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INDIANAPOLIS-Locally based Simon Property Group says that a multimillion-dollar expansion of Castleton Square should open in time for the 2007 holiday shopping season. Simon is adding a lifestyle component to the south end of its 1.26-million-sf super-regional mall here that will include a 14-screen movie theater, a Borders bookstore and a variety of small shops and restaurants.

A Simon spokesman says that the project is being constructed on the site of the former L.S. Ayres store, which the company acquired from Federated last spring. Borders will occupy 25,000 sf of the new lifestyle component, which also includes a 2,500-seat megaplex operated by AMC and 25,000 sf of multi-tenant retail. Company officials say that the addition of Borders and the AMC theater will help solidify the center's role as both a shopping and entertainment destination.

The Simon spokesman adds that with the expansion the mall owner will be able to accommodate a number of retailers that have already shown interest in being part of the Castleton mix. He says that additional tenant announcements will be made in the coming months. Castleton, the largest mall in Indiana, is anchored by Macy's, Von Maur, JC Penney, Sears and Dick's Sporting Goods.