」，指球隊從未預計公鹿會成為買家。 「我們原本也願意進行先簽後換（sign-and-trade），這樣對大家都好，但很可惜我們根本未走到這一步。我是從貼文才得知，端拿被搶走了。」 端拿在溜馬整個季後賽期間一直是球隊的重要支柱，作為一名6呎11吋的中鋒，他不僅能護框防守，還能拉開空間、具備射三分的能力。 在哈利保頓（Tyrese Haliburton）於第七戰重傷跟腱前，外界普遍預料溜馬將與端拿續約，在競爭力稍弱的東岸再次衝擊冠軍。然而 Pritchard 周一證實，哈利保頓將因傷缺席整個2025-26球季。 #Pacers president of basketball operations Kevin Pritchard on Myles Turner signing with the Bucks:"Herb Simon and Steven Rales and the Simon family were fully prepared to go deep into the tax to keep him, and we really wanted to do that." — WISH-TV News (@WISHNews8) July 7, 2025 即使如此，幾乎沒有人預見端拿竟會選擇轉投公鹿。消息一出，外界立即批評溜馬太過「吝嗇」，不願為保留具爭冠實力的陣容而繳納豪華稅。 對於這種批評， Pritchard 否認了，並表示球隊老闆Herb Simon及Steven Rales其實早已準備好為端拿大灑金錢。「他們已準備好付出豪華稅來留下端拿，我們亦真的很希望能做到，我們是以真誠的態度談判的。」 「但在這個聯盟，事情有時就是如此，儘管雙方在談，但球員是完全自由身，他有權利說：『這是我想要的合約，我要接受，這對我家庭最有利。』」Pritchard 亦補充，他對公鹿能夠成功清出薪資空間簽入端拿一事感到「有點驚訝」。 公鹿為端拿開出一紙四年1億零700萬美元合約，並以裁掉利拿特的方式完成操作，再利用「攤提條款」（stretch provision），將利拿特剩下的兩年合共1億1,300萬美元薪酬分攤至五年處理。與哈利保頓一樣，利拿特亦為跟腱撕裂，預計將缺陣下季大部分甚至全部賽事。 公鹿今次行動是為了短期爭勝，希望憑端拿協助重建球隊競爭力，並爭取令當家球星字母哥（Giannis Antetokounmpo）感到滿意。至於這筆交易是否真能提升公鹿整體實力，仍有待觀察。 但有一點幾乎無可爭辯：端拿的離開，將削弱溜馬實力。而僅在數週前還充滿希望的2025-26球季，如今突然變得充滿未知。 作者：Jason Owens 原文： Pacers president Kevin Pritchard was 'shocked' by Myles Turner-Bucks deal, says he learned about it on social media: 'I saw Shams tweet it'
Forbes
27-06-2025
- Business
- Forbes
Lucky's Steakhouse Replaces Beloved East Hampton Restaurant
A steak dinner at Lucky's Steakhouse in East Hampton A 25-year-old California institution is expanding to the East End. Lucky's Steakhouse will open its fourth location at the end of June, expanding its presence beyond Montecito, Malibu, and Soho to yet another ritzy locale: East Hampton. The California-based restaurant is replacing the recently shuttered Cove Hollow Tavern at 85 Montauk Highway. Following the Ina Garten-lauded restaurant's final service on May 31, 2025, Lucky's retained the staff of the former institution, honoring local ties and ensuring familiar faces at the front of house (hiring peak season in the Hamptons is also a notable challenge). Fans of Cove Hollow Tavern can find some of the restaurant's beloved dishes at their sister restaurant, Vine Street Cafe, on Shelter Island. Lucky's Steakhouse was founded by Gene Montesano of Lucky Brand Jeans, along with his friends Herb Simon and Jimmy Argyropoulos, Herb's daughter Sarah Meyer Simon is leading the brand's East Coast expansion. A seafood tower at Lucky's Steakhouse in East Hampton 'We opened Lucky's in Montecito in 2000, creating a place where friends could enjoy a great meal in a comfortable atmosphere and be treated like family," shared Herb Simon. "Two decades later, we brought that same spirit to Malibu. In July 2024, SoHo followed—a small neighborhood restaurant with great food and atmosphere. Next up is East Hampton, where I have a home and spend my summers, and needless to say I'm excited to bring the Lucky's experience to the Hamptons.' Dining at Lucky's Steakhouse East Hampton East Hampton has no shortage of great spots for steak (East Hampton Grill, The Palm) and Lucky's will join the steakhouse selection with dry-aged USDA Prime steaks and more menu items familiar to their guests in California and SoHo. Highlights include Gene's Filet (filet mignon, fresh horseradish, red-wine sauce), the Lucky's Salad (romaine, shrimp, bacon, avocado & Roquefort), and Skinny Onion Rings (thin frizzled onions). Hamptons-exclusive plats du jour, inspired by the local fare, plus a raw bar, will also be served. A white tablecloth dinner service at Lucky's Steakhouse To drink, tableside martini service, an extensive wine list, and full bar, of course. The East Hampton Lucky's is very much inspired by the original Montecito location. Longtime artistic collaborator Peter Horjus painted Jazz Age-inspired murals of East End scenes to adorn the space along with new furnishings crafted by French atelier Maison Gatti. Lucky's East Hampton will be open on weekdays from 5 p.m. - 10 p.m. and 11 a.m. - 10 p.m. on weekends. Reservations available via OpenTable, and walk-ins are welcome.
Yahoo
23-06-2025
- Sport
- Yahoo
'It's so special to be a Pacers fan': Pacers owner Herb Simon thanks fans for support in NBA Finals season
If you buy something through a link in this article, we may earn commission. Pricing and availability are subject to change. Indiana Pacers majority owner Herb Simon thanks the fans who helped carry the team to the NBA Finals. "To the best fans in basketball — thank you. The way you showed up for our Pacers this season was unlike anything I've ever seen," the team posted on social media. "This team united our city and state, gave us memories for a lifetime, and reminded us all why it's so special to be a Pacers fan. I'm grateful to all of you for a historic and truly unforgettable season." Advertisement The Pacers took the season to the limit before losing to the Oklahoma City Thunder 103-91 in Game 7. Simon, the 90-year-old Indianapolis-based shopping mall magnate, has owned the team since he and his late brother Mel bought it in 1983. He was inducted into the Naismith Memorial Basketball Hall of Fame in 2024. Stephen Simon, Herb's son and next in line to run the franchise, thanked the team on social media. "Can never express how much love I have for these guys, one of the great runs in NBA playoffs history. Still crying for @TyHaliburton22, you are a warrior and a beautiful human as are the rest of the @Pacers" This article originally appeared on Indianapolis Star: Pacers owner Herb Simon thanks fans for support in NBA Finals season
