January 4, 2012
BLOOMINGTON, Minn., (Jan. 4, 2012) – As we enter a new year, Mall of America® continues to evolve and grow with a focus on a strong tenant mix. Announced earlier today, Bloomingdale’s will be departing the Mall in early 2012. Bloomingdale’s has been a major part of the Mall for the past 20 years and we are grateful for the years of partnership we have shared.
We have known this transition would take place for some time, and have planned accordingly. Mall of America has now been provided with a great opportunity to add an exciting mix of new retailers and renovate that area of the mall. We continually conduct research and listen closely to what our customers value and expect. Using the research results we have designed a strategy, and are optimistic that it will exceed customer expectations.
As previously reported, 2011 was a record setting year for Mall of America. Mall-wide sales increased 10 percent and traffic rose by 3.5 percent. During the year we welcomed 26 new tenants to the Mall including unique concepts that were first in the market including Desigual, Superdry, Vera Bradley, Michael Kors, Bettie Page, Stuart Weitzman, Stir Crazy fresh Asian Grill and Dick’s Last Resort.
Presently our plans call for the following additions and improvements:
To accomplish these improvements, Triple Five Worldwide will invest between $30 and $50 million in renovations and new construction. The upgrade of the court area is scheduled to begin in mid-February 2012 and it will complement the recent renovations on South Avenue and East Broadway.
These changes combined with the addition of the 500-room Radisson Blu Hotel (open in March 2013); certain components of Phase II will begin in 2013; and the additions of two new rides that will open in March 2012 in Nickelodeon Universe (one thrill ride and a drop slide) all combine to create an even more dynamic Mall of America. The coming months and years will be exciting as we continue to create a must-visit destination.
Over the next several months we will be announcing the names of our new retailers and restaurants with their approval.
About Mall of America®
Mall of America is the nation’s largest retail and entertainment complex. At 4.2 million square feet, MOA is home to more than 520 world-class shops; Nickelodeon Universe®, the nation’s largest indoor family amusement park; SEA LIFE Minnesota Aquarium, a 1.2 million gallon walk- through aquarium; Moose Mountain Adventure Golf; Theatres at Mall of America® - a 14-screen movie theater with VIP theatre and more. The Mall opened in August of 1992 and is located in Bloomington, Minn., just minutes from downtown Minneapolis and St. Paul. Follow Mall of America on Facebook and Twitter or visit our blog.