Event Recap: MOA – The City within a City

November 3, 2014 at 1:11 pm

NAIOP_Room_to_Grow_webBy Nancy Burke, Gray Plant Mooty

Did you know the Mall of America (MOA) is the size of 258 Statutes of Liberty, has the value of eight IDS Towers and has 40 million visitors a year? That’s more annual visits than Walt Disney World and Disneyland combined! NAIOP Minnesota’s “Room to Grow:  How Mixed-Use Can Fuel Expansion” October breakfast program offered this and other fascinating insights into the enormous business enterprise of the MOA. The audience heard from three MOA team members and watched a short video.

  • Maureen Bausch, MOA’s executive vice president of business development, walked through the 24-year history of the mall from its beginnings with Camp Snoopy to today’s multi-faceted enterprise that generates $1.1 billion in yearly sales. Today, the mall attracts 40 percent of its visitors from more than 150 miles away. According to Bausch, many of these visitors travel from other states to benefit from Minnesota lack of sales tax on clothing. These travelers have a significant positive impact on the MOA’s revenue and our local economy.
  • Kathleen Allen, corporate counsel for MOA, shared more data on the Mall, including information on many of its environmentally-friendly features. For example, there is no central heating at the Mall but it’s always 72 degrees. Allen also described how the mall has turned its thousands of tons of waste into a revenue center. Among those revenues are $1 million for 1,500 tons of Happy Hog meals generated a year for local farmers.
  • Finally, Kurt Hagen, senior vice president of development at Triple Five Corporation, highlighted short- and long-term plans for MOA. These plans cover 5.6 million sq. ft. and include a new front entry, water park, JW Marriot Hotel, office tower, NHL-size ice rink, performance theatre and, of course, additional retail space.

The secret to MOA’s success story is to offer a unique experience suitable for everyone, together with constant changes to stay abreast of the latest trends. Have something for everyone, means MOA is continuously renovating, expanding, mixing up its merchandise offerings, bringing in new dining options, and introducing new rides and entertainment attractions.

Great job to MOA panel members and to the NAIOP Minnesota Education Committee for putting together this excellent panel presentation. The next NAIOP Minnesota program is the Twin Cities office market overview on November 18.

Entry filed under: Featured Articles.

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For more information about NAIOP Minnesota, visit www.NAIOPMN.org.

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