Skip to main content

Mall of America begins pitching expansion to future tenants

  • Author:
  • Updated:
    Original:

That 150,000 square feet of new retail space at the Mall of America isn't going to lease itself.

So what if financing for what's being called Phase 1C isn't yet finalized. The Business Journal reports that the Bloomington behemoth is already marketing the new retail space that will be built on the north side of the property to prospective tenants.

The story said the mall sent representatives from its leasing group to the International Council of Shopping Centers meeting in New York on Monday and Tuesday to pitch the project. The retail expansion is expected to go after higher-end tenants.

Finance & Commerce last month reported that the $270 million Phase 1C expansion will be concentrated on the north side of the mall and will push out over the existing parking area to accommodate three levels of retail. A new luxury hotel and a 210,000-square-foot office building will sit atop the addition. Phase 1C also calls for two levels of underground parking.

Construction is expected to begin in early January with completion tentatively set for fall 2015.

The larger Phase II development will follow, with the construction of additional retail space and attractions including a hockey rink and a waterpark hotel. According to the mall website, the completed expansion is expected to draw up to an additional 20 million visitors annually, almost doubling the economic impact to the state to an estimated $4.3 billion.

The mall is currently 95 percent occupied with some 520 stores and employs 15,000.

Next Up

image

Animal Humane Society plans trailblazing new campus

Take a look inside the plans for a first-of-its-kind adoption center and animal care campus.

syphilis

Minnesota reports 'concerning level' of syphilis cases

The Minnesota Department of Health says most of the cases are being discovered in the northern part of the state.

Flickr - police lights squad siren - Edward Kimmel

Airport police intercept 5,600 fentanyl pills headed to St. Cloud

Three were arrested following a police raid in St. Cloud.

covid

Minnesota switches to weekly COVID updates

The weekly updates will be provided on Thursdays.

Screen Shot 2022-06-29 at 12.22.08 PM

Man shot inside Oakdale movie theater expected to survive

The 23-year-old victim underwent surgery and is recovering at the hospital.

monkeypox

Minnesota confirms second case of monkeypox virus

More cases are expected in the coming days and weeks, the health department says.

covid

Minnesota's COVID-19 update for Wednesday, June 29

One of the newly reported deaths was a person aged 15-19 from Yellow Medicine County.

Screen Shot 2022-06-29 at 10.19.37 AM

Drone drops bag of candy near kids fishing

A black SUV quickly left the area afterwards.

FLickr - AL Franken 2016 - Lorie Shaull

Al Franken to bring comedy tour to Minneapolis

Acme Comedy is hosting the former senator in late August.

Alabama

Alabama replaces Toby Keith as headliner at MN music festival

The Lakefront Music Festival is set to take place in Prior Lake on July 8-9.

Related