Why is the mall of America so successful?

Why is the mall of America so successful?

Retail Mix. The size of the MoA made it possible to do many things other malls could not. In 1992 inventory showed that anchor stores accounted for only 36 percent of the space compared to 64 percent for specialty stores. This enabled the MoA to have more than 520 stores compared with less than 150 at other malls.

Is Mall of America successful?

Mall of America is one of the largest taxpayers in the state and has generated more than $1.2 billion in tax revenue since it opened. Annually, MOA generates nearly $2 billion in economic impact. The average dollar amount spent per visit at MOA is 52 percent higher than the nationwide average spent at shopping malls.

What is so great about the Mall of America?

Mall of America is the largest retail shopping mall in the United States with more than 2,779,242 million feet of retail space (not including the amusement park), over 520 stores, 50 restaurants and Nickelodeon Universe®, the nation’s largest Nickelodeon® theme park with 24 amusement park rides including a roller …

What is Mall of America worth?

It’s a huge deal. The deal would establish a value for the 4.2-million-square foot megamall at over $2 billion, according to real estate investors, brokers and finance professionals. That makes the Mall of America Minnesota’s single most valuable real estate asset, and it isn’t even close.

What is so special about the Mall of America?

Is Mall of America dying?

About 20% of 1,000 US malls will close or go through a “major repurposing,” but “the American mall is not, in fact, dead,” according to a new analysis from Moody’s Analytics. Moody’s predicts that one-fifth of American malls will either be renovated, repurposed, or razed to make way for new properties.

What does the Mall of America have?

MOA boasts more than 520 stores, 60 restaurants, Nickelodeon Universe (a 7-acre indoor amusement park), SEA LIFE Aquarium, a comedy club, world-class gaming and entertainment centers, the LEGO Store, mini-golf and tons of other family attractions and nightlife options.

What is the history of the Mall of America?

Also called MOA, the Mall of America® is located in Bloomington, Minnesota, just outside Minneapolis, and is the largest mall in the country. Mall of America® broke ground in 1989 on the former site of the Metropolitan Stadium and in 1992 officially opened its doors to the world.

Is the Mall of America still in business?

Mall of America opened its doors to the public on August 11, 1992. In spring 2020, Mall of America closed for a period of twelve weeks in response to the COVID-19 pandemic, closing on March 17, and reopened on June 10 with only 150 tenants open for business.